Washington: After a broad-based deceleration in the initial quarters of this fiscal year, India’s growth rate is projected to fall to 6 per cent, the World Bank said on Sunday. In 2018-19, the growth rate of the country stood at 6.9 per cent. However, the bank in its latest edition of the South Asia Economic […]
New Delhi: The outlook for the Indian economy for the current fiscal seems to get bleaker by the day as major economic forums and institutions have of late revised the country’s GDP forecast downwards, with the International Monetary Fund (IMF) being the latest in the fray. The IMF in its World Economic Outlook released on […]
Washington: India jumped 14 places to the 63rd position on the World Bank’s ease of doing business ranking released on Thursday, riding high on the government’s flagship ‘Make in India’ scheme and other reforms attracting foreign investment. The country also figured among the top 10 performers on the list for the third time in a […]
Washington: India has jumped 14 places to take the 63rd position on the World Bank’s ease of doing business ranking released on Thursday, figuring among the top 10 performers on the list for the third time in a row mainly due to the successful implementation of the Insolvency and Bankruptcy Code. The country was 77th […]
Washington: Three top Republican senators have tabled a legislation in the US Senate to prevent World Bank from lending to China on projects that would be used against religious and ethnic minorities. The move comes following reports of a questionable USD50 million World Bank loan to a Chinese organisation associated with the forcible internment of […]
New Delhi: World Bank has cautioned India that credit flow from the non-bank financial companies (NBFC) is expected to linger while growth will remain subdued at 5 per cent for the current fiscal. “In India, where weakness in credit from non-bank financial companies is expected to linger, growth is projected to slow to 5 per cent […]
Washington: The World Bank has committed $12 billion in aid for developing countries grappling with the spread of the coronavirus. The emergency package includes low-cost loans, grants and technical assistance. The action comes as leaders around the world pledge to shield their countries from the economic impact of the outbreak, the BBC reported on Wednesday. […]
Washington: The World Bank has announced increasing to USD14 billion the amount of fast-track financing to assist companies and countries in their efforts to respond to the rapid spread of COVID-19, adding USD2 billion to the initial package. The announcement came amid fear of a major global recession in the wake of the coronavirus that […]
United Nations: The World Bank has announced that it has approved $1 billion in emergency financing for India to fight the COVID-19 (coronavirus) pandemic. The assistance will support better screening, contact tracing, and laboratory diagnostics, procurement of personal protective equipment, creation of new isolation wards, the bank said on Thursday. It is the bulk of […]
Washington: The World Bank on Sunday said the coronavirus outbreak has severely disrupted the Indian economy, magnifying pre-existing risks to its outlook. In its South Asia Economic Update: Impact of COVID-19 , the World Bank estimated the Indian economy to decelerate to 5 per cent in 2020 and projected a sharp growth deceleration in fiscal […]
Washington: Global COVID-19 deaths surpassed 150,000 with over 2.2 million infections on Friday as international institutions are intensifying their collective efforts on battling the pandemic. A total of 150,948 people have died of the disease as of 3:30 p.m. (1930 GMT) among 2,214,861 cases worldwide, according to the Center for Systems Science and Engineering (CSSE) […]
Washington: The International Monetary Fund (IMF) and the World Bank Group (WBG) have called on countries to keep trade open as the world battles the COVID-19 pandemic, warning that export controls on medical supplies and other essentials could backfire. At a virtual press conference during the just-concluded spring meetings of the two multilateral institutions, IMF […]
New Delhi: The Asian Infrastructure Investment Bank’s (The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors has approved a loan of $500 million to support India’s fight against the coronavirus pandemic by strengthening the country’s health system. Titled ‘India COVID-19 Emergency Response and Health Systems Preparedness Project’, it is funded by AIIB’s COVID-19 Crisis Recovery […]
New Delhi: The World Bank’s Board of Executive Directors today approved a $1 billion accelerating India’s COVID-19 Social Protection Response Program to support India’s efforts at providing social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic. This takes the total commitment from the Bank towards emergency COVID-19 response in India […]
Washington: The global economy is on track to shrink by 5.2 per cent this year amid the COVID-19 pandemic, the deepest recession since the Second World War, the World Bank Group said in its latest Global Economic Prospects. Economic activity in advanced economies is anticipated to contract 7 per cent in 2020 as domestic demand […]
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