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The Latest Breaking News from the World Bank

Comoros Votes As Controversial President Seeks Third Term

Comoran voters head to polling stations Sunday to decide whether to hand a third-straight term to President Azali Assoumani, who has voiced confidence in securing re-election over a divided opposition on the Indian Ocean archipelago.

International Business Times

Red Sea crisis could shatter hopes of global economic recovery

World Bank warns of surging energy prices, slower growth and higher inflation as threat rises of disruption to world trade

The Guardian - UK

State govt. to implement Tamil Nadu Coastal Restoration Mission at a cost of ₹1,675 crore over five years

Tamil Nadu Coastal Restoration Mission aims to strengthen coastal biodiversity, sustainable tourism, and reduce plastic waste with World Bank support.

The Hindu

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Cabinet nod for World Bank-aided $285-million KERA project

The Cabinet on Wednesday cleared the Kerala Climate Resilient Agri-Value Chain Modernisation (KERA) Project aimed at modernising the State’s food and nutritional security. The World Bank-aided project has an outlay of $285 million. It places emphasis on the increased participation of small farmers and micro, small and medium enterprises (MSME)…

The Hindu

2024 Global Growth forecast: Slowing Trend Continues

The World Bank predicts global growth to decelerate for the third year in a row in 2024, signaling potential challenges ahead. Stay informed!

Top News

Global economy will slow for a third straight year in 2024, World Bank predicts

Hobbled by high interest rates, persistent inflation, slumping trade and a diminished China, the global economy will slow for a third consecutive year in 2024

The Independent UK

China's capitalist reforms are said to have moved 800 million out of extreme poverty – new data suggests the opposite

It has become an article of faith among many economists that China’s pro-market reforms of the 1980s and 1990s ushered in a sustained reduction in poverty.

The Conversation

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Bhutan To Vote As Economic Strife Hits 'National Happiness'

The picturesque Himalayan kingdom of Bhutan holds general elections on Tuesday with serious economic challenges calling into question its longstanding policy of prioritising "Gross National Happiness" over growth.

International Business Times

The world economy is in crisis again. If we look back 80 years, we might be able to fix it

The historic Bretton Woods summit shaped a golden era of growth. This year’s G20 could be our equivalent, says academic and economist Michael Jacobs

The Guardian - UK

Private Sector Funding Key To Climate Transition, World Bank Chief Says

The World Bank is working to slash how long it takes to get financing projects off the ground as part of a push to speed up and scale up the 79-year-old development lender, its president told AFP on Wednesday.

International Business Times

How many more must suffer in DRC before the west stops enabling Tshisekedi?

Despite its vast mineral wealth, corruption keeps the Congolese poor – and western governments help the regime stay in power

The Guardian - UK

Leading GOPer boosts Uganda anti-gay law

Rep. Tim Walberg co-chairs the National Prayer Breakfast — and urged Uganda to "stand firm" on "death to gays" law

Salon

Nigeria Economic Crisis Dampens Christmas Spirit

Lining up, they receive some rice, dried beans and other basic foodstuffs, whose soaring prices have left millions in Nigeria facing a bleak Christmas.

International Business Times

World Bank projects that Israel-Hamas war could push Lebanon back into recession

The World Bank says the ripple effects of the war in Gaza are likely to knock Lebanon’s fragile economy back into recession

The Independent UK

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Top News

World Bank injects 0 million to fuel Pakistan's economic growth

World Bank's financial boost of 0 million to Pakistan's RISE-II operation heralds new opportunities and economic growth, fueling optimism for the nation...

The Hindu

Was the COP28 climate summit a milestone or a mirage? | Explained

COP28 provided a mixed bag of outcomes. The commitment to ramp up renewable energy targets is a significant step forward – whereas issues on L&D metrics, fund management and disbursal, market mechanisms, risky technologies, the room left for continued use of fossil fuels in many sectors, and natural gas as…

Al Jazeera

Philippines’ Marcos faces ‘greenwashing’ claims as climate spending soars

Climate activists say Manila’s massive spending on climate-related initiatives is poorly allocated.

Top News

World Bank Blog: Farewell to Great Inflation Fear?

Dive into a captivating exploration of the 'great inflation scare.' Bless adieu, perhaps, to what the World Bank blog has decoded about global economy infl...

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The Conversation

Five major outcomes from the latest UN climate summit

The latest UN climate summit, COP28, was always going to be controversial. It was held in a state whose economy is heavily dependent on oil and gas – the United Arab Emirates. The summit president, Sultan Al Jaber, remains head of the Abu Dhabi National Oil Company and recently declared…

The Independent UK

China's economy is forecast to slow sharply in 2024, the World Bank says, calling recovery 'fragile'

The World Bank is forecasting that China's economy will slow next year, with annual growth falling to 4.5% from 5.2% this year

Top News

World Bank Trims Thai Growth Forecast to 2.5% for 2021!

Storms brew in Thailand's financial horizon as the World Bank brandishes red flags, slashing growth predictions to a scanty 2.5% this year.

Top News

Developing Nations Service Record 3.5B Public Debts in 2022

Unfurling a global concern, developing nations shelled out a colossal 3.5 billion on public debt service in 2022, a daunting record tracked by World Bank.

The Guardian - UK

World Bank warns record debt levels could put developing countries in crisis

High interest rates siphoning money away from spending on health, education and tackling climate crisis

The Guardian - UK

War has left Gaza economy at almost total standstill, says World Bank

Washington-based development organisation providing $20m for citizens suffering ‘multidimensional poverty’

France 24

How lending-based climate finance is pushing poor countries deeper into debt

After more than a decade of disappointment, the world’s wealthiest countries may have finally fulfilled their 2009 promise to mobilise $100 billion a year to help developing countries face the climate crisis. But the harsh truth is that developing nations are going to have to pay most of that money…

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