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The Latest Breaking News from World Bank

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

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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

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).

The Conversation

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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.

Euronews

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 Independent 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

The Guardian - 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

The Independent UK

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?

Al Jazeera

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…

Newslaundry

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.

Al Jazeera

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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.

The Conversation

Tensions over Kashmir and a warming planet have placed the Indus Waters Treaty on life support

In 1995, World Bank Vice President Ismail Serageldin warned that whereas the conflicts of the previous 100 years had been over oil, “the wars of the next century will be fought over water.”

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The Guardian - UK

Stunned resignation and foreboding: a week in Trump’s shadow at IMF

Few policymakers mention US president by name, but his tariffs dominate IMF-World Bank meeting

Euronews

US Treasury Secretary says IMF and World Bank need reform

Treasury Secretary Scott Bessent said the institutions “serve critical roles in the international system. And the Trump administration is eager to work with them — so long as they can stay true to their missions.”

Euronews

Slower growth looms over Eastern Europe as reform urgency rises

Slower growth looms over Eastern Europe and Central Asia as inflation, weak external demand, and structural inertia take hold. The World Bank urges bold reforms to unlock productivity and avoid the middle-income trap.

Fortune

Scott Bessent says the World Bank and IMF need a total overhaul: 'Mission creep has knocked these institutions off course'

Treasury Secretary Scott Bessent, in remarks to the Institute of International Finance on Wednesday, said the two agencies are falling short.

The Conversation

From Doing Business to B-READY: World Bank’s new rankings represent a rebrand, not a revamp

In 2021, the World Bank shut down one of its flagship projects: the Doing Business index, a global ranking system that measured how easy it was to start and run a business in 190 countries.

International Business Times

US Treasury Chief Says IMF, World Bank Must Be 'Fit For Purpose'

The International Monetary Fund and the World Bank "must be made fit for purpose again," US Treasury Secretary Scott Bessent said Wednesday, arguing the institutions should be promoting economic growth instead of social issues.

The Independent UK

Treasury Secretary Scott Bessent says China has ‘opportunity for a big deal’ with US as trade war appears to cool

The Treasury Secretary says the U.S. and China can work together to ‘rebalance’ their respective economies

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