Sri Lanka's government is preparing a policy framework to be presented to the International Monetary Fund, the World Bank and international creditors, as it seeks a way out of its worst economic disaster.
The lender said the South Asian nation needed to adopt structural reforms that focus on economic stabilisation and tackle the root causes of its crisis.
The bank's President David Malpass says that the Ukraine conflict, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth.
Growing regional ties and cooperation are leading rapid economic recovery for Algeria and Türkiye, despite nearly two years of pandemic disruption and market volatility.
Russia's offensive against Ukraine and international economic sanctions on Moscow have disrupted supplies of wheat and other food supplies from both countries, especially in developing nations.
A boat carrying at least 60 people capsized off the coast of the Lebanese city of Tripoli with at least 1 child killed, 45 others rescued reportedly.
Ukrainian President Volodymyr Zelenskyy has outlined far bigger costs and financing needs, saying his country needs $7 billion per month to make up for economic losses caused by Russia's assault.
Routine vaccination in Lebanon has dropped by 31 percent, leaving a vast number of children vulnerable to disease, according to a new UN report.
The government hopes the assistance programme will help top up its reserves and attract bridge financing to pay for essential imports of basic goods amid a devastating financial crisis.
Ukrainian authorities say bodies of over 900 civilians have been discovered around the capital Kiev following Russia's withdrawal from the region as the conflict enters its 52nd day.
Per-capita income in Afghanistan likely fell by a third in the final months of 2021, World Bank warns and predicts per-capita GDP to drop by 30% by 2022 end.
Countries around the world are reducing their dependence on Beijing, World Bank chief David Malpass says, adding China needs to be part of a value system shared by other countries.
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