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Philippines to miss 2019 economic growth target – World Bank

Oct 10, 2019 - 10:05 PM

Global trade tensions and domestic politics spoil the Philippines' dream to be among Asia's economic juggernauts

Developing country debt jumps to $7.8 trillion in 2018 – World Bank

Oct 03, 2019 - 4:45 PM

The 5% increase in the total foreign debt of developing nations in 2018 is driven by a surge in Chinese debt

(FILES) This file picture taken on September 24, 2013 shows Chinese 100-yuan (RMB) bank notes being counted at a bank in Huaibei, in eastern China's Anhui province. China's central bank on August 11, 2015 devalued its yuan currency by nearly two percent against the US dollar, as authorities seek to push market reforms and boost the world's second-largest economy. CHINA OUT AFP PHOTO / FILES

Africa poses critical challenge for World Bank, IMF

Jul 21, 2019 - 8:15 PM

There is a need for massive investment in infrastructure and job creation in the coming years just to keep pace with Africa's growing population

POVERTY. People walk along an open sewer in a slum in Africa. Photo from Shutterstock

Ivory Coast must overhaul key cocoa sector – World Bank

Jul 11, 2019 - 10:45 PM

'Despite its importance to the Ivorian economy and society, the cocoa sector is not playing its role as the engine of economic development,' says the World Bank

Women sort cocoa beans at a cocoa exporter's in Abidjan, on July 3, 2019. - In June key producers Ivory Coast and Ghana threatened to stop selling their production to buyers unwilling to meet a minimum price of $2,600 per tonne. The two African nations -- which together account for 60 percent of the world's cocoa production -- want to end a situation where cocoa producers make only $6 billion in a global chocolate market worth around $100 billion. (Photo by Sia KAMBOU / AFP)

FALSE: Aquino admin obtained 'secret' $500-million loan from World Bank

Jul 06, 2019 - 7:27 PM

The World Bank approved a loan for Yolanda victims in 2013 but the Aquino administration did not hide this information

Crumbling roads, grids cost poor nations billions due to storms – World Bank

Jun 20, 2019 - 3:15 PM

The World Bank says the effects of disasters in low- and middle-income nations are worsened by poor management of bridges, roads, and electricity grids

A police line is placed at a damaged bridge following torrential rain in Bogor, West Java on April 28, 2019. Photo by Rangga Firmansyah/AFP

Reforms, transparency needed for Belt and Road success – World Bank

Jun 20, 2019 - 2:10 PM

The World Bank says China's Belt and Road Initiative has the potential to boost trade and investment, but only if China and other nations make policy reforms

BELT AND ROAD. Chinese President Xi Jinping (C) and other leaders pose for a group photo session at a welcoming banquet for the Belt and Road Forum at the Great Hall of the People in Beijing on April 26, 2019. Photo by Jason Lee/Pool/AFP

World Bank slashes 2019 growth as global trade slackens

Jun 05, 2019 - 9:25 AM

The greatest danger on the horizon is the prospect of worsening trade clashes between major world economies

OAKLAND, CALIFORNIA - MAY 13: A container ship sits in the San Francisco Bay on May 13, 2019 in Oakland, California. China retaliated to U.S. President Donald Trump's 25 percent tariffs on $250 billion of Chinese goods entering the United States with a 25 percent tariff on $60 billion of U.S. goods entering China. The Dow Jones Industrial Average plunged over 700 points on the news in morning trading. Justin Sullivan/Getty Images/AFP

Venezuela claims 130,000% inflation, below international estimates

May 29, 2019 - 6:24 PM

Millions of people have fled the country as astronomical rises in the cost of consumer goods and broader economic woes have made food and basic supplies unobtainable for average people

Philippines eyes better ease of doing business ranking

Apr 16, 2019 - 8:00 PM

Trade Secretary Ramon Lopez says the Philippines is aiming for a ranking higher than 95th, after accomplishing 33 out of 43 planned reforms

Photo from Shutterstock

Cyclone Idai damages estimated at $2 billion: World Bank

Apr 13, 2019 - 10:02 AM

"To date, about three million people have been affected, with near total damage in the worst affected areas," says the World Bank

AFTERMATH. Fernando Joao Sengelani helps to clean his friend's shop in Buzi, Mozambique, on March 23, 2019, after the area was hit by the Cyclone Idai. Photo by Yasuyoshi Chiba / AFP

