Home » Posts tagged with "World Bank"


Nigeria: Power Grid Collapses for 7th Total Blackout This Year

Post Pic
Nigeria—regarded by the World Bank as an “emerging market”—has demonstrated sub-Saharan Africa’s inability to maintain an advanced Western infrastructure as its power grid collapsed for the seventh time this year, plunging the entire country into darkness. Local Nigerian media reported a total collapse of “all the nation’s power plants” and said that a “top executive of one of the... 

Liechtenstein GDP Larger than 14 African States Combined

Post Pic
Liechtenstein (population 37,000) has a Gross Domestic Product (GDP) larger than 14 African states, while Belgium (pop. 11m) and Australia (pop. 24m) have a GDP larger than 41 African states and their population of more than 990 million all added together—definitive proof that achievement is linked to race, and not “environment.” Gross Domestic Product (GDP) is a measure of the value of economic... 

Globalization Report Identifies Key Geographic Trade Centers

Post Pic
The United States, Asia and Europe were three production centers in the global value chain for bulk trade of parts, a report said on Monday. Released by the World Bank, the World Trade Organization and the Organization for Economic Co-operation and Development, the report aimed to provide solutions to uneven distribution under economic globalization, as well as to provide suggestions for developing... 

Countries seeking credits from World Bank at crisis levels

Post Pic
World Bank Group headquarters building in Washington DC, USA. The World Bank says developing countries are increasingly seeking credit from the international financial institution at an alarming scale. Demands for World Bank loans have reached levels not seen outside of financial crises as developing countries struggle with a weak global economy, said the monetary organization prior to its biannual... 

Brazil inflation hits 13-year high

Post Pic
Official figures show inflation in Brazil last year hit the highest level since 2002. Official figures show that Brazil’s inflation hit the highest level in 13 years in 2015 over what many believe has been a result of economic mismanagement that has been worsened by a political crisis in Latin America’s biggest economy. The government announced on Friday that annual inflation reached 10.67... 

Uruguay’s president Mujica steps down

Post Pic
Newly sworn-in Uruguayan President Tabare Vazquez (R) receives the ceremonial sash from outgoing President Jose Pepe Mujica (2-R) in Montevideo on March 1, 2015. Uruguay’s president, Jose “Pepe” Mujica, a former guerrilla who lives on a farm and gives most of his salary to charity, is stepping down after five years in office, ending his term as one of the world’s most popular leaders... 

​Russia ratifies $100bn BRICS New Development Bank

Post Pic
The Russian State Duma has ratified the $100 billion BRICS bank that’ll serve as a pool of money for infrastructure projects in Russia, Brazil, India, China and South Africa, and challenge the dominance of the Western-led World Bank and the IMF. The New Development Bank is expected to start fully functioning by the end of 2015, according to the Russian Finance Ministry. Russia has agreed to provide... 

BRICS establish Development Bank to rival IMF and World Bank

Post Pic
The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar. The new bank will provide money for infrastructure and development projects in BRICS countries, and unlike the IMF or World Bank, each nation has... 

IMF's $17 billion Ukraine loan comes with Higher Gas Prices and Lower Pensions

Post Pic
The International Monetary Fund has approved a two-year $17.1 billion loan package for Ukraine. The immediate disbursement of $3.2 billion will allow Ukraine to avoid a potential debt default. The IMF’s 24-member board agreed to the two-year program to aid Ukraine’s troubled economy on Wednesday. The approval gives the green light for the immediate release of $3.2 billion to Ukraine, which will... 

China rapidly moving to overtake US economy

Post Pic
A new study has found that China is rapidly moving ahead to overtake the United States as the world’s largest economy as soon as this year. The new finding by the International Comparison Program (ICP), which involves the World Bank and United Nations, said on Wednesday that China in 2011 closely followed the US that has been dominating the world economy for over a century. “The size of the Chinese... 

World Bank Insider: “There Is A Huge Global Conspiracy”

Post Pic
Former Senior Counselor at the World Bank Karen Hudes has spent the last several years of her life working closely with whistle blowers from around the world to shed light on what she calls a “global conspiracy.” While working for the World Bank as a member of their legal team Hudes uncovered so much corruption that she could no longer keep quiet. She followed the proper channels to report her... 

Kiev plans to cut pensions 50%

Post Pic
A participant in a rally in support of Ukraine’s integration with the EU, on Kiev’s Independence Square. The self-proclaimed government in Kiev is reportedly planning to cut pensions by 50 percent as part of unprecedented austerity measures to save Ukraine from default. With an “empty treasury”, reduction of payments might take place in March. According to the draft document obtained... 

World Bank delays Uganda loan over anti-gay law

Post Pic
The World Bank has put off a 90-million-dollar loan to Uganda, citing a new anti-gay law in the East African country that has already drawn criticism from the US and Europe, which control the global lending institution. “We have postponed the project for further review to ensure that the development objectives would not be adversely affected by the enactment of this new law,” claimed a... 

US expands military net over Africa, checking China’s influence

Post Pic
Over the last decade, America has quietly expanded its military presence throughout Africa in an attempt to counter Chinese and other emerging nations’ influence, while consolidating control over critical strategic resources and trade routes. The United States, like its allies Britain and France, has long maintained influence and indirect control in Africa through financial institutions such as... 

Obama stops NSA spying on IMF, World Bank headquarters

Post Pic
US President Barack Obama has called on the National Security Agency to halt spying on the headquarters of the International Monetary Fund and World Bank in conjunction with a review of surveillance activities, Reuters reported. A US official told the news agency that President Obama curbed the spying within the last few weeks, around the same time he told the NSA to stop eavesdropping on the United... 
Copyright © 2009 The European Union Times – Breaking News, Latest News. All rights reserved.