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The Latest Breaking News from the 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

Tanzania's Maasai relocation scheme slammed in new HRW report

A Human Rights Watch report says Tanzania is forcibly evicting tens of thousands of Maasai from their ancestral lands, claiming that government rangers beat some members of the community with impunity.

Radio France Internationale

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

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Trade row won’t hurt US and China’s emissions talks, says US climate chief

John Podesta says negotiations ‘to find a path forward’ continue with urgent discussions planned for Cop29

The Guardian - UK

Former Mozambique finance minister on trial in US over 'tuna bond' scandal that spurred debt crisis

The “tuna bond” scandal that shook Mozambique’s economy is washing into a U.S. court

The Independent UK

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

Pacific islands are being ‘debanked’. What does it mean – and why are Australia, NZ and the US concerned?

The withdrawal of major banks from Pacific islands poses significant socio-economic risks to the region, prompting intervention by Australia, the US and New Zealand.

The Conversation

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Mauritanians vote in presidential election as incumbent Ghazouani expected to secure second term

Mauritanians went to the polls on Saturday to elect their next president, with the incumbent Mohamed Ould Ghazouani widely expected to win after positioning Mauritania as an exception in a region swept by coups and violence.

France 24

Key takeaways from the Bonn climate conference

Main points from the talks in Germany over who should pay for changes needed to cope with impact of climate breakdown

The Guardian - UK

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

World Bank sees global 'soft landing' but warns of sluggish growth for developing nations

The World Bank has upgraded its global growth outlook for this year, expecting it to hold steady at 2.6 percent for the first time in three years. The latest Global Economic Prospects report, however, warns that growth still remains well below the average of the pre-pandemic decade, with the world's…

France 24

Africa’s freeports should boost trade and foreign exchange earnings – but evidence is thin

The concept of a freeport – an area where normal tax and customs rules don’t apply – has existed for centuries. Over time, different terms have emerged. They include export processing zones, free trade zones, special economic zones and industrial free zones. West Africa has 29 free zones, spanning 11…

The Conversation

World Bank Upgrades Global Economic Outlook, Cautions On Trade Barriers

World Bank revises global economic outlook for 2024, highlighting growth projections, concerns about trade barriers, and conflicts impacting economic perfo...

Top News

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

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The Independent UK

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 Guardian - 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 Conversation

Investors have bid against each other to buy Australia’s first green bond. Here’s why that’s a great sign

You might think government debt is bad, but it actually plays a crucial role in modern finance.

The Independent UK

Mexico's president vows to press ahead with changes to Constitution despite market nervousness

Mexico’s outgoing president has pledged to press ahead with judicial reforms despite nervousness among investors, and suggestions from his own handpicked successor that he should wait

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The Conversation

African countries could unlock billions in local and global trade – what’s working and what’s not

Africa’s share of global trade remains disproportionately small, hovering around 2%-3%. Countries on the continent trade more with the rest of the world than they do among themselves. Africa needs to improve its share of trade to boost growth and reduce poverty.

The Conversation

Swiftonomics: what we can learn from Singapore multiplying millions from Taylor Swift’s Eras tour

When Taylor Swift picks a country to “Shake It Off”, it might help the nation’s economy to shake off the impacts of the global economic slowdown.

International Business Times

Kenyan President Warns Debt Clouds Africa Climate Potential

Africa's vast potential in the global fight against climate change is at risk due to the heavy burden of debt and lack of international investment, Kenyan President William Ruto said Thursday.

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

Al Jazeera

Lebanon’s economic crisis endures, as does the EU’s ‘fear’ of refugees

Analysts question whether EU grants to Lebanon have anything to do with getting its economy out of the hole it is in.

The Guardian - UK

Cop29 at a crossroads in Azerbaijan with focus on climate finance

Fossil-fuel dependent country hopes to provide bridge between wealthy global north and poor south at November gathering

The Guardian - UK

‘Just by breathing we are contaminated’: schoolgirls fight to extinguish Ecuador’s gas flares

A group of determined teenagers has taken the government to court for not doing more to protect their community from the noxious byproduct of oil extraction in the northern Amazon

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