Page 30 - World Bank

Kaushik Basu says manipulation of WB's Doing Business ranking is 'shocking'

The former chief economist of World Bank Kaushik Basu said on Saturday that pressure was therebut the multilateral institution never gave in.

EXPLAINER: Why World Bank is under fire over set of rankings

Under fire for allegations that it bowed to pressure from China and other governments, the World Bank has dropped a popular report that ranked countries by how welcoming they are to businesses. The report is important to many companies and investors around the world: They use the World Bank's Doing Business report to help decide where to invest money, open manufacturing plants or sell products. Eager to attract investment, countries around the world, especially developing economies, have sought to improve their rankings in the World Bank's report. Sometimes, nations would pursue substantive policy changes by, for example, making it easier for businesses to pay taxes, obtain loans or enforce contracts. Sometimes, they would take a more aggressive tack: Like pushy high schoolers cajoling a teacher for a higher grade, they would lobby the World Bank to provide a higher score on the Doing Business report Countries that have scored a high ranking have often touted their success. In 201

'Not true': IMF chief denies pro-China pressure on World Bank report

Georgieva used a previously scheduled meeting with staff to address findings contained in an independent report on data irregularities in World Bank's now-canceled "Doing Business" rankings

IMF chief Georgieva in spotlight after World Bank China rigging report

The IMF review was launched after Georgieva briefed the board on the issue on Thursday

Bad for business: World Bank China rigging scandal rattles investors

They said the World Bank's discontinuation of the "Doing Business" reports could make it harder for investors to assess where to put their money

World Bank to discontinue 'Doing Business' report after China-linked probe

The decision was taken after a probe of data irregularities allegedly due to pressure by some top bank officials to boost China's ranking in 2017 came to light

IMF chief lobbied to improve China's biz ranking, says World Bank

To discontinue 'Doing Business' reports after ethics review

World Bank discontinues business climate report after ethics review

IMF MD Kristalina Georgieva was cited by the World Bank in the probe of its periodic 'Doing Business' report

Climate change could move more than 200 million people by 2050: Report

Climate change could push more than 200 million people to leave their homes in the next three decades and create migration hotspots unless urgent action is taken to reduce global emissions

Sri Lanka is facing a severe foreign exchange crisis, says finance minister

The government's revenues were also far short of target as pandemic curbs hurt economic activity, Rajapaksa said during a debate in parliament Tuesday

US should strengthen multilateral institutions

The US should, as leading economic power, quickly rescue moribund WTO dispute settlement mechanism and work with other countries to come up with meaningful initiatives

World Bank pauses financial aid to Afghanistan: Spokesperson

The World Bank is halting all financial assistance for projects to Afghanistan in the aftermath of the Taliban assuming power in the country, a World Bank spokesperson said Wednesday.

Growth optimism: Will govt's own investment and exports be enough?

A step jump in medium-term growth rates, of the kind projected, needs all four engines of the economy to be firing. But the govt seems to have bet on just two, writes T N Ninan

An economist's selective notes

Kaushik Basu offers an engaging account of his days at North Block and World Bank but steers clear of controversial issues

IFC lends $250 million to HDFC Ltd to boost green housing finance

Green housing is regarded as a luxury market in the country, but has climate benefits. IFC said its partnership with HDFC would help change perceptions about the market.

Over $157 bn deployed in last 15 months to fight Covid pandemic: World Bank

In its largest-ever crisis response, the World Bank has deployed over $157 billion to fight the impact of the Covid-19 pandemic on health, economic and social fronts over the last 15 months

Investment firm Temasek, IFC buy out Upgrad Espos worth Rs 220 crore

Singaporean investment giant Temasek Holdings and the World Bank arm IFC have infused an additional Rs 220 crore or $29.5 million into leading online education platform Upgrad

World Bank estimates cost of rebuilding Gaza after latest war at $485 mn

Rebuilding Gaza after the latest devastating war between Israel and the territory's militant Hamas rulers will cost up to $485 million, the World Bank said

World Bank expands coronavirus vaccine funding to $20 billion

The funding will be available through 2022

World Bank raises China's economic growth outlook to 8.5% from 8.1%

The World Bank raised its forecast of China's economic growth this year to 8.5 per cent from 8.1 per cent and said Tuesday that a full recovery requires progress in vaccinations against coronavirus