India’s potential growth could benefit from accelerated implementation of an already ambitious reform agenda, the World Bank said in a new report that warns that the global economy faces the prospect of a “lost decade” on account of nearly all drivers of economic progress in recent history fading. The report titled ‘Falling Long-Term Growth Prospects: … Read more
New Delhi: India’s potential economic growth could get a boost if government accelerates implementation of its ambitious reform agenda, World Bank said in a report that also outlined policy prescriptions for banking and infrastructure sectors. “Addressing the aftermath of financial sector distress could unlock significant growth,” the multilateral lender said in its ‘Falling long-term growth … Read more
Emerging markets would require over $53 trillion for infrastructure financing, but countries need to develop a new long-term financing model, said Auguste Tano Kouame, country director, World Bank. Kouame said that the Indian government had done well, and reforms such as the National Infrastructure Pipeline and Production-Linked Incentive schemes are steps in the right direction. … Read more
In a letter addressed to his teams, the President of the World Bank David Malpass explains that the institution was not able to continue its missions on the spot ” considering the situation “, while ” the safety and inclusion of migrants and minorities are part of the core values of inclusion, respect and anti-racism … Read more
Finance Minister Nirmala Sitharaman on Friday highlighted rising debt vulnerabilities in many developing countries and sought views from G20 member nations on ‘multilateral coordination’ for managing the burden. Speaking at inaugural session of the G20 finance ministers and central bank governors (FMCBG) meeting, Sitharaman also sought views on how multilateral development banks, like the IMF … Read more
The World Bank will “provide as much concessionality to the debt treatment” for distressed economies as possible, its president told a meeting with the International Monetary Fund, India and other creditor nations on Saturday. “The World Bank is committed to providing net positive flows in a way that maximizes concessionality in the restructuring process,” David … Read more