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The Latest Breaking News from David Malpass

David Malpass will step down as World Bank head

Malpass did not explain his reason for stepping down — but his exit comes months after a climate change-related controversy.

Axios

World Bank chief David Malpass to step down

Washington (AFP) - World Bank chief David Malpass announced Wednesday he would step down by the end of June from his position heading the development lender.

AFP

The U.S. might skate past a recession, but the rest of the world may not be as lucky

A debt crisis is combining with other factors to threaten a prolonged economic decline in the developing world.

Fortune

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World Bank warns economic slowdown will 'hit developing countries hard'

Another economic forecast has painted a grim picture for global growth, shining a spotlight on the impact on developing economies. The World Bank's Global Economic Prospects report cuts forecasts for 95 percent of advanced economies and nearly 70 percent of emerging market and developing economies. David Malpass, World Bank Group…

France 24

World Bank: Recession a Looming Threat for Global Economy

The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies — the United States, Europe and China — the World Bank warned on Tuesday. In an annual report, the World Bank, which lends money to poorer countries for…

Asharq Al-Awsat

IMF chief Georgieva cites 'fruitful exchange' with China on debt issues

International Monetary Fund chief Kristlina Georgieva said she had a "fruitful exchange" with her Chinese counterparts this week on her repeated calls for accelerating debt treatments for countries like Zambia and Sri Lanka.

Reuters

World’s poorest countries’ debt interest payments rise 35%, report says

Report’s author, the World Bank, states concern over poor countries’ increasing spending on debt

The Guardian - UK

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Climate-focused reform of World Bank could be done in a year, says Al Gore

Former US vice-president says bank should refocus its spending and end its role in ‘fossil fuel colonialism’

The Guardian - UK

4 signs of progress at the UN climate change summit

Something significant is happening in the desert in Egypt as countries meet at COP27, the United Nations summit on climate change.

The Conversation

G20 ministers launch billion-dollar pandemic fund

Nusa Dua (Indonesia) (AFP) - G20 health and finance ministers launched a $1.4-billion fund Sunday to tackle the next global pandemic ahead of the bloc's leaders gathering for a summit on the Indonesian resort island of Bali but the host's president said it was not enough.

AFP

World Bank tells rich countries, give us more cash for climate

The World Bank is ready to step up financing of action to tackle climate change in the world's poorest countries, but needs fresh funds from wealthy donor countries to do so, its managing director of operations told Reuters.

Reuters

Finance a COP sticking point

The third day of the COP summit in Egypt saw signs of movement on climate finance and the resurrection of a controversy about the views of the World Bank president.

Newsroom.co.nz

Money talks: why climate finance at Cop27 is key to beating global heating

Funding urgently needed to cope with climate disasters – and to prevent distrust crashing UN negotiations

The Guardian - UK

Who’s who at Cop27: the leaders who hold the world’s future in their hands

A look at who will – and who may not – be at the Sharm el-Sheikh climate summit this month

The Guardian - UK

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Salon

World Bank breaks sustainability vow

A new report alleges the World Bank has failed on its promise to align more closely with the Paris agreement

Reuters

Ukraine's Marchenko to chair IMF, World Bank governing boards in 2023

The shareholders of the International Monetary Fund and World Bank on Friday selected Ukrainian Finance Minister Serhiy Marchenko as the next rotating chair of the boards of governors of both institutions in 2023.

The Guardian - UK

UK joins calls for World Bank reform to focus funding on climate crisis

Alok Sharma’s intervention puts pressure on Trump-appointed Bank chief who faces calls to resign

Asharq Al-Awsat

IMF Sees Middle East Growth at 5%

The Middle East is projected to grow at five percent this year, up from 4.1 percent in 2021.

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Reuters

Protesters outside IMF, World Bank meeting venues demand urgent climate action

Dozens of protesters demonstrated outside the annual meetings of the International Monetary Fund and the World Bank in Washington D.C. on Thursday, expressing opposition to funding of fossil fuels and demanding urgent action to tackle climate change.

Reuters

World Bank preparing to disburse another $530 million to Ukraine-Malpass

World Bank President David Malpass said on Thursday that the lender is preparing to disburse another $530 million to Ukraine by the end of October, financing enabled by guarantees from Britain and Denmark that brings total World Bank disbursements to the war-torn country to about $11 billion this year.

Reuters

World Bank defends climate record in meeting with NGOs

World Bank President David Malpass defended the institution's commitment to tackling climate change on Tuesday, telling civil society groups that have criticized his leadership on the issue that the bank is focused on global warming.

Axios

Larry Summers wants to spend trillions on climate

The former Treasury secretary is looking for the World Bank to increase its lending

Asharq Al-Awsat

World Bank's Malpass, IMF's Georgieva See Rising Risks of Global Recession

World Bank President David Malpass and International Monetary Fund Managing Director Kristalina Georgieva warned on Monday of a growing risk of global recession and said inflation remained a continuing problem after Russia's invasion of Ukraine. "There's a risk and real danger of a world recession next year," Malpass said in…

Reuters

World Bank chief says will keep 'intense' focus on addressing climate change

World Bank President David Malpass said on Friday that he was keeping an "intense" focus on the bank's efforts to address climate change and was embracing the U.S. Treasury's call to dramatically boost lending capacity to address this and other global problems.

The Hindu

India can lead G20 on education, climate and debt sustainability: World Bank President

World Bank President David Malpass points to India’s involvement in restructuring debts in Sri Lanka and it being a major creditor to African nations; calls the country a leader in education

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