World Bank: Record debt hurting developing countries

Dec 14, 2023
Low and middle-income nations spent $443.5 billion on principal and interest in 2022, says global lender. Many defaulted in recent years.
In the last three years, countries defaulted on their debt 18 times, according to the World Bank.
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U.S. economy among the few bright spots at World Bank/IMF annual meeting

Oct 10, 2023
The meetings are being held in Morocco, still struggling to recover from a severe earthquake just a month ago. The contrast with the U.S. could not be more stark. The IMF says the U.S. is the only major economy where output has returned to pre-pandemic levels.
In its latest World Economic Outlook, the International Monetary Fund raised its forecast for U.S. economic growth.
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Why is Latin America's economy lagging in its pandemic recovery?

Aug 1, 2023
William Maloney, chief economist for Latin America and the Caribbean at the World Bank, says inflation is only part of the puzzle.
The World Bank's main purpose is to provide assistance to countries with high poverty rates and improve economic growth worldwide.
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Climate change is high on the agenda as the World Bank gets a new president

May 2, 2023
The outgoing World Bank president has been accused of downplaying the risks of fossil fuels.
Former Mastercard CEO Ajay Banga, the U.S. nominee for the World Bank presidency, is expected to bring a new focus on climate change to the institution's programs.
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World Bank convenes amid a shaky global economic backdrop

Chief David Malpass discusses the obstacles facing developing nations, including a scarcity of investment capital and loans from the rich world.
Outgoing World Bank President at an October news conference. He laments that "the investment rates into developing countries has turned downward."
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World Bank predicts sharp economic downturn, hitting developing countries hardest

Jan 12, 2023
The projected slump would put the global economy on a razor’s edge, World Bank researchers say.
A vendor sells cereals in Nairobi, Kenya. A recent World Bank report says that a global recession could hit emerging economies especially hard.
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Global economic growth likely to slow in 2022, World Bank says

Jan 12, 2022
Inequalities between and within countries could widen in 2022, World Bank President David Malpass warns.
"Vaccines are critical because they reduce the hospitalization, because they allow economies to function," says David Malpass, president of the World Bank.
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For public good, not for profit.

World Bank proposes a $12 billion fund for COVID vaccine dispersal to poor and developing countries

Oct 5, 2020
World Bank President David Malpass believes his institution will be well situated to both fund and assist in a global COVID vaccine distribution effort.
"Up to $12 billion is a signal to the pharmaceutical manufacturers that there's going to be a big demand, and that there's financing for it, and that the countries will be looking for a safe vaccine. And so it fills that void that would otherwise be there," says World Bank President David Malpass.
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Debt, inequality and the coronavirus: A conversation with former Fed Chair Janet Yellen and the World Bank's David Malpass

Feb 4, 2020
The panel discussion also touched on "trade unpleasantness," the slowdown in global growth and interest rates.
From left to right, David Malpass, Janet Yellen and Kai Ryssdal at George Washington University on Feb. 4, 2020.
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Emerging markets less ready for recession than before the global financial crisis — report

Nov 20, 2019
A World Bank report shows developing nations to be more exposed to recession now than a decade ago.
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