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Reuters
Reuters
Business
By Andrea Shalal and Stefanno Sulaiman

World Bank chafes at lower capital requirements recommended in G20 report - sources

FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo

The World Bank is seeking to block release of a report prepared for the Group of 20 major economies that calls for lowering the bank's capital requirements to boost its lending capacity, four sources familiar with the matter said.

Proponents of the independent report - due be released on the sidelines of a meeting of G20 finance officials in Indonesia this week - believe the changes would free up much-needed funds for poorer countries at a time when high inflation is making it difficult for rich nations to boost spending overseas.

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