After getting out of its most severe recession in history in 2017, Brazil remains in a state of economic malaise, notching up a mere 1% of growth last year, with public debt forecast to snowball from 77% of GDP to 140% by 2030, according to the World Bank.20 comments
The World Bank Group unveiled a new system on Thursday to rank countries based on their success in developing human capital, an effort to prod governments to invest more effectively in education and healthcare.Add your comment!
Whoever wins Brazil’s presidential election on October 7, and the runoff on October 28, will have to convince markets, implement austerity measures while trying to drag millions people out of poverty.
Argentina is looking to expand an existing currency swap arrangement with China, as Buenos Aires looks to stabilize the economy one month after applying for financial aid from the International Monetary Fund. In an interview with the Financial Times, Argentina’s Chief of Cabinet Marcos Peña, said “we have an active swap with China that the previous government left us and we will try to make it bigger.”
The Argentine Congress passed the government's capital markets reform bill on Wednesday, seeking to boost a troubled economy by reducing the power of market regulators and loosening restrictions on some funds investing in Argentina. Investors and economists consider the reform bill key to President Mauricio Macri's effort to boost investment in the country, whose capital markets are far smaller than regional peers.
The British publication The Economist praised Uruguay's progress and underlined its decreasing dependency from giant neighbours Brazil and Argentina.
The global climate perspective is darkened by a climate change that has accelerated in recent years and is becoming increasingly difficult to reverse. The ambitious temperature limits established in the Paris agreement are about to be overcome. Among its consequences, it is revealed that at least 26 million people will be dragged into poverty annually due to climatic causes and the retreat of the ice in the poles and mountain glaciers accelerates exponentially.
The World Bank forecasts global economic growth to edge up to 3.1% in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.
At least half of the world’s population cannot obtain essential health services, according to a new report from the World Bank and WHO. And each year, large numbers of households are being pushed into poverty because they must pay for health care out of their own pockets.
A new system implemented by the World Bank to measure the number of people who live below the poverty line has meant that in Brazil the number has risen from 8.9 million to 45.5 million, which is almost a third of the population.