The Latest Breaking News from World Bank

Since the onset of the COVID pandemic in 2020, South Africa has borrowed a total of about US$7 billion (about R106 billion). The money has come from the International Monetary Fund, the New Development Bank, the African Development Bank, and the World Bank.

In tonight's edition: Kenya's incumbent President Uhuru Kenyatta is backing his long-time rival Raila Odinga in the upcoming election. And opposition parties in South Africa protest the budget and World Bank loans. Finally, we head to Kinshasa, where Congolese rumba, which emerged in the 1940's, is still being celebrated today.

By the year 2000, the government of Ghana had borrowed so much that the country was in debt distress. It then subscribed to the Heavily Indebted Poor Countries initiative of the International Monetary Fund and World Bank. Consequently, much of the country’s external debt of over US$4 billion was written…

The World Bank Group on Saturday said it is readying a $350 million disbursement to Ukraine that the group's board will consider by the end of March as part of a plan for short- and long-term financing for the country.

The World Bank's management has approved a plan to use some $1 billion in a frozen Afghanistan trust fund for education, agriculture, health and family programs, according to a bank paper and two sources, in what would be a major boost to efforts to ease the country's worsening humanitarian and…

Uganda aspires to become an upper-middle-income country by 2040. This is classified by the World Bank as a country with Gross National Income per capita income above $4,096. That’s far and above Uganda’s latest figure of under $1,000.

The World Bank will lend Tunisia about $400 million to finance social reforms, the Tunisian government said on Tuesday, as it started talks with the International Monetary Fund on economic reforms. The country, which is suffering from a financial crisis, is seeking to obtain a rescue package from the IMF…

Tunisian president Kais Saied said on Tuesday he will launch a committee to audit all the loans and grants that Tunisia has obtained in the past years, accusing former officials of corruption and looting of funds. "Where did the money go? The people's money should go back to the people,"…

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.