Latest World Bank News

IMF policy panel endorses $650 billion increase in resources

Apr. 08, 2021 15:46 PM EDT

WASHINGTON (AP) — The International Monetary Fund on Thursday authorized a $650 billion expansion of the 190-nation lending institution's resources with the aim of providing more support for vulnerable countries as they battle the coronavirus pandemic. IMF Managing...

Cash-strapped Sudan clears overdue payments to World Bank

Mar. 26, 2021 14:11 PM EDT

CAIRO (AP) — The Sudanese government said Friday it cleared all of its overdue payments to the World Bank, a move that gives the highly-indebted country access to new types of international financing for the first time in decades. This development allows Sudan to resume...

Medical oxygen scarce in Africa, Latin America amid virus

Feb. 26, 2021 03:23 AM EST

DAKAR, Senegal (AP) — A crisis over the supply of medical oxygen for coronavirus patients has struck nations in Africa and Latin America, where warnings went unheeded at the start of the pandemic and doctors say the shortage has led to unnecessary deaths. It takes about...

China celebrates official end of extreme poverty, lauds Xi

Feb. 25, 2021 07:57 AM EST

BEIJING (AP) — The ruling Communist Party is celebrating the official end of extreme poverty in China with a propaganda campaign that praises President Xi Jinping’s role, part of efforts to cement his image as a history-making leader who is reclaiming his country’s rightful place as a...

World Bank threatens to suspend vaccine funding to Lebanon

Feb. 23, 2021 13:20 PM EST

BEIRUT (AP) — The World Bank threatened Tuesday to suspend financing for coronavirus vaccines in Lebanon as it investigated suspected favoritism amid accusations that lawmakers were inoculated in parliament without prior approval. A top Lebanese official supervising the...