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In the 1970s, the World Bank re-conceptualized its mission of facilitating development as being oriented around poverty reduction. [8] For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by environmental and social safeguards.
Jamaica's initial quota was in the amount of US$20,000, which was allocated to the IMF in February 1963. Subsequently, Jamaica has increased its quota shares in 1966 (twice),and again in 1969, 1970, 1978, 1980, 1984, 1992, 1999, and in 2016. As of today, Jamaica has an outstanding (unpaid) loan in the amount of 528.78 million SDR's. [28]
This research – which was published notably in the 1974 book Redistribution with growth – helped the Bank move to a more poverty-focused approach in the mid- and late 1970s. [4] Chenery's work was wide-ranging but might be summarised as involving the analysis of patterns of development, the use of a two-gap model and multi-sectoral analysis ...
World Bank Group's Franziska Ohnsorge joins Yahoo Finance Live to discuss inflation, recessionary risks, rising rates, and the outlook for the global economy.
During Robert McNamara's 13 years at the World Bank, he introduced key changes, most notably, shifting the Bank's economic development policies toward targeted poverty reduction. [1] Before his tenure at the World Bank, poverty did not receive substantial attention as part of international and national economic development; the focus of ...
Mexico Crude oil prices from 1861 to 2011. The Latin American debt crisis (Spanish: Crisis de la deuda latinoamericana; Portuguese: Crise da dívida latino-americana) was a financial crisis that originated in the early 1980s (and for some countries starting in the 1970s), often known as La Década Perdida (The Lost Decade), when Latin American countries reached a point where their foreign debt ...
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
Other stories published today by HuffPost and ICIJ include an overview detailing the reporting team’s key findings, a look at mass evictions in Ethiopia tied to a World Bank project and an examination of a Peruvian gold mine backed by the bank’s private-sector investment arm. ICIJ and its partners will publish more stories in the coming ...