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The Latest Breaking News from World Bank

David Malpass is stepping down as president of the World Bank

Appointed by then-President Trump in 2019, he is leaving before his five-year term expires. Malpass faced backlash over his comments at Climate Week NYC in 2022.

WEKU

Trump pick Malpass stepping down as head of the World Bank

David Malpass is stepping down as president of the World Bank, four years after former President Donald Trump picked him to run the 189-nation agency

The Independent UK

David Malpass will step down as World Bank head

Malpass did not explain his reason for stepping down — but his exit comes months after a climate change-related controversy.

Axios

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Al-Shabaab attacks in Somalia affect communities as far as 900km away – aid agencies need to take note

Policymakers tend to assume that the effects of conflict are felt only where violence occurs. As a result, humanitarian aid, protection efforts or asylum policies largely focus on conflict-hit areas.

The Conversation

India: China should take losses in poor-nation debt rework

NEW DELHI: China must stop taking positions that block debt relief to some of the world’s poorest nations and be willing to take losses on its loans to them, India said in its capacity as the current Group of 20 leader.

The Times of India

Yellen wants bolder World Bank steps on climate change, global issues

U.S. Treasury Secretary Janet Yellen urged the World Bank to map out "bolder and more imaginative" steps on Thursday to address global challenges such as climate change even as it continues to aid individual developing countries.

Reuters

In South Africa, ‘load shedding’ takes a toll on small businesses

Small business owners say the scheduled power cuts are hurting their daily operations.

Al Jazeera

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Inflation and recession: Can the world defeat both in 2023?

No, it must accept one, per conventional wisdom. But Europe’s showing another way, though it won’t be painless either.

Al Jazeera

Time to prepare for the next health emergency

The Covid-19 pandemic has exposed the weaknesses and lack of preparedness of health systems globally. When the virus was at its peak, many low- and middle-income countries struggled to save lives while sustaining essential medical services such as maternal health care, routine childhood immunisation, and the treatment of non-communicable diseases.

Bangkok Post

World Bank Funds Equipping 1,000 Schools in Yemen

The World Bank has launched a project to restore education in Yemen. It aims at facilitating the return of children to schools by providing incentives for teachers and meals for children as well as equipping and rehabilitating more than 1,000 schools across Yemen. “More than 2.4 million school-aged Yemeni girls…

Asharq Al-Awsat

World Bank resumed parallel proceedings on concern over Indus Water Treaty - spokesman

- The World Bank said its decision to allow two separate proceedings to resolve a long-running disagreement over water between India and Pakistan to run in parallel was because it feared the stalemate endangered the historic Indus Water Treaty.

Reuters

‘Riding a rollercoaster’ in Myanmar’s post-coup economy

Deepening conflict, sudden changes to regulations and a lack of transparency have made business increasingly hard.

Al Jazeera

Four West African nations get $311 million from World Bank for renewables

The World Bank has signed an agreement with four West and Central African nations worth $311 million to fund renewable energy projects.

Reuters

How telecoms is helping unlock Africa’s true potential

City Voices: 4G networks are powering the continent’s leap forward

Evening Standard

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Asharq Al-Awsat

Regional Power Plan for Lebanon Held up Over Syria Sanctions

Egypt is still seeking assurances that US sanctions will be waived to start exporting gas to Lebanon through Syria under a plan first announced in 2021 to help ease Lebanon's power crisis, a senior French official said on Tuesday. The plan also has yet to go to the World Bank…

Asharq Al-Awsat

IMF Upgrades Outlook for the Global Economy in 2023

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the International Monetary Fund, which now expects the world…

The Independent UK

IMF upgrades its outlook for the global economy in 2023

The Independent UK

World Bank: Myanmar economy to grow 3%, dragged by conflict

World Bank economists say Myanmar's economy grew 3% last year and will likely achieve the same pace in 2023, but still lags far behind where it stood before the army seized power in early 2021

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StockNews.com

5 Unstoppable Stocks You Shouldn't Wait Any Longer to Buy

The Fed’s intention to keep raising interest rates despite the cooling down of inflation could eventually lead to the economy witnessing a recession. Moreover, the World Bank lowered its 2023 global growth forecast by almost half, citing deteriorating economic conditions. Hence, it could be wise to invest in fundamentally sound…

Dynamite News

Pakistan's Intransigence On Indus Waters Treaty Causes India To Issue Notice For Modification Of Treaty

India has issued notice to Pakistan for modification of the Indus Waters Treaty (IWT) of September 1960 after Islamabad's actions adversely impinged the provisions of the treaty, according to sources. Read full story on Dynamite News:

Bangkok Post

Putting a dampener on Thai recovery

After three years in which the economy suffered from Covid effects, I am sorry to say that 2023 will not be the year of economic recovery as everyone had hoped. The global economy will still be plagued by inflation threats and several adverse factors such as excessive debt and the…

The Conversation

Free online courses could be a path to higher education in African countries but awareness is low

Sub-Saharan Africa is one of the largest regions in the world and has the lowest rates of participation in higher education anywhere in the world. The World Bank reported in 2020 that only 9.4% of the region’s tertiary education age group is enrolled. The global average ratio is 38%.

Al Jazeera

Gov’t mismanagement, external pressures as Arab currencies crash

Several Arab countries outside the Gulf have seen currency devaluation and rising inflation.

Fortune

The U.S. might skate past a recession, but the rest of the world may not be as lucky

A debt crisis is combining with other factors to threaten a prolonged economic decline in the developing world.

Reuters

Zambia visits by Yellen, IMF reflect concern over stalled debt talks, China

Two of the world's most powerful finance officials are visiting Zambia this week, a reflection of the growing concern shared by Western officials about how China and other creditors are handling the African country's debt.

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