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Tuesday, May 7, 2024
TopicWorld Bank

Topic: World Bank

World Bank expects private creditors to join G20 in providing debt relief

The G-20 in April agreed to allow a temporary suspension of debt repayment for more than 70 impoverished nations.

India could see millions pushed into extreme poverty due to pandemic: World Bank analysis

South Asia may see 42 mn people being pushed into extreme poverty, according to World Bank analysis, as the pandemic leads to longer shutdowns, increase in costs.

This recession is different & India can bounce back much faster than in the past

The recession this time isn’t driven by inherent weakness in economies or factors like oil shocks. It’s also synchronous. This could quicken India’s recovery.

World Bank forecasts worst recession in eight decades due to coronavirus

Global gross domestic product will probably shrink 5.2% in 2020, the World Bank said in its semi-annual Global Economic Prospects report.

Indian economy to shrink by 3.2% in fiscal year 2020-21: World Bank

While the World Bank downgraded its projection of India by a massive negative 9%, it also said the economy is expected to bounce back in 2021.

Two senior IAS officers in PMO appointed to World Bank, World Trade Organisation 

While IAS officer Rajiv Topno will serve as senior advisor in World Bank, Brajendra Navnit will be ambassador to the Permanent Mission for India (PMI) at WTO. 

I will do any job I find – How India’s desperately poor hope to get out of Covid misery

At least 49 million people across the world are expected to plunge into ‘extreme poverty’ – some 12 million of them in India – this year.

World Bank restores budgetary support to Pakistan after 4 years, gives $500 million loan

World Bank Country Director for Pakistan said the Covid-19 crisis was impacting daily life through economic disruptions along with additional stress on public services.

Harvard’s Carmen Reinhart named World Bank Chief Economist

Reinhart joins the World Bank at a time when President David Malpass has expressed concern that 60 million people may fall into extreme poverty due to Covid-19.

Pakistan plans to seek $2 billion in new loans from World Bank, ADB, say reports

The Express Tribune says the new plans come as ADB and Pakistan finalised a USD 305 million emergency Covid-19 loan for the country.

On Camera

AI is doing the brave work humans are still squeamish about—using they/them pronouns

The hullaballoo over LinkedIn bot’s pronoun use comes on a day when CJI DY Chandrachud used the phrase ‘pregnant person’ in his judgment. It is a thing now. Get with the programme.

Air India reduces baggage allowance by 5-15 kg, bringing it in line with rest of industry

Air India’s new policy, effective from 2 May, introduces new weight limits for tickets in each of the different 'fare families' — Comfort, Comfort Plus, and Flex.

Indian Coast Guard seizes Iranian fishing vessel, rescues six Indian crew members

The ICG said in a statement that the boat was seized and brought to Kochi for further investigation on May 6.

Frontrunner is letting the challenger define this poll campaign. Modi still hasn’t found a big theme

A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.