The Latest Breaking News from 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.

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…

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

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…

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…

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.

Despite Russia's invasion of Ukraine, Moscow's membership in the Group of 20 remains firmly intact

Indonesia's new palm oil export ban will hurt other countries but is necessary to try to bring down the soaring domestic price of cooking oil driven up by Russia's war in Ukraine, Indonesia's finance minister told Reuters on Friday.

The leaders of the International Monetary Fund, World Trade Organization and the World Bank on Friday called for quick work on a new action plan on food security to be prepared by international financial institutions.

Saudi Arabia underlined the importance of international cooperation to support global economic recovery and prevent negative repercussions amid the current international circumstances. Saudi Minister of Finance Mohammad Al-Jadaan revealed the Kingdom’s continuous efforts to support people and countries in need, including its recent provision of urgent support in the amount…

As the Russia-Ukraine war enters its 58th day, we take a look at the main developments.