The Latest Breaking News from World Bank

The pandemic is not over. While the summer of this year is very different from the summer of 2020, because we now have vaccines, treatments, and a better understanding of the virus, it's not enough. Every week, 15,000 people still die from Covid-19. Poorer countries still struggle to deploy vaccines,…

RECAP: Asian markets sold off sharply on Friday and Europe followed as investors braced for a hefty US rate hike next week amid growing concerns of a global recession following warnings from the World Bank and the International Monetary Fund.

The ASX and Wall Street stumble again on worries about steep interest rate rises next week by the Federal Reserve, and after the Reserve Bank governor says more rate rises are needed to curb inflation. The World Bank warns of a global recession because of higher rates.

Major economies are delivering interest rate increases to quash domestic inflation.

The World Bank is willing to provide up to $30 billion to combat global food shortages aggravated by Russia's invasion of Ukraine and has so far disbursed almost $10 billion in financial aid pledged to Kyiv, a senior bank official said on Thursday.

Savers held up two banks in Lebanon on Wednesday to demand access to their own deposits frozen in the country's paralysed financial system, underlining desperation among citizens unable to access savings since an economic crisis began in 2019.

The Lebanese Central Bank has lifted its remaining subsidies on fuel

The World Bank commended the recent developments in Yemen, describing them as "glimmers of hope" provided by the UN-sponsored truce agreement, the transfer of power, and the $3.3 billion Saudi and Emirati financing package. However, the World Bank said in a recent study that despite these encouraging developments, achieving a…

Rebuilding Ukraine following the devastation caused by the Russian invasion will cost an estimated $349 billion, according to a report issued Friday. But the figure, which totals 1.5 times the size of the Ukrainian economy, is considered a minimum and is expected to grow in the coming months as the…