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The Latest Breaking News from David Malpass

The Federal Reserve has devolved into a 'giant hedge fund'

One economist has a real problem with the way the Federal Reserve has acted over the past few years.

The Street

IMF Head Backs Reforms To Increase China’s Voting Power

IMF's Georgieva supports giving China more voting power amid global economic changes.

Zenger

Ex-Mastercard CEO Ajay Banga confirmed as World Bank leader

Former Mastercard CEO Ajay Banga, an Indian army officer’s son with decades of corporate experience, has been confirmed to lead the World Bank for a five-year term that starts next month

The Independent UK

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World Bank elects US nominee Ajay Banga president

He replaces Malpass, who was criticised for his stance on climate change and will step down nearly a year early.

Al Jazeera

US pick Ajay Banga confirmed as new World Bank president

Washington (AFP) - The World Bank confirmed Wednesday that Ajay Banga will be its next president, handing him the reins at a pivotal time as it looks to reshape its role to better address climate change.

AFP

World Bank President Praises Saudi Arabia for Helping Evacuate its Staff from Khartoum

World Bank Group President David Malpass expressed on Tuesday his gratitude and appreciation to Custodian of the Two Holy Mosques, King Salman bin Abdulaziz for the Kingdom’s contribution and support in evacuating the World Bank staff from Sudan to Saudi Arabia. ‎In a letter sent to King Salman, he said:…

Asharq Al-Awsat

Nirmala Sitharaman, World Bank chief discuss empowering women leaders

Union Minister Nirmala Sitharaman on Thursday (local time) participated in a panel discussion on 'Empowering Women as Entrepreneurs and Leaders' in Washington DC. Read further on Dynamite News:

Dynamite News

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IMF chief urges world to avoid a 'second Cold War'

Washington (AFP) - Countries must do more to avert the costly consequences of growing global trade fragmentation and help avert a "second Cold War," the International Monetary Fund's managing director said Thursday.

AFP

First Thing: Pentagon leaks linked to young gun enthusiast employee – report

Man known online as ‘OG’ said to have access to classified material and to regard intelligence services as repressive. Plus, why America’s most popular flower ‘never goes out of style’

The Guardian - UK

New India-born World Bank chief: Real change or rebranding?

The incoming president of the World Bank was born in India and had his early success in business there

The Independent UK

World Bank members endorse moves to boost lending by $50bn over decade

Washington (AFP) - World Bank member countries have endorsed measures allowing a $50 billion lending boost over the next decade, its outgoing president David Malpass said Wednesday.

AFP

World Bank staff were told to give special treatment to son of Trump official

Exclusive: Leaked recording raises concerns over governance at development bank, at which David Malpass is now president

The Guardian - UK

UN 'appalled' by video of alleged Ukraine POW beheading

Ukrainian President Volodymyr Zelensky on Wednesday denounced Russian "beasts" after a video surfaced on social media purporting to show the decapitation of a Ukrainian prisoner of war. The grisly footage, which prompted outrage and condemnation from UN and EU officials, came as Washington reaffirmed its confidence in Ukraine's military "capability"…

France 24

UK on track to be worst-performing G7 economy this year, says IMF – as it happened

International Monetary Fund forecasts UK GDP will shrink by 0.3% in 2023, worse than other G7 countries

The Guardian - UK

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Al Jazeera

G20 finance heads face reform calls from Global South

Finance ministers and central bank governors are meeting at the IMF to discuss challenges facing global economy.

AFP

World Bank, IMF spring meetings get underway in complex economic environment

Washington (AFP) - The World Bank and International Monetary Fund's spring meetings kick off this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability.

Reuters

World Bank's Malpass says Russia's detention of WSJ reporter is 'brazen act'

Russia's detention of Wall Street Journal reporter Evan Gershkovich is a "brazen act" and violates the vital freedom of the press, including the safety of journalists, World Bank President David Malpass said on Monday.

AFP

World Bank, IMF spring meetings to get underway in complex economic environment

Washington (AFP) - The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform and fundraising agenda likely to be overshadowed by concerns over high inflation, rising geopolitical tension and financial stability.

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news in one place.

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Asharq Al-Awsat

US Treasury: World Bank Could Lend $50b More Over Decade With Reform

The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, US Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced. Central bankers, finance ministers and participants from more than 180 member countries…

The Guardian - UK

Are there brighter prospects than at the last IMF meetings? Only just

October saw the UK chancellor in the dock. Now the US’s Yellen will face flak over green subsidies and banking security

AFP

World Bank could lend $50bn more over decade with reform: Yellen

Washington (AFP) - The World Bank's ongoing reform could result in a $50 billion lending boost over the next decade, US Treasury Secretary Janet Yellen told AFP ahead of stakeholders' meetings next week where key changes are expected to be announced.

The Independent UK

Biden pick Ajay Banga cleared to take top job at World Bank

The Biden administration’s choice to run the World Bank — former Mastercard CEO Ajay Banga — appears to have a lock on the job

The Guardian - UK

World Bank chief calls for dramatic hike in funding to help developing world

Outgoing boss David Malpass says more money needed to combat overlapping crises of war, pandemics and climate emergency

Axios

Exclusive: Biden's World Bank pick sets ambitious course

Ajay Banga: World Bank should focus on both poverty and climate change.

Fortune

Global economy is skidding towards a 'lost decade,' World Bank warns

The past 30 years of economic growth and development could be reversed this decade if governments don't act.

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