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The Latest Breaking News from World Bank

War in Ukraine Deepens Debt Woes Across Developing World

The war in Ukraine is making it tougher for many emerging-market governments to make debt payments to foreign creditors, fueling concerns of potential crises that could shake markets and weaken the global economic recovery.

Bangkok Post

Yellen to see Ukraine PM, avoid Russians at global meetings

Treasury Secretary Janet Yellen plans to meet with Ukraine's prime minister during this week’s spring meetings of the International Monetary Fund and World Bank in Washington

The Independent UK

Yellen to push institutions to scale up response to war-fueled food security crisis

U.S. Treasury Secretary Janet Yellen will convene a high-level panel on Tuesday to discuss the global response to an ongoing food security crisis exacerbated by Russia's war against Ukraine, the Treasury Department said in a statement.

Reuters

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U.S. Treasury's Yellen to skip some G20 sessions, encourage pressure on Russia

U.S. Treasury Secretary Janet Yellen plans to skip some sessions of this week's G20 finance meeting in protest at Russia's assault on Ukraine and will urge International Monetary Fund and World Bank members to increase pressure on Moscow, two senior U.S. Treasury officials said on Monday.

Reuters

World Bank plans $170bn financing to ease ‘multiple crises’

President ‘deeply concerned about developing countries’ amid Russia’s war in Ukraine, Covid and inflation

The Guardian - UK

World Bank to discuss 'next-phase' financing for Ukraine, Malpass says

More countries are expected to announce contributions to help war-torn Ukraine maintain its government through the World Bank's multi-donor trust fund and parallel funds this week, World Bank President David Malpass said on Monday.

Reuters

Asian shares sink as China says 1Q growth at 4.8%

Shares are lower in Asia after China reported that its economy expanded at a 4.8% annual pace in the last quarter

The Independent UK

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Russia-Ukraine latest updates: Mariupol fighters hold out

Ukraine news from April 17: Ukrainian fighters are holding out in the last pocket of resistance in Mariupol.

Al Jazeera

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

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

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Reuters

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.

The Hindu

Growth pangs: On World Bank forecast for India

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

The Guardian - UK

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

Asharq Al-Awsat

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…

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The Hindu

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

Al Jazeera

Timeline: Week seven of Russia’s war in Ukraine

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

The Guardian - UK

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

Reuters

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.

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.

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