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World Bank chief Banga unveils new plans to boost lending `firepower` World Bank President Ajay Banga unveiled new plans on Tuesday to stretch the bank's balance sheet and help countries tackle climate change and other challenges, but said a capital increase would still eventually be needed. Banga, a former Mastercard CEO who took over the helm of the World Bank on June 2, announced the new proposals to "make our balance sheet work harder" during a meeting of finance officials from the Group of 20 major economies in Gandhinagar, India. The n...
World Bank chief Banga unveils new plans to boost lending `firepower`
World Bank chief Banga unveils new plans to boost lending `firepower`
Source: Reuters
18/07/2023 9:24:13 AM
US expects Biden`s nominee, Ajay Banga, to be elected as World Bank chief U.S. Treasury Secretary Janet Yellen on Wednesday said she expected the U.S. nominee to head the World Bank, former Mastercard CEO Ajay Banga, to be elected as president of the multilateral development bank. In testimony prepared for the State, Foreign Operations, and Related Programs subcommittee of the House Appropriations Committee, Yellen said Banga would be charged with helping evolve the institution to better address new challenges. "This evolution will help the Bank deliver ...
US expects Biden`s nominee, Ajay Banga, to be elected as World Bank chief
US expects Biden`s nominee, Ajay Banga, to be elected as World Bank chief
Source: Reuters
29/03/2023 3:49:24 PM
Exclusive-G20 host India to propose China, other creditors take haircuts on loans  India is drafting a proposal for G20 countries to help debtor nations badly hit by the economic fallout from the pandemic and Ukraine war, by asking lenders including China, the world's largest sovereign creditor, to take a large haircut on loans. Two Indian government sources told Reuters of the proposal as finance ministers and central bank chiefs from the Group of 20 prepared to meet in Bengaluru next week. The gathering will be the first major event of India's one-year pr...
Exclusive-G20 host India to propose China, other creditors take haircuts on loans
Exclusive-G20 host India to propose China, other creditors take haircuts on loans
Source: Reuters
15/02/2023 2:43:52 PM
World Bank's Malpass sees risk of stagflation, likely recession in Europe World Bank President David Malpass on Wednesday warned that it could take years for global energy production to diversify away from Russia after its invasion of Ukraine, prolonging the risk of stagflation, or a period of low growth and high inflation. In a speech at Stanford University, Malpass said there was an increased likelihood of recession in Europe, while China's growth was slowing sharply and U.S. economic output had contracted in the first half of the year. Those developmen...
World Bank's Malpass sees risk of stagflation, likely recession in Europe
World Bank's Malpass sees risk of stagflation, likely recession in Europe
Source: Reuters
29/09/2022 8:51:40 AM
Indian economy now in recovery mode from COVID-19 pandemic: World Bank president David Malpass World Bank president David Malpass has said the Indian economy that was hit hard by the COVID-19 pandemic is now in recovery mode. He also said that India, which faces huge challenges of integrating more people into the formal sector economy and raising the earnings of the people, has made some progress but that's not enough.  Malpass said ‘Indians were hard hit by the waves of COVID and that's unfortunate. They responded with the huge production of vaccines and there...
Indian economy now in recovery mode from COVID-19 pandemic: World Bank president David Malpass
Indian economy now in recovery mode from COVID-19 pandemic: World Bank president David Malpass
Source: Accord Fintech
14/10/2021 11:01:05 AM
World Bank chief welcomes G20 progress on debt relief World Bank Group President David Malpass said that he was very pleased to see the progress the G20 group of countries has made on debt transparency and debt relief. "These are important, positive steps for development, and I've been glad to see constructive responses from major creditors," Malpass said in remarks to the 12th G20 summit hosted by Saudi Arabia via video conference on Saturday. The G20 endorsed the Debt Service Suspension Initiative (DSSI) in April to help th...
World Bank chief welcomes G20 progress on debt relief
World Bank chief welcomes G20 progress on debt relief
Source: IANS
22/11/2020 2:52:55 PM