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The Latest Breaking News from World Bank

Nigeria bets on a new $2.25B World Bank loan to support reforms that have resulted in hardship

The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and back economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country

The Independent UK

Myanmar's economy in crisis as civil strife disrupts trade and livelihoods

Myanmar, once a thriving emerging economy, is struggling to regain momentum as the country's civil war increasingly disrupts trade and livelihoods

The Independent UK

World Bank Upgrades Global Growth Outlook On Resilient US Economy

The World Bank raised its global growth outlook on Tuesday on the back of resilient consumer spending in the United States, but warned that growth remains weak by historical standards.

International Business Times

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World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

The World Bank has upgraded its outlook for the global economy, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States

The Independent UK

Protectionism is slowing growth and entrenching poverty, says World Bank

International cooperation that allowed poorest countries to close gap with wealthiest has fractured, says report

The Guardian - UK

Renault links up with Chinese partner to build $22,000 EV after VW broadside

Renault CEO Luca de Meo was critical of Volkswagen after talks over a joint affordable EV imploded.

Fortune

Philippines Deploys River Rangers In Battle Against Plastic

Using a long-handled net, Ronnel Narvas scoops up discarded plastic soft drink bottles, shopping bags and palm-sized sachets as he wades through a foul-smelling tributary in the Philippine capital Manila.

International Business Times

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Hopes grow of G7 deal to support Ukraine with $300bn in frozen Russian assets

Foreign ministers confident of agreement to use bank assets as security for Ukraine reconstruction loan

The Guardian - UK

Poverty in Lebanon tripled over a decade, World Bank says

The World Bank says poverty in Lebanon has tripled over the course of a decade during which the small Mediterranean country slid into a protracted financial crisis

The Independent UK

World Bank and IMF can press Ghana to rethink ‘punitive’ LGBTQ law, charities say

Charities and campaign groups are calling on bodies to say they may stop funding country if legislation comes into effect

The Guardian - UK

Oil price could exceed $100 a barrel if Middle East conflict worsens, World Bank warns

Increase in cost of crude could drive inflation up and force central banks to keep interest rates high

The Guardian - UK

Vietnam's GDP To Grow 5.5% In 2024, 6.0% In 2025

The World Bank projects positive economic growth for Vietnam, highlighting resilience and potential for development in key sectors like manufacturing and s...

Top News

World Bank suspends Tanzania tourism funding after claims of killings and evictions

Plan to expand Ruaha national park has been beset by allegations of abuse, leading bank to withhold final $50m of $150m budget

The Guardian - UK

World Bank official calls for shake-up of G20 debt relief scheme

Chief economist says common framework has failed to provide any new money to world’s poorest countries since it was set up in 2020

The Guardian - UK

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The Guardian - UK

Most difficult global outlook since 1930s heralds end of US-led world order

IMF has revised up growth forecasts but medium-term prospects remain poor as globalisation goes into reverse

Top News

IMF: Latam Economies Resilient, Need More Growth

IMF and World Bank report highlights resilience of Latin America and Caribbean economies and calls for policies to stimulate higher and inclusive growth.

Top News

Japan And South Korea Unite Against Weak Currencies

Japan and South Korea consider collaborating on addressing weak currencies, urged by IMF and World Bank.

Top News

Japan's Finance Minister Warns Of Excessive Yen Movements

Japan's finance minister warns about yen volatility in global market, stressing stability for economic growth.

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Top News

IMF Report: Sub-Saharan Africa Incomes Lagging Global Growth

IMF and World Bank report highlights challenges and solutions for economic growth in Sub-Saharan Africa.

Top News

UN Official Warns Of Widening Development Gap Risks

Learn about the widening development gap and the urgent need for international cooperation to promote equitable growth and prevent global destabilization.

Top News

World Bank President Ajay Banga Addresses Global Economic Challenges

World Bank and IMF address global economic challenges, focusing on poverty, climate, and conflict. Initiatives include expanding electricity and healthcare...

Top News

Battle For Development Funding Intensifies At IMF/World Bank Meetings

The recent IMF/World Bank meetings highlighted the competition for development funding among member countries, with debates on allocation, terms of loans, ...

Top News

ECB's Centeno: Tight Policy Despite Two Rate Cuts

ECB's President Centeno maintains a cautious monetary policy stance post rate cuts, balancing growth and inflation concerns amidst global economic discussions.

Top News

IDB To Collaborate With Multilateral Banks On Joint Goals Statement

IDB collaborates with IMF and World Bank to align goals for global economic impact and sustainable development.

International Business Times

World Bank Aiming To Connect 250 Mn Africans To Energy Grid By 2030

The World Bank has significantly scaled up its ambition to connect Africans to the electricity grid by 2030, from 100 million to more than 250 million, the Bank's president said Wednesday.

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