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The Latest Breaking News from the World Bank

Cop29 jargon buster: key terms for this year’s climate conference in Azerbaijan

Here are some of the phrases that are likely to crop up over the coming days in Baku

The Guardian - UK

Multilateral banks are key to financing the fight against global warming. Here is how they work

International mega banks, funded by taxpayer dollars, are the biggest, fastest-growing source of climate finance for the developing world

The Independent UK

What would a good outcome at Cop29 look like?

Focus will be on climate finance and improving on current goal of providing $100bn a year to poor countries

The Guardian - UK

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Banks, Beaches And Boom Times: Four Facts About Mauritius

Mauritius, one of Africa's richest countries and a stable democracy in a sometimes volatile neighbourhood, is holding a legislative election on Sunday.

International Business Times

US cancels $1.1bn of Somalia’s debt in ‘historic’ financial agreement

Commitment by Mogadishu’s largest single lender is latest in series of deals to forgive ‘unsustainable’ $4.5bn debt

The Guardian - UK

Trump or Harris? Whoever wins will face a shift in power in the global economy

West’s dominance is being challenged, with Brics summit showing emerging markets are unwilling to bow to pressure

The Guardian - UK

World Bank Expects Oil Glut To Cause Commodity Price Slump

Global commodity prices should fall to a five-year low next year thanks to a huge oil glut, the World Bank said Tuesday, pointing to oversupply and to flat demand from China.

International Business Times

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Petrol and food prices will fall thanks to oil glut, says World Bank

Downward trend in oil price from higher production, falling demand in China and clean energy to continue

The Guardian - UK

Sitaraman urges World Bank for affordable & Cheaper Lending

Union Finance Minister Nirmala Sitharaman urges the World Bank to offer more affordable lending with competitive pricing models at its 2024 Annual Meetings. Read further on Dynamite News:

Dynamite News

Degrowth needs to solve its image problem for the sake of the planet

We need to deal with the climate effects of global capitalism the way we deal with inflation – by applying the brakes

The Guardian - UK

World Bank President Focused On Job Creation Ahead Of Annual Meetings

The World Bank will unveil plans to tackle job creation, gender disparities, and food security at next week's gathering of the world's finance ministers and central bankers in Washington, its president said in an interview.

International Business Times

Global Finance Leaders Navigate Uncertainty Amid U.S. Election

Explore the potential impact of the U.S. presidential election on global economic policies and the IMF and World Bank's roles in maintaining economic stabi...

Top News

Wars, debt, climate crisis and Covid have halted anti-poverty fight – World Bank

Setbacks mean UN goal of ending extreme poverty by 2030 is impossible to hit, report finds

The Guardian - UK

Gaza is in ruins after Israel's yearlong offensive. Rebuilding may take decades

The Gaza Strip is in ruins

The Independent UK

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International Business Times

Small And Medium-Sized African Solar Power Companies See Sales Surge

About 600 million Africans don't have electrical service in their homes, with electrification rates in West Africa as low as 8%.

The Independent UK

Solar power companies are growing fast in Africa, where 600 million still lack electricity

Companies that bring solar power to some of the poorest homes in Central and West Africa are said to be among the fastest growing on a continent whose governments have long struggled to address some of the world’s worst infrastructure and the complications of climate change

The Guardian - UK

The Fisherman and the Banker: film charts Indian fishers’ fight with a giant

Documentary charts historic case of a community who sued arm of World Bank over a power plant’s impact on their lives

The Independent UK

Palestinians in West Bank risk crossing Israel's separation barrier to flee failing economy

A year of war in the Gaza Strip has reverberated across the West Bank, where the World Bank warns the economy is at risk of collapse because of Israeli restrictions barring Palestinian laborers from entering the country to work and the biggest wave of violence in decades

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Al Jazeera

Nigerians decry ‘anti-poor’ measures in new protests against the government

The country’s highest food inflation levels in decades have pushed businesses to shutter and forced many to go hungry.

The Guardian - UK

UK climate envoy to keep role at charity whose founders invest in fossil fuels

Supporters rally to Rachel Kyte after criticism of appointment over link to investment firm Quadrature Capital

The Independent UK

Money Gambians send home from Europe is a lifeline for their families but the sacrifices take a toll

The money that many young Gambian men who left as migrants seeking jobs in Europe send back home every month is a lifeline for their families

The National (Scotland)

Labour's new 'climate envoy' linked with £4m party mega-donor hedge fund

LABOUR’S appointee to a plum government job is linked with a Cayman Islands-based hedge fund which donated £4 million to the party, The National…

The Guardian - UK

Labour appoints Rachel Kyte to climate envoy role axed by Sunak

Appointee was a climate chief at the World Bank and will lead UK’s return to high-level environmental diplomacy

The Guardian - UK

Who is Rachel Kyte, the UK’s new climate envoy?

The forthright climate expert has occupied top positions at the World Bank and the UN

Al Jazeera

Is the Indus Waters Treaty the latest India-Pakistan flashpoint?

India wants to renegotiate the 64-year-old pact under which the neighbours split water from six Himalayan rivers.

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