Global growth to slow through 2023, adding to risk of ‘Hard Landing’ in developing economies – World Bank report
Jan. 11, 2022 …Spread of COVID-19 Variants Alongside Inflation, Debt, Inequality Intensifies Uncertainty Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats…
Development: World Bank to spend $93bn on Nigeria, others against Covid-19, Climate
December 15, 2021 The World Bank Wednesday announced a $93 billion replenishment package of the International Development Association (IDA) to help low-income countries respond to the COVID-19 crisis and build…
Amid Record Sovereign Debt, Massive Gaps in Debt-Tracking Systems – World Bank
Nov. 10, 2021 At a time when sovereign debt in the poorest countries has surged to dangerously high levels, global and country-by-country systems for tracking it are proving to be…
Debt distress would be ‘dagger through the heart’ for global recovery if left unchecked – U.N Chief
Oct. 5, 2021 U.N. Secretary-General Antonio Guterres warned on Monday that if left unchecked debt distress in the world’s most vulnerable countries would be “a dagger through the heart of…
External review finds deeper rot in World Bank ‘Doing Business’ rankings
Sept. 21, 2021 Weeks before the World Bank scrapped its flagship Doing Business rankings following a damning independent probe, a group of external advisers recommended an overhaul of the rankings…
COVID-19: World Bank Approves $3bn For Vaccines in 32 Countries
June 15, 2021 The World Bank has approved three billion dollars to cover vaccination in 32 countries around the world, which includes 15 nations in Africa. In a statement made…
Increase debt suspension arrangements to offer low-income, middle-income countries fiscal space – Heads of state
Several heads of state and government, the United Nations and heads of multilateral development finance institutions on Monday called for expansion of the Debt Service Suspension Initiative, under which low-income…
$500m: SERAP Asks World Bank To Publish Documents On Funded Electricity Projects between 1999 and 2020
Socio-Economic Rights and Accountability Project (SERAP) has urged the World Bank President Mr. David Malpass “to exercise the Bank’s prerogative to release archival records and documents relating to spending on…
COVID-19 to Add as Many as 150 Million Extreme Poor by 2021
Global extreme poverty is expected to rise in 2020 for the first time in over 20 years as the disruption of the COVID-19 pandemic compounds the forces of conflict and…
COVID-19: World Bank calls for greater debt relief plans to save poorer nations
World Bank President, David Malpass, said that a more ambitious debt relief plan is needed to save poorer countries from sliding into pandemic-induced “depression”. “This is worse than the financial…