Page 100 - Common Framework News Today

Faced with surging inflation that is hitting poor families especially hard, which has sparked unrest in some countries, policymakers should take immediate steps to offset the pain with targeted and temporary relief, IMF chief economist Pierre-Olivier Gourinchas said Tuesday. "We've seen already in some countries people protesting when they see the price of food or basic items

We see the problem for many countries getting worse and the tools to deal with this problem are disappearing, Kristalina Georgieva said.

The heads of the world's biggest international finance institutions sounded the alarm about record global debt levels, with the International Monetary Fund's chief saying options to deal with the billions owed by poor nations are disappearing. Both organizations have for months flagged risks from rising debt levels in emerging markets, particularly as interest rates start to

The World Bank board operates on the basis of reaching decisions by consensus. This means that any executive director must earn the respect of their colleagues to affect change.

<p><span>The United States, in the strongest terms, condemns Russia’s illegal, unprovoked war against Ukraine.  Russia’s invasion is an assault on fundamental international rules and norms and threatens the core of the international order.  The United States stands resolutely with the Ukrainian government and the Ukrainian people.  Russia’s war against Ukraine has imperiled the global recovery from the pandemic and aggravated i...

THE World Bank called on countries to reduce trade barriers to encourage the production of food, energy and fertilizer to prevent millions from joining the ranks of the poor and going hungry. In a briefing, World Bank Group President David Malpass expressed concern that countries have imposed quotas, high import…

Other factors include rising inflation and the lingering effects of the Covid-19 pandemic. . Read more at straitstimes.com.

The report says the crises of extreme inequality and inflation, accelerated by the war in Ukraine and COVID-19, are converging to create a catastrophe for the world’s poorest people “unprecedented in living memory.”

Ahead of this year’s Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), President of the WBG, David Malpass, yesterday said he was “deeply concerned” about the impacts of overlapping economic crises on developing countries.

The World Bank cut its forecast for global economic expansion this year on Russia’s invasion of Ukraine and is planning to mobilize a funding package bigger than the COVID-19 response for nations to deal with various resulting and ongoing crises. The Washington-based institution has lowered its estimate for global growth for this year to 3.2 percent from a January prediction of 4.1 percent, president David Malpass told reporters on a call on Monday. The decline was spurred by a cut in the out...