The Latest Breaking News from World Bank

Russia takes economic aim at countries aiding Ukraine, where it continues shelling the east

KHARKIV, Ukraine — Moscow on Wednesday turned off the natural-gas spigot to the front-line Eastern European states of Poland and Bulgaria, signaling its willingness to take sharp economic aim at those who aid Ukraine.

Los Angeles Times · Apr 28, 2022

Biden will ask Congress for money to combat global hunger

WASHINGTON — President Joe Biden’s next supplemental spending request for Ukraine will include money to deal with a spiraling global food crisis, the United States’ No. 1 diplomat said in testimony before a Senate panel Wednesday.

Tribune News Service · Apr 28, 2022

Biden will ask Congress for money to combat global hunger

President Joe Biden will ask Congress in his next supplemental funding request for Ukraine to include money to combat global hunger.

Roll Call · Apr 27, 2022

Food, fuel price shocks from Ukraine war to last at least 3 years, World Bank says

Global food and fuel price shocks linked to the Russia-Ukraine war are set to last until at least the end of 2024 and raise the risk of of stagflation, the World Bank said in its latest Commodities Market Outlook report.

Reuters · Apr 26, 2022

Biggest energy shock since 1970s: World Bank

Energy prices have surged since the Russian invasion of Ukraine and, along with other commodities, are likely to remain at "historically high" levels through 2024, endangering economic growth, the World Bank warned Tuesday.

Bangkok Post · Apr 26, 2022

How to design a pandemic fund

With over two-thirds of the African continent still unvaccinated against Covid-19, it is clear that the global pandemic preparedness and response (PPR) regime remains seriously underfunded and lacking in resilient, effective delivery systems. While the World Health Organization's Access to Covid-19 Tools Accelerator (ACT-A) has helped to address the gross…

Bangkok Post · Apr 24, 2022

World Bank and IMF gathering underscores a bleak global outlook

If Russia’s invasion of Ukraine is hurting developed countries, it’s proving a hammer blow for the poor

The Guardian - UK · Apr 24, 2022

Egypt Seeks Increasing Private Sector Participation in Economic Activities

Egypt has a new document for the state ownership policy, a national strategy aimed at maximizing the participation of the private sector in economic activity, announced Finance Minister Mohamed Maait. The Minister indicated that this "reassures" local investors, attracts foreign investments, and enhances the confidence of international institutions. Maait met…

Asharq Al-Awsat · Apr 24, 2022

Saudi Arabia Expects Stronger Growth in Non-Oil Sector

Saudi Minister of Finance Mohammed al-Jadaan said he is expecting stronger-than-expected growth this year in the non-oil sector underpinned by the structural reforms under Vision 2030. Jadaan asserted that the Kingdom remains committed to prudent policies to maintain monetary and financial stability and preserve a solid fiscal position while accelerating…

Asharq Al-Awsat · Apr 24, 2022

The Philippines may vote Bongbong Marcos into office, even though his parents stole billions from the country

On a plane stuffed with diamonds, art, gold and $1 million in cash, Imelda and Ferdinand Marcos fled the Philippines in disgrace. Three decades later, their son is set to become the country's next president.

ABC News · Apr 23, 2022