Page 15 - World Bank

World Bank President David Malpass praises India for empowering women

The world is leapfrogging in women's empowerment, World Bank President David Malpass has said and praised India's efforts, especially that of Prime Minister Narendra Modi, saying he is deeply interested and concerned." Participating in a panel discussion on Empowering Women as Entrepreneurs and Leaders organised by the World Bank on the sidelines of its spring meetings here on Thursday, Malpass and Finance Minister Nirmala Sitharaman, along with other panelists, discussed the development and empowerment of women in India and the world. We should continue all that we are doing now for women, Sitharaman said in response to a question as she explained in detail the steps the Modi Government has undertaken for the economic empowerment of women in India. Malpass commended the efforts of Prime Minister Modi in India, where the World Bank has a massive programme. The prime minister, he said, is deeply interested and concerned and pushing on this issue. The world is leapfrogging in ...

China left out of Sri Lanka debt restructure talks amid angst over delays

Both Sri Lanka and its creditors have said they would like China to participate but people familiar with the talks said they are also eager not to let Beijing hold up negotiations any further

IMF MD Georgieva praises Ajay Banga's commitment to opportunities for all

IMF Managing Director Kristalina Georgieva on Thursday applauded Indian-American Ajay Banga, who is slated to be the president of the World Bank, for his commitment to inclusion and opportunities for all. In February, Banga was nominated by US President Joe Biden after World Bank President David Malpass announced his decision to leave. The World Bank Board of Directors are likely to announce 63-year-old Banga as the next head of the institution soon. I have known Ajay for quite some time. I think very highly of his leadership skills, but above all of the commitment to inclusion and opportunities he has demonstrated throughout his life, International Monetary Fund Managing Director Georgieva told reporters at a news conference held on the sidelines of the annual meetings of the International Monetary Fund and the World Bank. Banga is the only candidate nominated for the World Bank presidency, which has traditionally gone to the United States. We have been talking together on many .

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International Monetary Fund can help developing nations by helping planet

Tackling the issue requires a long-term vision for sovereign financing to achieve greater stability and resilience in developing economies

Need to address growing debt distress across the globe: Nirmala Sitharaman

Sitharaman also emphasised the need for debt transparency, information exchange, and clarity regarding the treatment of different debt situations on par, predictability of the process, and timeliness

Must feel full price: Zelenskyy calls for confiscating Russia's funds

In an appeal to the heads of the IMF and World Bank, Ukraine's president on Wednesday renewed his call to confiscate Russian Central Bank assets held around the world and use them to help rebuild Ukraine. To charge the aggressor with compensation for damages," Ukrainian President Volodymyr Zelenskyy said by video link. "Russia must feel the full price of its aggression." The U.S. announced at the start of Russia's invasion that America and its allies had blocked access to more than $600 billion that Russia held outside its borders. The U.S and its allies continue to impose rounds of targeted sanctions against companies and the wealthy elite with ties to Russian President Vladimir Putin. It must be clearly stated that the assets of the Russian Central Bank will be confiscated. It will be a peacemaking act on a global scale, Zelenskyy said. He was patched in for a session with Ukrainian Prime Minister Denys Shmyhal, U.S. Treasury Secretary Janet Yellen, World Bank President David ...

'World economy has improved': Janet Yellen plays down banking woes

The Treasury head is scheduled to take questions from the media following her remarks, which come at the beginning of the World Bank and International Monetary Fund's spring meetings

World Bank chief raises 2023 global growth outlook, eyes debt progress

Advanced economies, including the US, are also doing a bit better than the World Bank anticipated in January, Malpass said

World Bank, IMF chiefs to discuss complex challenges facing global economy

Three years since the pandemic started, uncertainties and risks still weigh heavily on the global economy, according to the World Bank

How reward-driven are top-level appointments to World Bank and IMF?

Opinion is divided on the issue, with one section of experts and seasoned politicians claiming meritocracy isn't always at play, while another puts the choice down to plain pragmatism

Expert group on MDB reform to focus on development, green finance

Expert group will hold first in-person meeting in Washington next week

World Bank downgrades Ukraine's GDP growth forecast to 0.5% this year

The World Bank has lowered its estimate for Ukraine's GDP growth this year to 0.5 from 3.3 per cent estimated in January, state media reported.

Sri Lankan economy projected to contract by 4.3%, says World Bank

The Covid-19 pandemic, rising energy prices, populist tax cuts and inflation of more than 50 per cent has battered Sri Lanka

Strong structural reforms can help Bangladesh sustain growth: World Bank

Improving trade competitiveness for export diversification will be critical to achieving Bangladesh's aspiration of upper middle-income status by 2031

World Bank projects massive decline in Pakistan's GDP growth to 0.4%

Projecting a massive decline in Pakistans GDP growth to 0.4%, World Bank has warned that non-completion of IMF programme and political instability may result in eruption of major macroeconomic crisis

World Bank cuts India's growth forecast to 6.3%; ADB projects 6.4% for FY24

Cite global slowdown spillover, policy tightening impact

Impending slowdown

Global uncertainty will affect economic growth

India's GDP growth to slow down to 6.3 per cent in FY24: World Bank

The latest India Development Update, released Tuesday, notes that rising borrowing costs and slower income growth are expected to weigh on private consumption growth

World Bank says recoveries in developing Asian economies losing steam

Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday. The report forecasts that growth in the region including China will pick up pace this year after the world's No. 2 economy relaxed pandemic restrictions on travel and other activities. But recoveries elsewhere in the region, excluding China, will moderate as pressures of inflation and growing household debt slow consumer spending, it said. Across the Asia-Pacific, economies are expected to grow at a 5.1% annual pace this year, up from 3.5% in 2022, the report said. But not including China, growth is expected to slip to 4.9% in 2023 after a rebound from the worst of the pandemic of 5.8% in 2022, it said. Major Asian economies like Indonesia, Philippines, Thailand and Vietnam will see their recoveries slow and meanwhile face risks from weakening global growth, spillover from the war in Ukraine a