The World Bank published a study on Sunday that found 26 of the world’s poorest nations — including Afghanistan, Yemen, Ethiopia, and North Korea — are “in deeper debt than at any other time since 2006.”
Russian Finance Minister Anton Siluanov said on Thursday that the BRICS economic bloc, led by China and Russia, is working to create its own international payment system because the existing Western system is too politicized, and too vulnerable to pressure from the United States.
The World Bank has halted all paid advertising on Elon Musk’s X after CBS News accused the social media platform of promoting ads under racist content.
“Abundant labor coming across the border” is reducing the wages paid to American employees, said Kristalina Georgieva, managing director of the International Monetary Fund.
The World Bank warned the global economy is moving toward its worst half-decade of growth in 30 years while also predicting growth in 2025.
Uganda’s Finance Ministry said on Monday that it plans to borrow $150 million from the Export-Import Bank of China (ExIm) to develop the country’s Internet infrastructure.
Three senior South African government officials told Reuters on Thursday that South Africa will miss its climate change targets under the Paris Agreement because shutting down the country’s eight coal-fired power plants would cause a massive energy crisis.
The mystery surrounding the disappearance of China Evergrande founder Hui Ka Yan deepened on Monday as another billionaire, Skyworth founder Wong Hongsheng, uncorked a WeChat video rant that essentially accused Hui of treason for trying to shelter his assets overseas.
Ugandan President Yoweri Museveni defiantly stood by his country’s harsh new law against homosexuality on Wednesday after the World Bank suspended new loans to Uganda. Museveni accused the World Bank of using financial pressure to force Ugandans to abandon their values.
The World Bank is loaning Ukraine $1.5 billion for the country’s reconstruction and recovery during the Russian invasion.
During an interview aired on Friday’s broadcast of NPR’s “Morning Edition,” Ajay Banga, President Joe Biden’s nominee for World Bank President, argued that the U.S. and World Bank shouldn’t view China as a competitor in the developing world, “we need
Ukrainian President Volodymyr Zelensky told the heads of the World Bank, International Monetary Fund (IMF), and other finance leaders on Wednesday that his country needs $14.1 billion dollars immediately to begin infrastructure repair, urging them to take some of the money from frozen Russian assets.
The United States Chamber of Commerce is applauding President Joe Biden’s nominee to lead the World Bank, former Mastercard CEO Ajay Banga.
President Joe Biden has nominated former Mastercard CEO Ajay Banga to lead the World Bank — the first time a credit card executive has been chosen for the spot. The nomination comes as Biden pitches himself as a defender of American consumers and an enemy of the banking industry.
Tata Group, India’s largest multinational conglomerate, is reportedly in talks with Taiwan’s Wistron Corporation to purchase the latter’s $600 million iPhone manufacturing plant in Karnataka, India.
The United Nations Population Fund (UNFPA) released a report with great fanfare on Tuesday that estimated the world’s population has passed 8 billion, with most of the growth occurring in low-income regions such as sub-Saharan Africa.
Inflation, strains on food and energy supplies, war in the Ukraine, rising jobless numbers alongside risks of a global recession: these are just a few of the factors making up a “new normal” cited by International Monetary Fund (IMF) Director Kristalina Georgieva on Thursday as darkening the outlook for the world’s economy.
They are still pursuing stealth regulation of the global economy through financial institutions.
No deviation from the leftist climate orthodoxy will be tolerated.
The European Central Bank predicted the region will not fall into stagflation, following previous claims that inflation would be “temporary”.
Speaking at the second Global Covid Summit, hosted by the Biden administration, World Health Organization (W.H.O.) Director-General Tedros Adhanom Ghebreyesus said that while the supply of coronavirus vaccines has improved, “vaccine hesitancy driven by mis- and disinformation” is keeping vaccination rates too low in much of the world.
The International Monetary Fund (IMF) is projecting 8.2 percent growth for India in the current fiscal year, a substantial upward revision from earlier estimates and well ahead of the 3.6 percent global growth rate.
Nigel Farage has accused the EU of hypocrisy by “funding Putin’s war machine”, as the bloc admitted to spending €35 billion on Russian gas.
Lebanese Deputy Prime Minister Saadeh al-Shami announced on Sunday that “the state has gone bankrupt,” along with its central bank, Banque du Liban.
According to a report published by the Green Finance and Development Center at Fudan University in Shanghai this weekend, the world’s poorest nations will pay China almost $14 billion in 2022 to service their debts.
The United Nations Security Council voted Thursday to expand support and financial aid in Afghanistan – despite it being controlled by the hardline Islamist Taliban terrorist group.
The World Bank on Tuesday approved a request by the Afghanistan Reconstruction Trust Fund (ARTF) to release more than $1 billion in aid to Afghanistan, India’s WION news site reported Wednesday.
As the world was buffeted by a coronavirus tsunami leaving forced lockdowns, supply-chain problems, economic upheaval, and poverty in its wake, global financial elites “have had a terrific pandemic” according to a report released Monday.
The Afghan news agency Khaama Press, citing the BBC, reported on Tuesday that the administration of President Joe Biden may soon unfreeze Afghan government assets, allowing the Taliban to access them, in the name of helping the impoverished people of the country.
A spokesman for the “finance ministry” of the Taliban told Reuters in remarks published Friday that the terrorist group needs “fresh funds” to maintain its control of the country.
The Committee to Protect Journalists (CPJ), an international press freedom organization, warned on Tuesday that the Sudanese military is arresting journalists while its supporters attack them in the streets.
The leaders of Pakistan and China on Tuesday urged the international community to swiftly send humanitarian and economic aid to Afghanistan, backing a similar U.N. call made just 24-hours earlier.
Treasury Secretary Janet Yellen conceded on Monday that “legitimate issues and concerns” have been raised by a report that found World Bank data was rigged to make China looked better, but added she saw no reason to replace International Monetary Fund (IMF) Managing Director Kristalina Georgieva for her alleged role in the scandal.
Analysts from the China Africa Research Initiative (CARI), a Johns Hopkins University project to study China’s political and economic influence among African nations, said on Tuesday the African nation of Zambia owes $6.6 billion to China – more than double the amount claimed by former President Edgar Lungu.
The World Bank has made the remarkably precise prediction of 216 million internal climate migrants by the year 2050, Nigrizia reported Sunday.
Reports this week indicate the Afghan economy is not faring well under Taliban domination, thanks to a combination of public terror, Taliban mismanagement, and the termination of foreign aid programs that were propping up civil services.
The World Bank announced on Tuesday that it will halt financial aid to Afghanistan following the Taliban’s overthrow of the elected government in Kabul.
Israeli Defense Minister Benny Gantz on Sunday made a rare offer to assist Lebanon as it experiences an unprecedented economic crisis, saying it was his responsibility “as a Jew and as a human” to alleviate suffering.
China celebrated its vast and growing economic power during the 100th birthday celebration for the Chinese Communist Party (CCP) on Thursday, with dictator Xi Jinping humblebragging that his party has achieved its first centenary goal of “building a moderately prosperous society in all respects.”
Boris Johnson has called for the leading economic powers to help vaccinate the entire world against the coronavirus by the end of next year.
