Tag: World Bank

Tuesday, October 13th 2020 - 09:01 UTC
Oxfam claims IMF's loans during the pandemic have worsen poverty and inequality

The vast majority of International Monetary Fund loans extended during the Covid-19 pandemic have suggested or demanded spending cuts that would worsen poverty and inequality, charity group Oxfam says.
Wednesday, September 30th 2020 - 09:45 UTC
World Bank plans US$ 12bn to help poor countries with Covid-19 vaccine purchase and distribution

The World Bank on Tuesday said it has asked its board of directors to approve US$12 billion to help poor countries purchase and distribute eventual vaccines against COVID-19. The bank has already implemented emergency response programs in 111 countries and the extra money, if approved, would be aimed at low- and middle-income countries.
Friday, September 18th 2020 - 08:55 UTC
World Bank chief economist estimates five years for economic recovery from the pandemic

The global economic recovery from the crisis originated by the coronavirus pandemic may take as much as five years, the World Bank's chief economist Carmen Reinhart said on Thursday.
Friday, June 26th 2020 - 10:04 UTC
World Bank staff reject Brazil's nomination to executive director over his racial comments

The association representing staff at the World Bank asked that Brazil’s nomination of Abraham Weintraub to be executive director be reviewed over his past racial comments and other concerns, according to a letter circulated in the bank on Wednesday.
Friday, June 12th 2020 - 09:59 UTC
Fallout from pandemic could plunge 395 million people into extreme poverty

The economic fallout from the coronavirus pandemic could plunge an extra 395 million people into extreme poverty and swell the total number of those living on less than US$1.90 a day worldwide to more than 1 billion, researchers said in a report on Friday.
Tuesday, June 9th 2020 - 07:19 UTC
World Bank loans Mexico one billion dollars to cope with coronavirus effects

Mexico has taken out a one billion US dollars loan from the World Bank as the effects of the coronavirus begin to squeeze the economy, a business newspaper reported on Sunday.
Tuesday, May 26th 2020 - 07:40 UTC
Carmen Reinhart, appointed World Bank Chief Economist

World Bank Group President David Malpass announced on Monday that Carmen Reinhart has been appointed as the new Vice President and Chief Economist of the World Bank Group. Reinhart’s appointment is effective on June 15, 2020.
Wednesday, April 15th 2020 - 13:14 UTC
As demand from China and G7 members plunges, LAC faces sharp decline in growth, World Bank report

The Latin America and Caribbean (LAC) region is seeing a sharp decline in growth due to the COVID-19 (coronavirus) crisis, which requires several policy responses to support the most vulnerable, avert a financial crisis, and protect jobs, according to a new report from the World Bank.
Saturday, April 4th 2020 - 08:10 UTC
Pandemic: Paraguay receives US$ 20 million to support its health system

The World Bank Board of Directors approved today a loan of US$20 million to support Paraguay in strengthening its health system in the face of the coronavirus pandemic (Covid-19). In the context of the country's current health situation, already affected by the worst dengue outbreak in recent years, the project will help strengthen the already overburdened health system through the purchase of medical supplies and equipment.
Saturday, April 4th 2020 - 08:08 UTC
World Bank US$ 35 million emergency loan for Argentina to combat coronavirus

The World Bank Board of Directors today approved a US$ 35 million emergency loan to support the Argentine government efforts to minimize the impact of the COVID-19 pandemic on the health system through the procurement of medical supplies and equipment. This financing forms part of a World Bank fast track package of up to US$ 14 billion to help countries cope with the health and economic impacts of the COVID-19 pandemic.