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The Latest Breaking News from the World Bank

The Taliban are entrenched in Afghanistan after 2 years of rule. Women and girls pay the price

After two years in power, the Taliban are entrenched as rulers of Afghanistan, facing no significant opposition that could topple them

The Independent UK

Ugandan leader defiant after World Bank cuts off loans over anti-LGBTQ law

Ugandan President Yoweri Museveni has denounced the World Bank's decision to suspend new funding in response to a law targeting LGBTQ+ people, accusing the lender of using money to try to "coerce" the country's government.

Radio France Internationale

Uganda defiant after World Bank halts funding over anti-LGBTQ law

President Museveni says the country will reduce borrowing and not give in to pressure from foreign institutions.

Al Jazeera

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Brothers at ‘war’: Niger citizens bear the brunt of ECOWAS sanctions

The diplomatic standoff between ECOWAS and Niger coup plotters has made life harder for Nigeriens.

Al Jazeera

How much is the Russia-Ukraine war costing?

It’s been almost 18 months since Russia began its invasion of Ukraine and an end to the conflict between the two states seems no closer.

The Week

Was the Radical Left Correct About the IMF and World Bank?

Alex Gladstein on how "monetary colonialism" has crippled the Third World

Reason

World Bank says no new funding to Uganda over anti-gay law

The World Bank says it will not consider new loans to Uganda after the East African country earlier this year enacted an anti-gay bill that rights groups and others have condemned

The Independent UK

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World Bank halts new loans to Uganda over anti-LGBTQ law

US-based lender says controversial anti-gay law contradicts its values.

Al Jazeera

Banks from 4 Arab countries are in talks to invest in struggling Lebanese banks, official says

Banks from four Arab countries are interested in investing in Lebanon’s struggling banking sector, which has been hard-hit by the small nation’s three-year economic meltdown

The Independent UK

Rate hikes may have slowed inflation in the US – but they have also heightened the risk of financial crises for lower-income nations

The campaign to fight U.S. inflation by upping interest rates has been going on for a year and a half – and its impacts are being felt around the world.

The Conversation

Now a wanted man, Lebanon’s central bank head steps down

Amid accusations of fraud, a tarnished end to a governorship that started in 1993 at the request of the PM.

Al Jazeera

World Bank to provide assessment of damages due to Himachal floods

The World Bank has offered to provide full support to flood-affected Himachal Pradesh and will provide a comprehensive assessment of the damages which will aid reconstruction efforts, a statement issued here on Friday said.

The Hindu

Top economists call for action on runaway global inequality

Gulf between rich and poor increases risk of climate breakdown as well as entrenches poverty, says letter to UN and World Bank

The Guardian - UK

Looking for work? 3 tips on how social media can help young South Africans

South Africa has a growing unemployment rate. Statistics show the unemployment rate to be above 60% for those aged 15-24 and over 40% for those aged 25-34 years. Rankings from the World Bank position South Africa as having the highest unemployment rate in the world.

The Conversation

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Al Jazeera

China-based development bank rejects claims of CCP control

Asian Infrastructure Investment Bank says internal review shows lender follows ‘highest standards’ of governance.

The Hindu

Pakistan hopes India would implement Indus Waters Treaty in 'good faith'

Pakistan has expressed the hope that India would implement the Indus Waters Treaty in “good faith” after New Delhi

The Hindu

India rejects ruling by Permanent Court of Arbitration in dispute with Pakistan

Bagchi said India’s consistent and principled position has been that the constitution of the so-called Court of Arbitration is in contravention of the provisions of the Indus Waters Treaty.

Tribune News Service

Spending bill targets Kerry’s office, global climate spending

WASHINGTON -- House Republican appropriators want to eliminate funding for John Kerry’s position as President Joe Biden’s special envoy and for other international climate efforts.

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Roll Call

Spending bill targets Kerry's office, global climate spending - Roll Call

House Republican appropriators want to eliminate John Kerry's job, one of the cuts they would make to climate spending.

Al Jazeera

Is a global debt bomb about to explode?

The majority of low-income nations are on the cusp of a debt crisis, sparking fears of global contagion.

Bangkok Post

Indonesia regains upper-middle income rank on growth rebound

A strong post-pandemic rebound has pushed Indonesia back into the upper-middle income band of countries, according to the World Bank, putting it back on track to pursue its high-income status goal.

Bangkok Post

Eppo prepping hydrogen pilot project

Energy officials plan to push ahead with hydrogen fuel development in an effort to make it one of the main fuels used in the power, transport and industrial sectors, with the aim of becoming less dependent on fossil fuels, says the Energy Policy and Planning Office (Eppo).

Bangkok Post

World Bank puts Thai growth at 3.9%

Thailand's economy is projected to expand 3.9% in 2023 from 2.6% last year because of stronger demand from China, Europe and the US, private consumption growth and a recovery in tourism, says the World Bank in its semi-annual Thailand Economic Monitor.

The Hindu

World Bank to provide nearly ₹3000 crore for flood prevention in the city

The State government is in the final stages of finalising an action plan for a World Bank project to prevent floods in the city. The project will make a whopping ₹3000 crore available for flood mitigation in the city, parts of which have been flooded over the years including in…

Bangkok Post

World Bank lifts Thailand growth forecast

The World Bank has upgraded its economic growth forecast for Thailand, saying improved performance will be helped by private consumption growth and a recovery in tourism.

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