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The Latest Breaking News from the World Bank

Ukraine’s Zelenskyy asks global leaders to seize Russian assets

Ukrainian President Volodymyr Zelenskyy told a gathering of global finance leaders in Washington that his country needed $14.1 billion immediately for critical reconstruction needs and pleaded with officials to use frozen Russian assets to help pay the cost.

Tribune News Service

The Guardian view on the world economy: another bleak era beckons

Editorial: The 2010s were a wasted decade for economies and the environment. The 20s have all the makings of a second

The Guardian - UK

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

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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

First look: Yellen's cautious optimism on the economy

The Treasury secretary's glass-half-full outlook isn't shared by IMF chief.

Axios

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

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World Bank, IMF spring meetings get underway in complex economic environment

Washington (AFP) - The World Bank and International Monetary Fund's spring meetings kick off this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability.

AFP

World Bank, IMF spring meetings to get underway in complex economic environment

Washington (AFP) - The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability.

AFP

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

World Bank could lend $50bn more over decade with reform: Yellen

Washington (AFP) - 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.

AFP

US welcomes World Bank reforms, pushes for more ambitious changes

The United States on Monday welcomed plans by the World Bank to boost annual lending by $5 billion to middle-income countries to fight climate change and other global crises over 10 years, but said it was pushing for more ambitious changes soon.

Reuters

Outlook for stable gains

Thailand's economy is estimated to expand by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and pent-up demand following China's reopening, according to the World Bank.

Bangkok Post

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Fortune

The World Bank warns that the U.S.—China rift could hurt Asia's growth and 'the global availability of knowledge'

A prolonged U.S.-China trade war will impact investment in Asia, but the reopening of China will boost regional economies for now, World Bank said.

Dynamite News

Indian-origin Ajay Banga poised to be World Bank chief unopposed

Indian-American business leader Ajay Banga is poised to become the next President of the World Bank. Read further on Dynamite News:

Asharq Al-Awsat

World Bank Says Recoveries in Asian Economies Losing Steam

Developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags, the World Bank said in a report released Friday. The report forecasts that growth in the region including China will pick up pace this year after the world's No.…

Asharq Al-Awsat

Egypt, Europe Agree to Support ‘Food Security’ Efforts

Egypt and the EU have signed a grant agreement of $40 million to support food security challenges. The grant comes within the framework of the European Union's support for the food security in Egypt program, funded by a grant of €100 million.

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Bangkok Post

Thailand records current account surplus of $1.3bn

Thailand recorded a current account surplus of US$1.3 billion in February, after a revised deficit of $2.1 billion in the previous month, the Bank of Thailand (BoT) said on Friday.

The Independent UK

World Bank says recoveries in Asian economies losing steam

The World Bank says developing economies in Asia have mostly regained ground lost during the pandemic but are seeing their recoveries stall as productivity lags

Reuters

Myanmar economy to remain "severely diminished" amid conflict -World Bank

Myanmar's economic growth remains "severely diminished" and GDP is expected to increase just 3% in the fiscal year to September, the World Bank said on Friday, as the country remains embroiled in conflict two years after the military seized power in a coup.

Bangkok Post

World Bank maintains Thailand's 2023 growth outlook at 3.6%

The Thai economy is expected to grow by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and strong pent-up demand following China's reopening, the World Bank said on Friday.

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

AFP

US candidate Ajay Banga sole nominee to lead World Bank

Washington (AFP) - Ajay Banga, the American pick to lead the World Bank, was the only candidate nominated for the position, the bank confirmed Thursday, paving the way for his likely appointment in the coming months.

AFP

US candidate Ajay Banga the sole nominee to lead World Bank

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