Washington, June 11 (IANS) The World Bank Group said on Thursday it is prepared to deploy up to $100 billion over the next 15 months to help developing countries cope with the economic fallout from the conflict in the Middle East, as rising energy prices and slowing growth place fresh pressure on vulnerable economies.The multilateral lender said it is immediately making available between $50 billion and $60 billion through existing instruments, including $25 billion in pre-arranged financing, to…
Latest Developing Economies News & Updates
New Delhi, June 10 (IANS) Bangladesh’s revenue mobilisation remains among the weakest globally, with the country collecting about 8 per cent of its GDP in government revenue in 2024, placing it only marginally above conflict-hit economies such as Yemen and Sudan, a report has said.Highlighting the International Monetary Fund (IMF) data, a report published in The Daily Star said that Bangladesh’s revenue-to-GDP ratio is the lowest among Asian economies and significantly below several peer cou…
Gandhinagar, May 16 (IANS) The intra-BRICS merchandise trade has risen thirteen-fold, from $ 84 billion in 2003 to $ 1.17 trillion in 2024, outpacing the growth in global trade and contributing to greater resilience and diversification for member countries, Rajesh Agrawal, Commerce Secretary said on Saturday.Speaking at 2nd meeting of the BRICS Contact Group on Trade and Economic Issues (CGETI) here, the top government official underscored that BRICS has continued to grow stronger and has emerge…
New Delhi, Feb 7 (IANS) The upcoming India AI Impact Summit will unite nations, innovators, and citizens to develop an inclusive and responsible Artificial Intelligence (AI), said Abhishek Singh, CEO, IndiaAI Mission.The AI Impact Summit is scheduled to be held in Delhi from February 19 to 20. Speaking at the latest episode of Digital India – Ask Our Experts, Singh highlighted how the Summit will act as a people-centric platform, moving beyond technical discussions to focus on how citizens can…
United Nations, Jan 22 (IANS) Foreign Direct Investment (FDI) in India surged by 73 per cent last year, bringing in $47 billion, according to UNCTAD.The increase was “mainly due to large investments in services — including finance, IT (information technology), and R&D (Research and Development) — as well as manufacturing, supported by policies aimed at integrating India into global supply chains”, the UN trade agency said in a report released on Tuesday.India’s FDI growth rate was am…
Washington, Jan 13 (IANS) The global economy is showing greater resilience than expected despite historic trade tensions and policy uncertainty, with growth projected to remain broadly steady over the next two years, the World Bank said on Tuesday.In its latest Global Economic Prospects report, the World Bank said that global growth is projected to ease to 2.6 per cent in 2026 before edging up to 2.7 per cent in 2027, an upward revision from earlier forecasts.The stronger-than-anticipated perfor…
Washington, Jan 13 (IANS) India’s economy is projected to remain among the world’s fastest-growing major economies, with growth estimated at 7.2 per cent in FY2025-26, supported by strong domestic demand despite rising global trade tensions, the World Bank said on Tuesday.In its latest Global Economic Prospects report, the World Bank said India’s resilience helped lift overall growth in South Asia in 2025, offsetting the impact of heightened policy uncertainty and global trade frictions.Grow…