WASHINGTON,08 JUNE 2020 (IFC)—The impact investing industry is continuing to attract investors in spite of the global recession caused by the COVID-19 pandemic, according to IFC, a member of the World Bank Group. Impact investing remains relatively small, with a market size of up to US$2.1 trillion, according to a new report, Growing Impact—New Insights […]
Tag: economy
Posted inTop Stories
Palau, ADB working on debt ratio analysis
The Palau government is working with the Asian Development Bank (ADB) for a debt-to-gross domestic product (GDP) analysis which is expected to be pushed higher following a planned loan to mitigate the COVID-19 economic impact. Finance Minister Elbuchel Sadang last week said that debt-to-GDP ratio is currently at 30 percent and that they plan to keep the […]
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Remengesau says multilateral banks should consider high-income classification
President Tommy Remengesau Jr. said that international financing agencies need to step up and reframe country classifications to reflect the capacity of countries to respond to shock events like COVID-19. Palau is classified as a “developed” nation or high-income country which limits access to funds from multilateral banks. Remengesau brought up this issue with other Pacific […]
Posted inWorld News
Japan plunges into recession as US states start opening up
NEW YORK (AP) — Japan’s economy plunged into recession in the first quarter as the coronavirus pandemic squelched business activity, while leaders in the U.S. and Europe are weighing the risks and rewards of lifting COVID-19 restrictions knowing that a vaccine could take years to develop. India, meanwhile, recorded its biggest single-day surge with 5,242 […]
Posted inPacific News
Coronavirus ‘grim reality’: World economy to shrink by 3.2 per cent, new UN report projects
NEW YORK, 14 MAY 2020 (UN NEWS CENTRE) — Against the backdrop of the raging COVID-19 pandemic, the world economy in 2020 is projected to shrink by 3.2 per cent, racking up some US$8.5 trillion in overall losses – wiping out nearly four years of output gains, according to a mid-year economic analysis by the […]
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300 of expected 700 applicants have filed for WIOA assistance
WIOA (Palau Workforce Innovation and Opportunity Act) or commonly known as the WIA office located within PCC, is open to help unemployed individuals and people from the private sector whose jobs or sources of livelihoods have been terminated, reduced or cut due to COVID-19, apply for US federal assistance. The assistance is called “Pandemic Unemployment […]