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  • KINGSTON, May 19- Businesses in the Caribbean and Central America are scrambling to make contingency plans over fears that more large banks will cut off relationships with counterparts in developing countries as they pull out of markets seen as riskier, a senior World Bank official said. As a result, business leaders in countries such as Jamaica face...

  • JAKARTA, May 19- China-backed Asian Infrastructure Investment Bank could announce as early as next month a plan to co-finance a national slum upgrading project in Indonesia, in what could be the bank's first foray into the country, Indonesia's finance minister said. The $1.74 billion project, co-funded by the Indonesian government, the World Bank and the...

  • KINSHASA, May 17- Democratic Republic of Congo will seek between $250 million and $500 million in budgetary support from the World Bank this year, pending a review of its economy by the International Monetary Fund next month, the government said on Tuesday. The support would allow the central bank to boost its foreign currency reserves, which have fallen from...

  • *Nigeria needs loans to help fund 2 trillion naira deficit. ABUJA, May 12- Nigeria is still in talks to obtain foreign loans to help fund a record $31 billion budget for this year, aimed at helping Africa's biggest economy cope with a slump in oil prices, its budget minister said on Thursday. Nigeria has applied for a $1 billion loan from both the World Bank and African...

  • OTTAWA/ NEW YORK, April 29- Canada's top court ruled on Friday that the World Bank did not need to turn over documents sought in a case against former employees of SNC-Lavalin accused of bribery, finding the international organization had immunity from the request. The Supreme Court of Canada overturned a lower court order from 2014 that said the World Bank...

  • OTTAWA/ NEW YORK, April 29- The Supreme Court of Canada ruled on Friday that the World Bank did not need to turn over documents sought in a case against former employees of SNC-Lavalin Group Inc accused of bribery. The World Bank barred SNC from participating in World Bank- funded projects for 10 years after conducting an investigation into corruption...

  • OTTAWA, April 29- The Supreme Court of Canada ruled on Friday that the World Bank did not need to turn over documents sought in a case against former SNC-Lavalin employees accused of bribery. In 2014, a lower court judge ruled that the World Bank should release underlying investigative files for judicial review that could be relevant to the defense of the...

  • MINSK, April 28- The World Bank forecast on Thursday a much deeper recession in Belarus this year than it had previously expected as the former Soviet republic struggles with a downturn in neighboring Russia. Seeking loans from international lenders, including $3 billion from the International Monetary Fund, Belarus has implemented cautious economic...

  • But Nathan Sheets, Treasury undersecretary for international affairs, said the United States is not presently considering an investment in the new Beijing- based Asian Infrastructure Bank. The AIIB can help establish a positive track record through co-financing deals with other development banks, such as the World Bank and the Asian Development Bank.

  • WASHINGTON, April 19- The International Monetary Fund and the World Bank said on Tuesday they are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion. The new grouping, which will also include the United Nations and the Organization for Economic Cooperation...

  • WASHINGTON, April 19- The International Monetary Fund and the World Bank said on Tuesday they are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards for taxing multinational enterprises. The new group, which will also include the United Nations and the Organization for Economic Cooperation...

  • Confessional booth

    American officials urged citizens to come forward before they become incriminated by the Panama Papers, reports NBC News.

  • LONDON, April 17- A growing roster of developing states are turning to their compatriots abroad to raise cash by marketing "diaspora bonds", a funding strategy successfully pioneered by India and Israel but sometimes tricky to imitate. Some 250 million people, around 3 percent of the world population, live outside their native countries, according to World Bank...

  • WASHINGTON- African finance ministers press briefing- 1500 GMT. WASHINGTON- International Monetary and Financial Committee press conference at the IMF headquarters- 1700 GMT. WASHINGTON- World Bank holds discussion on "A New Vision for Financing Development".

  • WASHINGTON, April 15- Financial leaders from the Group of 20 major economies scrambled on Friday for a way to keep global growth from stalling amid concerns about a drop-off in international trade and the waning effectiveness of loose monetary policy. The G20 gathering, the highlight of the International Monetary Fund and World Bank spring meetings in...

  • WASHINGTON- IMF discussion on "Private Sector Solutions in Challenging Markets"- 1300 GMT. WASHINGTON- Press briefing: European Department at IMF headquarters- 1315 GMT. WASHINGTON- World Bank holds discussion on "Forced Displacement: A Global Development Challenge".

  • WASHINGTON, April 14- The World Bank will likely take the lead on initial projects jointly financed with China's new Asian Infrastructure and Investment Bank, the head of the Washington- based multilateral lender said on Thursday. The two institutions on Wednesday signed a framework agreement to co-finance projects, and the World Bank said they were...

  • WASHINGTON, April 14- Argentina's government is targeting an inflation rate no higher than 25 percent this year and is making the battle against rising prices its top priority, Finance Minister Alfonso Prat-Gay said on Thursday. Prat-Gay, speaking at an event on the sidelines of the IMF and World Bank spring meetings in Washington, said the country's new...

  • WASHINGTON, April 14- Ukraine's new government must fully implement the International Monetary Fund's financial assistance program, the country's ex-finance minister, Natalia Yaresko, said on Thursday. "Ukraine is highly dependent on the IMF program and I believe that's a huge asset," Yaresko said at an event on the sidelines of the IMF and World Bank spring...

  • WASHINGTON, April 14- Low oil prices will make it more difficult for Syria to rebuild from its civil war because the normal donor nations in the Middle East could struggle to provide support, World Bank President Jim Yong Kim said on Thursday. "I am very worried that there will not be the kind of grant-based aid we might have seen when there was $100 a barrel," Kim said in...