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By Agence France Presse A rapidly growing gap between rich and poor in many developing East Asian nations is threatening the foundation for the region’s economic success, the World Bank said Monday. “The whole basis for East Asia’s success was this sense that everything was fair — you worked hard, you got ahead — but that is beginning to unravel a little bit,” said Sudhir Shetty, the bank’s chief economist for East Asia and […]
SINGAPORE, Singapore (AFP) — The World Bank warned Wednesday that surging tensions over North Korea’s nuclear program could be a threat to robust growth in Asia. The bank predicted that developing East Asia and the Pacific would expand 6.4 percent this year, 6.2 percent next year and 6.1 percent in 2019, slightly better than their last forecasts in April. “Developing East Asia and the Pacific is doing better than most other developing regions of the […]
(Reuters) – The World Bank on Tuesday (June 13) approved financing worth more than $500 million for Afghanistan to support a string of projects to boost the economy, help improve service delivery in five cities, and support Afghan refugees sent back from Pakistan. The bank said the six grants, including donor money, worth some $520 million, would help the Afghan government “at a time of uncertainty when risks to the economy are significant.” The international […]
WASHINGTON, United States (AFP) — The global economy is set to post solid growth this year, amid improving world trade and better performance by large emerging markets, but key risks could still threaten the outlook, the World Bank said Sunday. Rising trade protectionism and policy uncertainty, primarily in the United States under President Donald Trump, pose important cautions for the outlook. For the first time in four years, the latest edition of the World Bank’s […]
(Eagle News) – Masayang tinanggap ng Malacañang ang positibong pagtaya ng International Monetary Fund (IMF) sa takbo ng ekonomiya ng bansa ngayong taon. Una nang inihayag ni IMF Resident Representative to the Philippines Shanaka Jayanath Peiris na naniniwala silang makakamit ng Pilipinas ang target nitong Gross Domestic Product (GDP) na 6.8% ngayong 2017 dahil sa matatag na fiscal spending ng bansa. Sinabi ni Presidential Spokesman Ernersto Abella, magiging posible ito sa pamamagitan ng mas pinalakas […]
QUEZON City, Philippines – The World Bank expressed confidence on the continued growth of the Philippine economy despite the concern of investors regarding the unconventional speeches and pronouncements of President Rodrigo Duterte. World Bank said that the Philippines may have a higher growth rate if the Duterte administration would push through with its infrastructure projects.
The World Bank has retained its gross domestic product (GDP) growth forecast for the Philippines at 6.4 percent in 2016 and at 6.2 percent in 2017 and 2018. https://youtu.be/xG8Vn-ZuJQw
WASHINGTON, United States (AFP) — The World Bank is indirectly financing a boom in some of Asia’s dirtiest coal-fired power generation despite commitments to end most funding for the sector, a development advocacy group charged Monday. The power plants, which contribute to climate change and deforestation as well as premature deaths due to illness, are cropping up from Bangladesh to the Philippines, all with financing provided by financial intermediaries supported by the Bank, said a […]
WASHINGTON, United States (AFP) — World Bank chief Jim Yong Kim will seek a second term of office, the global development lender said Tuesday as it announced the start of a selection process for the presidency. Kim’s bid to remain as president comes in the face a rare public rebuke from the Bank’s rank-and-file, who earlier this month declared that the institution faced a “crisis of leadership.” “The executive directors expressed unanimous support for an open, […]
QUEZON CITY, June 14 – To show to a wider audience the positive changes brought about by Pantawid Pamilyang Pilipino Program on the lives of the 4.4 million family-beneficiaries, the Department of Social Welfare and Development (DSWD) and the World Bank (WB) Group will launch a photography exhibit and documentary film called “Malaya Kang Mangarap” (Dreaming is Free), on June 15, 2016, 3:00 PM, at the Ground Floor of Ayala Museum, Greenbelt Park, Makati City. The […]
QUEZON City, Philippines – The World Bank raised the bar for its oil price forecast for 2016, adding that the oil price is already recovering from over-supply. According to the World Bank, oil will be priced at $41. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos)
Britain said on Monday a ruling expected in the next few months in an international arbitration case the Philippines has brought against China’s South China Sea claims must be binding. Hugo Swire, British minister of state responsible for East Asia, also said Britain saw the ruling from the Permanent Court of Arbitration in The Hague as an opportunity for China and the Philippines to renewed dialogue over their territorial disputes. China claims virtually all of […]
