The Latest Breaking News from World Bank

This week’s annual meetings of the World Bank could have important implications for the climate crisis and could help shift the trajectory of global warming. Multilateral development banks can make or break the transition to renewable energy, and governments are their shareholders. It’s time for those governments to step up…

Chancellor leaves IMF meetings early but trade minister Greg Hands downplays significance

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.

As the five economies in mainland Southeast Asia re-emerge from the Covid-19 pandemic, their prospects for recovery and return to growth and development appear challenged, characterised by deteriorating balance of payments, fiscal weaknesses, currency depreciations, and rising inflation amidst global monetary tightening and recession risks.

Washington (AFP) - The G20 closed talks in Washington on Thursday without issuing a joint communique, as a growing US-Saudi feud created new tensions in a group already divided over Russia's invasion of Ukraine.

Kristalina Georgieva told UK’s finance minister and central bank chief that their policies should not be contradictory.

Washington (AFP) - The G20 held talks in Washington on Thursday, but Russia's presence in the club made any consensus unlikely despite the multiple crises facing the world.

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.

Eclipsed by rich countries’ own problems, a crunch a decade in the making is coming to a head

Washington (AFP) - A divided G20 holds talks on Thursday under the shadow of multiple crises, from Russia's war in Ukraine to a global economic slowdown, on top of soaring inflation and climate change.

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.