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World Bank names former Senegal finance minister to head IFC

Washington - The World Bank on Thursday announced that it has selected former Senegal finance minister Makhtar Diop to lead the agency responsible for...

World Bank approves $12 bln for Covid-19 vaccines

Washington - The World Bank said Tuesday that it approved $12 billion for developing countries to finance the purchase and distribution of Covid-19 vaccines,...

World Bank calls for scrapping of OTT tax

The World Bank has called for the scrapping of over-the-top tax-OTT. It argues that the move could boost access to coronavirus prevention messages for...

World Bank confirms Tanzania’s lower-middle income status

Tanzania was on Wednesday July 1 declared a lower middle income country, an achievement that comes five years ahead of the projected schedule. In a...

World Bank approves $500 million to battle locusts in Africa, Middle...

NAIROBI - The World Bank on Thursday approved a $500 million in grants and low-interest loans to help countries in Africa and the Middle...

World faces worst time since Great Depression: IMF’s Georgieva

Washington - The global coronavirus pandemic is causing an economic crisis unlike any in the past century and will require a massive response to ensure...

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...

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...

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...

World Bank slashes 2019 growth as global trade slackens

Washington - The World Bank slashed its global growth forecasts for this year in a report released Tuesday that portrayed a world gripped by...

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