Nusa Dua, Bali (ANTARA News) - The World Bank plans to launch a new Human Capital Index during the IMF-World Bank annual meeting, Coordinating Minister for Maritime Affairs Luhut Binsar Panjaitan disclosed here Monday. He said 189 central banks in the world would participate in formulating the index, which will be used as the new reference for human resource development across the world. "The human capital index will be released from here. It will be the world`s reference. It will be good for Indonesia as it will be at the center of the world`s attention," Panjaitan, who is the chairman of the organizing committee of the meeting, said. Finance Minister Sri Mulyani, on the other hand, said that the index would measure the success of investment in human resource development. "Almost all studies in the world have shown that the rate of return on investments in human resource development is high. However, the investment in many countries is still not effective, while human beings are … [Read more...] about World Bank to launch new human capital index
JERUSALEM -- The Gaza Strip's economy is in "free fall," a report from the World Bank warned Tuesday, calling for urgent action by Israel and the international community to avoid "immediate collapse." According to the report, Gaza's economy contracted by 6 percent in the first quarter of 2018. It said unemployment is now over 50 percent -- and over 70 percent among Gaza's youth. The World Bank cited various factors, starting with Israel's decade-long blockade against the territory's militant Hamas rulers, for the precarious downturn. It also cited budget cuts by the rival Palestinian Authority and a reduction in international aid to the Palestinians, particularly from the United States. "A combination of war, isolation, and internal rivalries has left Gaza in a crippling economic state and exacerbated the human distress," said Marina Wes, the World Bank's director for the region. The report was released ahead of a high level meeting of the bank's Ad Hoc Liaison Committee, responsible … [Read more...] about World Bank warns Gaza economy facing “immediate collapse”
Jakarta (ANTARA News) - The World Bank Jakarta Representative Office has denied allegations of involvement in financial transactions with individuals in Indonesia. "Regarding the recent false accusation that the World Bank is involved in financial transactions with individual parties in Indonesia, we herewith clarify that the allegations are incorrect," the World Bank wrote in an official statement received here on Friday. Earlier, a resident, named Ruben PS Marey, visited Ratna Sarumpaet Crisis Center (RSCC) to complain about the Rp23.9 trillion worth of funds in his account that had disappeared. Ruben said the funds were from donors for development and overcoming poverty in Papua. He also said that the funds were transferred by the World Bank but failed to enter his account. Ruben also accused the government of unilaterally blocking funds stored in one of the banks in Indonesia. However, the World Bank gave clarification and explained that the it was not involved in … [Read more...] about World Bank denies involvement in financial transactions
Jakarta (ANTARA News) - The World Bank has predicted Indonesia`s economic growth to reach 5.2 percent throughout 2018, which is relatively the same as the government`s projection of 5.14-5.21 percent. "Economic growth is estimated at 5.2 percent this year and in 2019, and gradually increases to 5.3 percent by 2020," World Bank Director for Indonesia and Timor-Leste Rodrigo A Chaves stated at the launch of the Indonesian Economic Quarterly Report in Jakarta on Thursday. According to the World Bank, stronger domestic demand in Indonesia is expected to continue to be a driver of economic growth. Meanwhile, private consumption is predicted to continue due to stable inflation, a strong labor market, and also a decline in loan interest rates. Government spending is also projected to strengthen where revenue growth provides space, both for fiscal consolidation and additional spending. "For investment growth, it is expected to remain strong in line with the post-election uncertainty," … [Read more...] about World Bank predicts Indonesia`s 2018 economic growth at 5.2 percent
The Associated Press Updated 7:49 am PDT, Wednesday, September 19, 2018 FILE- This Sept. 10, 2017, file photo shows a night view of the Mangueira slum, seen from a squatter building that used to house the Brazilian Institute of Geography and Statistics IGBE) in the Mangueira slum of Rio de Janeiro, Brazil. Global poverty has fallen to a record low. The World Bank says 10 percent of the world’s population lived on less than $1.90 a day in 2015, down from 11.2 percent in 2013. That means 735.9 million people lived below the poverty threshold in 2015, down from 804.2 million. less FILE- This Sept. 10, 2017, file photo shows a night view of the Mangueira slum, seen from a squatter building that used to house the Brazilian Institute of Geography and Statistics IGBE) in the Mangueira slum ... more Photo: Felipe Dana, AP FILE- In this Nov. 21, 2017, file photo a girl returns from a designated area where … [Read more...] about World Bank: Global poverty rate drops to record low 10 pct.