Ripple’s XRP gains stablecoin status from World Bank
The World Bank has officially recognized Ripple’s native cryptocurrency, XRP, as a stablecoin. This classification marks a significant milestone for Ripple and its digital asset, underscoring its growing acceptance and utility in the global financial landscape. The discussion around this development was sparked by a tweet from a well-known Ripple supporter, leading to further insights […]
Ghana’s Central Bank Initiates Interest Rate Cut Amid Economic Crisis
TL ; DR The Bank of Ghana has opted for a reduction in its primary interest rate, a significant shift in monetary policy. After its worst economic crisis in decades, the central bank lowered the interest rate by 100 basis points to 29%. It is the first rate cut since 2021. This decision follows a […]
Tunisia Navigates Debt Challenges Amidst African Strain
TL ; DR In a recent announcement, Tunisia Finance Minister Sihem Boughdiri confirmed that the country has successfully managed its financial obligations for 2023. Given the immense pressure on the nation’s public finances, this news is a relief to many who had concerns about the potential for a default. However, this achievement masks a deeper […]
World Bank sounds alarm on global economic growth
The economic landscape is shifting dramatically, and the World Bank is at the forefront, sounding a resounding alarm. In a stark revelation, the institution has projected that the global economy is bracing for its most sluggish growth spurt in three decades. This forecast, poised to redefine economic narratives in 2024, underscores a looming challenge that […]
World Bank debuts first digital native note (DNN) on Luxembourg Stock Exchange
The World Bank has executed the listing of its “first digital native note (DNN)” on the Luxembourg Stock Exchange (LuxSe). Valued at €100 million, this milestone is part of a broader initiative to set up a sustainable digital framework for issuing DNNs. The execution involved key industry players such as Citi, TD Securities, and Euroclear, […]
Highlights from the recent IMF and World Bank summits
Amidst a backdrop of Middle East unrest and an earthquake-recovering Morocco, the notable week-long annual summits of the International Monetary Fund (IMF) and World Bank have drawn to a close. The vibrant Moroccan city of Marrakech became the epicenter for candid discussions on pressing global economic concerns. From global debt and inflationary pressures to the […]
U.S. clout on the line as World Bank & IMF reset
When the powerful leaders of the world congregated at last month’s G20 summit in New Delhi, a significant side meeting took place. It wasn’t just another political handshake, but a crucial encounter that sought to redefine the future of global economic diplomacy. At the core of this encounter was the U.S., striving to refresh its […]
G20 roars: Reformed World Bank to take center stage
The ground has shifted in the power corridors of global finance. The recent G20 summit held in New Delhi witnessed a strong push for expanding the scope and influence of multilateral lenders, primarily the World Bank. The audacious voices from influential corners of the globe are clamoring for transformative changes that could redefine global financial […]
China’s AIIB gets major World Bank partnership
An emblematic partnership has surfaced in the global banking sector. The Asian Infrastructure Investment Bank (AIIB), often considered China’s alternative to the World Bank, has initiated a high-stakes collaboration. This monumental alliance comes amidst accusations that China’s Communist party has been manipulating the bank from behind the scenes. A significant accord for AIIB The governing […]
Fiji’s new prime minister is considering adopting BTC as a legal tender
Sitiveni Rabuka, a pro-Bitcoin advocate, has recently been appointed Prime Minister of the Pacific Islands of Fiji. Surprisingly enough, Mr. Rabuka is seriously contemplating introducing Bitcoin as a legal tender in his country. Although Rabuka has remained tight-lipped about his thoughts on Bitcoin, Lord Fusitu’a, a respected former member of parliament from Tonga, has allegedly […]
