County Summers Financial News
26.07 / 16:29
26.07 / 14:17
Provident
Digital
Extreme
Platform
Action
country
MDBs will have to transform themselves to help developing countries: Summers and Singh
New Delhi: Key for assisting developing countries with a combination of expertise, staying power, low-cost financing, leverage, and knowledge-sharing capabilities, multilateral development banks (MDBs) will need to transform themselves to effectively impact changes, Lawrence Summers and NK Singh have said in an article on Project Syndicate, a digital media platform. For the first time in nearly half a century, the global economy is fracturing rather than coming together due to high interest rates, threats of pandemic, and high debt burden.
24.07 / 18:39
Provident
MET
Action
country
Execs yet to decide on investing after EBRD chief’s meet
New Delhi: While Indian business leaders recently met the president of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, they are yet to make concrete investment commitment with the multilateral development bank that funnels investments to build market economies, two people with direct knowledge of the matter said. “They are on wait and watch mode on investment opportunities," one of the two people cited above said. Basso, who assumed office as the first woman to chief of the EBRD on 19 July, met with Indian business leaders in New Delhi, to discuss investment opportunities in the countries where the bank operates.
23.07 / 11:51
UPS
Provident
Action
Second part of MDB report to review suggestions for reforms, speed of response
New Delhi: The second part of the NK Singh and Lawrence Summers report on strengthening multilateral development banks (MDBs) will review multiple suggestions for reforms, elaborate on operational reforms, speed of response and private capital mobilisation, including prospects for scaling up the Multilateral Investment Guarantee Agency (MIGA). The second part the report, titled 'Strengthening Multilateral Development Banks: The Triple Agenda', will be released in October for discussion by finance ministers ahead of the G20 Annual meeting at Marrakech (Morocco).
19.07 / 18:13
Extreme
Strategy
Mobile
MDBs should partner private cos for development: Report
New Delhi: Development banks should change their approach in order to bring the private sector into the centre of efforts to mobilise finance for sustainable development strategies, according to the independent panel that advise G20 nations on improving the balance sheets of multilateral institutions. In the report titled ‘Strengthening multilateral development banks-the triple agenda’ presented to G20 finance ministers and central bank governors, the nine-member committee argued that development banks should engage with the private sector in a new way, including by co-creating investment opportunities and programmes.
19.07 / 12:35
Extreme
Strategy
Mobile
Centre
‘Private sector should be at the centre of development banks’ sustainability efforts’
New Delhi: Development banks should change their approach to bring private sector into the centre of efforts to mobilize finance for sustainable development strategies, according to the independent panel that advise G20 nations on improving the balance sheets of multilateral institutions. In a report titled ‘Strengthening multilateral development banks-the triple agenda’ presented to the G20 finance ministers and central bank governors, a nine-member committee argued that development banks should engage with the private sector in a new way, including by co-creating investment opportunities and programmes.
18.07 / 19:51
Provident
Action
Mobile
‘MDBs need to spend $3 tn extra’
GANDHINAGAR : Multilateral development banks (MDBs) will need to increase their annual spending by $3 trillion by 2030, including $1.8 trillion for additional climate action and $1.2 trillion for achieving other sustainable development goals (SDGs), according to the recommendations of a committee headed by N.K. Singh and Lawrence Summers. “The international development finance system should be designed to support this spending by providing $500 billion in additional annual official external financing by 2030, of which one-third is concessional funds and non-debt-creating financing and two-thirds in the form of non-concessional official lending," the report said.
17.07 / 15:51
COST
UPS
Lowe's
Action
Mobile
Private capital a challenge for MDBs: NK Singh
GANDHINAGAR : Harnessing private capital is a key challenge for multilateral development banks (MDBs) as the risk-return ratio is not feasible, says NK Singh, who along with former US treasury secretary Lawrence Summers is the co-convenor of a G20 expert group on strengthening MDBs. The first part of the report on developing MDBs by the expert committee will be made public today. India is trying to leverage the G20, of which it holds the rotating presidency this year, to make MDBs more effective for loans to developing countries.
12.07 / 19:55
UPS
Citi
Digital
Progressive
Coherent
International
G20 ministers to discuss crypto-regulation, international tax, development bank finances
New Delhi: G20 finance ministers and central bank governors will be presented a global framework for regulation and supervision of crypto assets as part of policy dialogue that will take place in Gujarat later this month, department of economic affairs secretary Ajay Seth said. In a recorded video message shared by the finance ministry, Seth said that the G20 finance and central bank governors will also be presented the first volume of the report of an independent committee set up by the G20 to strengthen multilateral development institutions.
07.12 / 17:19
business
economy
economics
Banks
fall
Was the fall of FTX really crypto’s ‘Lehman moment?’
The FTX collapse was bad, but how bad? Almost from the moment that the Bahamas-based exchange suspended cryptocurrency withdrawals in early November — and three days before it filed for bankruptcy — the historic comparisons started flying.
15.11 / 07:59
Binance
CEO
NOT
"Crypto Is Not Going Away": Binance CEO Casts Himself As New Saviour
Binances billionaire CEO casts himself as cryptos new savior
28.09 / 04:57
WSJ
Transcript: WSJ Interview With Neel Kashkari and Lawrence Summers
Minneapolis Fed President Neel Kashkari discussed inflation, the economy and interest-rate increases in an interview with The Wall Street Journal on Tuesday, Sept. 27. Here is a transcript, lightly edited for clarity.
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