The pillars of that order, the International Monetary Fund and its sister institution the World Bank, have been controlled by the United States and Europe since their inception at the Bretton Woods conference in New Hampshire in July 1944. Le Maire said that while Bretton Woods had defined the international economic order of the second half of the 20th century,...
ISLAMABAD, July 14- Pakistan said on Sunday it welcomed a statement by Tethyan Copper expressing willingness for a negotiated settlement after a World Bank tribunal ordered the government to pay $5.8 billion in damages in a dispute over the Reko Diq copper mine. The statement from the attorney general's office came after a World Bank arbitration court ruled...
THE HAGUE, July 12- Prime Minister Mark Rutte said on Friday the Netherlands was pushing a strong candidate of its own to be new International Monetary Fund president- but declined to confirm who. Bank of England governor Mark Carney and World Bank number two Kristalina Gorgieva are other names in the mix. Dijsselbloem chaired the Eurogroup from 2013 until the...
China's lending to other countries has surged in the past decade, causing debt levels to jump dramatically, and as much as half of such debt to developing economies is "hidden," a new study has found.
BUENOS AIRES, July 11- The World Bank said on Thursday it approved a $500 million loan to Argentina, the second disbursement of a billion-dollar financing package it announced last year, the latest foreign cash injection for the country's flailing economy. The aim of the financing package, approved in November 2018, is to help Argentina cover budget needs and...
Uncertainty from trade tensions and slowing global growth is increasing the need for developing countries to pursue reforms that make them more attractive to private investment, World Bank President David Malpass said.
June 28- Uncertainty from trade tensions and slowing global growth is increasing the need for developing countries to pursue reforms that make them more attractive to private investment, World Bank President David Malpass said on Friday. The International Monetary Fund has forecast a similar slowdown, driven primarily by increased tariffs, primarily...
China's lending to other countries, often shrouded in secrecy, is thought to be higher than the amounts that are officially tracked.
Hans Redeker, global head of FX strategy at Morgan Stanley, says geopolitical tensions and the U.S. tariffs on China and Mexico are reversing globalization.
The remarks echoed those from Fed Chairman Jerome Powell who said he is watching the impact the trade war is having on the economic outlook.
LONDON, April 24- More than 40 million people around the world work in artisanal and small-scale mining where minerals including gold, diamonds and cobalt are dug up often by hand, a report by the World Bank and development organisation Pact said on Wednesday. Increasing demand for metals and rising prices have triggered a boom in small-scale mining in recent...
Joseph Stiglitz, former World Bank chief economist and Nobel Prize winner, joins "Closing Bell" to discuss the economy, the 2020 election, and the rise of 'progressive capitalism'.
Trade agreements have advanced corporate interests at the expense of workers in both developed and developing countries.
The Governor of the Bank of Japan, Haruhiko Kuroda, sits down with CNBC's Sara Eisen for an exclusive interview at the IMF World Bank meetings, discussing global growth, monetary policy and the impact of tariffs.
Treasury Secretary Steven Mnuchin said on Saturday a U.S.- China trade agreement would go "way beyond" previous efforts to open China's markets to U.S. companies and hoped that the two sides were "close to the final round" of negotiations. Mnuchin, speaking to reporters on the sidelines of the International Monetary Fund and World Bank spring meetings, said that...
WASHINGTON, April 13- Global financial officials on Saturday said risks to worldwide economic growth were "tilted to the downside" due to factors such as trade tensions, policy uncertainty and the sudden tightening of financial conditions. The statement was released at the spring meetings of the IMF and World Bank in Washington. "The protectionism of some...
WASHINGTON, April 13- Russia's central bank may be in a position to cut interest rates this year, Central Bank Governor Elvira Nabiullina said. "We see the probability to cut the rate this year," Nabiullina told a news conference on Friday on the sidelines of the IMF and World Bank spring meetings in Washington. Annual inflation in Russia is likely to slow in April...
The global economy is likely to pull out of a brief growth slump later this year — with a little help from the world's central banks and from U.S. and Chinese trade negotiators.
In two Twitter posts this week, U.S. President Donald Trump hit out at the European Union, even calling the bloc "a brutal trading partner."
The group, which issued the communique during the spring meetings of the International Monetary Fund and World Bank in Washington, said it stood ready to cooperate in the effort to build "a modern, open, rules-based, non-discriminatory and equitable multilateral trading system. Trade disputes, particularly the one between the United States and China, have been...
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