Updated on 01/11/2022 02:38 pm The president of the World Bank (WB), David Malpass, urged China, one of the main creditors of poor countries, to participate “fullyIn debt relief efforts. “Many countries now face record levels of foreign and domestic debt as interest rate hikes begin”Said the head of the Washington-based institution. About 60% of […]
Tag: world Bank
PCM approves agreements with IDB and WB to serve bio-businesses in the Amazon and electrification
In order to establish a better electrification scheme and promote the growth of bio-businesses in the Peruvian Amazon, the Presidency of the Council of Ministers (PCM), through the Ministry of Economy and Finance (MEF), approved two loans for a total of US $ 90 million from the Inter-American Development Bank (IDB) and the World Bank […]
Almost 50% of households in Latin America earn less than before the pandemic
The recovery of the economy is shown unevenly in Latin America and the Caribbean, who are trying to get out of the COVID-19 crisis with a weakened economy, lower incomes in nearly half of households and twice as food insecure, according to a survey published this Monday, November 29 by the World Bank and the […]
Global remittances will grow 7.3% this year boosted by Latin America, according to the World Bank
Global migrant remittances to developing countries will grow 7.3% this year, reaching US $ 589,000 million, driven by the rise of 21.6% in shipments destined for Latin America and the Caribbean, according to the latest World Bank forecasts ( BM). The five countries that will receive the most remittances this year are India, China, Mexico, […]
World Bank Report Shows “Massive Gaps” in Poor Countries’ Debt Tracking Systems
Updated on 11/10/2021 11:57 am Existing systems for monitoring the sovereign debts of the poorest countries are inadequate and mask hidden debts, so they likely owe much more than currently estimated record levels, said World Bank (WB) chief economist Carmen Reinhart. . The multilateral development bank released the first comprehensive assessment of global and national […]
Human and natural capital is key to sustainable economic growth, says the World Bank
Economic growth can only be considered truly sustainable if human and natural capital are part of the equation, since Gross Domestic Product (GDP) and other traditional measures are not enough, a new report from the World Bank (WB) showed. “A deeper and more nuanced understanding of the sustainability of wealth is critical to a green, […]
World Bank promotes green hydrogen to boost recovery in Latin America
The production and export of green hydrogen can drive the rebound in the economy of Latin America and the Caribbean, hard hit by COVID-19, says the World Bank (WB) in its latest regional semi-annual report. For the Latin American and Caribbean countries, to which the pandemic added another “lost decade“In terms of economic expansion after […]
GDP recovery will not guarantee to alleviate monetary poverty
During 2020, poverty reached 9.9 million Peruvians (30.1% of the population), which represented a decline of ten years after the economy contracted by -11.1% due to the stoppage of activities due to of COVID-19. Although for this year the economy is expected to reach just over 10% due to statistical rebound; entities like Ministry of […]
Who finances the fight against the climate crisis? All and none
Governments, companies and multilateral organizations must finance the fight against the climate crisis, although there is a lack of concreteness, as was clear last Thursday at the forum “Making climate action count”, organized by the World Bank (WB). A few weeks before the climate conference starts in November COP26 in Glasgow (the United Kingdom), the […]
Doing Business: World Bank and IMF panel calls for measures to ensure data integrity
Updated on 10/15/2021 01:25 pm The World Bank Development Committee (BM) and the International Monetary Fund (IMF) urged the bank to take further steps to “ensure the integrity and credibility of the data,” in the wake of an information manipulation scandal involving its now-canceled “Doing Business” report and IMF Managing Director Kristalina Georgieva. The panel, […]