World Bank

Lebanon’s food security crisis will be the ultimate test for its elites

If the government stops subsidising many essentials, Lebanon will head towards a new crisis. Could this new low be the spark for a revolution that ushers in a new political system?

World Bank: Lebanon economic crisis among world's worst since 1850s

The Arab country's economy will shrink by close to 10 percent in 2021, likely to rank in top 10, possibly top 3, most severe crisis episodes globally since mid-19th century, World Bank says.

Cost of 10 years of devastating war in Syria

We look at the human and financial cost of the war according to the data from UN bodies, international NGOs and Syrian civil society groups.

Sudan declares state of emergency in Red Sea state after tribal violence

The state of emergency comes after the World Bank announced it would allocate $2 billion to Sudan, as the nation struggles to reintegrate into the international community.

Will Covid-19 vaccines inject hope into the global economy?

Vaccine programs have sparked optimism and encouraged a revision of global growth projections for 2021 and onwards.

IMF sees rising prospects of global growth despite uncertainties

IMF Managing Director Kristalina Georgieva said that when the IMF releases its updated economic forecast next week, it will show the global economy growing at a faster pace than the 5.5 percent gain it projected at the start of the year.

Thousands join protests in Lebanon as local currency continues to slide

Thousands of people took to the streets of central Beirut to demand a new independent government to lift Lebanon out of its deepening economic crisis.

Lebanese politicians scurry to get Covid-19 vaccine ahead of citizens

There is mounting controversy in Lebanon that politicians are poaching scarce vaccine supplies for themselves and their families.

What's behind Pakistan's pandemic-defying remittance boom?

The Covid-19 pandemic has ravaged economies globally, but Pakistan has been on the receiving end of a boom that could continue until the end of this year.

Will Pakistan lose New York's Roosevelt Hotel?

The Investor-State Dispute Settlement process has gone against developing countries for far too long.

World Bank warns Lebanon economy to plunge after ‘deliberate’ inaction

Dire projections by the World Bank, including a 19.2 percent drop in gross domestic product this year alone, come as Lebanon suffers its worst economic and financial crisis in its modern history, posing a threat to the country’s stability.

World Bank pumps billions into fossil fuel despite Paris deal

The World Bank had invested more than $12 billion in fossil fuels since 2015, according to a report by Urgewald, an environmental NGO based in Germany.