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The Latest Breaking News from World Bank

Sri Lanka says World Bank agrees to provide $600M in financial aid

The World Bank has agreed to provide Sri Lanka with $600 million in financial assistance to help meet payment requirements for essential imports, the Sri Lankan president's media division said in a statement on Tuesday.

Reuters

Ukraine war ‘will mean high food and energy prices for three years’

World Bank says biggest commodity shock since 1970s raises spectre of stagflation

The Guardian - UK

Food, fuel price shocks from Ukraine war to last at least 3 years, World Bank says

Global food and fuel price shocks linked to the Russia-Ukraine war are set to last until at least the end of 2024 and raise the risk of of stagflation, the World Bank said in its latest Commodities Market Outlook report.

Reuters

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Biggest energy shock since 1970s: World Bank

Energy prices have surged since the Russian invasion of Ukraine and, along with other commodities, are likely to remain at "historically high" levels through 2024, endangering economic growth, the World Bank warned Tuesday.

Bangkok Post

How to design a pandemic fund

With over two-thirds of the African continent still unvaccinated against Covid-19, it is clear that the global pandemic preparedness and response (PPR) regime remains seriously underfunded and lacking in resilient, effective delivery systems. While the World Health Organization's Access to Covid-19 Tools Accelerator (ACT-A) has helped to address the gross…

Bangkok Post

World Bank and IMF gathering underscores a bleak global outlook

If Russia’s invasion of Ukraine is hurting developed countries, it’s proving a hammer blow for the poor

The Guardian - UK

Egypt Seeks Increasing Private Sector Participation in Economic Activities

Egypt has a new document for the state ownership policy, a national strategy aimed at maximizing the participation of the private sector in economic activity, announced Finance Minister Mohamed Maait. The Minister indicated that this "reassures" local investors, attracts foreign investments, and enhances the confidence of international institutions. Maait met…

Asharq Al-Awsat

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Saudi Arabia Expects Stronger Growth in Non-Oil Sector

Saudi Minister of Finance Mohammed al-Jadaan said he is expecting stronger-than-expected growth this year in the non-oil sector underpinned by the structural reforms under Vision 2030. Jadaan asserted that the Kingdom remains committed to prudent policies to maintain monetary and financial stability and preserve a solid fiscal position while accelerating…

Asharq Al-Awsat

The Philippines may vote Bongbong Marcos into office, even though his parents stole billions from the country

On a plane stuffed with diamonds, art, gold and $1 million in cash, Imelda and Ferdinand Marcos fled the Philippines in disgrace. Three decades later, their son is set to become the country's next president.

ABC News

Russia's standing in G-20 not threatened by Ukraine invasion

Despite Russia's invasion of Ukraine, Moscow's membership in the Group of 20 remains firmly intact

The Independent UK

Indonesia's Indrawati says palm oil export ban will hurt other countries, but necessary

Indonesia's new palm oil export ban will hurt other countries but is necessary to try to bring down the soaring domestic price of cooking oil driven up by Russia's war in Ukraine, Indonesia's finance minister told Reuters on Friday.

Reuters

World Bank, IMF, WTO leaders urge quick action on action plan to address food security

The leaders of the International Monetary Fund, World Trade Organization and the World Bank on Friday called for quick work on a new action plan on food security to be prepared by international financial institutions.

Reuters

Saudi Arabia Stresses Importance of Cooperation to Support Global Economic Recovery

Saudi Arabia underlined the importance of international cooperation to support global economic recovery and prevent negative repercussions amid the current international circumstances. Saudi Minister of Finance Mohammad Al-Jadaan revealed the Kingdom’s continuous efforts to support people and countries in need, including its recent provision of urgent support in the amount…

Asharq Al-Awsat

Russia-Ukraine war: List of key events on day 58

As the Russia-Ukraine war enters its 58th day, we take a look at the main developments.

Al Jazeera

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ABC News

Ukraine latest: Russia's second phase aims for full control of Ukraine's south and corridor to Moldova, commander says

A deputy commander says Russia plans to take full control of Donbas and southern Ukraine, improving access to Moldova and a pro-Russian breakaway region Kyiv fears could be used to launch fresh attacks.

The Guardian - UK

Russia-Ukraine war latest: UN secretary general set to meet Putin and Zelenskiy – as it happened

Invasion of Ukraine ‘intended only as a beginning’, president says, as Moldova summons Russian ambassador over military commander’s comments on breakaway region

The Guardian - AU

Russia plans to hold sham independence vote in southern Ukraine, Zelenskiy says

Ukraine president warns citizens against handing over personal information, as satellite images of mass graves emerge near Mariupol

The Guardian - AU

Russia-Ukraine war: what we know on day 58 of the invasion

Zelenskiy says Russia rejected a proposed Easter truce, but remains hopeful of prospects for peace, as Moscow faces accusations of war crimes in Mariupol

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ABC News

The Prime Minister's failure to establish a federal ICAC looks like a broken promise

The Prime Minister blamed a lack of "bipartisan support" for his government's failure to establish a federal anti-corruption body. But the evidence suggests it's a broken promise.

Al Jazeera

Russia-Ukraine latest updates: UN chief to meet Putin in Moscow

Ukraine news from April 22: Guterres will meet Russian President Putin on Tuesday to press for fighting to stop.

Reuters

World Bank estimates Ukraine physical damage at roughly $60 billion so far

Physical damage to Ukraine's buildings and infrastructure from Russia's invasion has reached roughly $60 billion and will rise further as the war continues, World Bank President David Malpass said on Thursday.

Reuters

G20 agrees to set up global pandemic preparedness fund

G20 countries have provisionally agreed to set up a global fund for pandemic preparedness, likely to be housed at the World Bank.

Reuters

IMF steering committee skips communique after Russia blocks war language

Russia's refusal to agree to strong language condemning its war in Ukraine prevented the steering committee of the International Monetary Fund from issuing a formal communique during its meeting this week, the chair of the committee said on Thursday.

Asharq Al-Awsat

Iraq’s Water Resources ‘Down 50 Percent’

Iraq’s water resources have plunged 50 percent since last year, due to repeated periods of drought, low rainfall and declining river levels, a government official told AFP on Thursday. Oil-rich Iraq, despite its mighty Tigris and Euphrates rivers, is classified as one of the world’s five countries most vulnerable to…

Reuters

Yellen says U.S. to give Ukraine another $500 million to keep government running

The United States will give Ukraine another $500 million in to help its government continue critical government operations, doubling the $500 million aid pledge by President Joe Biden in March, U.S. Treasury Secretary Janet Yellen said on Thursday.

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