WASHINGTON: The World Bank President Jim Yong Kim announced Monday he would step down next month, more than three years before his current term was due to expire. The decision ends Kim’s six-year tenure and may give US President Donald Trump decisive influence over the future leadership of the global development lender. “It has been a great honor to serve as president of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime,” Kim said in a statement.…
Jim Yong Kim
WASHINGTON: In annual financial moot of the International Monetary Fund (IMF) and the World Bank heree the World finance leaders have defended globalisation against the policies of U.S. President Donald Trump and European populists. They argued that blocking free trade would hobble economic growth instead of saving jobs from foreign competition. World Bank President Jim Yong Kim told media-persons that free trade and more openness were “critical for the future of the world.” Christine Lagarde, the managing director of…
WASHINGTON: World Bank and IMF leaders on Thursday confronted the rising unpopularity of globalization while urgently calling on countries to stimulate more equal economic growth. "My message to the members of the IMF tomorrow will be, 'Action, please,'" Lagarde told reporters in Washington at the opening of the annual meetings of International Monetary Fund and World Bank. But, faced with a surge of anti-free trade sentiment in the United States, Europe and elsewhere, Lagarde warned that now was not the time to close the…
WASHINGTON: A worried World Bank slashed its growth forecast for the global economy Tuesday, saying advanced economies are rebounding more slowly than expected and low commodity prices continue to hurt other countries.
KARACHI: President of World Bank Group (WBG) Jim Yong Kim concluded a two-day visit to Pakistan by urging the country to raise the ambition of its economic reforms while also encouraging the private sector to take a bigger role in creating jobs, especially for youth and women.
ISLAMABAD: World Bank Group (WBG) President Jim Yong Kim says Pakistan has a great opportunity to become more ambitious in reforming its economy so that more people are lifted out of poverty more quickly and prosperity is more widely shared among its people.