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The Latest Breaking News from World Bank

Yellen faces bipartisan pressure to toughen Russia sanctions

WASHINGTON — Treasury Secretary Janet Yellen was pushed by legislators from both sides of the aisle Wednesday to strengthen moves to cut off financial links with Russia, and was queried on the Biden administration’s readiness to impose sanctions on China in the event it moved aggressively toward Taiwan.

Tribune News Service

Growth outlook darkens

Thailand's economy is expected to grow by 2.9% this year, down from a previous prediction of 3.9%, the World Bank said on Tuesday.

Bangkok Post

Ukraine invasion will lower economic growth in Asia and Pacific, World Bank warns

The expected growth for the region is likely to expand 5.0 per cent

The Independent UK

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Put women at the heart of global economic recovery: that's Indonesia's task at the 2022 G20 summit

Studies have shown that closing the gender gap has positive impacts on the welfare of society. Research by Women World Banking in 2021 illustrates how economic welfare not only depends on income and infrastructure, but also gender equality.

The Conversation

The Extraordinary Challenge of Rebuilding Lebanon’s Healthcare System

For the past two years, the health care system in Lebanon that was once known as The “Hospital of the Middle East,” has become a shadow of its former self. Historically, Lebanon has been the hub of academic medical centers and the leading destination for medical tourism in the Middle…

Asharq Al-Awsat

Ukraine war to slow growth and drive up poverty in Asia, World Bank warns

Conflict adds strain to developing economies in east Asia and Pacific already struggling with Covid and inflation

The Guardian - UK

World Bank cuts Asia’s 2022 growth outlook on Ukraine war

Washington-based lender forecasts five percent growth for the region this year, down from 5.4 percent in October.

Al Jazeera

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World Bank projects war shocks to drag on Asian economies

Russia’s invasion of Ukraine has driven up prices for oil, gas and other commodities, eating into household purchasing power and burdening businesses and governments that already are contending with high debt due to the pandemic

The Hindu

World Bank cuts Thai growth outlook to 2.9% this year

Thailand's economy is expected to grow 2.9% this year, down from a prediction of 3.9% seen in December, the World Bank said on Tuesday.

Bangkok Post

World Bank says war shocks to drag on Asian economies

A report by the World Bank says disruptions to supplies of commodities, financial strains and higher prices are among the shocks from the war in Ukraine that will slow economies in Asia in coming months

The Independent UK

NEWSMAKER-Unheralded Costa Rican economist's unlikely path to presidency

Rodrigo Chaves was an unheralded economist in his native Costa Rica until a series of personal setbacks propelled him into a brief, ill-fated spell in government, then into the race for the presidency, which he won on Sunday.

Reuters

Costa Rican maverick Chaves makes pitch to opposition after presidency win

Economist Rodrigo Chaves extended a hand to the opposition upon winning the Costa Rican presidency on Sunday after a bruising election campaign in which the former World Bank official vowed to break with traditional politics.

Reuters

Ex-finance minister wins runoff to be Costa Rica's president

A former finance minister who surprised many Costa Ricans by making it into the presidential runoff vote has easily won that ballot and is to become the Central American country’s new leader next month

The Independent UK

Economist Chaves projected to win Costa Rica election: preliminary tally

Economist and former World Bank official Rodrigo Chaves was projected to win Costa Rica's presidential election with around 52.9% of the vote, according to the electoral tribunal's preliminary partial tally of Sunday's run-off ballot.

Reuters

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Reuters

Costa Ricans to choose between outsider and former leader in presidential vote

Costa Ricans will choose a new president on Sunday to steer the Central American country through mounting debt woes and social discontent in a run-off between an anti-establishment outsider and former leader.

AFP

From Beirut to Baghdad: Lebanese flee crisis seeking jobs in Iraq

Baghdad (AFP) - Iraq, once synonymous with conflict and chaos, is becoming a land of opportunity for Lebanese job-seekers fleeing a deep economic crisis back home.

Reuters

Rising hunger looms in Sudan, with little aid in sight

Millions more Sudanese are set to go hungry this year as economic turmoil and erratic rains drive up prices and reduce harvests, with a halt to foreign assistance and the war in Ukraine putting food supplies at further risk.

The Independent UK

World Bank allocates $300 million to help Yemen key services

The World Bank has approved an additional $300 million for desperately needed aid for the poorest and most vulnerable households in war-torn Yemen, as well as for helping the country fight the coronavirus pandemic

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AFP

World Bank urges support for poor as food prices soar

Dubai (AFP) - A senior World Bank official called for more support for poor people globally Thursday as the war in Ukraine sends food prices soaring.

The Conversation

Sri Lanka teeters on economic edge, from pandemic-fueled financial crisis and Ukraine war spillovers

An unprecedented economic crisis is unfolding in Sri Lanka. And while the country’s problems have been brewing for years, spillovers from the crisis in Ukraine have sent the island nation over the edge.

Reuters

Combative economist and former president face off in Costa Rica election

Costa Ricans vote on Sunday for a new president in what looks primed to be a close contest between a former leader promising continuity and a pugnacious economist who could pull the country down an anti-establishment path.

AFP

Central Asian migrants eye Russia exit amid economic pain

Dushanbe (Tajikistan) (AFP) - Weeks after returning from Russia amid sanctions triggered by Moscow's invasion of Ukraine, Emomali Safarov has swapped construction tools for a video camera and his old low-paid journalism job in Tajikistan's capital Dushanbe.

The Guardian - UK

Afghanistan aid pledges could fall far short of target, officials fear

Taliban’s increasingly repressive rule could lead to donor backlash at UN pledging conference on Thursday

Reuters

World Bank approves $400 million for Tunisia to help vulnerable households

The World Bank said on Tuesday it approved $400 million for Tunisia to help about 900,000 vulnerable Tunisian households cope with the health and economic impacts of the COVID-19 crisis.

Reuters

World Bank freezes Afghan projects after Taliban bans girls from high school

The World Bank has put four projects in Afghanistan worth $600 million on hold amid concerns over a decision by the country's ruling Islamist leaders to ban girls from returning to public high schools, the bank said.

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