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Archive for July 3rd, 2012

World Bank Group Support to Promote Growth and Overcome Poverty in Developing Countries Hits Nearly $53 Billion in 2012

Posted by Business in Ghana on July 3, 2012

Demand remains above FY08 pre-crisis lending levels; IFC and MIGA post increases

WASHINGTON, June 29, 2012  The World Bank Group committed $52.6 billion in loans, grants, equity investments, and guarantees to help promote economic growth, overcome poverty, and promote economic enterprise in developing countries during fiscal year 2012, which ends on June 30.

World Bank Group Commitments

fiscal years 2012 and 2011 (in US$ billions)

World Bank Group FY12* FY11*
IBRD 20.6 26.7
IDA 14.7 16.3
IFC 15+ 12.3+
MIGA 2.3 $2.1
TOTAL 52.6 57.4
*Preliminary and unaudited numbers as of June 29.
+Own account only. Excludes more than $5 billion in FY12 and $6.4 billion in FY11 in funds mobilized from other investors.

The Bank recently lowered its growth forecast for 2012 to 5.4 percent for developing countries, down from its June estimates of 6.2 percent, and noted that developing country budgets and central banks are not as well placed as they were in 2008/09 to address slowing economies Their ability to respond may be constrained if international finance dries up and global conditions deteriorate sharply. Read the rest of this entry »

Posted in Financial Services, Uncategorized | Tagged: , , | 1 Comment »

The President is sick. Take it or Leave it

Posted by Business in Ghana on July 3, 2012

By  Daniel Danquah Damptey,

Sickness is not something we wish for ourselves, not even for our worst enemies. As long as we remain mortal, sickness and diseases will remain part and parcel of our life. I see nothing wrong with someone falling ill. An Akan axiom says that “Se woton wo yarea a na wonya ano aduro”. Translated literally, it means if you tell people your ailments, you get medicine for it.

The prevalent disease in both my maternal and paternal families is diabetes.  Almost every sibling of my mother suffered or is suffering from that disease. Two out of my seven surviving siblings are known carriers of that disease. I went for the test and it came out negative. But that was a little over a year ago.

The diabetic trait in the family has made us all conscious of how we lead our lives. We have also become each other’s keeper. Personally, I like sweet things and my family is always on me to cut down on the quantity of sweet intake in my diet. But this is something which affects the Damptey family and the ordinary people of Abomoso. I cannot say so about other families. Read the rest of this entry »

Posted in Daniel Danquah Damptey, Politics | Tagged: , , , | 3 Comments »