The Latest Breaking News from World Bank

A month after the volcanic eruption and tsunami which devastated much of Tonga, the World Bank estimates the Pacific kingdom's recovery will be costly.

The World Bank is temporarily relocating staff from Ukraine and has suspended staff missions to the country due to the tensions on the border with Russia, according to an internal memo seen by Reuters on Monday. The World Bank said it was closely monitoring the situation at the border, where…

Two years into an economic meltdown the World Bank says is one of the worst recorded, Lebanon's rulers have proposed a way to plug a huge hole in the financial system they were blamed for making: savers will foot most of the bill, not banks or the state. The plan,…

To diversify exports beyond textiles, Pakistan is offering firms incentives and applying pressure to step up exports.

A Vatican envoy criticized Lebanon's politicians on his visit to Beirut on Tuesday, calling for an end to "the few profiting of the suffering of many" in a financial crisis which has plunged the bulk of the country into poverty. Archbishop Paul Gallagher's remarks come one week after the World…

A government plan for tackling Lebanon's financial crisis projects a 93% devaluation of the Lebanese pound and converts the bulk of hard currency deposits in the banking system to local currency, according to a blueprint seen by Reuters. Of $104 billion of hard currency deposits, the plan foresees returning just…

The International Monetary Fund and World Bank on Monday said they would postpone plans to hold their 2022 annual meetings in Marrakesh, Morocco, until October 2023, because of uncertainty about the COVID-19 pandemic. This year's annual meetings will instead take place in Washington in October, the two global institutions said…

In 2021, the World Bank estimated internet penetration in India stood at 41 percent. With low data charges, this number is set to grow further and that’s good news for advertising platforms like Google and Facebook, which have emerged as major players in the digital advertising space. For the internet…

The project, funded by the World Bank, will send 250 megawatts of Jordanian energy to power-starved Lebanon via Syria.