The "robust" growth of emerging markets has been the linchpin holding up the global economy at a time when advanced countries are threatening to unravel it, according to Oxford professor Ian Goldin.
WASHINGTON, Sept 6- Bulgarian economist Kristalina Georgieva was expected to be the only candidate considered to lead the International Monetary Fund as a nomination deadline drew to a close on Friday, two people familiar with the process said. The World Bank chief executive's only known potential challenger to be the next IMF managing director, former...
BP's forecast is even lower than current predictions from the International Energy Agency, OPEC and the U.S. Energy Information Administration. Global GDP increased by 3.0% in 2018 but is forecast to slow to just 2.6% in 2019, according to the World Bank. Since the World Bank produced its forecasts three months ago, however, most indicators have pointed to a...
CARACAS, Sept 2- A World Bank arbitration panel lowered an initial $8.7 billion award to U.S. oil company ConocoPhillips as compensation for Venezuela's 2007 expropriation of its assets to $8.5 billion, according to a decision dated Aug. 29 posted online. Guaido has prioritized protecting Venezuela's overseas assets since being recognized as the country's...
CARACAS, Sept 2- A World Bank arbitration panel lowered an initial $8.7 billion award to U.S. oil company ConocoPhillips as compensation for Venezuela's 2007 expropriation of its assets to $8.5 billion, according to a decision dated August 29 posted online. The new award will represent savings of $200 million from the first award in April, Venezuelan...
WASHINGTON, Aug 21- The International Monetary Fund said on Wednesday its executive board has recommended the removal of the age limit for its managing director, a move needed for European nominee Kristalina Georgieva to be approved for the job. It would bring the IMF in line with the World Bank Group, which has no leadership age limit. Georgieva, who has taken a...
WASHINGTON, Aug 2- World Bank Chief Executive Officer Kristalina Georgieva said on Friday that she will temporarily relinquish her World Bank responsibilities after being nominated as a candidate to lead the International Monetary Fund. Georgieva, a Bulgarian national, said on Twitter that after consulting with the World Bank Chief ethics officer, she has...
BRUSSELS, Aug 2- Bulgarian economist Kristalina Georgieva has been named European candidate to lead the International Monetary Fund after years of experience at its twin organisation the World Bank. At the top of her Twitter profile, she has posted a black-and-white picture of her family, with the comment: "From a village in Bulgaria to CEO of the World Bank- this...
BRUSSELS, July 26- European Union governments are working to select one European candidate from a list of five names to succeed Christine Lagarde at the helm of the International Monetary Fund, a French official said on Friday. Bulgaria's Kristalina Georgieva, chief executive of the World Bank, has been added to a list of four names that were discussed by EU...
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...
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