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The Latest Breaking News from World Bank

World Bank warns 108 countries risk being stuck in ‘middle-income trap’

Too many nations, including China and India, are relying on outmoded strategies to become advanced economies, says report

The Guardian - UK

World Bank Approves $1.5 Billion Ethiopia Rescue Package

The World Bank has approved a $1.5 billion financial package to support cash-strapped Ethiopia's economic reform programme after officials loosened curbs on the local currency.

International Business Times

How Israel has brought the Palestinian Authority to the brink of financial collapse

Israel’s ultranationalist finance minister, Bezalel Smotrich, announced in May that he would be witholding tax revenues earmarked for Palestine. The decision was made in response to Spain, Ireland and Norway’s recognition of a Palestinian state.

The Conversation

From analysis to the latest developments in health,
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What do the IMF and foreign debt have to do with Kenya’s current crisis?

Critics say IMF provides loans to desperate African countries on stringent terms, disproportionately affecting the poor.

Al Jazeera

Millions in Nigeria have little to no electricity. It's straining businesses and public services

The lack of reliable electricity severely affects education and businesses in Nigeria

The Independent UK

Bretton Woods: bloodied, battered but still a huge international achievement 80 years on

In July 1944, with war still raging in Europe and the Pacific, 730 delegates from 44 countries gathered at the Mount Washington, a grand hotel built at the turn of the century in New Hampshire. They were on the edge of a little town called Carroll, surrounded by a national…

The Conversation

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

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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

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

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

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The Independent 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 Guardian - 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

Top News

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...

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The Guardian - UK

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

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.

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.

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