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Debt, Inflation Affecting Global Growth – World Bank

Published

4 years ago

April 18, 2022

The two big problems facing global growth are debt and inflation, the World Bank said on Monday.

The President, David Malpass made the remark at Spring Meetings 2022 Media Roundtable.

He said due to high debt and deficit levels, countries are under severe financial stress with sixty per cent of low-income ones in debt distress or at high risk.

On steps to fix the situation, Malpass suggested the establishment of a timeline for forming creditors’ committees and suspension of debt service payments and penalty interest.

Others are expanding eligibility, using a simple rule so that it can be evaluated and enforced and engaging commercial creditors at the beginning of the process.

On inflation, Malpass said policies need to be adjusted to enhance supply, not just increasing demand.

The chief urged governments and private sectors to ensure that supply will increase and that their policies will foster currency stability to bring down inflation and increase growth rates.

The World Bank advised Central Banks to use more tools under current policies.

“The inequality gap has widened materially, with wealth and income concentrating in narrow segments of the global population.

“Interest rate hikes, if that’s the primary tool, will add to the inequality challenge that the world is facing.

“Central banks can use more of their tools, not just interest rates. Capital is being misallocated now.”

The tools include: changing the duration of their portfolio as it would be helpful to shorten it; encouraging supply through their regulatory policies, and providing forward guidance that fosters currency stability.

Related Topics:#World Bank eceonmic growth Inflation

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Business

Naira Appreciates Against US Dollar After Highest Dip

Published

11 hours ago

November 21, 2025

Editor

The Naira bounced back, recording an appreciation against the United States dollar at the official foreign exchange market after hitting its lowest point this week.

Data from the Central Bank of Nigeria showed that the Naira strengthened to N1,452.13 on Thursday, up from N1,454.19 traded on Wednesday.

This represents a gain of N2.06 against the dollar on a day-to-day basis.

Meanwhile, in the black market, the Naira depreciated by N5 to N1,470 per dollar on Thursday, down from N1,465 recorded the previous day.

The apex bank’s data indicated that the country’s external reserves continued to rise, standing at $44.12 billion as of 19 November 2025, despite the mixed sentiments in the currency exchange market.

Recall that on Wednesday, the Naira recorded its highest depreciation against the dollar at the official FX market.

Business

Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

Published

2 days ago

November 19, 2025

Editor

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.

The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.

This means that the Naira gained N0.6 against the dollar on a day-to-day basis.

Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.

Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.

Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.

Business

Dangote Sugar Announces South New CEO

Published

2 days ago

November 19, 2025

Editor

Dangote Sugar Plc has announced Mr Thabo Mabe, a South African, as its new Group Managing Director and Chief Executive Officer.

This follows the sudden resignation of Mr Ravindra Singhvi, an Indian.

The company disclosed this in a shareholders’ notice on Tuesday, in compliance with Nigerian Exchange Limited regulations.

Mabe’s appointment takes effect from December 1, while Singhvi’s resignation is effective from November 3ⁿ2025. The firm did not state a reason for Singhvi’s resignation.

“Mr Singhvi made significant contributions to the growth and transformation of the company and leaves behind a record of operational excellence,” the statement, signed by Mrs Temitope Hassan, Company Secretary and Legal Adviser, read.