Tag: World Bank

• Saturday, April 12th 2025 - 10:44 UTC

  WB and IDB pledge further funding for Milei's Argentina

  

  The World Bank (WB) announced Friday a US$ 12 billion financing package for Argentina over three years to support economic stabilization and reforms. Pending board approval, the initiative consists of several contributions as follows:

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• Tuesday, April 1st 2025 - 10:24 UTC

  World Bank Chief due in Asunción after almost 50 years

  

  World Bank Group (WBG) President Ajay Banga is due in Asunción Tuesday for a historic visit to Paraguay, the first by a man in his position in nearly 50 years since Robert McNamara’s in 1976. Invited by Paraguayan President Santiago Peña, Banga aims to strengthen bilateral ties, focusing on sustainable development, job creation, and private investment.

• Sunday, February 9th 2025 - 19:28 UTC

  BoE chair fears “fragmentation of world economy” if Trump abandons IMF and World Bank

  

  The Governor of the Bank of England Andres Bailey has urged continued US support for two major global economic institutions. According to a piece published by BBC, Mr. Bailey said he was “following extremely closely” whether the Trump administration would change its support for the International Monetary Fund (IMF) and the World Bank.

• Thursday, November 21st 2024 - 09:44 UTC

  Argentina gets IDB and WB loans

  

  Argentina's Libertarian Government has been granted loans from the World Bank (WB) and the Inter-American Development Bank (IDB) worth around US$ 4 billion, the Economy Ministry in Buenos Aires announced Wednesday. “The IDB and the World Bank approve financing for more than 4 billion dollars for projects in our country,” the ministry said in a statement.

• Thursday, October 24th 2024 - 10:22 UTC

  World Bank endorses Brazil taxing health-harming products

  

  According to a statement released Wednesday by he World Bank (WB), South America's largest country has “a unique opportunity” to improve public health by properly planning taxes on products such as tobacco, alcohol and sugary drinks that are known to be potentially harming to humans, Agencia Brasil reported. The organization also listed a series of technical recommendations on how to structure and apply these taxes “in order to make significant progress in public health and tax revenue.”

• Wednesday, October 23rd 2024 - 10:56 UTC

  World Bank announced US$ 2 bn loans for Argentina

  

  World Bank (WB) Vice President Carlos Felipe Jaramillo announced Tuesday on X that his entity was “ready to accompany Argentina with more than US$ 2 billion in new loans in the areas of social protection and education and in supporting the poorest in their access to transportation and energy.” He made those remarks after a “very good meeting” with Argentina's Economy Minister Luis Toto Caputo in Washington DC.

• Thursday, September 5th 2024 - 10:45 UTC

  Argentina, only country in the region with a contracting economy

  

  Less than a year into the government of Libertarian President Javier Milei, Argentina will be the only country in the region with negative growth in 2024, according to projections by the World Bank, the International Monetary Fund (IMF), ECLAC, and BBVA, which forecast a 3.2% contraction of Gross Domestic Product (GDP) in South America's second-largest economy.

• Tuesday, June 11th 2024 - 22:17 UTC

  World Bank foresees economic deterioration for Argentina this year

  

  According to the latest “World Economic Outlook” report released Tuesday by the World Bank from its headquarters in Washington DC, Argentina's economy is expected to fall sharply this year, thus becoming the Latin American country going through the tightest contraction in the region before rebounding in 2025. The study projected a 3.5% drop this year followed by a 5% surge in 2025, thus outperforming the rest of the continent.

• Friday, April 19th 2024 - 21:14 UTC

  Brazil's Finance Minister hopes G20 will tax the super‑rich to tackle world's debt crisis

  

  During his trip to Washington DC to attend International Monetary Fund (IMF) and World Bank (WB) engagements, Brazil's Finance Minister Fernando Haddad said he hoped the G-20 would approve later this year a new taxation for the planet's super-rich so that the global economy could adjust amid an unprecedented debt crisis, Agencia Brasil reported.

• Friday, April 12th 2024 - 15:30 UTC

  Latin America and Caribbean persistent low growth and stalled progress, World Bank report

  

  Latin America and the Caribbean (LAC) has reached a critical juncture. While the region has made significant progress in economic stabilization over recent decades, growth has stalled, undermining progress. Urgent action is needed to reverse course. In a new report, “Competition: The Missing Ingredient for Growth?” the World Bank highlights potential areas for action, emphasizing that leveraging competition policies and institutions is key to any impactful growth strategy.