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MercoPress, en Español

Montevideo, September 21st 2024 - 10:26 UTC

Tag: World Bank

  • Thursday, September 5th 2024 - 10:45 UTC

    Argentina, only country in the region with a contracting economy

    More and more Argentines keep falling daily into poverty or indigence

    Less than a year into the government of Libertarian President Javier Milei, Argentina will be the only country in the region with negative growth in 2024, according to projections by the World Bank, the International Monetary Fund (IMF), ECLAC, and BBVA, which forecast a 3.2% contraction of Gross Domestic Product (GDP) in South America's second-largest economy.

  • Tuesday, June 11th 2024 - 22:17 UTC

    World Bank foresees economic deterioration for Argentina this year

    A recovery above average is also forecast for 2025

    According to the latest “World Economic Outlook” report released Tuesday by the World Bank from its headquarters in Washington DC, Argentina's economy is expected to fall sharply this year, thus becoming the Latin American country going through the tightest contraction in the region before rebounding in 2025. The study projected a 3.5% drop this year followed by a 5% surge in 2025, thus outperforming the rest of the continent.

  • Friday, April 19th 2024 - 21:14 UTC

    Brazil's Finance Minister hopes G20 will tax the super‑rich to tackle world's debt crisis

    Haddad recalled that Biden's government was holding thoughts along the same lines regarding the wealthiest people

    During his trip to Washington DC to attend International Monetary Fund (IMF) and World Bank (WB) engagements, Brazil's Finance Minister Fernando Haddad said he hoped the G-20 would approve later this year a new taxation for the planet's super-rich so that the global economy could adjust amid an unprecedented debt crisis, Agencia Brasil reported.

  • Friday, April 12th 2024 - 15:30 UTC

    Latin America and Caribbean persistent low growth and stalled progress, World Bank report

    “We must act decisively to help Latin America and the Caribbean break away from this cycle,” said Carlos Felipe Jaramillo, WB Vice President for LAC

    Latin America and the Caribbean (LAC) has reached a critical juncture. While the region has made significant progress in economic stabilization over recent decades, growth has stalled, undermining progress. Urgent action is needed to reverse course. In a new report, “Competition: The Missing Ingredient for Growth?” the World Bank highlights potential areas for action, emphasizing that leveraging competition policies and institutions is key to any impactful growth strategy.

  • Tuesday, March 12th 2024 - 10:46 UTC

    Bolivian Senate stalling World Bank loan could make it go away

    Over 100,000 people from rural Bolivia would benefit from works stemming from these loans, Molina explained

    Bolivian authorities need to have the Senate approve a US$ 125 million loan from the World Bank at the earliest or else the credit agency might backtrack on granting it, Hydrocarbons Ministry Spokeswoman Rocío Molina warned Monday. Other five credits might follow suit given the Upper House's tardiness, Molina explained.

  • Thursday, February 15th 2024 - 10:40 UTC

    Uruguay must pay some US$ 80 million for the 2012 closing of Pluna

    Mujica argued that these things happen because litigations of this nature are always held in New York or Paris

    After a ruling issued Tuesday by a World Bank arbitration tribunal, the Uruguayan State will have to pay some US$ 30 million over the closing of the former flag carrier Pluna, which has triggered reciprocal accusations between the country's main political forces ahead of this year's presidential elections.

  • Monday, November 27th 2023 - 10:18 UTC

    Milei off to US for talks with IMF, WB, and Biden's administration

    Milei and his sister Karina attended a Jewish religious ceremony in Buenos Aires on Saturday

    Argentina's President-elect Javier Milei left Sunday evening for the United States to meet with officials from the Joseph Biden administration and creditor organizations such as the International Monetary Fund (IMF) and the World Bank (WB), it was reported in Buenos Aires

  • Saturday, November 18th 2023 - 10:37 UTC

    World Bank grants Uruguay green-oriented loan

    “The approval of this loan instrument is another innovative step by the country,” Arbeleche said

    Uruguay has been granted an unprecedented US$ 350 million loan by the World Bank (WB). Although there is nothing new with borrowing, the so-called Programmatic Loan for Development Policies and Reform Implementation will entail a reduction of the interest rate whenever certain environmental goals are met, it was explained in Montevideo.

  • Wednesday, August 23rd 2023 - 10:56 UTC

    Massa gets loans from IDB and WB ahead of IMF meeting

    Massa is convinced that the IMF will grant Argentina another US$ 7.5 billion

    The Inter-American Development Bank (IDB) and the World Bank (WB) will grant Argentina additional financing of US$ 1,300 million, Economy Minister and presidential candidate Sergio Massa announced Tuesday from Washington DC.

  • Thursday, June 29th 2023 - 15:45 UTC

    World Bank approves $150 million loan to boost green hydrogen investment in Chile

    This collaboration aims to expedite hydrogen deployment in emerging markets and developing countries

    In a significant move towards promoting sustainable energy solutions, the World Bank Board of Directors has approved a loan of $150 million to support green hydrogen projects in Chile. This loan marks the World Bank's first endeavor in promoting green hydrogen and aligns with Chile's commitment to achieving carbon neutrality by 2050. The investment aims to accelerate the country's green growth, energy transition, and foster a resilient and inclusive economic development.

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