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Pandemic threatens child education, health gains: World Bank

Washington - The coronavirus pandemic threatens to erase progress made in the last decade in improving child education and health, particularly in the poorest countries, the World Bank said on Wednesday.

World Bank cancels loan for controversial Lebanon dam

Washington - The World Bank on Friday said it was canceling a loan to fund a dam in Lebanon that environmentalists claimed could destroy a valley rich in biodiversity.

Elevated extreme poverty to persist through 2021: World Bank

Washington - Global economic growth could rebound next year -- but the number of people living in extreme poverty is expected to remain unchanged after a huge surge this year due to the coronavirus pandemic, the World Bank warned Tuesday.

Leaders warn Africa short of funds to fight pandemic

Washington - International financial institutions and African leaders warned on Friday the continent needs tens of billions of dollars in additional money to fight the coronavirus pandemic despite debt freezes and massive pledges of support.

Africa still needs $44 bn to fight pandemic: World Bank and IMF

Washington - The World Bank and IMF said on Friday Africa needs $44 billion more to fight the coronavirus pandemic despite a freeze in debt payments for many countries and massive pledges of support.

Everything on the table to attack virus' economic damage: IMF

Washington - The severe economic crisis ignited by the coronavirus pandemic requires the rapid deployment of every available financial lifeline to help countries survive, IMF chief Kristalina Georgieva said Thursday.

IMF, World Bank call for suspending debt payments by poorest nations

Washington - The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic.

IMF chief calls for all-out offensive to counteract epidemic

Washington - IMF chief Kristalina Georgieva on Wednesday called for an all-out, "no regrets" response to the new coronavirus epidemic which poses a "serious threat" to the global economy."At a time of uncertainty...

Global growth to 'dip below' last year's rate: IMF chief

Washington - The new coronavirus epidemic poses a "serious threat" and will slow growth in the world economy to below the 2.9 percent posted last year, IMF chief Kristalina Georgieva said Wednesday.

World Bank to attack poverty in conflict zones

Washington - The World Bank launched a new effort Thursday to combat extreme poverty by expanding work in countries beset by violence.

World Bank aid 'leakage' may flow to tax havens: study

Washington - World Bank aid payments to the neediest countries appear to trigger money flows to offshore bank accounts, suggesting funds are siphoned off from the nations they are meant to help, according to a study published Tuesday.

World Bank chief economist announces resignation

Washington - World Bank chief economist Pinelopi Koujianou Goldberg on Wednesday announced she will be leaving the institution, according to a letter sent to colleagues and obtained by AFP.

Massive debt wave could crash on developing countries, World Bank warns

Washington - A wave of debt in emerging and developing nations has grown faster and larger than in any period of the last five decades and could end with another crisis, the World Bank warned Thursday.

World Bank scales back Uighur school project in China

Washington - The World Bank announced Monday it was cutting back a vocational education project in China's Xinjiang province, even though an internal investigation did not back up claims the scheme was linked to the mistreatment of minority Muslim Uighurs.

Persistent trade tensions risk worsening poverty: World Bank

Washington - As global trade tensions persist, investments are put on hold and without that cash to boost economic growth, poverty could surge, the World Bank's chief economist warned Tuesday.

World must adapt to 'inevitable' climate change, warns report

Paris - Nations rich and poor must invest now to protect against the effects of climate change or pay an even heavier price later, a global commission warned Tuesday.Spending $1.

World Bank's Georgieva poised to become 2nd female IMF chief

Washington - A top executive at the World Bank, Kristalina Georgieva of Bulgaria, is now officially unopposed in her bid to become only the second woman ever to lead the International Monetary Fund, the fund announced Monday.

World Bank's Georgieva poised to become 2nd female IMF chief

Washington - A top executive at the World Bank, Kristalina Georgieva of Bulgaria, now faces no opposition in her candidacy to lead the International Monetary Fund, the fund announced Monday.

World Bank says 'no indication' China misused loan for Uighur schools

Washington - The World Bank said Thursday it is again reviewing a loan to China to provide vocational education to the Muslim Uighur minority, but has "no indication" the funds were used for anything other than schooling.

World Bank deploys $300 mn to DR Congo to contain Ebola outbreak

Washington - The World Bank announced Wednesday it was deploying another $300 million in crisis aid for DR Congo to help contain the year-old Ebola outbreak.

World Bank deploys $300 mn to DR Congo to contain Ebola outbreak

Washington - The World Bank announced Wednesday it was deploying another $300 million in crisis aid for DR Congo to help contain the Ebola outbreak.

IMF/World Bank: 75 years as the world's financial firefighters

Washington - At the critical moment of a Hollywood movie starring A-lister Sandra Bullock, Bolivia's newly-elected president calls in the International Monetary Fund to bail out the poverty-stricken country, violating a campaign promise.

Africa poses critical challenge for World Bank, IMF

Washington - Global heat maps of extreme poverty show Africa in deep red. And the problem will only accelerate as population on the continent grows in coming decades.

Reforms and transparency needed for Belt and Road success: World Bank

Washington - China's global Belt and Road Initiative could boost economies and reduce poverty rates in dozens of developing countries, but risks environmental damage, debt and corruption if improvements aren't made, the World Bank said Wednesday.

World Bank making women's entrepreneurship a priority

Washington - Abolishing the myriad of obstacles for African women to become entrepreneurs must be a priority on a continent where poverty continues to grow, World Bank CEO Kristalina Georgieva said Tuesday.

Colombia receives $31.5 mn to address Venezuela refugee crisis: World Bank

Washington - Colombia will receive a $31.5 million grant to help deal with the flood of refugees from neighboring Venezuela, the World Bank announced Friday.Colombia has received about a third of 3.

US says countries reviewing aid plan for Venezuela

Washington - US Treasury Secretary Steven Mnuchin said Thursday that a group of countries are discussing plans to provide financial support to Venezuela, amid the country's economic collapse.

IMF, World Bank urge caution with China loans

Washington - Increased lending by China to developing nations is increasingly under the spotlight amid concerns that growing debt burdens and onerous conditions could sow the seeds of a crisis.

IMF awaits decision on Venezuela government recognition

Washington - World governments are working on recognizing a Venezuelan government, a key step before international aid can flow into the crisis-stricken country, IMF chief Christine Lagarde said Thursday.

New World Bank chief says urgent to focus on poverty

Washington - Newly-installed World Bank President David Malpass spent his first day at the global lender Tuesday hammering home the message that the most urgent issue facing the bank is addressing global poverty.
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