World Bank President Jim Yong Kim announces resignation
- 08-Jan-2019
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 […]
Global moot to discuss challenges to globalization from Trump, Europe populists
- 21-Apr-2017
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 […]
World Bank, IMF challenged by anti-globalization wave
- 06-Oct-2016
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 chief Kim heads for 2nd term
- 15-Sep-2016
WASHINGTON: World Bank President Jim Yong Kim effectively won a second five-year term after nominations to lead the global development bank closed Wednesday with no other candidates proposed.
US nominates Kim for World Bank second term
- 25-Aug-2016
WASHINGTON: The United States on Thursday threw its support behind World Bank chief Jim Yong Kim for a second term at the helm of the multilateral development lender.
World Bank slashes global growth forecast to 2.4 percent
- 08-Jun-2016
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.
Pakistan can grow with reforms, World Bank President tells IBA students
- 11-Feb-2016
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.
World can learn much from Pakistan, says WB president
- 10-Feb-2016
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.
World Bank to cut net 250 jobs
- 31-Oct-2014
WASHINGTON: World Bank President Jim Yong Kim announced a net 250 job cuts Thursday -- the first major job reductions under his reorganization plans at the bulked-up development bank.