WASHINGTON (Reuters) – In Brazil, bank customers can access their accounts aboard a floating bank on the Amazon River. In Mexico, rural residents find banking services inside popular stores like Walmart (WMT.N: Quote, Profile, Research, Stock Buzz) or 7-Eleven, or at their local pharmacy.
Mobile technology and regulatory reforms have made it easier and cheaper for private and public companies around the world to offer banking services to the poor, youth, women and rural residents, and others who lacked access.
WASHINGTON, Nov 11 (Reuters) – In Brazil, bank customers can
access their accounts aboard a floating bank on the Amazon
River. In Mexico, rural residents find banking services inside
popular stores like Walmart or 7-Eleven, or at their
Mobile technology and regulatory reforms have made it easier
and cheaper for private and public companies around the world to
offer banking services to the poor, youth, women and rural
residents, and others who lacked access.
WASHINGTON, Nov 6 (Reuters) – The World Bank on Wednesday
said its private sector arm issued about $165 million in
‘women’s bonds,’ the first debt sale by the development lender
specifically aimed at raising money for businesses owned or run
by women in emerging markets.
The International Finance Corporation (IFC) issued the new
five-year, triple-A rated bond to Japanese investors. It follows
the World Bank’s sale of several billion dollars in “green
bonds” over the past five years, whose proceeds go to help
countries cut greenhouse gas emissions and adapt to climate
WASHINGTON (Reuters) – President Barack Obama’s top health official apologized on Wednesday for the botched rollout of the government’s healthcare website, acknowledging it was a “debacle”, while also blaming insurers for cancelling coverage for hundreds of thousands of people.
Health and Human Services Secretary Kathleen Sebelius, testifying at a congressional hearing on the troubled website at the heart of Obama’s healthcare overhaul, vowed to win back the confidence of millions of disappointed Americans.
WASHINGTON, Oct 29 (Reuters) – The United States said
Tuesday it plans to use its leverage within global development
banks to limit financing for coal-fired power plants abroad as
part of Washington’s international strategy to combat climate
The U.S. Treasury said it would only support funding for
coal plants in the world’s poorest countries if they had no
other efficient and economical alternative.
WASHINGTON (Reuters) – Two Republican congressmen on Sunday defended Washington’s surveillance programs abroad in reaction to protests from allies, after the wide scope of the eavesdropping was revealed this year by former spy agency contractor Edward Snowden.
Mike Rogers, chairman of the House of Representatives intelligence committee, said much of the public information on those efforts, including allegations that the U.S. National Security Agency had spied on millions of French citizens, was misguided.
WASHINGTON (Reuters) – International Monetary Fund officials relaxed some fiscal and other targets for Jordan under its $2 billion loan program as the country struggles to deal with an influx of Syrian refugees and energy supply disruptions.
The IMF officials on Saturday agreed to give Jordan about $258 million, its third tranche of aid under a three-year loan program started last year to help the Middle Eastern country speed up economic reforms and boost growth.
WASHINGTON (Reuters) – Emerging market countries on Saturday griped about the plodding progress in giving them more power at the International Monetary Fund.
The global lender, after its annual meetings this weekend, failed to meet a deadline originally self-imposed for 2012 to make historic changes meant to give emerging markets a greater say. The changes, a topic at each meeting since the deadline passed, would make China the third-largest member and cutting Europe’s representation on the IMF’s board.
WASHINGTON (Reuters) – Global finance chiefs on Saturday told the IMF to stand ready to aid emerging market economies that could be destabilized by a sudden flight of capital when the U.S. Federal Reserve and other central banks back away from ultra-loose monetary policies.
The International Monetary Fund’s governing panel, after a semi-annual meeting, acknowledged the risks posed by a transition toward more normal policies in advanced economies, and it urged nations not to delay preparations.
WASHINGTON (Reuters) – Central banks of advanced economies must try to limit collateral damage to emerging markets when the time comes to tighten monetary policy, the International Monetary Fund’s steering panel said on Saturday.
The panel acknowledged that the ultra-accommodative policies first embraced by the U.S. Federal Reserve and other major central banks during the 2007-2009 crisis have supported world growth and remain appropriate.