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(Eagle News) – The Philippines ranked 95 in the Ease of Doing Business latest report of the World Bank, jumping 29 notches from the previous ranking of 124th out of 190 economies. In the Doing Business 2020 Report, the Philippines was among the 190 economies included by the World Bank in its study. The Philippines got an Ease of Doing Business (EODB) score of 62.8 in the 2020 report, an improvement over its grade […]
by Heather SCOTT and Delphine TOUITOU WASHINGTON, United States (AFP) — As global trade tensions persist, investments are put on hold and without that cash to boost economic growth, poverty could surge, the World Bank’s chief economist warned Tuesday. Without growth “inevitably, people will struggle,” Pinelopi Koujianou Goldberg said in an interview with AFP. The US-China trade war — involving hundreds of billions of dollars in two-way trade — is at the center of global […]
by Douglas Gillison Agence France-Presse WASHINGTON, United States (AFP) – World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire. The decision is likely to give US President Donald Trump decisive influence over the next leadership of the institution although Washington’s control over the 189-member global development lender has faced mounting criticism. “It has been a great honor to […]
by Douglas Gillison Agence France-Presse WASHINGTON, United States (AFP) — World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire. The decision is likely to give US President Donald Trump decisive influence over the next leadership of the institution although Washington’s control over the 189-member global development lender has faced mounting criticism. “It has been a great honor to […]
Country still “remains one of the fastest-growing economies in East Asia and Pacific Region,” though, WB says (Eagle News) — The World Bank has downgraded the Philippines’ economic outlook for 2019, even as it noted that the Southeast Asian country remains “one of the fastest-growing economies in the East Asia and Pacific Region.” In a statement, the WB forecast the country’s economic growth for next year at 6.5 percent, from the previous outlook of 6.7 […]
by Amélie BOTTOLLIER-DEPOIS Agence France-Presse KATOWICE, Poland (AFP) — The World Bank on Monday unveiled $200 billion in climate action investment for 2021-25, adding this amounts to a doubling of its current five-year funding. The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a “significantly ramped up ambition” to tackle climate change, “sending an important signal to the wider global community to do the […]
by Amélie BOTTOLLIER-DEPOIS Agence France Presse KATOWICE, Poland (AFP) — The World Bank on Monday unveiled $200 billion in climate action investment for 2021-25, adding this amounts to a doubling of its current five-year funding. The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a “significantly ramped up ambition” to tackle climate change, “sending an important signal to the wider global community to do […]
WASHINGTON, United States — Payments from immigrants back to their home countries, including the Philippines, rebounded to reach a new record in 2017 but the costs of transferring funds also increased, the World Bank said Monday. The stronger-than-expected recovery in remittances — payments that are key to supporting the economies of many poor countries — was driven by growth in Europe, Russia and the United States, the World Bank said in a report. The bank estimates that […]
WASHINGTON, United States (AFP) — The World Bank’s chief economist resigned on Wednesday amid a scandal that erupted when he raised questions about how the institution was ranking countries — especially Chile — in a key report. World Bank President Jim Kim announced that Paul Romer was stepping down immediately from the post he had held since October 2016, but did not specify the reason for his exit. In his only reference to the recent […]
(Eagle News) — The World Bank has approved $170 million of additional financing aimed at “boost(ing) rural incomes and reduc(ing) poverty” in the country. In a statement on Friday, the WB said the additional funds would be used for the Philippine Rural Development Project that will also “support the development of rural infrastructure such as roads, bridges, communal irrigation systems, potable water supply, solar dryers, greenhouses, and composting facilities.” The PRDP is a joint project of […]
(Eagle News) — The Philippines will continue to be the “fastest-growing economy” in the Association of Southeast Asian Nations in the next three years. This is according to the World Bank’s January 2018 Global Economic Prospects report released on Wednesday. According to the WB, the country’s Gross Domestic Product was expected to grow 6.7 percent in 2018 and 2019. In 2020, the growth rate is expected to be 6.5 percent. The WB said the forecast […]
Growth forecast for 2018 still at 6.7 percent (Eagle News) — The World Bank has raised its growth forecast for the Philippines for this year to 6.7 percent. In a statement, the bank said the 0.1 percent increase was following “a stronger than expected growth of 6.9 percent in the third quarter and a revision of GDP growth for the second quarter, from 6.5 to 6.7 percent..” “Continued global economic recovery gaining steam has led […]