Brexit delay averts 'terrible outcome' – IMF's Lagarde

Apr 12, 2019 - 12:57 PM

However, the IMF chief says: 'It's obvious that it's continued uncertainty and it does not resolve, other than by postponing what would have been a terrible outcome'

ARAB DEBT. Christine Lagarde warns of high public debt among Arab nations. File photo courtesy of the IMF

[ANALYSIS] How the Marcos-World Bank partnership brought PH economy to its knees

Apr 02, 2019 - 9:15 AM

The World Bank provided dictator Ferdinand Marcos a curtain of international legitimacy behind which he and his cronies plundered the public till

World Bank cuts 2019 Philippine growth outlook again

Apr 01, 2019 - 2:30 PM

The World Bank says the Philippines' delayed 2019 budget and El Niño are likely to hurt economic growth

World Bank leadership search likely to end with U.S. candidate – again

Feb 05, 2019 - 2:45 PM

The World Bank has been led by an American ever since it was founded in the aftermath of World War II. Will this change?

A person walks by the building of the Washington-based global development lender, The World Bank Group, in Washington on January 17, 2019. - World Bank current President Jim Yong Kim announced on January 7, 2019, that he would cut short his tenure as president more than three years before his second term was to end. The World Bank Board said it would start accepting nominations for a new leader early next month and name a replacement for Kim by mid-April 2019. (Photo by Eric BARADAT / AFP)

Ivanka Trump to help U.S. choose candidate for World Bank

Jan 15, 2019 - 3:22 PM

Jessica Ditto, the White House Deputy Director of Communications, says reports that Ivanka Trump 'is under consideration are false'

IVANKA. In this file photo, Ivanka Trump walks through the lobby of Trump Tower on November 21, 2016 in New York City. File photo by Spencer Platt/Getty Images/AFP

World Bank warns brewing trade storm jeopardizes global economy

Jan 09, 2019 - 3:29 PM

Growth of the world economy is expected to slow to 2.9% this year, and 2.8% in 2020, slightly below the previous forecast

World Bank President Jim Yong Kim announces resignation

Jan 08, 2019 - 9:02 AM

World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's February 1 departure

RESIGNATION. In this file photo, World Bank President Jim Yong Kim speaks at a press conference during the 2016 International Monetary Fund, World Bank Spring Meetings at the IMF headquarters on April 14, 2016. File photo by Mandel Ngan/AFP

[ANALYSIS] Ease of doing business: Why is the PH rank plummeting?

Nov 08, 2018 - 9:30 AM

Under President Duterte's watch, we've gone down the global Doing Business ranking by 25 notches all in all – by far the largest decline in ASEAN

Philippines: bad for business, hotbed for journo murders | Evening wRap

Nov 02, 2018 - 8:48 PM

Watch the evening wRap with Quita Chuatico

PH slips 11 notches in World Bank's ease of doing business ranking

Nov 02, 2018 - 1:28 PM

The Philippine government rejects the findings, as Philippine finance and trade officials urge the World Bank to correct the 'inaccurate and understated findings'

Nearly half the world lives on less than $5.50 a day – World Bank

Oct 17, 2018 - 4:35 PM

According to the report, the number of poor worldwide is still 'unacceptably high,' while the fruits of economic growth are 'shared unevenly across regions and countries'

Seeds of next global financial crisis being sown, top officials warn

Oct 14, 2018 - 7:02 PM

The world economy is still growing but faces an 'unprecedented' combination of threats, the International Monetary Fund warns during an annual meeting with the World Bank

EXPERTS. International Monetary Fund Managing Director Christine Lagarde (C-front) poses with finance ministers and Central Bank governors during a group photo at the International Monetary Fund (IMF) and World Bank annual meeting in Nusa Dua, on Indonesia's resort island of Bali on October 13, 2018. Photo by Stephen Jaffe/International Monetary Fund/AFP

World Bank offers disaster-hit Indonesia $1 billion in loans

Oct 14, 2018 - 2:59 PM

World Bank CEO Kristalina Georgieva says the funds could be used for reconstruction and the country's disaster resilience efforts

