Sharp, Long-lasting Slowdown to Hit Developing Countries Hard
Global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, according to the World Bank’s latest Global Economic Prospects report.
Algerian Economy: Staying the Course for Transition
Algeria's economy continued to recover in the first half of 2022, led by a return of oil production to pre-pandemic levels and a continued recovery of the service sector along with a more vigorous agricultural activity. The recovery should continue...
India's Supreme Court Upholds 2016 Currency Ban
India's top court on Monday upheld a 2016 move by the government to demonetize 86% of the country's circulating cash, a decision the court said that was taken in consultation with India's central bank.
New World Bank Financing Will Expand and Strengthen Egypt’s Flagship Social Protection Program
The World Bank on December 22 announced US$500 million in financing to expand and strengthen Egypt’s flagship Social Safety Net Program, also known as Takaful and Karama. The new financing marks a third phase of collaboration between the World Bank...
IMF Executive Board Concludes 2022 Article IV Consultation with India
On November 28, The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with India.
The economy has rebounded from the deep pandemic‑related downturn. Real GDP grew by 8.7 percent in FY2021/22,...
Tajikistan to Address Food and Nutrition Insecurity with World Bank Support
The World Bank’s Board of Executive Directors, on December 22, approved additional grant financing of $50 million from the Crisis Response window for the Strengthening Resilience of the Agriculture Sector Project in Tajikistan to support efforts of...
How Ukraine is Managing a War Economy
Russia’s invasion has inflicted terrible human and economic suffering on Ukraine and the country faces a winter of air strikes and rocket attacks against critical infrastructure. Last week the IMF’s management approved Ukraine’s request for Program...
World Bank Approves $311 Million to Increase Grid-Connected Renewable Energy Capacity in West Africa
Existing and prospective electricity customers in Chad, Liberia, Sierra Leone, and Togo will benefit from the new Regional Emergency Solar Power Intervention Project (RESPITE) approved today for a total amount of $311 million in International...
New Financing to Support Cambodia’s Economic Recovery and Long-Term Resilience
Cambodia’s efforts to promote a resilient recovery from recent economic shocks were today bolstered by a $274 million credit from the World Bank for the Cambodia Growth and Resilience Development Policy Operation. The financing approved by the World...
IMF Board discusses Program Monitoring with Board involvement for Ukraine
The Executive Board of the International Monetary Fund discussed a Management-approved PMB for Ukraine on December 19. This 4-month PMB is designed to help Ukraine maintain stability and catalyze donor financing.
