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The Latest Breaking News from World Bank

G20 agrees to set up global pandemic preparedness fund

G20 countries have provisionally agreed to set up a global fund for pandemic preparedness, likely to be housed at the World Bank.

Reuters

IMF steering committee skips communique after Russia blocks war language

Russia's refusal to agree to strong language condemning its war in Ukraine prevented the steering committee of the International Monetary Fund from issuing a formal communique during its meeting this week, the chair of the committee said on Thursday.

Reuters

Iraq’s Water Resources ‘Down 50 Percent’

Iraq’s water resources have plunged 50 percent since last year, due to repeated periods of drought, low rainfall and declining river levels, a government official told AFP on Thursday. Oil-rich Iraq, despite its mighty Tigris and Euphrates rivers, is classified as one of the world’s five countries most vulnerable to…

Asharq Al-Awsat

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Yellen says U.S. to give Ukraine another $500 million to keep government running

The United States will give Ukraine another $500 million in to help its government continue critical government operations, doubling the $500 million aid pledge by President Joe Biden in March, U.S. Treasury Secretary Janet Yellen said on Thursday.

Reuters

US to provide $500 million more in financial aid to Ukraine

The United States will provide $500 million more in financial assistance for Ukraine to sustain critical government operations as it fends off the Russia invasion

The Independent UK

Elon Musk secures $46.5bn as he prepares hostile bid for Twitter – as it happened

Tesla boss could take his takeover offer directly to shareholders, bypassing the Twitter board, as World Bank chief warns of ‘human catastrophe’ from food crisis

The Guardian - UK

World facing ‘human catastrophe’ food crisis from Russia’s invasion of Ukraine, says World Bank

Historic rise in the food prices could lead hundreds of millions people across the world into poverty

The Independent UK

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Bumps ahead: On IMF’s India growth forecast

The IMF expects India to grow 8.2% this year, but has flagged multiple risk factors ahead

The Hindu

IMF, World Bank chiefs warn of debt squeeze in poor nations

The heads of the International Monetary Fund and the World Bank are warning that rising interest rates are squeezing the world’s poorest countries as they struggle with the coronavirus and soaring food prices

The Independent UK

Three priorities Africa's newbie on the World Bank board should focus on

President Cyril Ramaphosa recently appointed a senior South African politician, Ayanda Dlodlo, to serve a two-year term as a member of the World Bank’s 25-person Board of executive directors. She will represent a constituency consisting of Angola, Nigeria and South Africa.

The Conversation

World Bank Earmarks Additional Aid For Yemen’s Food Security

The World Bank Group’s Board of Executive Directors endorsed a new two-year Country Engagement Note (CEN) for Yemen aimed at preserving institutions that provide services to the Yemeni people and promoting food security. In a statement, the World Bank Group (WBG) said that its overarching goal was to support the…

Asharq Al-Awsat

Saudi Call for Financing First International Fund to Support Global Tourism Sector

Saudi Arabia called on donor countries to participate in financing the first international fund dedicated to supporting the tourism sector.

Asharq Al-Awsat

Plastic fantastic in reverse

Great news for Mae Nam Chao Phraya river-lovers. Soon they will no longer have to pretend not to notice that the old girl has a bit of a beauty problem. She’s been breaking out in unsightly and polluting plastic and Styrofoam spots for too long. Worse, it all ends up…

Bangkok Post

Philippines has potential for 21GW wind power by 2040: World Bank

MANILA: The Philippines has the potential to install 21 gigawatt of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, according to a study released by the Department of Energy and the World Bank on Wednesday.

Bangkok Post

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The Guardian - UK

IMF head warns rising food and fuel prices strain family budgets ‘to breaking point’ – as it happened

IMF managing director Kristalina Georgieva says ‘double crisis’ from Ukraine war and Covid is ‘a massive setback for the global recovery,’ as the fund says it’s open to emergency financing for nations facing food insecurity

Reuters

World Bank to push ahead with some Afghan projects, maintain pause on education support -sources

The World Bank has resumed work on three projects in Afghanistan focused on health, agriculture and livelihoods, but will maintain a hold on some $150 million for education projects, two sources familiar with the decision said Tuesday.

Asharq Al-Awsat

Lebanon Expects Deal with World Bank on Food Security

Lebanon is close to reaching an agreement with the World Bank in which the international agency would give the crisis-hit country a $150 million loan for food security and to stabilize bread prices for the next six months, the economy minister said Tuesday. Amin Salam told The Associated Press that…

The Independent UK

Lebanon expects deal with World Bank on food security

Lebanon's economy minister says Beirut is close to reaching an agreement with the World Bank in which the international agency would give the crisis-hit country a $150 million loan for food security and to stabilize bread prices

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Evening Standard

IMF slashes UK growth forecasts as inflation slows economy

The International Monetary Fund (IMF) slashed its growth forecasts for Britain today as it warned inflation will hit spending and investment.

The Independent UK

AP-AP News Digest 3 a.m.

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

Global finance meeting focuses on war-driven food insecurity

The growing crisis over food insecurity and skyrocketing food prices is taking center stage as members of the International Monetary Fund and World Bank prepare to meet in Washington

The Times of India

Biggest risk of cryptocurrency could be money laundering, its use for financing terror: Nirmala Sitharaman

WASHINGTON: Amidst the pioneering fintech revolution, the biggest risk of cryptocurrency could be money laundering and its use for financing terror, said Union Minister of Finance Nirmala Sitharaman on Monday (local time).

Bangkok Post

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.

The Independent UK

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

Reuters

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.

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