World Bank Explores Enhanced Guarantees for Commercial Loans to Boost Development Financing
The World Bank is exploring ways to expand its guarantees for commercial loans to bolster private financing options for developing countries. This initiative comes as some emerging economies find it increasingly challenging to access international markets due to rising global interest rates and uncertainties surrounding the U.S. Federal Reserve’s monetary policy. The recent surge in […]
Poor countries debt rose to $860 BLN
The World Bank warned of a significant 12% rise in the debt burden of the world’s low-income countries to a record $860 billion in 2020. This is a result of this pandemic. World Bank President David Malpass said that the bank’s International Debt Statistics 2022 report showed a dramatic increase in the debt vulnerabilities facing […]
UK’s Sunak calls on G7 to work together
British finance minister Rishi Sunak said that the Group of Seven rich nations should work together more closely. So that it will be easy to tackle supply-chain disruption, that has hampered the economic recovery from this pandemic. Sunak is meeting other finance ministers in Washington on the sidelines of the annual meetings of the International […]
Growth is the biggest challenge for emerging economies
The World Bank‘s chief economist said that the lack of growth is the biggest economic challenge facing developing economies. Carmen Reinhart, the World Bank‘s chief economist said that the economic growth was essential for poverty reduction. And also, for creating government revenues to use for fiscal space, social safety nets and the provision of public goods. She […]
World Bank commits to annual reports on climate action plan
The World Bank on Tuesday agreed to boost the amount of money it spends to tackle climate change to 35% from a previous target of 28%. They have also agreed to release annual progress reports. This new draft came into action due to the lack of a clear implementation strategy. The global development bank said […]