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.
The world is on a crash course as people's hopes collide with a future in which millions of jobs are automated, the World Bank chief has said. Jim Yong Kim said policymakers should take action by investing in education and health. The World Bank president spoke in New York ahead of the group's annual meeting in Washington DC this week.
In a positive development, today more than ever before, Latin American and Caribbean countries are pursuing counter-cyclical fiscal policies - spending more in bad times and saving in good times, according to a new World Bank semiannual report for the region.
María Eugenia Vidal, governor of the province of Buenos Aires, reached an agreement with the World Bank for a 380-million-dollars loan to finance infrastructure works that would be beneficial to more than sixty municipalities. Bidding to start in March.
The World Bank has slashed its 2016 global growth forecast to 2.4% from the 2.9% estimated in January, due to stubbornly low commodity prices, sluggish demand in advanced economies, weak trade and diminishing capital flows.
The International Monetary Fund and the World Bank are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion.
Following President Mauricio Macri’s economic policies and the deal with the holdout funds, Argentina will help to bring stability and a larger economic growth to Latin America, now facing a declining economy mainly because of Brazil’s downfall, representatives from the International Monetary Fund said.
A British exit from the European Union would pose “serious downside risks” to an already slowing global economy, the head of the International Monetary Fund said on Thursday.
A report by the civil society network Oxfam has found, about 84% of the dollars invested in sub-Saharan Africa in 2015 by the International Finance Corporation (IFC), the private sector arm of the World Bank Group, went to companies with presence in at least one tax haven.
The United States gave another sign of support for Argentina’s economic policies as US Treasury Secretary Jacob Lew spoke on the phone with Finance Minister Alfonso Prat-Gay, striking an optimistic tone regarding the settlement offer made to the holdout funds in New York.