International Organizations World Bank

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  • *Financing of $2 bln in bonds plus loans from US, IMF, World Bank. BAGHDAD, July 14- Iraq, pressured by lower-than-expected oil prices, will cut non-oil spending in its 2016 budget by 15 percent and take on several billion dollars in international debt, it said in a memo which the International Monetary Fund released on Thursday. Iraq said other financing sources for...

  • Group of workers at a small parts manufacturing factory in China.

    While many investors have shunned emerging markets over their volatility, the post-Brexit world has made them suddenly much more attractive.

  • LAGOS, July 11- The private sector arm of the World Bank said it has granted a $73.5 million loan to support development of a terminal to export fertilizers at Port Harcourt in Nigeria's Niger Delta, which will help increase the country's non-oil exports. The new terminal, a joint venture between Indorama Eleme Petrochemicals Limited and Oil and Industrial...

  • THURSDAY, JUNE 30 NEW DELHI- World Bank Group President Jim Yong Kim holds a press conference to share his thoughts on and highlights of his India visit, including on meetings with Prime Minister Narendra Modi and Finance Minister Arun Jaitley. SEOUL- South Korean Finance Minister Yoo Il-ho to speak on the latest developments of the Korean economy and ways to...

  • TUESDAY, JUNE 28 NEW DELHI- World Bank Group President Jim Yong Kim on a two-day visit to India. ANKARA- Turkey central bank to publish the minutes of its policy meeting held on June 21- 1100 GMT. LONDON- Bank of Zambia Governor Denny Kalyalya, Kenya central bank Deputy Governor Sheila Mbijiwe and African Development Bank former Chief Economist Mthuli Ncube at "...

  • BEIJING, June 26- The China-led Asian Infrastructure Investment Bank will be different from institutions like the World Bank because it has a greater understanding of the developing world's needs, officials said on Sunday at its first annual meeting. Compared with the Asian Development Bank, World Bank and other multilateral development banks, the AIIB's...

  • CANNES, June 24- WPP Chief Executive Officer Sir Martin Sorrell predicted on Friday a slowdown of the world economy after Britain voted in favour of leaving the European Union. My guess is that the next forecast from the World Bank or the IMF is going to be even more conservative. " Sorrell said that WPP, the world's largest advertising company, was in danger of losing...

  • FRIDAY, JUNE 17 MAKATI CITY, Philippines- World Bank lead economists Jan Rutkowski and Aleksandra Posarac to discuss the report "Labor Market Review: Employment and Poverty in the Philippines"- 0300 GMT. HANOI- Asian Development Bank President Takehiko Nakao holds a press conference as he wraps up his three-day Vietnam visit- 0630 GMT. BANGKOK- Bank of Thailand...

  • MONTEVIDEO, June 15- Uruguay's government said on Wednesday it would hedge against oil prices rising above $55 a barrel to avoid exposing the country to volatile swings in the commodity's price. The country, which imports all the crude oil it uses, said it would hedge 6 million barrels of oil with the World Bank, in case crude's price averages more than $55 per...

  • MONTEVIDEO, June 15- Uruguay's government said on Wednesday it would hedge 6 million barrels of oil for payout if the price of crude rises above $55 per barrel as it tries to limit exposure to volatile petroleum prices. This time, the $16 million agreement is with the World Bank. Risk would be transferred from the World Bank to the market, officials said at a press...

  • LIMA, June 10- Incoming Peruvian President Pedro Pablo Kuczynski has scratched his proposal to widen the fiscal deficit to 3 percent of gross domestic product after credit rating agencies expressed concern, his pick for finance minister Alfredo Thorne said on Friday. Thorne, who like Kuczynski is a former investment banker and World Bank economist, said the...

  • Peruvian presidential candidate Pedro Pablo Kuczynski (R) of the 'Peruanos por el Kambio' (PPK-Peruvians for Change) party, flanked by his wife Nancy Lange, makes a victory announcement in Lima on June 9, 2016.

    Former World Bank economist Pedro Pablo Kuczynski won 41,438 more votes than Keiko Fujimori in Peru's photo finish presidential election.

  • Gold

    Gold rose more than one percent to a near three-week high on Wednesday, bolstered by a weaker dollar.

  • *World Bank cuts economic growth forecasts. Mixed Chinese economic data, along with a decision by the World Bank to slash its 2016 global economic growth forecast, also gave some traders a reason to take a negative view on the outlook for stock markets. "The Chinese export figures looked a bit disappointing, and the World Bank's cut to its forecasts is another...

  • World Bank cuts outlook

    World Bank Development Prospects Director Ayhan Kose weighs in on worrying global trends, commodity markets, outlook for developing economies and global risks.

  • *World Bank cuts economic growth forecasts. Mixed Chinese economic data, along with a decision by the World Bank to slash its 2016 global economic growth forecast, also gave some traders a reason to take a negative view on the outlook for stock markets. "The Chinese export figures looked a bit disappointing, and the World Bank's cut to its forecasts is another...

  • An employee walks outside the World Bank headquarters in Washington, United States.

    The World Bank slashed its 2016 global growth forecast on Wednesday to 2.4 percent from the 2.9 percent estimated in January.

  • World Bank

    The growth outlook cuts are mostly for commodity-exporting EMs, but things could improve as commodity prices rebound, says TAC Economics' Thierry Apoteker.

  • Commodity-importing emerging market countries are faring better, but the benefits of lower energy and other goods have been slow to materialize, the World Bank said. "As advanced economies struggle to gain traction, most economies in South and East Asia are growing solidly, as are commodity-importing emerging economies around the world," said World Bank Chief...

  • A boy works at a seafood export factory in Hlaingthaya Industrial Zone, outside Yangon, Myanmar February 19, 2016. One in five children in Myanmar aged 10-17 go to work instead of school.

    Slave labor and trafficking is rampant in the fishing industry. Here's what can be done to stop it, say top WEF officials.