The Latest Breaking News from World Bank

The shareholders of the International Monetary Fund and World Bank on Friday selected Ukrainian Finance Minister Serhiy Marchenko as the next rotating chair of the boards of governors of both institutions in 2023.

Alok Sharma’s intervention puts pressure on Trump-appointed Bank chief who faces calls to resign

Dozens of protesters demonstrated outside the annual meetings of the International Monetary Fund and the World Bank in Washington D.C. on Thursday, expressing opposition to funding of fossil fuels and demanding urgent action to tackle climate change.

As the five economies in mainland Southeast Asia re-emerge from the Covid-19 pandemic, their prospects for recovery and return to growth and development appear challenged, characterised by deteriorating balance of payments, fiscal weaknesses, currency depreciations, and rising inflation amidst global monetary tightening and recession risks.

Kristalina Georgieva told UK’s finance minister and central bank chief that their policies should not be contradictory.

World Bank President David Malpass said on Thursday that the lender is preparing to disburse another $530 million to Ukraine by the end of October, financing enabled by guarantees from Britain and Denmark that brings total World Bank disbursements to the war-torn country to about $11 billion this year.

Eclipsed by rich countries’ own problems, a crunch a decade in the making is coming to a head

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

Climate change poses a significant threat to China, especially for its teeming, economically critical coastal cities.