Road Ahead Remains Bumpy for the World

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Show me the money!  Where is the beef?  Or how about:

"We can’t wait for a return to growth in high-income countries,” says World Bank Group President Jim Yong Kim.

Meanwhile, see why the road ahead remains bumpy for the world here.

More according to The World Bank:

The World Bank estimates global GDP grew 2.3 percent in 2012, compared with last June’s expectation of 2.5 percent. Growth is expected to remain broadly unchanged at 2.4 percent growth in 2013, before gradually strengthening to 3.1 percent in 2014 and 3.3[1] percent in 2015.

[1] Using 2005 purchasing power parity weights, global growth would be 3.0, 3.4 and 4.2 percent for 2012, 2013 and 2015, respectively.

Full report:  Prospects for the Global Economy

Meet the New Global Tax Collector: World Bank

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Jim Yong Kim, the new head and 12th President of the World Bank, proposed that the Bank advise troubled developed nations like Greece and advise rich countries.

“While Jim Yong Kim emphasized that his top priority would be to protect developing nations at a “pivotal moment” for a world economy that is losing steam rapidly, he said the bank could also deploy its technical know-how to help richer nations with structural problems. “We only go into countries when asked, but I feel the kind of expertise we have could be relevant in many, many countries in the world, including high-income countries,” the Korean-born American told reporters on his first day on the job. “My staff feel they have the relevant experience that could add value …”

Read the entire article here.


Photo courtesy: Wikipedia