KABUL, Afghanistan (AP) — Afghanistan's new Taliban rulers set up a ministry for the “propagation of virtue and the prevention of vice" in the building that once housed the Women's Affairs Ministry, escorting out World Bank staffers on Saturday as part of the forced move.
WASHINGTON (AP) — Under fire for allegations that it bowed to pressure from China and other governments, the World Bank has dropped a popular report that ranked countries by how welcoming they are to businesses.
House to try suspending cap on borrowing authority next week
WASHINGTON (AP) — House Democrats said Friday they planned to take action next week to suspend the cap on the government’s borrowing authority.
WASHINGTON (AP) — Former officials of the World Bank are under pressure after an investigation found that they pressured staff members of the bank to alter data on global business conditions in order to favor China and some other governments.
DUBAI, United Arab Emirates (AP) — A month after the fall of Kabul, the world is still wrestling with how to help Afghanistan’s impoverished people without propping up their Taliban leaders — a question that grows more urgent by the day.
BARCELONA, Spain (AP) — Climate change could push more than 200 million people to leave their homes in the next three decades and create migration hot spots unless urgent action is taken to reduce global emissions and bridge the development gap, a World Bank report has found.
AMMAN (AP) — Egyptian natural gas should reach Lebanon through Jordan and Syria soon after maintenance of pipelines and the review of a deal interrupted 10-years ago are finalized by early October, ministers of the four countries said Wednesday.
KINSHASA, Congo (AP) — Authorities arrested Congo's former public health minister, Dr. Eteni Longondo, late Friday following allegations he misappropriated more than $1 million in funds allocated by the World Bank to fight the COVID-19 pandemic.
BEIRUT (AP) — Lebanon’s government agreed Monday to pay tens of thousands of poor families cash assistance in U.S. dollars from a World Bank loan as the country’s economic crisis deepens.
The decision comes as Lebanon is expected to end subsidies for fuel by the end of next month, a move that is expected to lead to sharp increases in prices of almost all products.
JERUSALEM (AP) — Rebuilding Gaza after the latest devastating war between Israel and the territory's militant Hamas rulers will cost up to $485 million, the World Bank said.
The report says it will take up to $380 million to repair the physical damage alone, with more required for other recovery needs.
CAIRO (AP) — The World Bank and the International Monetary Fund announced that Sudan has met the initial criteria for over $50 billion in foreign debt relief, another step for the East African nation to rejoin the international community after nearly three decades of isolation.
BEIJING (AP) — Asian stock markets declined for a second day Tuesday after Wall Street hit a new high on tech stock gains and the World Bank raised its forecast of Chinese economic growth.
Market benchmarks in Shanghai, Tokyo and Hong Kong retreated.
BEIJING (AP) — The World Bank raised its forecast of China’s economic growth this year to 8.5% from 8.1% and said Tuesday that a full recovery requires progress in vaccinations against the coronavirus.
BEIRUT (AP) — Lebanese troops deployed in the northern city of Tripoli early Sunday taking positions around major state institutions after a night of protests and riots against worsening living conditions left several protesters and 10 soldiers injured.
BEIRUT (AP) — Lebanon’s economy ministry on Tuesday raised the price of subsidized bread for the fifth time in a year as the country’s multiple crises worsen with no resolution in sight.
The ministry said the reason behind the latest increase — an 18% hike from the last raise in February — was the central bank's ending of sugar subsidies, which in turn adds to the cost of bread production.
WASHINGTON (AP) — The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades.
BEIRUT (AP) — Lebanon’s severe economic and financial crisis is likely to rank as one of the worst the world has seen in more than 150 years, the World Bank said in a report released Tuesday.
The World Bank said that since late 2019, Lebanon has been facing compounded challenges, including its largest peace-time economic and financial crisis, the spread of coronavirus and a massive blast at Beirut’s port last year that is considered as one of the largest non-nuclear explosions in history.
CAIRO (AP) — The World Bank said Monday it has allocated $2 billion to cash-stripped Sudan as the transitional government has struggled to address the county’s decades-long economic woes.
The funds would be used to finance big infrastructure projects along with others to help displaced people over the next 12 months, said Hafez Ghanem, World Bank vice president for eastern and southern Africa.
WASHINGTON (AP) — The World Bank said Monday the world is facing an unprecedented health and economic crisis that has spread with astonishing speed and will result in the largest shock the global economy has witnessed in more than seven decades.
WASHINGTON (AP) — Global finance officials are pledging closer cooperation in efforts to lift the world economy out of its current slowdown, but tensions persist between the United States and other nations over trade and other issues...
BEIRA, Mozambique (AP) — Long before Cyclone Idai roared in and tore apart Mozambique's seaside city of Beira, the mayor dreamed of protecting his people from climate change...
WASHINGTON (AP) — The World Bank may be poised for a shake-up with President Donald Trump planning to nominate David Malpass, who has been a critic of the bank, to lead the institution focused on global poverty...
WASHINGTON (AP) — The World Bank is downgrading its outlook for the global economy this year, citing rising trade tension, weakening manufacturing activity and growing financial stress in emerging-market countries.
BEIRUT (AP) — Lebanon marked 75 years of independence with a military parade Thursday in Beirut, but many anxious Lebanese feel they have little to celebrate: the country's corruption-plagued economy is dangerously close to collapse and political bickering over shares in a new Cabinet is threatening to scuttle pledges worth $11 billion by international donors...
NUSA DUA, Indonesia (AP) — Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions...
WASHINGTON (AP) — The International Monetary Fund and the World Bank repeatedly warned at their meetings this week that intensifying trade tensions could jeopardize a healthy global economic expansion...
HAMBURG, Germany (AP) — President Donald Trump said Saturday the U.S. would contribute $50 million to a new World Bank fund conceived by his daughter that aims to help women entrepreneurs access capital and other support...
WASHINGTON (AP) — The world's major economies are united in their belief that free trade delivers healthy economic growth. But they also agree that more needs to be done for those left behind, and the new Trump administration is letting it be known that it intends to make sure that America's trade deals are fair for U.S.