The head of the World Bank says he’s “very impressed” with China’s reform plans, playing down concerns over the economic slowdown has been managed.
Jim Yong Kim, president of the World Bank, talks about the importance of getting capital and finance into emerging and developing economies.
Weak growth among major emerging markets will weigh on growth in 2016, with advanced economies solely responsible for a modest expansion.
Rich countries should prepare for levels of mass migration like those hitting Europe, but it could be the key to global economic growth.
Emerging markets have come "completely unhinged," and they will likely drag on growth in the U.S. and Europe, Mohamed El-Erian said.
Back on this week, the World Economic Forum in Davos is as big as ever with lofty ambitions to match.
The interim country strategy, endorsed by the World Bank board at a meeting in Washington, will guide the institution's work in Myanmar, also known as Burma.
SEOUL, Oct 29- The first payouts from South Korea's state pension fund only started in 2008, but faced with the fastest ageing population among developed nations and one of the lowest birthrates, the country needs to deal with a looming funding crunch.
TOKYO-- Despite making progress on getting its fiscal house in order, the United States still has much work to do, Treasury Secretary Timothy Geithner told fellow financial leaders Saturday.
TOKYO-- Sacrificing growth for the sake of austerity could put the entire world economy in jeopardy, the head of the International Monetary Fund told global financial leaders Friday, calling for medium-term work to bring down debt levels and urgent action to get the unemployed back to work.
BEIJING/ TOKYO, Oct 11- China's foreign minister on Thursday defended the withdrawal of its senior delegates from the International Monetary Fund meeting in Tokyo as "completely appropriate" although the head of the multilateral organisation said they would "lose out".
*S&P downgrades Spain; Brazil and South Korea cut rates. TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.
TOKYO-- The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations.
SENDAI, Japan, Oct 10- World Bank President Jim Yong Kim said on Wednesday he had great faith that Japan and China would find a way to cooperate in the future, amid a deterioration in relations between the two countries due to a territorial dispute.
NEW YORK, Oct 5- The former chief prosecutor of the International Criminal Court will lead a review of Bangladesh's investigation of alleged corruption tied to a major bridge project, the World Bank said late on Friday.