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The Latest Breaking News from David Malpass

IMF Head Backs Reforms To Increase China’s Voting Power

IMF's Georgieva supports giving China more voting power amid global economic changes.

Zenger

Ex-Mastercard CEO Ajay Banga confirmed as World Bank leader

Former Mastercard CEO Ajay Banga, an Indian army officer’s son with decades of corporate experience, has been confirmed to lead the World Bank for a five-year term that starts next month

The Independent UK

World Bank elects US nominee Ajay Banga president

He replaces Malpass, who was criticised for his stance on climate change and will step down nearly a year early.

Al Jazeera

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World Bank President Praises Saudi Arabia for Helping Evacuate its Staff from Khartoum

World Bank Group President David Malpass expressed on Tuesday his gratitude and appreciation to Custodian of the Two Holy Mosques, King Salman bin Abdulaziz for the Kingdom’s contribution and support in evacuating the World Bank staff from Sudan to Saudi Arabia. ‎In a letter sent to King Salman, he said:…

Asharq Al-Awsat

Nirmala Sitharaman, World Bank chief discuss empowering women leaders

Union Minister Nirmala Sitharaman on Thursday (local time) participated in a panel discussion on 'Empowering Women as Entrepreneurs and Leaders' in Washington DC. Read further on Dynamite News:

Dynamite News

First Thing: Pentagon leaks linked to young gun enthusiast employee – report

Man known online as ‘OG’ said to have access to classified material and to regard intelligence services as repressive. Plus, why America’s most popular flower ‘never goes out of style’

The Guardian - UK

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there

The Independent UK

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World Bank staff were told to give special treatment to son of Trump official

Exclusive: Leaked recording raises concerns over governance at development bank, at which David Malpass is now president

The Guardian - UK

UN 'appalled' by video of alleged Ukraine POW beheading

Ukrainian President Volodymyr Zelensky on Wednesday denounced Russian "beasts" after a video surfaced on social media purporting to show the decapitation of a Ukrainian prisoner of war. The grisly footage, which prompted outrage and condemnation from UN and EU officials, came as Washington reaffirmed its confidence in Ukraine's military "capability"…

France 24

UK on track to be worst-performing G7 economy this year, says IMF – as it happened

International Monetary Fund forecasts UK GDP will shrink by 0.3% in 2023, worse than other G7 countries

The Guardian - UK

G20 finance heads face reform calls from Global South

Finance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.

Al Jazeera

World Bank's Malpass says Russia's detention of WSJ reporter is 'brazen act'

Russia's detention of Wall Street Journal reporter Evan Gershkovich is a "brazen act" and violates the vital freedom of the press, including the safety of journalists, World Bank President David Malpass said on Monday.

Reuters

US Treasury: World Bank Could Lend $50b More Over Decade With Reform

The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, US Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced. Central bankers, finance ministers and participants from more than 180 member countries…

Asharq Al-Awsat

Are there brighter prospects than at the last IMF meetings? Only just

October saw the UK chancellor in the dock. Now the US’s Yellen will face flak over green subsidies and banking security

The Guardian - UK

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The Independent UK

Biden pick Ajay Banga cleared to take top job at World Bank

The Biden administration’s choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job

The Guardian - UK

World Bank chief calls for dramatic hike in funding to help developing world

Outgoing boss David Malpass says more money needed to combat overlapping crises of war, pandemics and climate emergency

Axios

Exclusive: Biden's World Bank pick sets ambitious course

Ajay Banga: World Bank should focus on both poverty and climate change.

Fortune

Global economy is skidding towards a 'lost decade,' World Bank warns

The past 30 years of economic growth and development could be reversed this decade if governments don't act.

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Asharq Al-Awsat

World Bank Halts Talks with Tunisia over President's Anti-migrant Remarks

The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied, according to an internal message to staff seen by AFP.

Bangkok Post

World Bank halts Tunisia program over president's migrant remarks

WASHINGTON - The World Bank is pausing talks over its future engagement with Tunisia following anti-immigrant comments made by the country's president, Kais Saied, according to an internal message to staff seen by AFP.

Asharq Al-Awsat

World Bank Promises ‘Concessionality’ in Debt Restructuring

The World Bank will "provide as much concessionality to the debt treatment" for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday. The remarks come amid calls by China, the world's largest bilateral creditor, that global lenders…

Fortune

Ajay Banga’s World Bank appointment shows that financial CEOs aren’t toxic anymore

The nomination of the former Mastercard CEO shows how Wall Street has lost its status as America’s biggest corporate villain.

The Independent UK

Ajay Banga: Can former Mastercard chief push World Bank to prioritise climate action?

If selected, Banga will assume a crucial job at the 77-year-old institution that oversees the provision of billions of dollars of funding to developing countries

The Guardian - UK

Joe Biden nominates former Mastercard boss Ajay Banga to lead World Bank

US president puts forward choice to oversee new focus on climate crisis after resignation of Trump appointee David Malpass

The Times of India

US President Joe Biden nominates Indian-American Ajay Banga to lead World Bank

NEW DELHI: Former chief executive officer (CEO) of Mastercard Ajay Banga has been nominated by United States to lead the World Bank, President Joe Biden announced on Thursday.

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