International Organizations World Bank

  • WASHINGTON, Oct 16- World Bank President David Malpass said the development lender will likely again downgrade its global growth outlook amid uncertainty over falling trade and investment flows, but he stopped short of calling on the United States and China to resolve their trade war. "As we look at the data today, we will probably be looking at a further...

  • WORLD BANK LIKELY TO FURTHER DOWNGRADE ITS ECONOMIC FORECASTS AFTER REDUCING GLOBAL GROWTH OUTLOOK TO 2.6% IN JUNE-WORLD BANK PRESIDENT MALPASS.

  • WASHINGTON, Oct 16- The International Monetary Fund heightened its warnings for the corporate debt market on Wednesday, as investors search for richer returns in riskier assets after recent interest rate cuts by central banks. The IMF, whose fall meetings with the World Bank begin in Washington this week, also warned the main drivers of downside risks to the...

  • WASHINGTON, Oct 16- The International Monetary Fund heightened its warnings for the corporate debt market on Wednesday, as investors search for richer returns in riskier assets after recent interest rate cuts by central banks. The IMF, whose fall meetings with the World Bank begin in Washington this week, also warned the main drivers of downside risks to the...

  • DAR ES SALAAM, Oct 16- Tanzania has been ordered by a World Bank arbitration court to pay $185 million to the Hong Kong subsidiary of Standard Chartered for breaching an energy contract. "Neither the government nor TANESCO, have a legal liability in these cases," Tanzania government spokesman Hassan Abbasi said on Twitter on Wednesday. Tanzania faces at least two...

  • WASHINGTON, Oct 15- The U.S.- China trade war will cut 2019 global growth to its slowest pace since the 2008-2009 financial crisis, the International Monetary Fund warned on Tuesday, but said output would rebound if their dueling tariffs were removed. The forecasts set a gloomy backdrop for the IMF and World Bank annual meetings this week in Washington, the first...

  • ALGIERS, Oct 10- The World Bank said on Thursday it expected Algeria's economy to grow by 1.3% this year, down from 1.5% in 2018 and lower than the government's forecast of 2.6%, due to "political uncertainty". A political crisis following mass protests has hurt the OPEC member country's economy, which relies heavily on oil and gas. Algeria plans to cut public...

  • *U.S.- China trade dispute may force fiscal, monetary stimulus. BANGKOK, Oct 10- Asia Pacific economies are expected to slow this year due to uncertainty around U.S.- China trade tensions and slowdowns in major global economies could further hurt the region's exports, a World Bank report said on Thursday. Countries with proximity to China as manufacturing...

  • MOSCOW, Oct 9- The World Bank said on Wednesday it has lowered Russia's economic growth forecasts for this year to 1% from 1.2%, revising down the country's economic outlook for the fourth time so far this year. The World Bank's revision of Russia's gross domestic product growth forecast brings it closer to the assessment of the Bank of Russia that lowered GDP...

  • The seal of the International Monetary Fund(IMF) is seen outside of the headquarters building in Washington, DC on April 8, 2019.

    Bulgarian economist Kristalina Georgieva was confirmed on Wednesday as managing director of the IMF, becoming the first person from an emerging economy to head the global lender.

  • A Chinese national flag seen in front of Oriental Pearl Tower in Shanghai.

    As China marks the 70th anniversary of its founding on Oct. 1, CNBC takes a look at the rise of the Asian giant through the years.

  • A Chinese national flag flies in front of a building under construction in the central business district of Beijing, China.

    China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.

  • *Some 70% of Nigerian firms say they use generators- World Bank. LAGOS, Sept 17- Nigeria's frenetic commercial capital, Lagos, is plunged into darkness several times a day. Nigeria is one of the world's largest economies where businesses rely so heavily on diesel-powered generators.

  • Scooter drivers in Ho Chi Minh City on November 01, 2016.

    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...