AFTERMATH. A man walks past vehicle wreckage as a collapsed mosque is seen in the background in Palu, Indonesia's Central Sulawesi on September 30, 2018, following the September 28 earthquake and tsunami. Photo by Adek Berry/AFP

'Winter is coming,' Indonesian leader warns amid economic gloom

Oct 12, 2018 - 3:08 PM

Joko Widodo's offbeat reference to the wildly popular show draw applause from the audience attending the annual meetings of the International Monetary Fund and World Bank in Bali

'WINTER IS COMING.' Indonesia President Joko Widodo delivers his speech at the International Monetary Fund (IMF) and World Bank annual meetings in Nusa Dua, on Indonesia's resort island of Bali on October 12, 2018. Photo by Sonny Tumbelaka/AFP

[ANALYSIS] Upper-middle income Philippines by 2019: How true?

Oct 10, 2018 - 10:18 AM

If becoming an upper-middle income country was hard enough – it took us more than 3 decades to do that – becoming a high-income country (like Singapore or South Korea today) will be harder still

You want good quality teachers? Pay them right – World Bank expert

Oct 06, 2018 - 10:30 AM

World Bank education specialist Javier Luque says teachers' salaries should be similar to other professions that require the same level of training and dedication

SALARY RAISE. World Bank education specialist Javier Luque says salary increases help to ensure quality of teachers. File photo by Jose Del/Rappler

Persistent high inflation may slow down poverty reduction – World Bank

Oct 04, 2018 - 6:01 PM

World Bank Senior Economist Rong Quan says high inflation is hitting the poor harder as food and transport account for two-thirds of their expenses

World Bank downgrades 2018 Philippine economic outlook

Oct 04, 2018 - 2:19 PM

The World Bank says the Philippines' growth trajectory is positive but lower than expected

GROWTH. The World Bank cuts the growth forecast for the Philippines in 2018, but says the economy will remain strong in the coming years. Photo by Jire Carreon/Rappler


Entrance exams needed in schools for teacher education – World Bank expert

Oct 03, 2018 - 6:28 PM

There should also be an exit exams, says World Bank senior education specialist Javier Luque in a forum organized by the Philippine Business for Education

POOR PERFORMANCE. Takers of the Licensure Examination for Teachers have been performing badly in the last 10 years. File photo by Joel Liporada/Rappler

World Bank pitches ways to boost Philippine economic growth

Sep 27, 2018 - 2:35 PM

The Philippines is aiming to roar along with Asian tigers by 2040. To do this, the country needs to triple the gross domestic product per capita in two decades.

Families live in concrete pipes used as makeshift dwellings along a street in Manila on March 22, 2016.  Roughly one quarter of the nation's 100 million people live in poverty, which is defined as surviving on about one US dollar a day, according to government data. / AFP PHOTO / NOEL CELIS

Expert says DepEd's ALS 'not fully effective'

Jul 29, 2018 - 9:30 AM

World Bank education specialist Takiko Igarashi says the Alternative Learning System currently has low participation and passing rates

SATURDAY SCHOOL. An Alternative Learning System class is held in Muntinlupa City. Photo by Jee Geronimo/Rappler

Midas Marquez faces graft complaint over World Bank issue

Jul 02, 2018 - 12:10 PM

The complaint is filed by a private citizen named Rjhay Laurea, the same person who filed the opposition against Marquez’ candidacy for Supreme Court justice

COMPLAINT. Private citizen named Rjhay Laurea files a graft complaint against Court Administrator Midas Marquez at the Office of the Ombudsman on July 2, 2018. Photo by Rappler

Complainant opposes Midas Marquez' SC application, cites 'misused' World Bank funds

Jun 21, 2018 - 1:48 PM

Private citizen Rjhay Laurea files the opposition with the Judicial and Bar Council (JBC), which is screening Marquez and other applicants for Supreme Court Justice

Court Administrator Jose Midas Marquez during the Impeachment proceedings on Wednesday. Photo by DARREN LANGIT

Guevarra on Calida, Puyat on Tulfo brothers, ABC cancels Roseanne | Evening wRap

May 30, 2018 - 7:47 PM

Watch Rappler's evening newscast with Marguerite de Leon

PH economy growing but poverty still high – World Bank

May 30, 2018 - 2:10 PM

'Despite the generally good economic performance, poverty remains high and the pace of poverty reduction has been slow,' says the World Bank in its latest report on poverty in the Philippines

