The Latest Breaking News from World Bank

‘I’m not a scientist,’ David Malpass told an audience earlier this week when asked directly if burning fossil fuels was causing climate crisis

Under pressure to resign for declining to say whether he accepts the scientific consensus on global warming, World Bank President David Malpass said on Thursday it was clear greenhouse emissions are causing climate change and defended his record as bank chief.

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’

Washington (AFP) - The "enormous scale" of Chinese lending to developing nations makes it critical Beijing do more to participate in restructurings to avoid a new international debt crisis, a senior US Treasury official said Tuesday.

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.