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World Bank raises PH growth forecast to 5.3 percent

ABS-CBN News
Posted at Dec 07 04:38 PM

The multilateral lender also expects the Philippines’ gross domestic product to expand by an average of 5.8 percent in 2022 and 2023. Read more »

DepEd says dealing with 'learning poverty' following WB report

Jaehwa Bernardo, ABS-CBN News
Posted at Nov 24 05:10 PM

The World Bank defines learning poverty as the inability of children to "read and understand simple text by age 10." Read more »

Time for fresh look at China’s unique global donor-borrower role: report

Linda Lew, South China Morning Post
Updated as of Nov 21 06:13 PM

While bringing ample benefits, China’s growing contributions and influence in global organizations like the World Bank and the United Nations should be reconsidered, a new report on China’s international engagement has concluded. Read more »

World Bank OKs $500-M funding for PH climate response

ABS-CBN News
Posted at Nov 18 08:03 PM

The World Bank has approved a new $500-million credit line to help the Philippines manage risks from climate change, natural disasters, and disease. Read more »

'World failing to learn lessons from pandemic'

Agence France-Presse
Posted at Oct 26 06:16 PM

The pandemic has exposed a world that is "unequal, divided, and unaccountable", it concluded. Read more »

World Bank hopes China will boost donation to fund for poorest countries

Andrea Shalal, Reuters
Posted at Oct 15 08:22 AM

World Bank President David Malpass said on Thursday that he hoped China would increase its donation to the International Development Association fund for the poorest countries. Read more »

IMF chief Georgieva says data-rigging scandal won't hamper IMF-World Bank cooperation

Andrea Shalal and David Lawder, Reuters
Posted at Oct 14 08:27 AM

International Monetary Fund chief Kristalina Georgieva on Wednesday distanced herself and the fund from a data-rigging scandal involving her former employer, the World Bank, but said she did not expect the saga to hamper decades of close collaboration between the two institutions. Read more »

Georgieva focused on global challenges after getting board's backing

Andrea Shalal, Reuters
Posted at Oct 13 10:19 AM

IMF chief Kristalina Georgieva is fully focused on global challenges, she said on Tuesday, after the fund's executive board cleared her of claims that she pressured World Bank staff to alter data to favor China in her previous job. Read more »

IMF reaffirms 'full confidence' in head Georgieva

Agence France-Presse
Updated as of Oct 12 11:56 AM

The IMF Executive Board reaffirmed on Monday its "full confidence" in the Washington-based crisis lender's chief, Kristalina Georgieva, keeping her on as managing director after she was hit with allegations of data tampering. Read more »

Poor countries' debt rose 12 percent to record $860B in 2020: World Bank

ABS-CBN News
Posted at Oct 12 09:04 AM

World Bank President David Malpass told reporters the bank's International Debt Statistics 2022 report showed a dramatic increase in the debt vulnerabilities facing low- and middle-income countries; he also urged for comprehensive efforts to help countries reach more sustainable debt levels. Read more »

IMF board to back Managing Director Georgieva: sources

Reuters
Posted at Oct 12 08:18 AM

The International Monetary Fund's executive board will issue a statement of support for Managing Director Kristalina Georgieva after a thorough review of allegations that she pressured World Bank staff to alter data to favor China, sources familiar with the decision said. Read more »

ARTA hinikayat na sundin ang pamantayan ng World Bank

ABS-CBN News
Posted at Oct 11 11:05 PM

Tinukoy na noong 2019, ika-95 ang Pilipinas sa 190 bansa sa report ng World Bank ukol sa 'Ease of Doing Business.' Read more »

IMF board expected to decide Georgieva's fate on Monday

Andrea Shalal, Reuters
Posted at Oct 11 10:23 AM

The International Monetary Fund's executive board was meeting on Sunday with Managing Director Kristalina Georgieva and the law firm that claims she pressured World Bank staff to change data to favor China in her previous job, sources familiar with the matter said. Read more »

IMF chief's lawyer claims data probe violated World Bank staff rules

David Lawder and Andrea Shalal, Reuters
Posted at Oct 08 08:20 AM

Lawyers who investigated World Bank data-rigging allegations against IMF Managing Director Kristalina Georgieva violated World Bank staff rules by failing to notify her that she was a subject of the probe and by not allowing her to respond to its findings, Georgieva's attorney said. Read more »

Inequality, inflation hurting pandemic recovery: IMF

Chris Stein, Agence France Presse
Posted at Oct 05 10:42 PM

These include a widening divergence between rich countries and poor countries in the trajectories of their recovery from the pandemic. Read more »

IMF board meets with law firm behind data manipulation probe

Agence France-Presse
Posted at Oct 05 08:36 AM

The IMF Executive Board has met with the law firm behind a report that found Managing Director Kristalina Georgieva manipulated data in favor of China while in a senior role at the World Bank, the fund announced Monday. Read more »

World Bank, IMF face long-term damage after scandal

Andrea Shalal and David Lawder, Reuters
Posted at Oct 04 09:04 PM

The damage from the data-rigging scandal that forced the World Bank to discontinue its "Doing Business" investment climate rankings may be difficult to repair. Read more »

World Bank says Delta slowing growth in Asia Pacific

Kanishka Singh, Reuters
Posted at Sep 28 01:11 PM

The East Asia and Pacific region's recovery has been undermined by the spread of the COVID-19 Delta variant, the World Bank said. Read more »

IMF execs meets over charges boss changed data to favor China

Agence France-Presse
Updated as of Sep 22 12:16 PM

The International Monetary Fund's board of directors met Tuesday over charges that its director, Kristalina Georgieva, pressured staff in 2017 when she was the World Bank CEO to change data in a key ranking report to paint China in a more positive light. Read more »

External review finds deeper rot in World Bank 'Doing Business' rankings

Andrea Shalal, Reuters
Posted at Sep 21 08:49 AM

Weeks before the World Bank scrapped its flagship Doing Business rankings following a damning independent probe, a group of external advisers recommended an overhaul of the rankings to limit countries' efforts to "manipulate their scores." Read more »