World Bank

The heads of the International Monetary Fund and the World Bank are warning that rising interest rates are squeezing the world’s poorest countries as they struggle with the coronavirus and soaring food prices

“The Executive Board reaffirms its full confidence in the Managing Director’s leadership and ability to continue to effectively carry out her duties,” said IMF.

Kristalina Georgieva, managing director of the IMF, is under pressure after allegations that she told staff at the World Bank to amend rankings to China’s benefit.

Climate change could push more than 200 million people to move within their own countries in the next three decades and create migration hot spots unless urgent action is taken in the coming years to reduce global emissions and bridge the development gap

The World Bank has become the latest international organization to pause aid disbursements to Afghanistan following the Taliban’s takeover.

Esther Duflo, whose antipoverty research won a Nobel Prize, says blaming unemployment benefits for a tight labor market misses the mark on the Covid economy.

Long before Cyclone Idai roared in and tore apart Mozambique’s seaside city of Beira, the mayor dreamed of protecting his people from climate change. It would be a huge challenge. Large parts of the city of 500,000 residents are below sea level on a coastline that experts warn is one of the world’s most vulnerable to global warming’s rising waters....

Maldives strongman President Yameen Abdul Gayoom conceded that he lost Sunday’s election to his challenger, longtime lawmaker Ibrahim Mohamed Solih, in a speech broadcast live on television Monday. Speaking in the Maldives’ native language, Dhivehi, Gayoom congratulated Solih and said, “I know I have to step down now.” The concession and the results were a surprise to Maldives’ opposition, who...

An explosion struck the convoy of the Palestinian prime minister on Tuesday as he was making a rare visit to Gaza, in what his Fatah party called an assassination attempt it blamed on Gaza militants. The blast further complicated what already is a troubled reconciliation process between Gaza’s ruling Hamas militant group and the internationally backed Palestinian Authority in the...

French prosecutors are investigating a possible Greek link after a letter exploded Thursday at the Paris’ office of the International Monetary Fund, lightly injuring one person. The IMF incident came as a Greek anarchist group claimed responsibility for a letter bomb sent to the German Finance Ministry the day before. The Paris prosecutor’s office said Thursday night investigators found “residues...