REDUCE POVERTY. World Bank Program Leader for human development Gabriel Demombynes and Senior Economist Xubei Luo give a general assessment of the poverty situation in the Philippines. Photo by Sofia Tomacruz/Rappler

Roque on blacklisted Chinese firms, PH in competitive rankings, House on BBL | Evening wRap

May 24, 2018 - 7:02 PM

Watch Rappler's evening newscast with Marguerite de Leon

China firms in Marawi rehab once blacklisted by World Bank

May 14, 2018 - 11:00 AM

These two Chinese firms are now part of the Bangon Marawi Consortium, a group of Chinese and Filipino companies tapped to rebuild areas hit by the Marawi siege

BLACKLIST. China State Construction Engineering Corporation and China Geo Engineering Corporation were sanctioned by the World Bank's anti-corruption unit in 2009.

Majority of Filipinos still have no bank account – World Bank

May 06, 2018 - 9:00 PM

While the gap remains, the number of Filipino adults holding formal bank accounts is now higher, accelerated by mobile phones and the internet

'Can you lend more?' Duterte asks ADB to fund more infra projects

May 05, 2018 - 9:14 PM

'We shall continue to rely on the ADB for financial assistance, be it in the form or loans or grants,' President Rodrigo Duterte says at the 51st Annual Asian Develoment Bank Meeting

BUILD BUILD BUILD. President Rodrigo Duterte asks Asian Development Bank for more loans. Malacañang Photo

World Bank expects stable 6.7% growth for PH in 2018, 2019

Apr 12, 2018 - 8:00 PM

'Any growth above 6.7% would require vigorous investment in physical and human capital to push the economy beyond its current potential output,' says the World Bank

World Bank recommends free trade zone in Basilan, Sulu, Tawi-Tawi area

Apr 08, 2018 - 8:30 AM

'With zero tariff and few non-tariff barriers, Basulta could return to a version of the barter trade that made it prosperous in the past,' says the World Bank

UNLIKE ANY OTHER. Magnificent sunrise in Tandu Banak, Sibutu. Photo by Glen Santillan/Rappler

BDO, World Bank tie up for $150-million green bonds

Dec 10, 2017 - 10:00 PM

The World Bank is the sole investor in the issuance which is expected to curb 93,000 tons of carbon dioxide emissions per year by 2022 through the funding of climate-smart projects

Workers with good behavioral skills get better pay – study

Nov 23, 2017 - 8:45 PM

A World Bank study finds that more firms have difficulty looking for workers 'with appropriate socioemotional skills'

SOFT SKILLS. A World Bank report says Phiilippine employers are looking for workers with good behavioral skills.

ASEAN leaders to sign commitment on protection of migrant workers

Nov 10, 2017 - 3:53 PM

ASEAN leaders are set to sign the ASEAN Consensus on the Protection and Promotion of Rights of Migrant Workers on November 14

'Sobering,' PCC says of drop in PH ease of doing business ranking

Nov 02, 2017 - 6:31 PM

The Philippine Competition Commission calls the drop in the country's ranking a ‘sobering account of our performance in attracting new investors and putting up new businesses in the country’

PH slides 14 notches in World Bank's ease of doing business ranking

Nov 01, 2017 - 3:36 PM

The pace of reforms in the Philippines is slower compared to many other countries, including several regional neighbors

PH can be ASEAN model for migration policies – World Bank

Oct 09, 2017 - 2:22 PM

A new World Bank study says ASEAN countries should reform their migration policies to boost labor mobility and promote the welfare of migrant workers in the region

MIGRATION. OFWs ready to leave the Philippines for better income opportunities. Photo by Noel Celis/AFP

#ThewRap: Things you need to know, October 6, 2017

Oct 06, 2017 - 11:00 AM

Hello! Here are the stories you shouldn't miss this Friday.

Achieving peace in Mindanao key to PH economic growth – World Bank

Oct 05, 2017 - 8:30 PM

The World Bank says long-standing armed conflict in Mindanao makes it challenging to unlock the growth potential of the region, which is a major source of agricultural products

UNLOCKING MINDANAO. World Bank says increasing productivity in Mindanao could reduce prices for food and other goods across the country and improve the competitiveness of the agriculture sector. Rappler graphics by Raffy De Guzman