Latest World Bank News

IMF-World Bank ends meetings with call to brace for risks

Oct. 13, 2018 4:55 AM EDT

NUSA DUA, Indonesia (AP) — Global financial leaders wrapped up an annual meeting of the International Monetary Fund and World Bank on Saturday by urging countries to brace for potential risks from trade disputes and other tensions. The meetings in Bali, Indonesia, this week were overshadowed by a spate of...

The Latest: IMF's Lagarde planning to attend Saudi meeting

Oct. 13, 2018 3:55 AM EDT

NUSA DUA, Indonesia (AP) — The Latest on the annual meeting of the International Monetary Fund and World Bank in Bali, Indonesia (all times local): 3:55 p.m. The managing director of the International Monetary Fund, Christine Lagarde, has said she still intends to attend an investment conference in Saudi...

UN secretary general visits quake-hit Indonesian city

Oct. 12, 2018 6:05 AM EDT

JAKARTA, Indonesia (AP) — U.N. Secretary-General Antonio Guterres on Friday visited an Indonesian city shattered by an earthquake and tsunami to personally assess the impact of the disasters. Guterres is attending the annual meetings of the International Monetary Fund and World Bank on the island of Bali....

Indonesian president says trade wars too destructive

Oct. 12, 2018 5:18 AM EDT

NUSA DUA, Indonesia (AP) — Indonesian President Joko "Jokowi" Widodo added to a chorus of criticism Friday over trade friction between the U.S. and China, telling financial leaders gathered in Bali, Indonesia, that victory in a trade war would be pointless in a "sinking world." Widodo's comments at the...

The Latest: Southeast Asian leaders affirm free trade goals

Oct. 11, 2018 8:45 AM EDT

NUSA DUA, Indonesia (AP) — The Latest on the IMF-World Bank annual meeting (all times local): 8:40 p.m. Leaders of the Association of Southeast Asian Nations have reaffirmed their commitment to open trading systems that have underpinned their economic growth. The leaders met Thursday in Bali, Indonesia, on...

As markets swoon, finance chiefs urge US, China to cool it

Oct. 11, 2018 8:02 AM EDT

NUSA DUA, Indonesia (AP) — The heads of the World Bank and IMF appealed Thursday to the U.S. and China to cool their dispute over technology policy and play by world trade rules, as tumbling share prices drove home potential perils from a clash between the world's two biggest economies. Global economic...

#BringBackOurGirls activist runs for Nigeria's presidency

Oct. 10, 2018 5:18 AM EDT

LAGOS, Nigeria (AP) — The woman who led the global campaign to free Nigerian schoolgirls kidnapped by Boko Haram extremists is now running for president, saying she is fighting for "the soul" of Africa's most populous nation. Oby Ezekwesili is the most prominent woman to seek the presidency in Nigeria,...

World Bank cites 'deep concern' over Tanzania statistics law

Oct. 3, 2018 12:19 PM EDT

DAR ES SALAAM, Tanzania (AP) — The World Bank says it's "deeply concerned" by new legislation in Tanzania that criminalizes the collection and dissemination of information contradicting official statistics. Lawmakers last month passed amendments to the 2015 Statistics Act despite opposition from critics...

EU approves 1st budget support to Somalia as trust grows

Sep. 27, 2018 9:19 AM EDT

JOHANNESBURG (AP) — The European Union says it has approved 100 million euros ($116 million) in its first-ever budget support to Somalia's government in the latest sign of confidence in a country long shattered by conflict. The EU announcement comes a day after the World Bank said it would provide $80...

World Bank OKs 1st direct financing to Somalia in 27 years

Sep. 26, 2018 9:59 AM EDT

JOHANNESBURG (AP) — The World Bank is providing direct financing to Somalia's government for the first time in 27 years, calling it a "milestone" in the reconstruction of the Horn of Africa nation long shattered by fighting. A statement says the bank's board of directors has approved $80 million in...