Friday, October 19, 2018

Tag "Jim Yong Kim"

    World Bank: We were wrong to advise Nigeria to invest hard in infrastructure

World Bank: We were wrong to advise Nigeria to invest hard in infrastructure

Jim Yong Kim, World Bank president, says the institution's advice to countries, including Nigeria to invest hard infrastructure was a wrong approach.Commenting on Nigeria's ranking while unveiling the bank's first-ever Human Capital Index,  Kim said the bank is taking responsibility for its actions.The index measures countries’ contribution of health and education to the productivity of the next generation of their [...]

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    Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria among bottom seven in World Bank’s first ever Human Capital Index

Nigeria has been ranked 152 out of 157 countries in the first-ever Human Capital Index released by the World Bank Group.Unveiling the report on Thursday at the ongoing annual meetings of the World Bank Group and International Monetary Fund (IMF) in Bali, Jim Yong Kim, World Bank president, said educational outcomes from Nigeria are too poor."Nigeria, unfortunately, ranks 152 out of [...]

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    World Bank: African countries’ subsidies help the rich more than the poor

World Bank: African countries’ subsidies help the rich more than the poor

Jim Yong Kim, World Bank president, says subsidies provided by African countries help the rich more than the poor.Speaking to journalists at the ongoing Spring meetings of the International Monetary Fund (IMF) and World Bank in Washington DC, Kim said African countries could raise revenue for investing in health and education by removing these subsidies."They should be better at collecting [...]

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    World Bank: Cryptocurrencies are basically Ponzi schemes

World Bank: Cryptocurrencies are basically Ponzi schemes

Jim Yong Kim, World Bank president, says cryptocurrencies are like Ponzi schemes.Kim joined other experts who have warned against investing in it.In recent times, Bitcoin, a type of cryptocurrency, has become popular across the world."In terms of using Bitcoin or some of the cryptocurrencies, we are also looking at it, but I’m told the vast majority of cryptocurrencies are basically [...]

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    REPORTER’S DIARY: Did Jim Yong Kim quote Buhari out of context?

REPORTER’S DIARY: Did Jim Yong Kim quote Buhari out of context?

I was in the room when Jim Yong Kim, president of the World Bank, said what he said on Thursday in Washington DC. You can call me a witness.Obinna Chima, of THISDAY/ARISE TV, had posed two questions in one.He asked: "What can you tell us about Nigeria, specifically your intervention in the power sector, and also, what is the World Bank [...]

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    Adesina: Money is not Africa’s problem

Adesina: Money is not Africa’s problem

Akinwumi Adesina, president of the African Development Bank (AfDB), says the problem with the African continent is not capital but the lack of bankable projects.Speaking at the global infrastructure forum at the International Finance Corporation headquarters in Washington DC on Saturday, Adesina said to tackle infrastructural deficit in Africa, investments have to be made in capacity building.“I think at the [...]

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    Kim: World Bank will help recover ‘Panama funds’

Kim: World Bank will help recover ‘Panama funds’

Jim Yong Kim, president of the World Bank Group, says the global financial institution would help developing countries recover stolen funds hidden in tax havens.Speaking at a Press conference in Washington, Kim said the World Bank knew about the Panama papers before it became global knowledge.“On the Panama papers, we are extremely concerned about the fact that it’s been revealed [...]

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    I was once a refugee, says World Bank president

I was once a refugee, says World Bank president

Jim Yong Kim, president of the World Bank, has identified with the ongoing migrant crisis in the world, saying he was once a refugee.The 55-year-old Korea born American said this while fielding questions from journalists at the 2015 WBG/IMF annual meeting in Lima, Peru.He commended European countries for their efforts in settling migrants off the coast of Libya.“We've been watching [...]

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    Fuel subsidies ‘must end’, says World Bank

Fuel subsidies ‘must end’, says World Bank

Jim Yong Kim, president of the World Bank has called on world leaders to put an end to fossil fuel subsidies.The president who spoke at the at the opening press conference of the 2015 World Bank/IMF annual meetings in Lima, Peru, said to earnestly combat climate change, fuel subsidies must go.“Climate change affects every nation and every person, but it [...]

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    Global poverty to fall below 10% for the first time ever

Global poverty to fall below 10% for the first time ever

The number of people living in extreme poverty around the world is likely to fall to under 10 percent of the global population in 2015, the World Bank has said.World Bank projections give fresh evidence that a quarter-century-long sustained reduction in poverty is moving the world closer to the historic goal of ending poverty by 2030.Despite the use of an [...]

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October 15, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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