Connect with us

Hi, what are you looking for?


Economic Growth Must Benefits All

With global growth showing solid momentum, the challenge is to make it inclusive, World Bank Chief, Jim Yong Kim, has said last week.

“The challenge now is to ensure that strong growth will translate into inclusive growth, so that the benefits of global economic integration are enjoyed by all members of society,” Kim said at the start 2018 Spring Meeting of the International Monetary Fund and the World Bank in Washington DC last week.

He said: “the global economy is showing solid momentum. We’re expecting global growth to edge up to 3.1 per cent in 2018 – its strongest performance since 2011 – as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices,” Kim said here.

Kim said this period of robust growth is a great opportunity to invest in human and physical capital.  Filling infrastructure gaps, improving education and health outcomes, and increasing female labour force participation could continue to drive growth, he added.

“If policy makers around the world focus on these key initiatives, they can increase their countries’ productivity, boost workforce participation, and move closer to the goals of ending extreme poverty and increasing shared prosperity, the World Bank President has said.

Referring to the Global Findex financial inclusion database, launched by the World Bank this morning, Kim said financial inclusion is on the rise.

“Digital technology is driving access to – and the use of – financial services. But there is still a wide gender gap,” he said.

Kim said the bank would release later in Indonesia a rigorous, detailed measure of the human capital in each country, which will help its member nations invest more – and more effectively – in their people.

“We will be releasing an index to rank countries according to how well they’re investing in the human capital of the next generation. The measurement will provide information that heads of state and finance ministers need to know in order to invest to build human capital, and the index will make those measurements hard to ignore,” Kim said.

Join to receive daily email alerts of breaking news in Ghana. is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Trending Stories


A new COVID conspiracy theory is making the rounds, the theory is linking the ongoing global pandemic with the rollout of 5G communications networks....


Boris Johnson has been moved to intensive care after his condition worsened, Downing Street has said. The prime minister was admitted to St Thomas’...


Ghana’s President Nana Akufo-Addo has announced that the government will take care of water bills of all Ghanaians for the next 3 months. Addressing...


Ghana has confirmed nine additional COVID-19 cases; six from Greater Accra and three from Ashanti region. This brings the total confirmed cases to 214....


Northern Regional Minister Salifu Sa-eed has banned prostitution in Tamale with immediate effect. This comes after a Guinean national who tested positive for the...


Jacques Joaquim Yhombi-Opango, former president of the Republic of the Congo, has died after contracting coronavirus, his family said. Yhombi-Opango died in a Paris...


The Northern Regional Minister, Salifu Saeed, has confirmed that a coronavirus patient who was under quarantine in his region has fled the facility, leaving...


Sixteen persons have been arrested in Kasoa in the Central Region for failing to give tangible reasons why they were in town during the...


A video of a young man paying dearly for refusing to adhere to the directives of the president to remain indoors has emerged barely...


President Nana Akufo-Addo has earned massive praise from some prominent people around the world over list latest statement on the Coronavirus disease (COVID-19). President...


There are now more than 3,200 confirmed cases of coronavirus across the continent, with a number of African countries imposing a range of prevention...


The President for Institute of Liberty and Policy Innovation (ILAPI), Mr Peter Bismark, has stated that Ghana requires GH₡15 billion for 28 days’ total...

Copyright © 2020 GhanaStar Media Group. All rights reserved