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The Latest Breaking News from David Malpass

Facing calls to resign, World Bank's Malpass changes answer on climate crisis

Under pressure to resign for declining to say whether he accepts the scientific consensus on global warming, World Bank President David Malpass said on Thursday it was clear greenhouse emissions are causing climate change and defended his record as bank chief.

Reuters

Russia hammers eastern Ukraine city as world seeks to lift grain siege

KYIV, Ukraine: Kyiv's forces may have to retreat from the eastern city of Severodonetsk, a senior Ukrainian official conceded on Wednesday, as diplomatic efforts intensified to unblock grain stuck in Ukraine's ports.

Bangkok Post

World Bank Projects Slow Growth, Warns of ‘Stagflation’ Risk

The World Bank on Tuesday slashed its global growth forecast by nearly a third to 2.9% for 2022, warning that Russia's invasion of Ukraine has compounded the damage from the COVID-19 pandemic, and many countries now faced recession. The bank forecast a slump in global growth to 2.9% in 2022…

Asharq Al-Awsat

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World Bank warns recession 'hard to avoid' and Ukraine war creating a 'perfect storm'

The World Bank is warning the war in Ukraine is combining with other risk factors to create a "perfect storm" and recession will be "hard to avoid".

ABC News

World Bank dims outlook for global economy amid Russia war

The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” — a toxic mix of high inflation and sluggish growth unseen for more than four decades

The Independent UK

Return to the 70s: World Bank warns of weak growth and high inflation

Stagflation feared as global economy suffers fallout from Covid pandemic and Russian invasion of Ukraine

The Guardian - UK

Global recession warning over war in Ukraine from head of World Bank

'Hard right now to see how we avoid a recession'

Wales Online

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Ukraine-Russia latest updates: Moscow slams West for sanctions

Ukraine news from May 26: Moscow presses West to lift sanctions against Russia as it tries to shift food crisis blame.

Al Jazeera

World Bank pledges $12bn to support low-income countries hit by shortages

Move follows warning from head of UN World Food Programme about high prices leading to social unrest

The Guardian - UK

Pricey tortillas: LatAm's poor struggle to afford staples

Across Latin America, the sharpest price spike in a generation has left many widely consumed local products suddenly hard to attain

The Independent UK

Sri Lanka is the first domino to fall in the face of a global debt crisis

The south Asian country is the first to buckle under economic pressures compounded by Russia’s war on Ukraine, but it won’t be the last

The Guardian - UK

Ukraine latest: Russia's second phase aims for full control of Ukraine's south and corridor to Moldova, commander says

A deputy commander says Russia plans to take full control of Donbas and southern Ukraine, improving access to Moldova and a pro-Russian breakaway region Kyiv fears could be used to launch fresh attacks.

ABC News

Russia-Ukraine latest updates: UN chief to meet Putin in Moscow

Ukraine news from April 22: Guterres will meet Russian President Putin on Tuesday to press for fighting to stop.

Al Jazeera

World Bank estimates Ukraine physical damage at roughly $60 billion so far

Physical damage to Ukraine's buildings and infrastructure from Russia's invasion has reached roughly $60 billion and will rise further as the war continues, World Bank President David Malpass said on Thursday.

Reuters

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The Guardian - UK

Elon Musk secures $46.5bn as he prepares hostile bid for Twitter – as it happened

Tesla boss could take his takeover offer directly to shareholders, bypassing the Twitter board, as World Bank chief warns of ‘human catastrophe’ from food crisis

The Independent UK

World facing ‘human catastrophe’ food crisis from Russia’s invasion of Ukraine, says World Bank

Historic rise in the food prices could lead hundreds of millions people across the world into poverty

The Independent UK

IMF, World Bank chiefs warn of debt squeeze in poor nations

The heads of the International Monetary Fund and the World Bank are warning that rising interest rates are squeezing the world’s poorest countries as they struggle with the coronavirus and soaring food prices

The Guardian - UK

IMF head warns rising food and fuel prices strain family budgets ‘to breaking point’ – as it happened

IMF managing director Kristalina Georgieva says ‘double crisis’ from Ukraine war and Covid is ‘a massive setback for the global recovery,’ as the fund says it’s open to emergency financing for nations facing food insecurity

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The Guardian - UK

World Bank plans $170bn financing to ease ‘multiple crises’

President ‘deeply concerned about developing countries’ amid Russia’s war in Ukraine, Covid and inflation

Reuters

World Bank to discuss 'next-phase' financing for Ukraine, Malpass says

More countries are expected to announce contributions to help war-torn Ukraine maintain its government through the World Bank's multi-donor trust fund and parallel funds this week, World Bank President David Malpass said on Monday.

Al Jazeera

Russia-Ukraine latest updates: Zelenskyy calls for more arms

Ukraine news from April 13: President warns of ‘endless bloodbath’ unless forces are provided with more heavy weapons.

The Guardian - UK

World Bank planning to give support worth $1.5bn to Ukraine

Funds will help to pay hospital workers and pensions, and continue social programmes for the vulnerable

Reuters

World Bank to send Ukraine $1.5 billion as food, energy prices spike

The World Bank is preparing a $1.5 billion support package for war-torn Ukraine and plans to aid developing countries struggling to keep up with surging food and energy prices, World Bank President David Malpass said on Tuesday.

Reuters

World Bank's Malpass warns against hoarding of food or gasoline

World Bank President David Malpass on Monday warned people and businesses against hoarding food and gasoline despite the surge in prices sparked by Russia's invasion of Ukraine and massive sanctions imposed on Moscow.

Reuters

World Bank approves $200 million in additional funding for Ukraine

The World Bank on Monday announced it was making available nearly $200 million in additional and reprogrammed financing to bolster Ukraine’s social services for vulnerable people, on top of $723 million approved last week.

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