World Bank-IMF meetings end with call for reform

October 5th, 2009 Calls for change at World BankISTANBUL — The World Bank needs to become more efficient in how it uses its resources and give more say to developing economies, several member states, including major donors the U.S. and Britain, said Monday.

October 4th, 2009 ISTANBUL - Climate change could depress the economic output of Africa and South Asia by as much as five percent per year, the World Bank warned Sunday. The effects of a warming of the Earth's temperature by even two degrees Celsius could put up to 400 million people at risk of hunger and leave up to two billion lacking enough water resources.

October 2nd, 2009 World Bank chief warns of funding constraintsISTANBUL — World Bank president Robert Zoellick warned Friday that the international lender could find money running tight within a year if crisis-driven demands on its funding keep up at their record pace and the richer countries fail to stump up more cash. Speaking to reporters before the start of annual meetings of the World Bank and International Monetary Fund annual meeting here, Zoellick said the World Bank deployed a record $33 billion in its fiscal year to June 2009 and is already on course to lend a further $40 billion this year.

October 2nd, 2009 ISTANBUL - Developing nations will need outside support to help them boost domestic demand as the world begins an uncertain recovery from a devastating economic crisis, World Bank President Robert Zoellick said Friday. Speaking ahead of the World Bank and International Monetary Fund's annual meetings here, Zoellick said many emerging countries were poised to become major drivers of world growth.

September 6th, 2009 ISLAMABAD - A new World Bank report has revealed that every Pakistani citizen evaded paying the tax amount of 4800 rupees in the financial year 2007-08. The total tax evaded in the period stood at 796 billion rupees.

July 15th, 2009 Japan's central bank keeps rates steadyTOKYO — Japan's central bank has kept its benchmark interest rate steady amid signs that the economy has ended its slide. The Bank of Japan's eight-member policy board voted unanimously to leave its overnight call rate target unchanged at 0.1 percent, as widely expected by the market.

July 10th, 2009 L'AQUILA - The G8-G5 agreement on introducing reforms in international and financial institutions has buoyed India's hopes for a UNSC seat. The proposal put forth by G-5 and agreed to by G-8, seeks to restructure institutions like the World Bank, The International Labour Organization (ILO), the World Trade Organisation (WTO) and the UN Security Council.

June 18th, 2009 World Bank raises 2009 China growth forecastBEIJING — The World Bank is raising its 2009 growth forecast for China due to the country's stimulus-driven investment boom. But it also cautions that it is still too soon to say a sustained recovery is on the way.

April 30th, 2009 World Bank: DC employee likely has swine fluWASHINGTON — Some employees of the World Bank in Washington are being asked to work from home after one of their colleagues was preliminarily diagnosed with swine flu. The bank said Thursday that the man is believed to have been exposed to the illness while traveling in Mexico for business from April 13 to 18.

April 27th, 2009 Activists protest against IMF, World BankWASHINGTON — Protesters upset with how world leaders have handled global economic woes have completed their rally near the World Bank and International Monetary Fund meetings in Washington. Dozens of demonstrators marched several blocks Sunday afternoon from Dupont Circle to a park across from the World Bank building.

April 26th, 2009 World Bank: Nations should speed aid to poorWASHINGTON — The World Bank on Sunday urged donor nations to speed up delivery of the money they've already pledged — and to give even more — to help poor countries weather the steep global recession. The bank said developing countries face especially serious consequences as the financial and economic crisis turns into what it described as a "human and development calamity." In a communique, the World Bank's policy steering committee said the crisis has already driven more than 50 million people into extreme poverty, particularly women and children.

April 25th, 2009 Protesters, police clash near IMF meetings in DCWASHINGTON — More than 100 protesters upset with the way world leaders have handled the economic crisis clashed with police Saturday outside the International Monetary Fund and World Bank meetings. Authorities used batons and pepper spray when activists tried to march onto a prohibited street, and several people were pushed to the ground by police.

April 24th, 2009 Developing countries hit harder by global crisisWASHINGTON — Developing countries are being hit harder by the global financial crisis than industrialized nations and need urgent and unprecedented help to cope with it, the Group of 24 countries said Friday. Among the effects of the crisis the developing countries are experiencing are falling prices for their commodities and exports, a decline in money transfers their citizens send from abroad, a sharp reduction in foreign direct investment and exposure to the credit crunch other countries are facing.

February 15th, 2009 NEW DELHI - The government has sought an additional $4.2 billion loan from the World Bank, majority of which will be used to recapitalise four state-run banks, a top official said here Monday. 'The government has sought additional world bank spending of $4.2 billion.

January 26th, 2009 NEW DELHI - The World Bank Tuesday announced $444 million aid to Orissa for infrastructure development and rural livelihood projects. The bank has signed an agreement in this regard with the state government.