While India’s improvement in the innovation index is welcome, the controversy over World Bank’s EoDB ranking should make us cautious about such catch-all metrics
The World Bank’s ‘Doing Business’ report ranks countries based on the business and investment climate.
The World Bank had in May projected that the Indian economy will contract by 3.2 percent in FY21 and rebound slowly in the next financial year
The reform of the BIS board will go a long way to make the BIS a truly global institution. It will also act as a benchmark for other global financial institutions.
In a joint statement, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass said they were recommending the annual meetings, set for October 12-18, be held in a "primarily virtual format."
Developing countries and emerging markets face dire economic consequences from the pandemic given inadequate healthcare systems, a lack of resources to offset the impact of widespread lockdowns and, in some cases, a collapse in commodity prices.
Depending on when the expats are asked to leave the country, Kerala’s remittances economy could see a shrinkage of up to $4 billion — about 25 percent of its total inward remittances
According to the release, the Ganga Basin provides over one-third of India's surface water, includes the country's largest irrigated area, and is key to India's water and food security.
During the 2020 fiscal (July 2019-June 2020), World Bank has extended USD 5.13 billion loans to India-- which is the highest in a decade. This includes USD 2.75 billion given in three months in response to the COVID-19 pandemic.
The assistance will help strengthen the management of the river basin which is home to more than 500 million people, the World Bank said in a statement.
PPP of the rupee per dollar at the gross domestic product (GDP) level rose to 20.65 in 2017 from 15.55 in 2011, while the exchange rate of a dollar to a rupee rose to 65.12 from 46.67 during the period.
If the coronavirus re-emerges later in the year, however, the global economy could shrink 7.6 percent, the OECD said.
In this edition of Business Insight, Moneycontrol's Gaurav Choudhury shares his insight on the World Bank report and will India slip into a full-blown recession
The COVID-19 recession is the first since 1870 to be triggered solely by a pandemic, World Bank President David Malpass said in his foreword to the latest edition of the Global Economic Prospect report released on Monday.
The World Bank revised its January projection on India by a massive -9% for 2020 and -3% for 2021.
Topno, a 1996 batch IAS officer of Gujarat cadre, will have three years tenure, it said.
In analytical chapters of its new Global Economic Prospects report, the bank said that the average emerging market country suffering a financial crisis could see potential output fall by 8 percent over a five year period, with lost output for developing oil exporters falling 11 percent.
The scope and speed with which the COVID-19 pandemic and economic shutdowns have devastated the poor around the world are unprecedented in modern times, World Bank Group President David Malpass said.
The COVID-19 pandemic brings a new perspective to the Sen vs Bhagwati 2014 debate.
“Political risks are high because COVID-19 response adds uncertainty to the relations among the federating units,” said the World Bank documents.
Jha's appointment comes at a time when Cyclone Amphan has badly hit West Bengal, Orissa in India and Bangladesh.
In an interactive session organised by industry body PHD Chamber, Ahmad said the economies of India and some neighbouring countries remain largely informal unlike the developed countries of the US and that in Europe.
"The pandemic and shutdown of advanced economies could push as many as 60 million people into extreme poverty -- erasing much of the recent progress made in poverty alleviation,” World Bank President David Malpass told reporters during a conference call on Tuesday.
The programs will reinforce healthcare systems; and also help procure vital life-saving medical equipment and supplies. And these programs contain mechanisms that allow other donors to rapidly expand the program, World Bank President David Malpass added.
The response to the COVID-19 pandemic around the world has required governments around the world to introduce social distancing and lockdowns in unprecedented ways, said Junaid Ahmad, World Bank Country Director in India in a webinar interaction with the media.