Saturday, January 29, 2022

World Bank

World Bank sees sharp world growth slowdown, ‘hard landing’ risk for poorer nations

It says global growth is expected to decelerate 'markedly' to 4.1% in 2022 from 5.5% last year, and drop further to 3.2% in 2023.

Health costs during pandemic pushed over half a billion people into poverty

The pandemic disrupted health services globally and triggered the worst economic crisis since the 1930s, making it even more difficult for people to pay for healthcare.

Pandemic impact on education more severe than predicted, World Bank and UN say

The World Bank along with UN agencies say the current generation of students risks losing US$17 trillion in lifetime earnings, amounting to about 14% of global GDP, due to classroom disruptions caused by Covid-19.

China urges World Bank, IMF to help Afghanistan

The Taliban takeover in August saw billions of dollars in central bank assets frozen and international financial institutions suspend access to funds, although humanitarian aid has continued.

Global oil prices won’t decline until 2023, says World Bank

Oil prices in recent weeks have surged above US$80 a barrel, the highest point in years, as economies reopen following the pandemic shutdowns and amid shipping bottlenecks.

Poor countries’ debt rose 12% to record US$860 billion in 2020, says World Bank

World Bank president David Malpass says the bank's International Debt Statistics 2022 report showed a dramatic increase in the debt vulnerabilities facing low- and middle-income countries.

World Bank, IMF face long-term damage after data rigging scandal

The damage from the data-rigging scandal that forced the World Bank to discontinue its 'Doing Business' investment climate rankings may be difficult to repair and has raised questions over whether the institutions' influential research is subject to shareholder influence.

World Bank revises Malaysia’s economic growth forecast to 3.3% in 2021

This is a downward revision from the 4.5% forecast in June.

IMF chief denies altering World Bank report to appease China

The allegations could damage IMF chief Kristalina Georgieva's reputation, and provide grist for long-time US critics of the multilateral organizations and their treatment of China.

World Bank to finance extra Covid jabs for poorer nations

Countries should also have some flexibility in selecting to buy particular vaccines that align with their preferences.

In World Bank forum, Khairy lashes out at rich nations for ‘extremely immoral’ vaccine hoarding

He says Covax has been 'an abysmal failure' thanks to the conduct of rich countries in withholding vaccine supplies.

Economy to recover this year on effective vaccine deployment, says World Bank

The World Bank expects Malaysia's economic growth this year to range from 5.6 to 6.7%.

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