The World Bank Group and the International Monetary Fund hold a ministerial roundtable, co-hosted by the government of Ukraine, at 2:00 p.m. ET on April 12 to discuss Ukraine’s medium-term needs, essential recovery and reconstruction projects, and areas of international collaboration. Participants include Ukrainian Prime Minister Denys Shmyhal, IMF Managing Director Kristalina Georgieva, and World Bank…

The World Bank Group and the International Monetary Fund hold a ministerial roundtable, co-hosted by the government of Ukraine, at 2:00 p.m. ET on April 12 to discuss Ukraine’s medium-term needs, essential recovery and reconstruction projects, and areas of international collaboration. Participants include Ukrainian Prime Minister Denys Shmyhal, IMF Managing Director Kristalina Georgieva, and World Bank…

The World Bank Group and the International Monetary Fund hold a ministerial roundtable, co-hosted by the government of Ukraine, at 2:00 p.m. ET on April 12 to discuss Ukraine’s medium-term needs, essential recovery and reconstruction projects, and areas of international collaboration. Participants include Ukrainian Prime Minister Denys Shmyhal, IMF Managing Director Kristalina Georgieva, and World Bank…

Global economic growth will remain below 3 percent in 2023 and for the next five years, according to Kristalina Georgieva, the managing director at the International Monetary Fund (IMF). With elevated price inflation persisting throughout the world economy and to achieve the goal of restoring price stability, Georgieva purported that central banks would need to…

Commentary President Biden’s nomination of Ajay Banga, the former CEO of Mastercard, to succeed David Malpass as World Bank president suggests that the Biden administration is prioritizing climate change over the World Bank’s founding mission of poverty eradication and economic development. This was made clear in the president’s statement singling out climate change as the most urgent…

Commentary A change at the World Bank signals change in both U.S. development policy to climate concerns and, possibly, creates a geostrategic risk for the United States. David Malpass, the head of the World Bank, has announced he would leave the office in June, a year before his term was to expire. Malpass, who had been…

WASHINGTON—World Bank President David Malpass on Wednesday warned that it could take years for global energy production to diversify away from Russia after its invasion of Ukraine, prolonging the risk of stagflation, or a period of low growth and high inflation. In a speech at Stanford University, Malpass said there was an increased likelihood of…

WASHINGTON—The world may be edging toward a global recession as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said on Thursday. The world’s three largest economies—the United States, China, and the euro area—have been slowing sharply, and even a “moderate hit to the global economy over the…

WASHINGTON—The World Bank is reducing its global growth forecast for 2022 by nearly a full percentage point, to 3.2 percent from 4.1 percent, due to the impacts from Russia’s invasion of Ukraine, World Bank President David Malpass said on Monday. Malpass told reporters on a conference call that the World Bank was responding to the…

CAIRO—The debt situation for poor countries could worsen due to volatile commodity prices and higher interest rates, World Bank President David Malpass said on Thursday, urging countries to begin a gradual fiscal consolidation to maintain investor confidence. As of mid-2021, over half of the world’s poorest countries “are in external debt distress, or at risk…