The US government has decided to write off $391 million bilateral debt that it has given to Liberia immediately and to work with the World Bank and IMF with great urgency to find a solution to the $2.1 billion debt that Liberia owes the multilateral organizations. The decision was announced by the s[...]
Posts Tagged ‘World Bank’
June 9th, 2012 - 10:31 am § in News Of Economy
US promises to write off $391 million Liberian debt, multilateral debt still remains a problem
May 12th, 2012 - 1:26 pm § in News Of Economy
World Bank meets to decide fate of Wolfowitz
The board of the World Bank has met to decide the fate of the organisation’s president, Paul Wolfowitz. Wolfowitz has confronted demand for his resignation over the promotion and pay of an ex-colleague with whom he is allegedly romantically involved. And now the forces of the World Bank status[...]
May 11th, 2012 - 1:24 pm § in News Of Economy
Wolfowitz declines calls to relinquish World Bank leadership amid mounting pressure
Paul D. Wolfowitz’s efforts to continue as president of the World Bank received a severe setback on Sunday when a group of two dozen of the world’s finance ministers and leaders of other international organizations delivered an uncommonly public reprimand of his leadership. The developme[...]
May 7th, 2012 - 1:18 pm § in News Of Economy
Wolfowitz’s fate to be decided by WB panel
The World Bank’s board on Friday deferred a final decision on the fate of bank president Paul Wolfowitz, whose role is under scrutiny after the accusations of favoritism shown to his girlfriend at the bank. The World Bank’s board of directors expressed ‘great concern’ over th[...]
May 1st, 2012 - 1:08 pm § in News Of Economy
Chavez threats to nationalise private banks
Venezuela’s President Hugo Chavez seems all set to nationalize the utility sector. Chavez not only brought the country out of the World Bank and IMF and nationalized CANTV, but also threatened to take over Venezuela’s private banks and its largest steelmaker, Ternium-Sidor, whose majorit[...]
May 1st, 2012 - 1:07 pm § in News Of Economy
Wolfowitz might have to say goodbye to his president’s post at World Bank
Before proceeding with the details I would like to tell you that never in the last six decades World Bank has fired its president but all this is expected to change now. The shareholders of World Bank will be meeting to decide upon the future of Paul Wolfowitz and whether he would be fired or [...][...]
April 24th, 2012 - 12:18 pm § in News Of Economy
Face-saving exercise in the making; Wolfowitz working on resignation
The ongoing leadership crisis at the World Bank is heading for a speedy conclusion. Beleaguered World Bank President, Paul Wolfowitz, is negotiating an agreement to resign, if sources are to be believed. Wolfowitz is seeking a face-saving arrangement that would allow him to resign and at the same ti[...]
April 19th, 2012 - 9:49 am § in News Of Economy
Prez Bush favors status quo at WB
President George W. Bush has confirmed what many had expected. On Monday, in an interview with Reuters, he said that he would like to see an American at the helm of the World Bank, once Paul Wolfowitz officially departs. Wolfowitz had announced that he would leave World Bank on June 30, the end of B[...]
April 18th, 2012 - 9:24 am § in News Of Economy
Wolfowitz’s parting shot directed at media
Paul Wolfowitz, the departing president of World Bank, on Monday, once again refused to take the blame for his exit from the Bank. In an interview to the British Broadcasting Corporation, he blamed media and ‘overheated emotions’ at the Bank for his premature departure. Wolfowitz had res[...]