The Latest Breaking News from World Bank

The World Bank on Monday urged five West African countries to diversify their economies to adapt to climate change, warning they are extremely vulnerable to extreme weather patterns. A report said Burkina Faso, Chad, Mali, Mauritania, and Niger -- all in the arid Sahel region -- are among the world’s…

An agreement to transport Egyptian gas to Lebanon via Syria is currently disrupted by Lebanon’s failure to meet the conditions for obtaining a World Bank loan and Washington’s reluctance to give an official approval confirming that the deal is not affected by the Caesar Act, sources told Asharq Al-Awsat on…

Kenya’s newly elected president, William Ruto, has earned more legal space to borrow for his grandiose economic plan after parliament recently raised the country’s public debt ceiling to KSh10 trillion (US$100 billion). The new administration says the country is broke but Kenya is already living beyond its means and the…

Lebanese caretaker Economy Minister Amin Salam affirmed on Tuesday that the International Monetary Fund (IMF) delegation visiting Beirut this week carries a very clear message stressing an urgency that Lebanon approves and passes reform laws. “The IMF carries a very clear message, which is the urgency in approving these laws;…

China has pledged to make its Belt and Road initiative greener, but critics say environmental guidelines ‘nonexistent’

The Fed’s continued monetary policy tightening and consequent recession fears are expected to keep the stock market under pressure in the upcoming months. However, bullish traders could keep paying with fundamentally strong stocks The Coca-Cola Company (KO), AbbVie (ABBV), and Merck & Co. (MRK). Read more….

Ukraine will push for unprecedented and bespoke International Monetary Fund and World Bank packages worth tens of billions of dollars in the coming weeks to shore up its war-ravaged finances, the country's top debt management chief told Reuters.

A top adviser to U.S. Treasury Secretary Janet Yellen warned on Tuesday that China's foot-dragging on debt relief could burden dozens of low- and middle-income countries with years of debt servicing problems, lower growth and underinvestment.

A humanitarian act can also be part of smart diplomacy, and India ought to make a distinction between Islamabad and the people of the country

Half a century ago, the Tanzania-Zambia Railway (Tazara) stood out as a crucial symbol of Africa’s struggle for independence. The 1,860km-long railway connects Kapiri Mposhi in Zambia with Dar es Salaam at the Indian Ocean.

The World Bank (WB) said in a report issued Sunday that Palestinian reforms are needed on both the revenue and expenditure sides for a more sustainable fiscal position, stressing that the Palestinian Authority’s (PA) progress in its reform agenda will be met with robust support from international partners. The World…