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Keyword: worldbank

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  • U.S. to back $13 billion World Bank capital increase: sources

    04/20/2018 6:32:29 AM PDT · by WisconsinRep · 2 replies
    Reuters ^ | April 13, 2018 | David Lawder
    The Trump administration is expected to support a $13 billion capital increase for the World Bank in a deal that will reform the development bank’s lending rules and increase China’s shareholding, three people close to the matter said on Friday. U.S. Treasury Secretary Steven Mnuchin is expected to lend his support for the plan at next week’s World Bank and International Monetary Fund spring meetings, the sources said. But the deal will need an endorsement from the World Bank’s shareholders and approval from its board of directors. “Barring unforeseen challenges, there will be a capital increase,” one of the sources...
  • The Bankrupt Economics of David Brat

    06/17/2014 5:30:59 PM PDT · by SeekAndFind · 38 replies
    Pragmatic Capitalism ^ | 06/17/2014 | BY CULLEN ROCHE
    The big political news from last week was David Brat’s upset win over Eric Cantor for Congress. Brat is an economics professor at Randolph Macon and from his research it’s clear that he has strong political views embedded in his economics. It’s perfectly fine to be a political economist, but when it leads to an obviously flawed understanding and presentation of reality then it becomes a real problem in my opinion. For instance, in his website Brat says the following: “Our national debt has skyrocketed, reaching over $17 trillion dollars. What our leaders in Washington fail to mention is...
  • World Bank: Record $30 Billion Leaving The US For Mexico

    10/04/2017 3:11:03 PM PDT · by ForYourChildren · 9 replies
    The Daily Caller ^ | 10/04/2017 | Will Racke
    President Donald Trump’s tougher immigration enforcement has reduced the flow of people heading north across the U.S.-Mexico border, but it has had no effect on the amount of money heading in the opposite direction. In fact, Mexico is on pace to receive more remittances from abroad in 2017 than it ever has before, according to World Bank estimates released Tuesday. Mexico, which takes in more remittances than any other Latin American country by a wide margin, will likely receive $30.5 billion from the Mexican diaspora living abroad — 6.5 percent more than it did in 2016. About 95 percent of...
  • Report: Saudi Arabia, UAE Will Donate $100M to Ivanka Trump-Proposed Women Entrepreneurs Fund

    05/21/2017 3:34:58 PM PDT · by bobsunshine · 18 replies
    Breitbart ^ | May 21, 2017 | KATHERINE RODRIGUEZ
    Two Arab countries have pledged to donate $100 million towards a fund designed for women entrepreneurs proposed by the president’s eldest daughter and adviser Ivanka Trump, according to a report. Saudi Arabia and the United Arab Emirates will contribute $100 million towards the World Bank’s Women Entrepreneurs Fund, which Ivanka proposed, the Wall Street Journal reported. ABC News reported that World Bank president Jim Yong Kim announced the countries’ pledge at a Sunday event on women’s economic empowerment with Ivanka. At the event, Ivanka praised Saudi Arabia for making “progress” as a nation towards empowering women, but she added that...
  • Ivanka Trump’s Women Entrepreneurs Fund Takes $100m From Saudi Arabia and United Arab Emirates

    05/21/2017 12:22:46 PM PDT · by drewh · 49 replies
    NY Daily News ^ | one hour ago | Jason Silverstein
    President Trump’s first foreign trip has brought a big benefit to his daughter's pet project. As Trump traveled the Middle East, Saudi Arabia and the United Arab Emirates pledged $100 million to a fund for women entrepreneurs proposed by Ivanka Trump, according to a report. The Wall Street Journal reported Saudi Arabia and the U.A.E. would donate to the Women Entrepreneurs Fund, a program Ivanka Trump pitched to World Bank Group President Jim Yong Kim and has discussed with several world leaders. The fund’s money will be controlled by World Bank, not Ivanka, but she continues fundraising for it even...
  • Ivanka Trump, World Bank discuss women entrepreneur fund

    04/26/2017 5:02:04 PM PDT · by 2ndDivisionVet · 21 replies
    The Minneapolis Star Tribune ^ | April 26, 2017 | Catherine Lucey, The Associated Press
    Ivanka Trump has been involved in discussions with the World Bank about establishing a funding operation that would support female entrepreneurs, bank and administration officials said Wednesday. The officials stressed that nothing has been set up yet and that talks are ongoing about how this would be set up. They said it could be structured as a World Bank-run "facility," which accepts contributions from governments and private donors and then provides funding and support to women in developing countries. According to a senior administration official, Trump recently pitched the idea to World Bank Group President Jim Yong Kim, who then...
  • Top economist: Puerto Rico could fall into deeper depression

    04/07/2017 4:37:47 AM PDT · by Olog-hai · 13 replies
    Associated Press ^ | Apr 6, 2017 6:30 PM EDT | Danica Coto
    Nobel economics laureate Joseph Stiglitz criticized Puerto Rico’s new fiscal plan on Thursday, saying that its “draconian” austerity measures are the worst he has ever seen and could plunge the U.S. territory into an even deeper depression. The former chief economist and senior vice president of the World Bank spoke to a gathering of more than 1,000 people in San Juan. Stiglitz said the 10-year fiscal plan approved last month by a federal control board created by U.S. Congress is based on the wrong principles and erroneously puts creditors first. […] Puerto Rico is preparing to implement austerity measures that...
  • Pope Francis Now International Monetary Guru?

