Latest World Bank News

Trump introduces World Bank critic David Malpass to lead it

Feb. 6, 2019 9:29 PM EST

WASHINGTON (AP) — President Donald Trump on Wednesday introduced David Malpass, a Treasury official he has nominated to lead the World Bank, as the "right person to take on this incredibly important job." Malpass, who is now Trump's undersecretary for international affairs at the Treasury Department, has...

Trump introduces World Bank critic David Malpass to lead it

Feb. 6, 2019 3:38 PM EST

WASHINGTON (AP) — President Donald Trump on Wednesday introduced David Malpass, a Treasury official he has nominated to lead the World Bank, as the "right person to take on this incredibly important job." Malpass, who is now Trump's undersecretary for international affairs at the Treasury Department, has...

Trump to tap David Malpass, critic of World Bank, to lead it

Feb. 5, 2019 1:40 PM EST

WASHINGTON (AP) — The World Bank may be poised for a shake-up with President Donald Trump planning to nominate David Malpass, who has been a critic of the bank, to lead the institution focused on global poverty. Malpass' selection was confirmed by a senior administration official who spoke on condition of...

AP source: Trump to tap critic of agency to lead World Bank

Feb. 5, 2019 11:32 AM EST

WASHINGTON (AP) — President Donald Trump plans to nominate David Malpass, a Trump administration critic of the World Bank, to lead the institution. That is according to a senior administration official who spoke on condition of anonymity because the official wasn't authorized to comment publicly on...

Discord and controversy in Davos even with Trump absent

Jan. 25, 2019 11:23 AM EST

DAVOS, Switzerland (AP) — While domestic woes sidelined major figures like U.S. President Donald Trump, this year's gathering of the global elites in the Swiss ski resort of Davos showcased divisions on pressing issues like trade and the environment. In the end, a spunky 16-year-old Swedish climate...

Ivanka Trump to work on World Bank president search

Jan. 15, 2019 5:41 PM EST

WASHINGTON (AP) — The White House says Ivanka Trump will take part in the nomination process for a new head of the World Bank. The senior adviser was asked to participate by Treasury Secretary Steven Mnuchin because she has worked with World Bank leaders on a variety of projects. The White House said she...

World Bank cuts forecast for world economic growth in 2019

Jan. 8, 2019 4:39 PM EST

WASHINGTON (AP) — The World Bank is downgrading its outlook for the global economy this year, citing rising trade tension, weakening manufacturing activity and growing financial stress in emerging-market countries. In a report titled "Darkening Skies," the anti-poverty agency said Tuesday that it expects...

World Bank President Jim Yong Kim announces his departure

Jan. 7, 2019 2:57 PM EST

WASHINGTON (AP) — Jim Yong Kim, the president of the World Bank, announced Monday he is resigning at the end of January. Kim's unexpected departure three years before his term was set to expire is likely to set off a fierce battle between the Trump administration and other countries who have complained...

A look at Gabon, where government foiled an attempted coup

Jan. 7, 2019 12:32 PM EST

DAKAR, Senegal (AP) — A look at Gabon, the Central West African country where the government has retained power after putting down an attempted coup on Monday. LARGE OIL PRODUCER: Gabon is the third largest oil producer in sub-Saharan Africa, behind Nigeria and Angola. More than 90 percent of Gabon's oil...

World Bank President Jim Yong Kim announces he is stepping down at the end of January

Jan. 7, 2019 11:50 AM EST
WASHINGTON (AP) — World Bank President Jim Yong Kim announces he is stepping down at the end of January.