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The Latest Breaking News from the World Bank

Cash in Gaza: Palestinians pay a high price in a shattered economy

At a time of surging inflation, high unemployment and dwindling savings, the scarcity of cash has magnified the financial squeeze on families, some of whom have begun to sell their possessions to buy essential goods.

Euronews

Cash is scarce in Gaza. Palestinians are paying a high price to get it

Cash is the lifeblood of the Gaza Strip’s shattered economy, and like all other necessities in this war-torn territory — food, fuel, medicine — it is in extremely short supply

The Independent UK

Concern that Ukraine will be split up casts shadow over reconstruction talks

Leaders meet in Rome amid forecasts that more than a third of rebuild costs could fall to Russia if Ukraine concedes land

The Guardian - UK

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As US abruptly ends support, Liberia faces empty health clinics and unplanned pregnancies

Roseline Phay is a farmer in the West African nation of Liberia

The Independent UK

Modi government called ‘out of touch’ for claiming India is one of world’s most equal nations

World Bank data seized upon by government – but economists say it doesn’t paint the full picture

The Independent UK

Why investing in climate-vulnerable countries makes good business sense

At a coastal port in Chittagong, Bangladesh, something remarkable is underway. With support from a US$850 million (£620 million) investment from the World Bank, engineers are building flood-resistant infrastructure that can survive rising seas and stronger storms. A new 3.7-mile-long barrier will protect people, homes, and trade in one of…

The Conversation

UN chief says aid surge needed to face 'climate chaos, raging conflicts'

UN Secretary-General Antonio Guterres urged the world to "rev up the engine of development" at an aid conference in Spain on Monday at a time when US-led cuts are jeopardising the fight against poverty and climate change.

Radio France Internationale

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UN Conference Seeks Boost For Aid As US Cuts Bite

A UN conference aiming to rally fresh support for development aid begins in Spain on Monday with the sector in crisis as US-led funding cuts jeopardise the fight against poverty.

International Business Times

World Bank warns that 39 fragile states are falling further behind as conflicts grow, get deadlier

The world’s most desperate countries are falling further and further behind, their plight worsened by conflicts that are growing deadlier and more frequent

The Independent UK

Rising poverty in conflict zones ‘causes a billion people to go hungry’

In first assessment since pandemic in 2020, World Bank urges other countries to step up support

The Guardian - UK

Africa’s development banks are being undermined: the continent will pay the price

Ghana and Zambia’s official creditors are pressing them to default on loans to two African multilateral financial institutions: the African Export-Import Bank (Afreximbank) and the Trade and Development Bank (TDB).

The Conversation

World Bank approves $1bn for development projects in Iraq, Syria and Lebanon

The biggest amount went to Iraq, where the World Bank approved $930 million to help improve the country’s railway infrastructure, boost domestic trade and create jobs.

Euronews

India forcibly sterilised 8m men: One village remembers, 50 years later

The imposition of a state of national emergency on June 25, 1975, was India’s closest brush with dictatorship.

Al Jazeera

AIIB elects former anti-corruption official as new president

Zou Jiayi has been elected as the next president of the Asian Infrastructure Investment Bank (AIIB) by the group’s board of governors.

Euronews

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The Independent UK

World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition

South Africa's National Treasury says the World Bank has granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and help it transition toward a low-carbon economy

International Business Times

World Bank And IMF Climate Snub 'Worrying': COP29 Presidency

The hosts of the most recent UN climate talks are worried international lenders are retreating from their commitments to help boost funding for developing countries' response to global warming.

International Business Times

Bolivia Risks Debt Default Without New Funding: President To AFP

Bolivia, battling an economic crisis that has plunged it into social unrest, risks defaulting on its loan payments if it does not obtain new foreign financing, President Luis Arce told AFP on Wednesday.

The Conversation

Nigeria’s economy is growing but rural poverty is rising: 5 key policies to address the divide

The Nigerian economy grew at a robust rate of 3.4% in 2024, the highest it has been since 2019 (except 2021 when the COVID rebound occurred).

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The Independent UK

‘I’ve lost hope of overturning Uganda’s brutal anti-LGBT+ law thanks to Trump’s aid cuts’

IN FOCUS: Without US funding as leverage, one of Uganda’s most prominent LGBT+ activists Steven Kabuye tells Rachel Schraer, there are few ways to push the country towards change

Barchart

Nvidia CEO Jensen Huang Doesn’t Think The U.S. Has as Big of an Advantage in AI as We Think, ‘Huawei Will Have China Covered’

Nvidia CEO warns U.S. tech export bans may backfire, boosting China’s self-reliance and weakening America’s innovation and economy.

inkl

How Solving Real Problems Sparked a Business Journey from Armenia to the Global Market

Aram Minasyan has never viewed entrepreneurship as an abstract pursuit. For him, it has always begun with something specific

Fortune

World Bank warns the global economy is barreling toward its weakest decade in 50 years

The World Bank cut growth forecasts for 70% of global economies.

AAP

Business, union divisions threaten to derail PM summit

The prime minister hopes business groups and unions will unite to address a lagging economy but there are already signs of division before a planned summit.

Barchart

Dollar Posts Modest Gains on US-China Trade Optimism

The dollar index (DXY00 ) Tuesday rose by +0.13%. The dollar recovered from early losses Tuesday and moved higher on signs of progress in the US-China trade talks. On Monday evening, President Trump stated that the US was "doing well with China" and that he was "only getting good reports"...

The Independent UK

The Latest: Hegseth suggests National Guard use for homeland defense will expand under Trump

Defense Secretary Pete Hegseth is fielding sharp questions from members of Congress about his tumultuous start as Pentagon chief, including his sharing of sensitive military details over a Signal chat, in Capitol Hill hearings

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