Janet Yellen, the U.S. Treasury Secretary, will urge the World Bank on Wednesday to implement further reforms this year to enhance its capability to assist developing nations in tackling global issues like climate change. On Wednesday, Janet Yellen is leading discussions with global financial officials to explore methods for the World Bank and other multilateral…
According to two sources with knowledge of the matter, the executive board of the World Bank will conduct a formal interview with Ajay Banga, who has been nominated by the United States to succeed David Malpass as the president of the multilateral development bank. The interview is scheduled to take place in early May. Sources,…
The International Monetary Fund (IMF) stated on Tuesday that the global economy is cooling and facing multiple risks, including the volatile banking sector, high inflation, and rising interest rates. According to the latest World Economic Outlook report from the IMF, total economic output is expected to rise by 2.8% this year, representing a deceleration from…
This year, low-income countries will be hit with their largest bills for foreign debt servicing in 25 years due to higher interest rates. As a result, their spending on crucial areas such as health and education is in danger of being compromised. According to a study that will be published in the coming days by…