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The Latest Breaking News from the World Bank

Nigeria bets on a new $2.25B World Bank loan to support reforms that have resulted in hardship

The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and back economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country

The Independent UK

World Bank sees global 'soft landing' but warns of sluggish growth for developing nations

The World Bank has upgraded its global growth outlook for this year, expecting it to hold steady at 2.6 percent for the first time in three years. The latest Global Economic Prospects report, however, warns that growth still remains well below the average of the pre-pandemic decade, with the world's…

France 24

Africa’s freeports should boost trade and foreign exchange earnings – but evidence is thin

The concept of a freeport – an area where normal tax and customs rules don’t apply – has existed for centuries. Over time, different terms have emerged. They include export processing zones, free trade zones, special economic zones and industrial free zones. West Africa has 29 free zones, spanning 11…

The Conversation

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World Bank Upgrades Global Economic Outlook, Cautions On Trade Barriers

World Bank revises global economic outlook for 2024, highlighting growth projections, concerns about trade barriers, and conflicts impacting economic perfo...

Top News

World Bank Upgrades Global Growth Outlook On Resilient US Economy

The World Bank raised its global growth outlook on Tuesday on the back of resilient consumer spending in the United States, but warned that growth remains weak by historical standards.

International Business Times

World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

The World Bank has upgraded its outlook for the global economy, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States

The Independent UK

Protectionism is slowing growth and entrenching poverty, says World Bank

International cooperation that allowed poorest countries to close gap with wealthiest has fractured, says report

The Guardian - UK

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Investors have bid against each other to buy Australia’s first green bond. Here’s why that’s a great sign

You might think government debt is bad, but it actually plays a crucial role in modern finance.

The Conversation

Mexico's president vows to press ahead with changes to Constitution despite market nervousness

Mexico’s outgoing president has pledged to press ahead with judicial reforms despite nervousness among investors, and suggestions from his own handpicked successor that he should wait

The Independent UK

African countries could unlock billions in local and global trade – what’s working and what’s not

Africa’s share of global trade remains disproportionately small, hovering around 2%-3%. Countries on the continent trade more with the rest of the world than they do among themselves. Africa needs to improve its share of trade to boost growth and reduce poverty.

The Conversation

Swiftonomics: what we can learn from Singapore multiplying millions from Taylor Swift’s Eras tour

When Taylor Swift picks a country to “Shake It Off”, it might help the nation’s economy to shake off the impacts of the global economic slowdown.

The Conversation

Kenyan President Warns Debt Clouds Africa Climate Potential

Africa's vast potential in the global fight against climate change is at risk due to the heavy burden of debt and lack of international investment, Kenyan President William Ruto said Thursday.

International Business Times

Poverty in Lebanon tripled over a decade, World Bank says

The World Bank says poverty in Lebanon has tripled over the course of a decade during which the small Mediterranean country slid into a protracted financial crisis

The Independent UK

Lebanon’s economic crisis endures, as does the EU’s ‘fear’ of refugees

Analysts question whether EU grants to Lebanon have anything to do with getting its economy out of the hole it is in.

Al Jazeera

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The Guardian - UK

Cop29 at a crossroads in Azerbaijan with focus on climate finance

Fossil-fuel dependent country hopes to provide bridge between wealthy global north and poor south at November gathering

The Guardian - UK

‘Just by breathing we are contaminated’: schoolgirls fight to extinguish Ecuador’s gas flares

A group of determined teenagers has taken the government to court for not doing more to protect their community from the noxious byproduct of oil extraction in the northern Amazon

The Guardian - UK

The ANC has left South Africa a land of broken dreams. Its time seems over

At this month’s elections, the party of Mandela should be judged on its dismal record over the past 30 years

The Guardian - UK

World Bank and IMF can press Ghana to rethink ‘punitive’ LGBTQ law, charities say

Charities and campaign groups are calling on bodies to say they may stop funding country if legislation comes into effect

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France 24

'Recipe for a Livable Planet': New report on how to make agriculture carbon neutral

The World Bank Group has released a new report outlining how global agriculture and food production can be overhauled in order to cut carbon emissions and limit global warning to 1.5°C above pre-industrial levels. In this edition, we speak to Julian Lampietti, Global Agriculture Practice Manager at the World Bank,…

Al Jazeera

South Africa: 30 years after apartheid, what has changed?

Big socio-political gains have followed apartheid but the legacy of racism and segregation is still starkly visible.

The Guardian - UK

Oil price could exceed $100 a barrel if Middle East conflict worsens, World Bank warns

Increase in cost of crude could drive inflation up and force central banks to keep interest rates high

The Guardian - UK

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

Brazil, Germany, Spain and South Africa sign motion for fairer tax system to deliver £250bn a year extra to fight poverty and climate crisis

Al Jazeera

‘Forced’ move: Rwandans grapple with own fears over UK asylum seeker plan

Amid high unemployment and a housing crisis, many in Rwanda are apprehensive about the $272m migrant deal with the UK.

Top News

Vietnam's GDP To Grow 5.5% In 2024, 6.0% In 2025

The World Bank projects positive economic growth for Vietnam, highlighting resilience and potential for development in key sectors like manufacturing and s...

The Guardian - UK

World Bank suspends Tanzania tourism funding after claims of killings and evictions

Plan to expand Ruaha national park has been beset by allegations of abuse, leading bank to withhold final $50m of $150m budget

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