During meeting with Banga a day before former Mastercard CEO takes office at World Bank, Yellen ‘conveyed her strong desire for Treasury to continue close collaboration’ with him.
Banga, nominated for the post by US President Joe Biden, will take over the role on 2 June. He was the sole contender to replace departing chief David Malpass whose term ends next month.
The bank's latest World Development Report said that about 184 million people across the world now live in countries where they lack citizenship, 43% in low- and middle-income countries.
Finance Minister Ishaq Dar was scheduled to attend meetings from 10 April and see top IMF officials and multilateral creditors in a bid to secure stalled funding.
World Bank officials and economists say that while govt expenditure in infrastructure is encouraging some private investment, reforms in land, labour, and capital market laws are needed to boost confidence.
World Bank’s India Development Update does, however, say that inflation will ease, and that strong services exports will mitigate some external factors expected to slow growth.
Spillover from recent turmoil in financial markets in US, Europe pose risk to short-term investment flows to emerging markets, including India, said World Bank economist.
World Bank points to declining investment growth in the 2011-21 period. Policies promoting investment, improved human capital & faster labour supply could help reverse slowdown.
BJP’s fate in the second phase of 2024 Lok Sabha election will be decided in Karnataka, Rajasthan, and Maharashtra, where it performed very well in 2019 but faces a stiff competition now.
The private lender's shares tumbled to be top Nifty 50 loser after India's central bank barred it from taking on new customers through online and mobile banking channels.
Another addition to military cooperation has been the Strategic Space Dialogue, inaugurated in Paris in 2023. Last month, India participated as an observer to France’s AsterX.
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