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The Latest Breaking News from the World Bank

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

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.

The Conversation

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.

International Business Times

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Scott Bessent says China must move away from export overcapacity and American overreliance: 'Everyone knows it needs to change'

Treasury Secretary Scott Bessent, in remarks to the Institute of International Finance on Wednesday, said, “America first does not mean America alone,” sharing that more than 100 countries have come to the table to talk trade deals.

Fortune

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.

International Business Times

Can Bitcoin save Bhutan’s struggling economy?

Amid a brain drain and economic woes, Bhutan has used cryptocurrency to double the salaries of its civil servants.

Al Jazeera

Argentina Receives $42 Bn From International Financial Institutions

Three international financial institutions announced $42 billion in fresh support for financially troubled Argentina on Friday, as its president said his country's economy will grow "like never before."

International Business Times

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Demand-centric labor-intensive industries may help our shrinking middle class

Indonesia’s current account deficit pressures the middle class, forcing them to use their savings. The rupiah’s volatility has increased import costs, reducing household expenditure. Additionally, 81,290 layoffs between 2024 and 2025 and a significant decrease in middle class spending, from 21.45% in 2019 to 17.13% in 2024, paint a bleak…

The Conversation

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 Independent 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 Guardian - UK

Macron calls malnutrition a 'fight for peace' as donors pledge €25bn

French President Emmanuel Macron underlined the global need to fight malnutrition amid uncertainty over global development aid funding, as Paris hosts the Nutrition for Growth summit. By the end of the first day, the summit had seen pledges of €25 billion.

Radio France Internationale

Future of Gaza’s recovery may be solar

Facing destroyed infrastructure and limited control of energy supplies, off-grid options like solar are helping Pal

Salon

Mali embraces solar power for rural areas but the challenges are still vast

A solar power plant in this rural corner of Mali has jolted a village to life and awakened dreams of steady power in this West African nation

The Independent UK

World Bank estimates $11B needed to rebuild Lebanon after Israel-Hezbollah war

The World Bank says the cost of reconstruction and recovery for Lebanon following the 14-month Israel-Hezbollah war is estimated at $11 billion

The Independent UK

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The Guardian - UK

Allowing foreign firms to sue governments for lost profits is legal terrorism – it must end

Investor–state dispute settlements don’t just mean growing debt burdens for countries: they are also a barrier to action on the climate crisis

Evening Standard

Bank of England warns of ‘substantial’ risks to UK from Trump tariffs

Governor Andrew Bailey cautioned over the ‘major shift’ going on in the US after President Trump imposed trade tariffs on various countries.

The Independent UK

Voices: Musk is wrong about foreign aid – it’s how countries show their character to the world

IN FOCUS: The evidence shows international aid – when spent correctly – can bring tremendous benefits and save millions of lives, writes expert and author Stefan Dercon. But if helping people cope with deprivation won’t convince the Maga crowd, advocates of aid spending will have to try a different argument

The Conversation

If US attempts World Bank retreat, the China-led AIIB could be poised to step in – and provide a model of global cooperation

Donald Trump’s animosity toward multilateralism and international organizations is well known. Just hours after taking office on Jan 20, 2025, the U.S. president announced his intention to withdraw from the World Health Organization and the Paris agreement on climate change.

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The Independent UK

Ukraine war in numbers: Full toll of Russia’s invasion, three years on

Monday marks three years since Russia launched its full-scale invasion of Ukraine on 24 February, 2022. Alicja Hagopian and Tom Watling report on the many costs of Putin’s war

The Guardian - UK

Another ceasefire is under threat from Trump – the precarious deal between Lebanon and Israel

Israel, seemingly with the US president’s blessing, has kept troops inside Lebanon. Renewed conflict with Hezbollah is looming. Renewed conflict with Hezbollah is looming, says Mohamad Bazzi, director of the Hagop Kevorkian Center for Near Eastern Studies

International Business Times

Mongolians Warm Up On Culture At New Winter Festival

A festival in a frigid park on the edge of the world's coldest capital in February might not sound like a crowd-puller -- but in Mongolia an inaugural celebration of nomadic culture was in fine fettle this week.

Al Jazeera

Can new Africa Energy Bank power a continent while protecting the planet?

A long-planned bank to fund oil and gas projects in Africa must balance profit with climate considerations, experts say.

The Guardian - UK

‘Devastating’: Malawi left in dire straits by Trump’s decision to freeze aid

African nation relies on US and other foreign donors to help fund healthcare projects and schools

Fortune

Cambodia's largest bank credits a unique investment for its 'exponential' growth

In Channy, president of ACLEDA Bank, says a proper office convinced ordinary Cambodians to trust the bank: “They say...I want to make sure you exist!”

The Guardian - UK

US job creation slowed in January; UK can’t say ‘job done’ fighting inflation, say’s BoE’s Pill – as it happened

US economy added 143,000 new jobs last month, fewer than expected

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