Tag Archives: Bank

Pakistan said Wednesday that Saudi Arabia would deposit $3 billion into its central bank to help boost the underfunded Islamic nation’s foreign exchange reserves. Shaukat Tarin, a top official at Pakistan’s Ministry of Finance, also said on Twitter that Saudi Arabia would also supply Pakistan with $1.2 billion worth of …

The European Central Bank (ECB) said Monday it plans to conduct several “climate stress tests” on banks between March and July next year to assess the resilience of the euro financial zone against environmental disturbances. European banking watchdogs want to “identify vulnerabilities, best management practices and challenges” faced by the …

The debt burden in poor countries rose 12 percent to $860 billion in 2020 amid the pandemic. That record level prompted World Bank President David Malpass to call for a “comprehensive plan” Monday to tackle the issue. “A reasonable level of debt at a certain level is important for economic …

The World Bank predicts slower economic growth for developing countries in the East Asia and Pacific region due to the COVID-19 pandemic. A report released by the bank Tuesday said that while China’s economy is forecast to grow 8.5 percent in 2021, the rest of the region will only grow …