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Top StoriesWorld Bank Forecasts 2024 Global Growth to Slow for Third Consecutive Year
Top StoriesProgress in Reforming Development Banks ‘quite Limited,’ New Tool Shows
BankingWorld Bank Cuts 2024 Global Growth Forecast as Rate Hikes Bite but Lifts 2023 Outlook
Bangladesh Moves up the Ranks and Could Become the 24th Largest Economy by 2036
Date: May 3, 2023
Bangladesh, located in South Asia, has made significant strides in recent years, with the country becoming one of the fastest-growing economies in the world. Today, it is the 32nd largest economy worldwide. And although it’s the eighth most densely populated country globally, Bangladesh has managed to make remarkable progress, including increasing literacy rates, boosting exports,...
Analysis-No China, No Deal: Bid to Break Sovereign Debt Logjams Gets Weary Thumbs Up
Date: April 14, 2023
Analysis-No China, no deal: Bid to break sovereign debt logjams gets weary thumbs up By Libby George and Marc Jones LONDON (Reuters) – The latest bid by the world’s leading institutions and creditors to speed up debt restructurings and get bankrupt countries back on their feet has been greeted by a mix of cautious optimism...
Sovereign Debtors, Creditors Agree on Steps to Jumpstart Debt Restructurings
Date: April 13, 2023
Sovereign debtors, creditors agree on steps to jumpstart debt restructurings By Andrea Shalal WASHINGTON (Reuters) – Global creditors, debtor nations and international financial institutions on Wednesday agreed ways to jumpstart and streamline long-stalled debt restructuring efforts, including through improved data sharing and clearer timetables. The World Bank, International Monetary Fund and India, current president of...
German Minister: Next World Bank Boss Should Be a Woman
Date: February 22, 2023
BERLIN (Reuters) – The next World Bank president should be a woman, Germany’s international development minister told Reuters in remarks that could strengthen the potential candidacy of Ngozi Okonjo-Iweala, the American-Nigerian head of the World Trade Organization. Svenja Schulze, a party ally of Social Democrat Chancellor Olaf Scholz, casts the vote of Germany, one of...
World Bank Warns Global Economy Could Easily Tip Into Recession in 2023
Date: January 10, 2023
By David Lawder WASHINGTON (Reuters) – The World Bank slashed its 2023 growth forecasts on Tuesday to levels teetering on the brink of recession for many countries as the impact of central bank rate hikes intensifies, Russia’s war in Ukraine continues, and the world’s major economic engines sputter. The development lender said it now expected...
Exclusive-World Bank Seeks More Funds to Address Climate Change, Other Crises -Document
Date: January 3, 2023
By David Lawder WASHINGTON (Reuters) – The World Bank is seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools, according to an “evolution roadmap” seen by Reuters on Monday....