    01/10/2017 10:52:05 AM PST · by ebb tide · 15 replies
    Zero Hedge ^ | January 9, 2017 | Tyler Durden
    As the new year dawns, it seems the current occupant of St. Peter’s Chair will take on a new function which is outside the purview of the office that the Divine Founder of his institution had clearly mandated. Besides being a self proclaimed expert on global warming and a vociferous advocate of societal-wrecking mass immigration, it looks as if “Pope” Francis has entered the realm of global economics specifically, international monetary policy. In an 18-page document issued through the Vatican’s Office of Justice and Peace, Bergoglio has called for, among other repressive and wealth-destructive measures, the establishment of a “supranational...
  • Want to know why US businesses are losing? Ask the World Bank

    12/26/2016 2:40:49 PM PST · by 198ml · 15 replies
    Conservative Review ^ | 12/26/16 | John Gray
    On Monday, Bret Stephens wrote an article in the Wall Street Journal called “Doomed to Stagnate.” The article was predicated on a little-known annual survey by the World Bank known as “Doing Business,” a document that ranks the business climate of nearly every nation around the world. Most Americans might expect the largest capitalist economy in the world, the United States, to lead the pack — but they’d be wrong. In fact, most Americans might be surprised to learn that not only are we not on top, but we have become less economically competitive in the world since Obama took...
  • This woman may be biggest opposition to Erdogan

    05/27/2016 5:11:42 PM PDT · by MinorityRepublican · 10 replies
    Al-Monitor ^ | May 26, 2016 | Sukru Kucuksahin
    After weeks of uncertainty and foot-dragging, the Appeals Court this week made a critical ruling, setting the stage for a potential shakeup in Turkish politics that may block President Recep Tayyip Erdogan’s drive for an executive presidency. The court gave the green light for the Nationalist Action Party (MHP) to hold a convention requested by in-house dissidents seeking to remake the party, whose erosion in recent years has played directly into Erdogan’s hands. Leading the dissidents is Meral Aksener, a rare female heavyweight on Turkey’s political scene, whose fortunes may now change not only the MHP’s but also Turkey’s course.
  • Hillary Clinton tipped for World Bank job as Robert Zoellick steps down

    02/15/2012 5:12:56 PM PST · by bruinbirdman · 21 replies
    The Telegraph ^ | 2/15/2012 | Emma Rowley
    Mr Zoellick, 58, will leave the Bank on June 30, after five years in the role. "The Bank is now strong, healthy and well positioned for new challenges, and so it is a natural time for me to move on and support new leadership," he said. Speculation as to his successor has focused on Mrs Clinton, the US Secretary of State, and former Treasury Secretary Larry Summers. The former US First Lady is said to have been in discussions with the White House about leaving her current role. "Hillary Clinton wants the job," a source who knows her well told...
  • Peru elections: Pedro Pablo Kuczynski holds slight lead as votes counted

    06/05/2016 9:41:02 PM PDT · by Nextrush · 21 replies
    BBC News ^ | 6/6/2016 | BBC
    Partial results in Peru's presidential election give former World Bank executive Pedro Pablo Kuczynski a narrow lead. He had 50.59% against 49.41% for Keiko Fujimori, with 52% of the votes counted. Ms. Fujimori had a strong lead ahead of the vote on Sunday but corruption scandals in her Popular Force party may have dented her support. She is the daughter of Peru's former President Alberto Fujimori.......
  • When Enemies Infiltrated the White House ( Harry Dexter White and fellow travelers )

    10/21/2015 10:30:39 AM PDT · by george76 · 21 replies
    FrontPage Magazine ^ | March 10, 2013 | Daniel Greenfield
    How a Soviet mole in FDR's inner circle triggered Pearl Harbor – and its dire relevancy to our conflict today. ... On December 7, 1941, 353 Japanese aircraft delivered a shocking blow .. Nearly seven years later, Harry Dexter White, a senior official in the Roosevelt Administration, appeared to testify before the House Committee on Un-American Activities . Numerous witnesses, including Whittaker Chambers and Elizabeth Bentley, had implicated White in involvement with the Communist Party and the Soviet Union. ... Harry Dexter White, a Harvard PhD and Assistant Treasury Secretary, had played a major role in creating the World Bank...
  • World's 'extremely poor' to fall below 10 percent of global population: World Bank

