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The Latest Breaking News from World Bank

World Bank Lowers Growth Forecast for Tunisia

The World Bank has just revised its growth forecasts downwards for Tunisia, dropping it from a previous forecast of 3.5 percent to 3 percent in 2022. The report prepared by the bank, entitled "Forecasting Growth in The Middle East and North Africa in Times of Uncertainty," indicated that Tunisia's economic…

Asharq Al-Awsat

Live Updates | Kyiv mayor reports 'explosions' in capital

Kyiv Mayor Vitali Klitschko has said in an online posting that Kyiv was struck early Saturday in the Darnytskyi district in the eastern part of the capital, saying there were “explosions.”

The Independent UK

Military transport plane reportedly brought down outside Odesa – as it happened

Ukraine president says situation in Mariupol remains ‘extremely severe’ as Moscow tells port city’s remaining defenders to ‘surrender or die’

The Guardian - AU

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Ukraine's prime minister, finance officials to visit Washington next week

Ukrainian Prime Minister Denys Shmyhal and top Ukrainian finance officials will visit Washington next week during the spring meetings of the International Monetary Fund and World Bank, sources familiar with the plans said on Friday.

Reuters

Egyptian Gas Supply to Lebanon Awaits US Guarantees, World Bank Funding

Lebanon’s Energy Minister Walid Fayyad held talks with Egypt’s Minister of Petroleum and Mineral Resources Tarek al-Mulla in Cairo on Thursday. Fayyad said that concluding the deal to import gas from Egypt through Syria requires US guarantees to exempt Lebanon from the Caesar Act sanctions, and requires the necessary World…

Asharq Al-Awsat

3 months after volcanic eruption, Tonga slowly rebuilds

Samantha Moala recalls she was taking a shower at her home in Tonga when she heard what sounded like a gunshot so powerful it hurt her ears

The Independent UK

Russia asks Brazil to help keep sway at IMF, World Bank

Russia has asked Brazil for support in the International Monetary Fund, the World Bank and the G20 group of top economies to help it counter crippling sanctions imposed by the West since it invaded Ukraine, according to a letter seen by Reuters.

Reuters

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Growth pangs: On World Bank forecast for India

Some headline indicators may be shining, but the recovery is still ragged and vulnerable

The Hindu

IMF wags its finger at central banks – but are they listening?

Calls to mitigate the effect of higher interest rates on poorer countries may not be enough when debt cancellation is needed

The Guardian - UK

World Bank: War in Ukraine Raising Risks for MENA

The war in Ukraine has "multiplied risks" for the Middle East and North Africa's poorer countries by raising food and energy prices, the World Bank said Thursday, warning of potential social unrest. In its latest update to its MENA growth forecast, the development lender said inflationary pressures set off by…

Asharq Al-Awsat

Morning Digest | India projected to grow at 8% this fiscal; U.S. State Department flags curbs on free speech, and more

A select list of stories to read before you start your day

The Hindu

Timeline: Week seven of Russia’s war in Ukraine

Ukrainian authorities expect a strong Russian offensive in the eastern Luhansk and Donetsk regions.

Al Jazeera

Poorer countries need urgent food help to stop disorder, say global bodies

WTO and World Bank among those saying richer countries must step in to alleviate effects of rising prices and shortages

The Guardian - UK

IMF, World Bank, WFP and WTO urge coordinated action on food security

The World Bank, International Monetary Fund, UN World Food Program and World Trade Organization on Wednesday called for urgent, coordinated action on food security, and appealed to countries to avoid banning food or fertilizer exports.

Reuters

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Axios

Yellen: Don't help Russia evade sanctions, or else

A speech from the Treasury secretary puts Ukraine war at center of financial diplomacy.

The Hindu

India projected to grow at 8% this fiscal: World Bank

It says growth is expected to be slower than projected in South Asia due to Russia’s war on Ukraine

The Times of India

World Bank cuts India's GDP forecast to 8% for FY23 amid Ukraine crisis

NEW DELHI: The World Bank on Wednesday lowered India's gross domestic product (GDP) forecast for financial year 2022-23, citing impacts of the Russia-Ukraine crisis.

Al Jazeera

Russia-Ukraine latest updates: Zelenskyy calls for more arms

Ukraine news from April 13: President warns of ‘endless bloodbath’ unless forces are provided with more heavy weapons.

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Reuters

World Bank to finance four projects worth $495 million in Senegal

The World Bank said on Tuesday it has signed deals to finance four projects in Senegal worth a total of $495 million to help improve education, electricity, economic development and road access to rural areas.

The Guardian - UK

World Bank planning to give support worth $1.5bn to Ukraine

Funds will help to pay hospital workers and pensions, and continue social programmes for the vulnerable

Reuters

World Bank to send Ukraine $1.5 billion as food, energy prices spike

The World Bank is preparing a $1.5 billion support package for war-torn Ukraine and plans to aid developing countries struggling to keep up with surging food and energy prices, World Bank President David Malpass said on Tuesday.

The Guardian - UK

Quarter of a billion people now face extreme poverty, warns Oxfam

Charity calls for debt cancellations for poorest countries to counter ‘worst collapse into poverty in memory;

The Independent UK

Russia's war to shrink Ukraine economy 45%, World Bank says

The World Bank says Ukraine’s economy will shrink by 45.1% this year because of Russia’s invasion, which has shut down half of the country’s businesses, choked off imports and exports, and damaged a vast amount of critical infrastructure

The Independent UK

World Bank reveals damage to Russian GDP from sanctions and says Ukraine economy to be slashed by half

Russia’s economy has already plunged into ‘deep recession’, World Bank says

Bangkok Post

Challenges for Asean

Over two years after the coronavirus emerged, countries across Asia are slowly beginning to recover. In Southeast Asia, economic growth is projected to pick up to 5.1% this year, from 3.2% in 2021. With 400 million people, or 59% of the population, fully vaccinated, many economies are well on the…

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