International Organizations World Bank

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  • "The richest oil exporters in the region, Saudi Arabia, Qatar, Kuwait and United Arab Emirates, have large reserves that will enable them to run deficits over the coming years, although not far beyond that," the World Bank said in the report. The report was issued as the World Bank is in talks on financing with some oil producers in other regions, including Azerbaijan,...

  • LIMA/ WASHINGTON, Feb 3- Peru has become the latest commodity exporter to seek financing help from the World Bank amid fiscal and currency pressures brought on by collapsing prices for metals, oil and other raw materials. Peruvian government sources and a World Bank official said on Wednesday that talks were underway for two new credit lines that will bolster...

  • LIMA/ WASHINGTON, Feb 3- Peru is in talks with the World Bank to secure two new credit lines that may be used to help Lima weather fiscal pressures brought on by the collapse of commodity prices, Peruvian government and World Bank sources said on Wednesday. Amounts for the three-year loan facilities could not be disclosed as discussions are continuing and the...

  • LONDON, Feb 2- China's capital has become notorious for its smog but the biggest contributors to local air pollution are industrial furnaces, district heating systems, residential fires and trucks rather than power plants. In 2013, the air over Beijing contained an average of 88 micrograms of PM2.5 per cubic metre, compared with just 14-16 micrograms in the air...

  • LAGOS/ LUANDA, Feb 1- Nigeria and Angola, Africa's two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening currencies and strained public finances. Nigeria has held exploratory talks with the World Bank on borrowing to help fund a record budget in 2016 but has not applied for any emergency loans,...

  • *Nigeria, Angola talk to World Bank about loans. LAGOS/ LUANDA, Feb 1- Nigeria and Angola, Africa's two biggest oil producers, are both in talks with the World Bank about support to help cope with low crude prices, weakening currencies and strained public finances. Angola also held talks with the World Bank between Jan. 25-29 about securing funding support in a deal...

  • Oil producer Azerbaijan in talks for international aid Thursday, 28 Jan 2016 | 6:29 AM ET

    BAKU, Azerbaijan— Representatives from the International Monetary Fund and World Bank arrived in Azerbaijan on Thursday to discuss financial support for the oil producing country's ailing economy. "The World Bank and the IMF are in active dialogue with the government of Azerbaijan, discussing both immediate and longer-term measures in response to the...

  • Jan 27- The International Monetary Fund and World Bank are discussing possible financing aid for oil exporter Azerbaijan to help it cope with mounting currency and budget pressures from a steep drop in crude prices, the institutions said on Wednesday. "The World Bank and the IMF are in active dialogue with the Government of Azerbaijan, discussing both...

  • Jan 27- The International Monetary Fund and World Bank are discussing possible financing assistance for Azerbaijan to help it cope with mounting currency pressures and other fallout from a steep drop in oil prices, the institutions confirmed on Wednesday. The Financial Times reported that IMF and World Bank officials were discussing a possible $4 billion...

  • Correction: IMF and World Bank story from Davos Tuesday, 26 Jan 2016 | 1:41 PM ET

    DAVOS, Switzerland— In an early version of a story sent Jan. 21 from Davos, Switzerland, about the International Monetary Fund, The Associated Press incorrectly indicated that the World Bank's president, Jim Yong Kim, is not a U.S citizen.

  • World Bank slashes 2016 oil price forecast Tuesday, 26 Jan 2016 | 10:00 AM ET

    WASHINGTON, Jan 26- The World Bank has slashed its forecast for crude oil prices by $14 to $37 per barrel for 2016, it said on Tuesday, amid growing supply and weak demand prospects from emerging markets. In its annual Commodity Markets Outlook, the World Bank lowered its price forecast for 37 of 46 commodities, including oil, saying that weak demand from emerging...

  • Relations between Argentina and the United States soured under the South American country's former leader, Cristina Fernandez, who frequently railed against what she called bullying by greedy capitalist powers in her fight against U.S. creditors. Senator Marco Rubio, who has in the past opposed World Bank loans to Argentina over the country's unpaid debt,...

  • BEIJING, Jan 16- Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on Saturday, as Beijing seeks to change the unwritten rules of global development finance. Despite opposition from Washington, U.S. allies including Australia, Britain, German, Italy, the Philippines and...

  • BEIJING, Jan 16- Chinese President Xi Jinping launched a new international development bank seen as a rival to the U.S.-led World Bank at a lavish ceremony on Saturday, as Beijing seeks to change the unwritten rules of global development finance. Despite opposition from Washington, U.S. allies including Australia, Britain, German, Italy, the Philippines and...

  • Pandemics are $60 billion global risk: Study Wednesday, 13 Jan 2016 | 2:07 PM ET
    Red Cross workers carry away a person suspected of dying from Ebola, in the Liberian capital Monrovia, on Oct. 4, 2014.

    Pandemics are a neglected risk to lives and economies that could costs trillions of dollars, says a new report.

  • World Bank warns of fault lines below the surface Thursday, 7 Jan 2016 | 2:00 AM ET
    World Bank warns of fault lines below the surface

    Larry Hatheway, group chief economist at GAM, responds to warnings from the World Bank and discusses how falling oil prices will impact developing nations.

  • MELBOURNE, Jan 7- London copper edged up on Thursday, after news that China aims to build up national copper stockpiles lent a floor to prices, but traders remained jittery over the health of the world's second-biggest economy. *The World Bank on Wednesday cut its global economic growth forecast for 2016, saying the weak performance of major emerging market...

  • World Bank cuts global economic growth outlook Wednesday, 6 Jan 2016 | 4:57 PM ET

    Jan 6- The World Bank on Wednesday cut its global economic growth forecast for 2016, saying the weak performance of major emerging market economies will tamp activity overall, as will anemic showings from developed countries such as the United States. "Given the size and global economic integration of the largest emerging markets- Brazil, the Russian...

  • Emerging economies to weigh on growth: World Bank Wednesday, 6 Jan 2016 | 3:01 PM ET

    Weak growth among major emerging markets will weigh on growth in 2016, with advanced economies solely responsible for a modest expansion.

  • KAMPALA, Dec 22- The World Bank has canceled a $265 million infrastructure project in Uganda after a review found evidence of misconduct by its contractor, including sexual harassment of female workers and road workers having sexual relations with underage girls. The project, which included the construction of about 225 km of road in western Uganda, began in...