    10/04/2015 6:57:24 PM PDT · by SeekAndFind · 8 replies
    Reuters ^ | 10/04/2015 | BY SEBASTIEN MALO
    NEW YORK (Thomson Reuters Foundation) - The number of people living in extreme poverty is likely to fall for the first time below 10 percent of the world's population in 2015, the World Bank said on Sunday as it revised its benchmark for measuring the problem. Extreme poverty has long been defined as living on or below $1.25 a day, but the World Bank's adjustment now sets the poverty line at $1.90 a day. The Bank said the change reflects new data on differences in the cost of living across countries, while preserving the real purchasing power of the previous...
  • Einstein Memorial Refutes White House Environmentalist

    05/13/2015 11:52:33 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | May 13, 2015 | Terry Jeffrey
    It is an obvious truth we too often forget. At the Albert Einstein Memorial, on the grounds of the National Academy of Sciences in Washington, D.C., an explanatory sign states a simple fact that refutes the argument President Barack Obama's science adviser once made for redistributing wealth and limiting human population so as to save the human race from a poverty he claimed must inevitably intensify as our numbers increase. "At Einstein's feet lies a circular sky map representing the planets, sun, moon, and stars, positioned as observed by astronomers from the U.S. Naval Observatory at noon on the day...
  • China's New Development Bank Is Becoming A Massive Embarrassment For Obama

    03/31/2015 6:10:37 AM PDT · by blam · 14 replies
    BI ^ | 3-31-2015 | Mikw Bird
    Mike Bird March 31, 2015China's new development bank, which was announced just five months ago, is becoming a massive headache for the US. Try as it might, the US government can't convince its allies to stop joining the Asian Infrastructure Investment Bank (AIIB). The bank will be a bit like the World Bank, providing loans to developing countries in Asia for infrastructure projects. Unlike the World Bank, China will hold the reins of the AIIB. The US administration is publicly worried that the institution won't meet high governance standards, but really seems opposed to the move because it signals a...
  • Germany joins China development bank

    03/17/2015 10:10:58 AM PDT · by Olog-hai · 14 replies
    TheLocal.de ^ | 17 Mar 2015 11:38 GMT+01:00
    Finance Minister Wolfgang Schäuble confirmed on Tuesday that Germany has agreed to join the China-led Asian Infrastructure Investment Bank (AIIB), despite pressure from the US.Germany, France and Italy “want to bring our long experience … to help the bank build a solid reputation,” Schäuble said at a joint press conference in Berlin with Chinese vice-premier Ma Kai. “We want to make a contribution to the positive development of the Asian economy, in which German companies are actively taking part,” he said. France and Italy have also agreed to become members of the $50-billion institution, seen as a rival to the...
  • Regime of tyranny and torture back to haunt Uganda

    03/19/2005 10:43:59 AM PST · by propertius · 5 replies · 648+ views
    The Daily Telegraph (UK) ^ | 19th March, 2005 | Adrian Blomfield
    Suspected dissidents disappear after midnight visits to their homes; chilling screams can again be heard from Idi Amin's infamous torture chambers, reopened after a quarter of a century of disuse. From the few that escape come tales of punishment beatings and even mass executions. Welcome to President Yoweri Museveni's Uganda. One of Britain's favourite African states in recent years has, almost unnoticed in the West, become a sinister land where a corrupt regime uses its secret police to rule through fear. The reasons for this transition are not hard to fathom. Mr Museveni has ruled Uganda since 1986, when his...
  • Nuland: ‘Toxic Cocktail’ Hitting Russia as State Dept. Preparing More Support for Ukraine

    12/27/2014 7:19:20 AM PST · by opentalk · 22 replies
    PJ Media ^ | December 23, 2014 | NICHOLAS BALLASY
    Victoria Nuland, U.S. secretary of state for European and Eurasian affairs, said the U.S. has been internally preparing more financial support to Ukraine.“Senior IMF leadership was in Ukraine this week issuing a public validation of the reform program going forward but also confirming that the program agreed last year is going to need a significant adjustment – that there is a fiscal hole to the tune of $10-15 billion,” Nuland said at the American Enterprise Institute during a discussion examining the Ukrainian revolution one year later.“We expect that the IMF and the World Bank will have to increase their support...
  • Global Warming Is Already Locked In, World Bank Says

    11/24/2014 11:35:31 AM PST · by Beave Meister · 83 replies
    NBC News.com ^ | 11/24/2014
    The world is locked into 1.5°C global warming, posing severe risks to lives and livelihoods around the world, according to a new climate report commissioned by the World Bank. The report, which called on a large body of scientific evidence, found that global warming of close to 1.5°C above pre-industrial times – up from 0.8°C today – is already locked into Earth's atmospheric system by past and predicted greenhouse gas emissions. Such an increase could have potentially catastrophic consequences for mankind, causing the global sea level to rise more than 30 centimeters by 2100, droughts to become more severe and...