In China the pension akin to Social Security in the United States pays about $410 a month to seniors who live in cities, and only $25 a month in the […]
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Back to news homeWorld Bank Projects Weak Global Growth Amid Rising Interest Rates
The World Bank said on Tuesday that the global economy remained in a “precarious state” and warned of sluggish growth this year and next as rising interest rates slow consumer […]
IMF Lowers Growth Outlook Amid Financial System Tremors
WASHINGTON — The world economy faces the increasing risk of a painful slowdown amid worries about the global banking system and concerns that rising interest rates could force banks to […]
Global Economy May Be in a ‘Lost Decade,’ World Bank Warns
WASHINGTON — The World Bank warned on Monday that the coronavirus pandemic and Russia’s war in Ukraine had contributed to a decline in the global economy’s long-term growth potential, leading […]
Biden’s World Bank Pick Looks to Link Climate and Development Goals
The Biden administration’s nominee to be the next president of the World Bank, the international development and climate institution, is embarking on a monthlong sprint around the globe to solidify […]
Defaults Loom as Poor Countries Face an Economic Storm
WASHINGTON — Developing nations are facing a catastrophic debt crisis in the coming months as rapid inflation, slowing growth, rising interest rates and a strengthening dollar coalesce into a perfect […]
G20 Leaders Meet in Bali as Global Economy Faces Multiple Threats
The Chinese description of the meeting suggested that those policies, and others meant to redirect American supply chains away from China, “completely violate the principles of market economy and undermine […]
I.M.F. Warns ‘Worst Is Yet to Come’ for World Economy
The International Monetary Fund lowered its growth outlook for 2023 and suggested interest rate increases could spur a harsh global recession. Read More
In Global Slowdown, China Holds Sway Over Countries’ Fates
BEIJING — When Suriname couldn’t make its debt payments, a Chinese state bank seized the money from one of the South American country’s accounts.As Pakistan has struggled to cope with […]
Global Growth Will Be Choked Amid Inflation and War, Says World Bank
For large and small nations around the globe, the hope of averting a recession is fading, the World Bank warned on Tuesday.The grinding war in Ukraine, ongoing supply chain chokeholds, […]