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The Latest Breaking News from the World Bank

Age of globalisation is now the age of instability – and we need a plan

Bridgetown Initiative could be way for rich nations’ development finance words to become action

The Guardian - UK

World Bank: Peace Deal in Yemen Would Push Toward Sustainable Growth

The World Bank has revealed that in case a lasting truce or peace arises, the Yemeni economy could register more sustainable growth within months of the agreement.

Asharq Al-Awsat

Ukraine secures another $5 billion in funding after meetings, prime minister says

Ukraine secured promises of $5 billion in additional funding to support its ongoing fight against Russia amid "fruitful meetings" in Washington this week, Ukrainian Prime Minister Denys Shmyhal told reporters on Friday.

Reuters

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The World Bank Is Still Failing the Poor

Poverty alleviation in the economically weakest parts of the world will require giving the poor a real seat at the table—which the World Bank has…

Foreign Policy

Separating climate change and inequality won't work, says Biden's World Bank nominee

Ajay Banga, the next nominee to lead the World Bank, says it will take trillions of dollars of investment and global partnerships to meet the world's challenges.

WEKU

Workers at anti-poverty World Bank struggle to pay bills

As finance leaders from around the world meet at the World Bank in Washington this week, food service workers at the poverty-fighting organization are highlighting what they see as a galling situation: The workers who put food on the table for an organization whose mission is to fight poverty are…

The Independent UK

'We need to stay engaged with developing countries': World Bank's van Trotsenburg

The World Bank and International Monetary Fund's Spring Meetings kicked off this week with concerns over high inflation, rising geopolitical tensions, climate change and financial instability. World Bank Senior Managing Director Axel van Trotsenburg told FRANCE 24 that "we need to stay engaged with developing countries. More than ever, problems…

France 24

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Wealthy west has little excuse after finally waking up to global debt crisis

As recent banking failures in US and Europe show, rich countries can act quickly when they want to

The Guardian - UK

First Thing: Pentagon leaks linked to young gun enthusiast employee – report

Man known online as ‘OG’ said to have access to classified material and to regard intelligence services as repressive. Plus, why America’s most popular flower ‘never goes out of style’

The Guardian - UK

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there

The Independent UK

Ukraine’s Zelenskyy asks global leaders to seize Russian assets

Ukrainian President Volodymyr Zelenskyy told a gathering of global finance leaders in Washington that his country needed $14.1 billion immediately for critical reconstruction needs and pleaded with officials to use frozen Russian assets to help pay the cost.

Tribune News Service

The Guardian view on the world economy: another bleak era beckons

Editorial: The 2010s were a wasted decade for economies and the environment. The 20s have all the makings of a second

The Guardian - UK

World Bank staff were told to give special treatment to son of Trump official

Exclusive: Leaked recording raises concerns over governance at development bank, at which David Malpass is now president

The Guardian - UK

UN 'appalled' by video of alleged Ukraine POW beheading

Ukrainian President Volodymyr Zelensky on Wednesday denounced Russian "beasts" after a video surfaced on social media purporting to show the decapitation of a Ukrainian prisoner of war. The grisly footage, which prompted outrage and condemnation from UN and EU officials, came as Washington reaffirmed its confidence in Ukraine's military "capability"…

France 24

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Axios

First look: Yellen's cautious optimism on the economy

The Treasury secretary's glass-half-full outlook isn't shared by IMF chief.

The Guardian - UK

UK on track to be worst-performing G7 economy this year, says IMF – as it happened

International Monetary Fund forecasts UK GDP will shrink by 0.3% in 2023, worse than other G7 countries

Al Jazeera

G20 finance heads face reform calls from Global South

Finance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.

Asharq Al-Awsat

US Treasury: World Bank Could Lend $50b More Over Decade With Reform

The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, US Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced. Central bankers, finance ministers and participants from more than 180 member countries…

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The Guardian - UK

Are there brighter prospects than at the last IMF meetings? Only just

October saw the UK chancellor in the dock. Now the US’s Yellen will face flak over green subsidies and banking security

Reuters

US welcomes World Bank reforms, pushes for more ambitious changes

The United States on Monday welcomed plans by the World Bank to boost annual lending by $5 billion to middle-income countries to fight climate change and other global crises over 10 years, but said it was pushing for more ambitious changes soon.

Bangkok Post

Outlook for stable gains

Thailand's economy is estimated to expand by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and pent-up demand following China's reopening, according to the World Bank.

Fortune

The World Bank warns that the U.S.—China rift could hurt Asia's growth and 'the global availability of knowledge'

A prolonged U.S.-China trade war will impact investment in Asia, but the reopening of China will boost regional economies for now, World Bank said.

Dynamite News

Indian-origin Ajay Banga poised to be World Bank chief unopposed

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank. Read further on Dynamite News:

Asharq Al-Awsat

World Bank Says Recoveries in Asian Economies Losing Steam

Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday. The report forecasts that growth in the region including China will pick up pace this year after the world's No.…

Asharq Al-Awsat

Egypt, Europe Agree to Support ‘Food Security’ Efforts

Egypt and the EU have signed a grant agreement of $40 million to support food security challenges. The grant comes within the framework of the European Union's support for the food security in Egypt program, funded by a grant of €100 million.

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