Three dark clouds over the Bretton Woods twins

Synopsis: In light of the latest issues of the pandemic, economic recovery etc., how Bretton Woods can remain relevant. Introduction Time and again, Bretton Woods institutions (IMF and World Bank) have been accused of bias towards the West, more specifically with regard to the USA. Recently, the ‘Fund-Bank’ annual meeting discussed the issues plaguing the… Continue reading Three dark clouds over the Bretton Woods twins

There’s an urgent need to clean up the World Bank and IMF

Synopsis: Wrongdoings of WB and IMF, unsuitability of heads of these institutions, various steps that these institutions need to take to maintain their credibility and legitimacy  Introduction  Head of the World Bank and IMF are selected under the dual monopoly selection procedure wherein only an American can head the World Bank and only a European can head the… Continue reading There’s an urgent need to clean up the World Bank and IMF

The end of Ease of Doing Business Rankings: Reasons and implications – Explained, pointwise

For 7PM Editorial Archives click HERE → Introduction On September 16, the World Bank Group scrapped its flagship publication, the ‘Doing Business’ report. This report publishes the influential annual ranking of countries on the Ease of Doing Business (EDB) index. The sudden announcement that the World Bank would end its most famous report, sent some shock waves through the business… Continue reading The end of Ease of Doing Business Rankings: Reasons and implications – Explained, pointwise

World Bank discontinues Doing Business rankings

What is the News? The World Bank Group has recently decided to discontinue publication of its ‘Doing Business’ rankings. About the Doing Business Report Doing Business report measures regulations across the 190 economies in 12 business regulatory areas to assess the business environment in each economy. Read more: World Bank’s Doing Business Report What led to… Continue reading World Bank discontinues Doing Business rankings

Government signs US$ 250 Million Loan Agreement for Second phase of Dam Rehabilitation & Improvement Project (DRIP)

SOURCE : PIB What Is The News? In order to enhance water security in the country and support sustainable development, the Government of India today signed a $250 million loan agreement with World Bank for the Second Phase of Dam Rehabilitation and Improvement Project (DRIP Phase II) to make existing dams and communities safe and… Continue reading Government signs US$ 250 Million Loan Agreement for Second phase of Dam Rehabilitation & Improvement Project (DRIP)

World Bank’s Global Economic Prospects (GEP)

Source: Livemint Syllabus:  Indian Economy and issues relating to planning, mobilization, of resources Synopsis: The World Bank releases a Global Economic Prospects (GEP) report twice a year. It is the most important source for evaluating the current and future outlook for emerging markets and developing economies (EMDEs). The recently released edition is significant because of the… Continue reading World Bank’s Global Economic Prospects (GEP)

One in six children living in extreme poverty: World Bank and UNICEF

News: World Bank Group and UN Children’s Fund(UNICEF) has released a report titled “Global Estimate of Children in Monetary Poverty”. Facts: Key Highlights from the report: An estimated 1 in 6 children globally lived in extreme poverty(surviving on less than $1.90 a day) before the pandemic and this is set to worsen significantly. Sub Saharan Africa… Continue reading One in six children living in extreme poverty: World Bank and UNICEF

Poverty and Shared Prosperity Report: World Bank

News: The World Bank has released its biennial Poverty and Shared Prosperity Report. Facts: About the report: The report aims to provide the latest and most accurate estimates on trends in global poverty and shared prosperity. Key takeaways: Global extreme poverty is expected to rise in 2020 for the first time in over 20 years… Continue reading Poverty and Shared Prosperity Report: World Bank

World Bank to give $750 million funding support to MSMEs

News: The World Bank’s Board of Executive Directors has approved a $750 million MSME Emergency Response program for India. Facts: MSME Emergency Response program: It aims to support increased flow of finance into the hands of micro, small, and medium enterprises (MSMEs) which are severely impacted by the COVID-19 crisis. Impact: It will address the… Continue reading World Bank to give $750 million funding support to MSMEs

World Bank approves fresh funds for Ganga cleaning mission

News: The World Bank has approved a five-year loan to the Namami Ganga or the National Mission for Clean Ganga(NMCG) under its second National Ganga River Basin project. Facts: National Ganga River Basin project: It is a World Bank assisted project approved in the year 2011. Aim: To help rejuvenate the Ganga River by helping… Continue reading World Bank approves fresh funds for Ganga cleaning mission