World Bank

FirstUp: JD Vance to visit India with wife Usha Vance and other headlines of the day

US Vice President JD Vance will begin his India visit today, accompanied by his family. He is also scheduled to meet Prime Minister Narendra Modi today. This will be Vance’s first official visit to India and any country in Asia since taking office. Meanwhile, a hearing will take place regarding the criminal trial of ousted South Korean president Yoon Seok Yeol, who is charged with leading an insurrection

What happens if the US pulls support from IMF, World Bank?

The US and its allies established the International Monetary Fund and the World Bank after World War II to promote global economic stability and prevent future conflicts. However, speculation about Washington’s potential withdrawal from global financial institutions has grown, especially after US Treasury Secretary Scott Bessent’s absence from recent G20 meetings

World Bank body chastises Pakistan as it allows army to lead power purchase talks

The World Bank's private finance division has slammed Pakistan's military-led efforts to renegotiate contracts for wind and solar power, in a letter co-signed by seven other international development organisations that have funded projects in the country, according to a report

Can Pakistan really become a $1 tn economy? World Bank sees a 2035 hope but...

Achieving a trillion-dollar economy by 2035 sounds promising, but Pakistan faces significant hurdles in repaying a $20 billion loan, sustaining 7% growth and implementing the crucial reforms needed for long-term prosperity

Sri Lanka’s economy remains vulnerable, says IMF as it approves third review of $2.9 bn bailout

The IMF approved Sri Lanka’s third bailout review, releasing $333 million, while calling for progress on debt restructuring and economic reforms amid signs of recovery

Biden pledges $4 billion to World Bank’s poorest nations fund at G20 summit

The World Bank’s IDA fund, which provides mainly grants and very low-interest loans to the poorest countries, is replenished every three years, and a pledging conference is scheduled for Dec. 6.

World Bank estimates $8.5 billion in damage to Lebanon from Israel-Hezbollah conflict

The World Bank said on Thursday the ongoing conflict between Israel and Hezbollah has caused $8.5 billion in damage and losses to Lebanon, with final figures expected to be significantly higher as the conflict continues

End of an era: Botswana President concedes defeat as Opposition ends 6-decade long party rule

Botswana’s ruling party conceded defeat after nearly six decades in power, with the opposition UDC winning a majority in parliament

'We'll work with whoever wins': UK Chancellor Reeves confident of ties irrespective of US election result

UK finance minister Rachel Reeves has assured that the UK-US relationship will remain strong regardless of the US election outcome

Biden admin wants half of its $20 bn package to Ukraine to be military aid, but there's an obstacle

The US plans $20 billion in aid to Ukraine, funded by interest on frozen Russian assets with $10 billion in military aid pending Congress