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The Latest Breaking News from World Bank

Citing trade wars, the World Bank sharply downgrades forecast for global economic growth to 2.3%

President Donald Trump’s trade wars are expected to slash economic growth this year in the United States and around the world, the World Bank forecast Tuesday

The Independent UK

2020s on course to be weakest decade for global economy since 1960s, says World Bank

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffs

The Guardian - UK

Trump's tariffs will test unity among allies at G7 finance ministers' summit

Leading financial officials from the world’s richest countries are gathering in a Canadian mountain resort this week for what may prove a contentious meeting in the wake of President Donald Trump’s sweeping tariffs

The Independent UK

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Seeking funds to rebuild, Lebanon government works to regain donor trust

Rebuilding is essential after Israel’s war on Lebanon destroyed swaths of the country, but will donors pay?

Al Jazeera

Census delay cuts access to subsidised foodgrain for 120 million Indians

The Census is now four years overdue, and the budget for the exercise has been slashed indicating further delays. This is even as millions of Indians are left without access to subsidised foodgrain, pushing them to the brink of food insecurity. Evidence shows that entitlements under the Public Distribution System…

Newslaundry

Gabon swears in ex-military chief Oligui as president

The former general, who led coup that ended Bongo family’s 55-year rule, swept the elections last month.

Al Jazeera

African diplomats urge UK government to back bill to speed up debt restructurings

Countries are struggling to manage expensive loans, with much of debt transacted through London

The Guardian - UK

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Saudi Arabia and Qatar to repay Syria’s debts to the World Bank

The payment of Syria's outstanding loans could help the country regain World Bank support and financing, which has been stalled for more than 14 years now.

Euronews

Developing Countries Should Fast-track US Trade Deals: World Bank President

Developing countries should strike swift trade deals with the United States at the "earliest possible" opportunity, the president of the World Bank told AFP Friday, after a busy week with global financial leaders in Washington.

International Business Times

Tensions over Kashmir and a warming planet have placed the Indus Waters Treaty on life support

In 1995, World Bank Vice President Ismail Serageldin warned that whereas the conflicts of the previous 100 years had been over oil, “the wars of the next century will be fought over water.”

The Conversation

Stunned resignation and foreboding: a week in Trump’s shadow at IMF

Few policymakers mention US president by name, but his tariffs dominate IMF-World Bank meeting

The Guardian - UK

US Treasury Secretary says IMF and World Bank need reform

Treasury Secretary Scott Bessent said the institutions “serve critical roles in the international system. And the Trump administration is eager to work with them — so long as they can stay true to their missions.”

Euronews

Slower growth looms over Eastern Europe as reform urgency rises

Slower growth looms over Eastern Europe and Central Asia as inflation, weak external demand, and structural inertia take hold. The World Bank urges bold reforms to unlock productivity and avoid the middle-income trap.

Euronews

Scott Bessent says the World Bank and IMF need a total overhaul: 'Mission creep has knocked these institutions off course'

Treasury Secretary Scott Bessent, in remarks to the Institute of International Finance on Wednesday, said the two agencies are falling short.

Fortune

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The Conversation

From Doing Business to B-READY: World Bank’s new rankings represent a rebrand, not a revamp

In 2021, the World Bank shut down one of its flagship projects: the Doing Business index, a global ranking system that measured how easy it was to start and run a business in 190 countries.

International Business Times

US Treasury Chief Says IMF, World Bank Must Be 'Fit For Purpose'

The International Monetary Fund and the World Bank "must be made fit for purpose again," US Treasury Secretary Scott Bessent said Wednesday, arguing the institutions should be promoting economic growth instead of social issues.

The Independent UK

Treasury Secretary Scott Bessent says China has ‘opportunity for a big deal’ with US as trade war appears to cool

The Treasury Secretary says the U.S. and China can work together to ‘rebalance’ their respective economies

Fortune

Southeast Asia's Muslim market comes of age—and authenticity is in

From banking to fashion, local businesses are targeting a growing middle-class consumer base keen to buy 'halal'.

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International Business Times

Global Uncertainty Will 'Certainly' Hit Growth: World Bank President

The uncertainty kicked up by Donald Trump's stop-start tariff rollout will undoubtedly hit growth, the president of the World Bank said Wednesday, ahead of next week's semi-annual meeting of global financial leaders in Washington.

Al Jazeera

Penguins, vaccines: Can negotiations save Trump’s oddest tariff targets?

Barely inhabited islands, countries the US enjoys a trade surplus with, and a tariff formula that isn’t about tariffs.

The Independent UK

World Bank employees accused of ‘intimidating’ au pair into forced labor and threatening to have her deported

Exclusive: An au pair from Indonesia claims in a lawsuit obtained by The Independent that the couple refused to let her leave the house without their permission and threatened to have her deported if she told anyone about the mistreatment

The Guardian - UK

World Bank announces multimillion-dollar redress fund after killings and abuse claims at Tanzanian project

Communities in Ruaha national park reject response to alleged assault and evictions of herders during tourism scheme funded by the bank

The Conversation

Foreign aid cuts could mean 10 million more HIV infections by 2030 – and almost 3 million extra deaths

In January, the Trump administration ordered a broad pause on all US funding for foreign aid.

The Guardian - UK

‘All the birds returned’: How a Chinese project led the way in water and soil conservation

The Loess plateau was considered the most eroded place on Earth until China took action and reversed decades of damage from grazing and farming

Roll Call

Trans-Atlantic differences remain as Trump huddles with NATO boss - Roll Call

President Trump and NATO Secretary General Rutte spoke on several topics of disagreement as they met at the White House on Thursday.

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