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WASHINGTON, April 19, 2024— New financial instruments designed to boost lending capacity and enable the World Bank Group to take on more risk for shared global challenges have received a significant endorsement. A set of 11 countries announced commitments today for the Portfolio Guarantee Platform, hybrid capital mechanism, and new Livable Planet Fund totaling $11 billion.
In meeting with Chinese Premier Li in Beijing, US Treasury Secretary Yellen raises concerns about industrial overcapacity and emphasises importance of working together on global challenges such as debt relief for less developed countries.
India Inc's credit ratings saw more upgrades than downgrades during October-March 2024, despite challenges like rising borrowing costs and supply constraints due to geopolitical issues. Strong domestic consumption and government infrastructure spending contributed to this trend. Sectors like roads, renewables, and hospitality drove upgrades, while export-oriented sectors faced downgrades. The credit ratio stabilized at pre-COVID levels, indicating positive credit quality outlook for fiscal 2025. However, uncertainties like monsoons and geopolitical landscape changes remain potential risks.
Agreement 'needs to be renegotiated from the scratch,' says French president
Baba Vanga's predictions for 2024 paint a complex picture of the year ahead, touching on various critical aspects that may shape global events. She foresaw a global rise in terror incidents, an impending economic crisis, anticipated medical breakthroughs, advancements in quantum computing, and the resilience of humanity in confronting challenges. The tragic terrorist attack in Moscow shows the heightened threat of terrorism, not just in Russia but globally.