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The Latest Breaking News from World Bank

Indonesia bets a new sovereign wealth fund will finally unlock its potential

Rosan Roselani, Danatara CEO and ally of president Prabowo Subianto, needs to streamline Indonesia's lumbering state-owned giants.

Fortune

Funding for some aid organisations and countries to be cut, minister says

The minister for development said the Government is ‘modernising’ its approach.

Evening Standard

Sudan’s war is an economic disaster: here’s how bad it could get

Since April 2023, Sudan has been engulfed in a devastating war between the Sudanese Armed Forces and the Rapid Support Forces. What began as a struggle for power has turned into a national catastrophe. More than 14 million people have been displaced. Health and education systems have collapsed and food…

The Conversation

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The Supply Chain Maverick: How Leyland Seto Transformed Fortune 500 Giants with Cutting-Edge Tech Amid Soaring Global Disruptions

Amid rising global supply chain vulnerabilities, the World Bank's Global Supply Chain Stress Index (GSCSI) indicates a significant increase in container shipping disruptions caused by extreme weather events.

inkl

Modi government’s equality boast draws ‘intellectual dishonesty’ accusation

IN FULL

The Independent UK

Modi government called ‘out of touch’ for claiming India is one of world’s most equal nations

World Bank data seized upon by government – but economists say it doesn’t paint the full picture

The Independent UK

World Bank's IFC Ramps Up Investment Amid Global Uncertainty

While the world economy faces instability from US President Donald Trump's threats of a global trade war, the International Finance Corporation (IFC) is dramatically ramping up its investment activities.

International Business Times

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The global south needs more than tinkering at a conference: debt forgiveness is the only fair way

Next week, a UN summit in Seville will discuss the future of financing the world’s poorer nations. It should first concede that the old methods have failed

The Guardian - UK

World Bank warns that 39 fragile states are falling further behind as conflicts grow, get deadlier

The world’s most desperate countries are falling further and further behind, their plight worsened by conflicts that are growing deadlier and more frequent

The Independent UK

Wealthy Wall Street recluse claims he was duped by Harvard fellow into funding weapons for alleged coup in South Sudan

Financier Robert Granieri was allegedly duped into handing over millions to fund the purported attempt to topple the South Sudanese government

The Independent UK

World Bank approves $1bn for development projects in Iraq, Syria and Lebanon

The biggest amount went to Iraq, where the World Bank approved $930 million to help improve the country’s railway infrastructure, boost domestic trade and create jobs.

Euronews

World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition

South Africa's National Treasury says the World Bank has granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and help it transition toward a low-carbon economy

The Independent UK

World Bank And IMF Climate Snub 'Worrying': COP29 Presidency

The hosts of the most recent UN climate talks are worried international lenders are retreating from their commitments to help boost funding for developing countries' response to global warming.

International Business Times

World Bank warns the global economy is barreling toward its weakest decade in 50 years

The World Bank cut growth forecasts for 70% of global economies.

Fortune

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The Conversation

Ghana and Zambia have snubbed Africa’s leading development bank: why they should change course

The governments of Ghana and Zambia recently took a decision that could have serious consequences for other African countries. The decision relates to arrangements on how the two countries will repay the debt they owe to Africa Export-Import Bank (Afreximbank).

Euronews

World Bank: Economy set for worst run since 2008 outside of recessions

The group has cut its growth forecasts in nearly 70% of all economies — across all regions and income groups.

The Independent UK

Citing trade wars, the World Bank sharply downgrades forecast for global economic growth to 2.3%

President Donald Trump’s trade wars are expected to slash economic growth this year in the United States and around the world, the World Bank forecast Tuesday

The Guardian - UK

2020s on course to be weakest decade for global economy since 1960s, says World Bank

Washington-based lender cuts its forecast for world GDP growth, blaming Donald Trump tariffs

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The Independent UK

Trump's tariffs will test unity among allies at G7 finance ministers' summit

Leading financial officials from the world’s richest countries are gathering in a Canadian mountain resort this week for what may prove a contentious meeting in the wake of President Donald Trump’s sweeping tariffs

Al Jazeera

Seeking funds to rebuild, Lebanon government works to regain donor trust

Rebuilding is essential after Israel’s war on Lebanon destroyed swaths of the country, but will donors pay?

Newslaundry

Census delay cuts access to subsidised foodgrain for 120 million Indians

The Census is now four years overdue, and the budget for the exercise has been slashed indicating further delays. This is even as millions of Indians are left without access to subsidised foodgrain, pushing them to the brink of food insecurity. Evidence shows that entitlements under the Public Distribution System…

Al Jazeera

Gabon swears in ex-military chief Oligui as president

The former general, who led coup that ended Bongo family’s 55-year rule, swept the elections last month.

The Guardian - UK

African diplomats urge UK government to back bill to speed up debt restructurings

Countries are struggling to manage expensive loans, with much of debt transacted through London

Euronews

Saudi Arabia and Qatar to repay Syria’s debts to the World Bank

The payment of Syria's outstanding loans could help the country regain World Bank support and financing, which has been stalled for more than 14 years now.

International Business Times

Developing Countries Should Fast-track US Trade Deals: World Bank President

Developing countries should strike swift trade deals with the United States at the "earliest possible" opportunity, the president of the World Bank told AFP Friday, after a busy week with global financial leaders in Washington.

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