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Give Wings to Dreams: CoinEx Charity Launches Grant for Fulfilling Dreams
1.6.2023
PRESS RELEASE. According to a report by the World Bank in March 2023, the global poverty rate has reached an alarming figure, with approximately 659 million individuals living in impoverished conditions. Disturbingly, extreme poverty is notably concentrated in Africa. The first quarter of 2023...
Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS
10.5.2023
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping...
India Seeks Common Crypto Framework for All Countries to Deal With ‘Many Collapses and Shocks in Cryptocurrencies’
12.4.2023
India’s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given “so many collapses and shocks in cryptocurrencies.” She stressed: “We seek to develop a common...
Report: Somalia to Fight Inflation and Counterfeiters With New Banknotes
20.1.2023
According to the deputy governor of the Somalian central bank, Ali Yasin Wardheere, the institution plans to fight inflation and currency counterfeiters with newly issued shilling banknotes. The bank reportedly said it hopes to complete the process of replacing old and high-value shilling bills...
World Bank Report Forecasts Bleak Global Economic Outlook, Citing ‘Adverse Developments’ and ‘Long-Lasting Slowdown’
11.1.2023
On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7%...
Report: Morocco Central Bank Governor Says Crypto Draft Law Now ‘Ready’
3.1.2023
A Moroccan draft crypto law, which seeks to protect individuals from the risks associated with crypto trading, is ready and will soon be presented to stakeholders, Abdellatif Jouahiri, the governor of Bank Al-Maghrib (BAM), has said. Adoption of crypto by Moroccan residents is now inevitable hence...
Dollar Loses to Digital Currencies in 2023, Former Russian President Medvedev Says
30.12.2022
Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string of tweets, Dmitry Medvedev gave his two cents on what the future holds for the world, a “humble contribution,” as he...
Strike Launches Bitcoin Lightning Network-Enabled Money Transfers to Africa
7.12.2022
United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send Globally.” The new feature instantly converts...
Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report
7.12.2022
Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed...
Eswatini Central Bank Partners With German Firm to Explore CBDC
19.10.2022
Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their...
World Bank Affiliate IFC Backs Blockchain-Based Platform for Carbon Offsets
17.8.2022
International Finance Corp (IFC), a World Bank affiliate focused on investment in less-developed countries, is backing a blockchain-based platform for the trading of carbon offsets
Lebanon Ponzi Finance: World Bank Says Politicians Are to Blame for the ‘Deliberate Depression’
8.8.2022
Deliberately insufficient policy responses by successive Lebanese governments combined with the self-serving agreements by politicians are largely to blame for the country’s economic crisis, a report by the World Bank has said. The report concludes that the country needs to seriously engage...
Latest Global Findex Survey: Share of Adult Population with a Bank Account Now 76% — 1.4 Billion Adults Still Unbanked
16.7.2022
Between 2011 and 2021, the share of the world’s adult population that had bank accounts rose from 51% to 76%, the findings of the latest World Bank Global Financial Index survey have shown. About 1.4 billion adults are, however, still unbanked, not having the money or the identification...
Why Migrants Are Turning to Crypto: The Key to Attaining the UN Goal to Reduce Remittance Costs to Less Than 3% by 2030
14.7.2022
The cost incurred by African migrants or expatriates when sending funds via the so-called formal corridors remains way above the UN target of less than three percent, the latest data from the World Bank has shown. On the other hand, the cost is much lower than the target when cryptocurrencies...
Report: Morocco’s Central Bank to Unveil Crypto Regulation Bill Soon
27.6.2022
The Moroccan central bank is presently working on a cryptocurrency regulation framework bill and according to the bank’s governor, Abdellatif Jouahri, this is set to be introduced soon. The regulatory framework being worked on will result in Morocco’s money laundering...
Deutsche Bank Expects Sooner, More Severe US Recession as the Fed Takes ‘Aggressive Hiking Path’
21.6.2022
Deutsche Bank has updated its recession forecast. The bank’s economists now see “an earlier and somewhat more severe recession” than previously predicted. “The Fed has undertaken a more aggressive hiking path, financial conditions have tightened sharply and economic data...
World Bank Warns of Global Recession, Stagflation — ‘This Is the Sharpest Slowdown in 80 Years’
9.6.2022
The World Bank has warned of a possible global recession. “For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “This is the sharpest slowdown in 80 years.” World Bank on Global Recession, Stagflation The World Bank warned about...
Central African Republic Moves Ahead With Its Crypto Hub Initiative Despite World Bank's Concerns
26.5.2022
Central African Republic (CAR) President Faustin-Archange Touadéra is readying to launch a new crypto project, dubbed Sango - the first crypto initiative that is designed to strengthen the country’s image as an emerging African crypto hub.
“For us, formal economy is no longer an option,”...
World Bank won’t support Central African Republic’s Sango crypto hub
26.5.2022
The World Bank has said “it will be physically impossible” for the lender to fund the planned Sango crypto hub and voiced concerns regarding the country’s adoption of Bitcoin
World Bank Predicts 3% Gold Price Growth, Expert Says a $3K per Ounce ‘Is More Likely Than Not’
30.4.2022
The World Bank has said it expects the price of gold to rise by 3% in 2022 but warned the price might fall sharply if the Russian central bank decides to offload large quantities of the commodity. The Russian Factor After the price of gold surged past the $2,000 mark in early March, a new […]