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The global economy is in a precarious state and is headed for a substantial slowdown in growth as sharp interest rate increases hurt activity and exacerbate vulnerabilities in low-income countries, according to the report. World Bank. Stronger-than-expected resilience in the first few months of 2023 is expected to fade into longer-lasting weakness as tight monetary […]
Tag: world Bank
World Bank: Peruvian GDP will grow less due to the political crisis
The World Bank cut from 2.4% to 2.2% forecasts for economy growing Peruvian economy by 2023, a figure that contrasts with the always more optimistic projections of the Ministry of Economy and Finance (MEF), which in its last report in April pointed to a 2.5% increase in GDP. This decline of 0.4 percentage points from […]
World Bank cuts growth forecast for Peru from 2.4% to 2.2% in 2023
Free fall for the Peruvian GDP from the 2.6% projected at the beginning of the year. The Agency points out that political uncertainty is negatively affecting consumer and business confidence, particularly with regard to investment. When is the 2023 bonus paid in Peru and how to calculate the amount? Price of the dollar today in […]
Velarde describes GDP growth in Peru as “mediocre”: how much would the economy reach in 2023?
The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, pointed out last Friday that the estimated growth of the Gross Domestic Product (GDP) in Peru is “mediocre”; however, it is located in a better position compared to the rest of the countries in Latin America. Along these lines, he warned that the […]
The World Bank approves a US$300 million loan to support SMEs in Ecuador
The World Bank (WB) approved this Wednesday a loan for US$ 300 million to expand a financial support program for small and medium-sized companies (SMEs) in Ecuador, executed since 2021 by the state-owned National Financial Corporation (CFN). The WB office in Quito indicated that the agency’s executive board in Washington approved the loan that will […]
Meet the countries that pay people to move to rural areas
According to him World Bank, Around 56% of the world population – some 4.4 billion people – lives in cities, this figure will increase to 68% in 2050, according to the UN. There are many governments that try to convince people to leave the city and move to the countryside, boosting the economic growth of […]
World Bank: decrease in wages in Peru would also be associated with climate change
A report from World Bank (WB) associates the increase in annual temperature of 1°C with the decrease, in this same period, of 1% in wages in Latin America. The effect is especially noticeable in countries with warmer climates such as Colombia, Mexico, Panama and Peru. The report “Thriving: Making Cities Climate Ready” points out that […]
Food insecurity hits northern regions hardest
The food insecurity during 2022 it affected about 258 million people in 58 countries around the world. The figure is almost 38% more than that registered in the previous year when it reached around 192 million people, according to the latest Global Report on Food Crises 2023 (GRFC) prepared by the World Bank. This number […]
Biden nominates a Latina economist for Fed Governor
The US president, Joe Biden, nominated this Friday the Colombian-American economist Adriana Kugler to be governor of the Federal Reserve (Fed), which would make her the first Latina to be part of the board that leads the US organization. Kugler is currently the executive director of World Bank Group for the United States. According to […]
Ajay Banga, from emerging markets to the World Bank to combat the climate crisis
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He has no experience in development organizations, but the new president of the World Bank (WB), Ajay Banga, is clear that his experience in both emerging and developed economies makes him the most suitable for a position where one of the main challenges will be fight against climate change. At 63, the turban-wearing Indian-American executive […]