Washington: Strong economic activity in the United States and emerging markets is projected to help drive global growth by about 3% this year, the International Monetary Fund’s chief said Thursday, below the annual historic average and a warning sign about potential lackluster performances through the 2020s. “Without a course correction, we are indeed heading for … Read more
A job fair in China’s southwestern city of Chongqing on April 11, 2023. Str | Afp | Getty Images The global economy is on course to record its worst half decade of growth in 30 years, according to the World Bank. Global growth is forecast to slow for the third year in a row in … Read more
The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row, prolonging poverty and debilitating debt levels in many developing countries. Hamstrung by the COVID-19 pandemic, then the war in Ukraine and ensuing spikes in inflation and interest rates around the world, the first … Read more
World Bank President Ajay Banga on Tuesday batted for removing barriers to private sector investment, saying it is key to tackling challenges before the global economy as neither the governments nor multilateral banks have trillions of dollars in their coffers. Speaking to World Economic Forum Founder and Executive Chairman Klaus Schwab in a podcast ahead … Read more
Pakistan’s current economic model is not working, a top World Bank official has said, underlining that the cash-strapped nation must change policies that have plagued development and benefitted only a few. The remarks by World Bank Country Director Najy Benhassine came in a Policy Vision article, published in the latest UNDP publication. Pakistan’s current economic … Read more
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