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The World Bank is an international financial institution that provides loans and grants to the governments of low-and middle-income countries for the purposes of economic development. [6] The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA ...
A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$14,005 or more in 2023, calculated using the Atlas method. [1] While the term "high-income" is often used interchangeably with " First World " and " developed country ," the technical definitions of these terms differ.
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production, consumption, economic management, work in general, financial transactions and trade of goods and services.
In April 2009, IMF had changed their Global recession definition to "A decline in annual per‑capita real World GDP (purchasing power parity weighted), backed up by a decline or worsening for one or more of the seven other global macroeconomic indicators: Industrial production, trade, capital flows, oil consumption, unemployment rate, per ...
Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
The World Bank Group finances economic development projects in poor, often unstable countries in pursuit of a lofty ambition: ending global poverty. Borrowers that accept a loan from the World Bank, which lends to governments, or the IFC, which lends to companies, must follow detailed rules for protecting people and the environment, under an ...
The Canadian economy experienced overall weakness from the start of 1980 to the end of 1983, with low yearly real GDP growth rates of 2.1% and 2.6% in 1980 and 1983, respectively, and a steep 3.2% decline in real GDP for 1982. [7] As with other G7 countries, Canada had two separate economic contractions in the early 1980s. [6]