Washington: Strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year, the International Monetary Fund’s chief said Thursday, below the annual historic average and a warning sign about potential lackluster performances through the 2020s. “Without a course correction, we are indeed heading for …
The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries. Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first …
Pakistan’s current economic model is not working, a top World Bank official has said, underlining that the cash-strapped nation must change policies that have plagued development and benefitted only a few. The remarks by World Bank Country Director Najy Benhassine came in a Policy Vision article, published in the latest UNDP publication. Pakistan’s current economic …
Marrakech: Finance minister Nirmala Sitharaman on Saturday pitched for a strong, quota-based and adequately resourced International Monetary Fund (IMF) and emphasised that a coordinated response of the global community will foster multilateralism. In her remarks at the IMF Board of Governors meeting here on the theme of ‘Dialogue on Policy Challenges’, Sitharaman expressed concerns about …
Officials from Brazil, Russia, India, China and South Africa gather in Johannesburg on Tuesday for a three-day BRICS summit, a five-nation club comprising 40% of the world’s population and more than 25 percent of global GDP that positions itself as an economic counterweight to the West. Almost 15 years on from the group’s founding, FRANCE 24 takes a look at the BRICS nations in numbers …
Moody’s Investor Service Friday affirmed India’s ‘Baa3’ rating with a stable outlook. The ratings agency said that rising growth will contribute to higher income levels and overall economic resilience. It also noted that India is likely to grow faster than other major economies, even if potential growth for the country has come down to 6-6.5% …
The World Bank is mulling local currency lending in countries like India to help borrowers save on costs, a senior official said on Friday. “How do we do local currency lending for a country like India is also something we are trying to think of at a price which is advantageous to this country,” Anshula …