Tag: World Bank

10 Million People At Risk Of Slipping Into Poverty In Pakistan: World Bank

April 3, 2024 admin

World Bank says over 10 million more people are at risk of descending into poverty in Pakistan Islamabad: The World Bank has painted a grim economic picture of Pakistan in its biannual report, cautioning that over 10 million more people are at risk of descending into poverty in the cash-strapped country. The Washington-based lender’s apprehension…

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RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable

February 8, 2024 admin

Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: EMMANUAL YOGINI “With India’s current account deficit (CAD) declining sharply to 1% of GDP in Q2:2023-24 from 3.8% in Q2:2022-23,” RBI Governor Shaktikanta Das on February 8 said going ahead, the net balance under services and remittances would remain in large surplus, partly offsetting the trade deficit. …

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Israel-Hamas War Could Cause Hike In Oil Price: World Bank

October 30, 2023 admin

Over 8,000 people have died in Gaza since war with Israel (File) Washington: The war between Israel and Hamas could trigger price shocks for raw materials such as oil and agriculture products if the conflict escalates across the Middle East, the World Bank warned in a report Monday. Oil has already risen six percent since…

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World Bank’s Banga says geopolitics pose ‘serious’ risk to world economy

October 24, 2023 admin

World Bank President Ajay Banga. File. | Photo Credit: Reuters World Bank President Ajay Banga said on October 24 that geopolitic tensions pose the biggest threat to the world economy, but that risks “tend to move around” fast, so others should not be ignored. “The U.S. 10-year Treasury [yield] just crossed 5% briefly yesterday, these…

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World Bank says high rates threaten some countries

October 11, 2023 admin

The World Bank’s chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt. The U.S. Federal Reserve, the European Central Banks and others have raised rates and warned that they could remain high longer than expected in order to bring down elevated inflation. The International Monetary Fund…

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IMF, World Bank hold first meetings in Africa in 50 years

October 9, 2023 admin

The IMF and World Bank last held their meetings in Africa in 1973, when Kenya hosted the event and some nations were still under colonial rule. | Photo Credit: Reuters The IMF and World Bank gather in Morocco Monday for their first annual meetings on African soil in 50 years, under pressure to reform to…

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World Bank Maintains India Current Fiscal Year Growth Forecast At 6.3%

October 3, 2023 admin

The World Bank maintained its growth forecast for India at 6.3%. NEW DELHI: The World Bank on Tuesday maintained its forecast for India’s economic growth for the current fiscal year that started on April 1, saying the Indian economy continued to grow rapidly despite challenging external conditions. The World Bank maintained its growth forecast for…

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World Bank Downgrades East Asia’s Growth Forecast Due To Slowdown In China: Report

October 2, 2023 admin

China’s growth is expected to fall down in 2024, as per World Bank. (Representational Photo) The World Bank has said that east Asia’s developing economies are expected to expand at one of the lowest rates in five decades, blaming the gloomy outlook to slowdown in China. The Financial Times said in a report that the…

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Pakistan’s 40 percent Population Lives Below Poverty Line, Says World Bank: Report

September 24, 2023 admin

The World Bank has asked Pakistan to tax its agriculture and real estate. (Representational) Islamabad: Pakistan’s 40 per cent of the population lives below the poverty line, as per the World Bank, Dawn reported. Dawn is a Pakistani English-language newspaper. The country now needs to take a look at its policy decisions driven by strong…

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Amit Shah Cites World Bank

September 8, 2023 admin

Every rupee saved by us is a step towards becoming a fully developed nation, said Amit Shah (File) New Delhi: Union Home Minister Amit Shah on Friday, citing the World Bank report on India’s digital public infrastructure push, said that the nation has achieved 80% financial inclusion under the leadership of Prime Minister Narendra Modi….

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