The World Bank has trimmed its growth forecast slightly for China, citing a bumpy start to the year. It now expects the Chinese economy to grow by 7.6% in 2014, down from its earlier projection of 7.7%. A slew of disappointing figures has triggered concerns of a slowdown in the world's second-largest economy.
The World Bank announced on Tuesday a series of measures to strengthen the bank resources including a 100 billion dollars increase in the lending capacity for middle-income countries over the next decade, new innovations in financial management, and a boost in the institution’s ability to provide private sector support.
Argentina praised some of the “positive and favorable comments” by the United Nations Food and Agriculture Organization (FAO) and the World Bank regarding the country’s social and economic agenda, regretting that certain media “downplay” such news.
Venezuela has dismissed as “disrespectful” comments made by a senior World Bank official that Haiti was not transparent in its handling of funds provided under the Caracas-led PetroCaribe.
Argentina will grow at an enviable rate compared to other countries in the region, Chief Economist for the World Bank’s Latin America and Caribbean Office Augusto de la Torre said this week, commenting on the institution’s projections for next year.
The Argentine government and the World Bank agreed on Thursday in Washington on a new Strategic Partnership involving an estimated 3 billion dollars in the next three years which will concentrate on loans for education, health care and rural development.
UK Secretary of State for International Development, Justine Greening has confirmed that due to recent actions by the Argentine government she is no longer confident that further investments in Argentina would be consistent with the objectives she laid out in February this year, in an answer to a House of Commons Written Parliamentary Question.
World Bank President Jim Yong Kim is in Peru this week, returning to the place where he says his interest in poverty reduction was first piqued.
The World Bank is concerned about the spill-over effects on developing countries of a slowing of US money creation and will move to provide affordable capital when borrowing costs rise.
The World Bank cut its outlook for global growth, saying the economy should expand more slowly this year than last as it cited a deeper-than-expected recession in Europe and a recent slowdown in some emerging markets such as BRIC members.