Latest World Bank News
World Bank's Banga wants to make gains in tackling the effects of climate change, poverty and war
WASHINGTON (AP) — There was no shortage of stressors to the global economy when Ajay Banga took charge at the World Bank almost a year ago: inflation eating at nations drowning in debt, a once-in-a-generation pandemic, climate disasters and Russia's invasion of Ukraine. Factor in...
Yellen says Iran's actions could cause global 'economic spillovers' and warns of more sanctions
WASHINGTON (AP) — Treasury Secretary Janet Yellen warned Tuesday of potential global economic damage from rising tensions in the Middle East and pledged that the U.S. and its allies won't hesitate to use their sanctions powers to address Iran's "malign and destabilizing activity” in the region....
Ukraine prime minister calls for more investment in war-torn country during Chicago stop of US visit
CHICAGO (AP) — Ukraine Prime Minister Denys Shmyhal kicked off a United States visit Tuesday with multiple stops in Chicago aimed at drumming up investment and business in the war-torn country. He spoke to Chicago-area business leaders before a joint news conference with Penny...
Ugandan court upholds anti-gay law that allows the death penalty in some cases
KAMPALA, Uganda (AP) — Uganda's Constitutional Court on Wednesday upheld an anti-gay law that allows the death penalty for “aggravated homosexuality" despite widespread condemnation from rights groups and others abroad. President Yoweri Museveni signed the bill into law in May...
Former rebels in Central African Republic disarm but face few options. Wagner is one of them
BOUAR, Central African Republic (AP) — The bodies of children killed in the crossfire lay on the ground. It was too much for the rebel. After a year of fighting rivals across Central African Republic, the abuses were mounting and he wanted out. The 42-year-old took advantage of a...
Debt, trade barriers and uncertainty will drag on Asian economies in 2024, World Bank report says
BANGKOK (AP) — Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023, the World Bank said in a report released Monday. Debt, trade barriers and policy uncertainties are dulling the region’s economic...
Ghana's president vows no action on anti-LGBTQ+ bill until Supreme Court rules on a challenge to it
ACCRA, Ghana (AP) — Ghana’s president said Tuesday his government will wait for a Supreme Court ruling before taking action on a bill that would further criminalize members of the LGBTQ+ community in the West African nation. President Nana Akufo-Addo said he sought to reassure...
More than $400 million needed for western Afghanistan to recover from October earthquake, UN says
ISLAMABAD (AP) — More than $400 million is needed for western Afghanistan to recover and rebuild after a devastating earthquake last October that killed around 2,000 people, the United Nations said Wednesday. The magnitude 6.3 quake on Oct. 7, one of the most destructive in the...
Global Citizen plans conference to team young people with world leaders like World Bank's Ajay Banga
NEW YORK (AP) — International advocacy organization Global Citizen is turning to Gen Z and millennial leaders in its fight to reach the United Nations’ Sustainable Development Goals and end extreme poverty. Global Citizen announced Tuesday that it would hold its first...
Climate change is fueling the disappearance of the Aral Sea. It's taking residents' livelihoods, too
MUYNAK, Uzbekistan (AP) — Toxic dust storms, anti-government protests, the fall of the Soviet Union — for generations, none of it has deterred Nafisa Bayniyazova and her family from making a living growing melons, pumpkins and tomatoes on farms around the Aral Sea. Bayniyazova,...
