A misguided killing of the long-running "Ease of Doing Business" report underscores a need for reform at the World Bank.
The largest single factor in the reduced growth forecast was a projected economic contraction of 4.1% across Europe and Central Asia.
Economic mismanagement by successive governments weakened Sri Lanka's public finances, leaving its national expenditure in excess of its income.
"The Executive Board reaffirms its full confidence in the Managing Director's leadership and ability to continue to effectively carry out her duties," said IMF.
Kristalina Georgieva, managing director of the IMF, is under pressure after allegations that she told staff at the World Bank to amend rankings to China's benefit.
The World Bank has become the latest international organization to pause aid disbursements to Afghanistan following the Taliban's takeover.
Esther Duflo, whose antipoverty research won a Nobel Prize, says blaming unemployment benefits for a tight labor market misses the mark on the Covid economy.
More than 2 billion tonnes of global waste is generated yearly. By 2050, it's expected to increase to 3.4 billion tonnes. CNBC's Nessa Anwar traces the journey of a piece of discarded trash in Singapore to the nation's only landfill, exploring solutions and the future of the world's garbage dilemma.
Apeel, a food science start-up focused on food waste, has a new approach to a big problem for the world's smallest farms, and it has raised $30 million from investors including the World Bank Group's IFC.
"The learning goes backward. That's a particular problem in the developing world," according to David Malpass, president of the World Bank.
U.S. Assistant Secretary of State for Near Eastern Affairs David Schenker concludes his two-day trip to Lebanon on Friday after choosing to only meet with opposition demonstrators rather than members of the country's political establishment.
Poverty levels are rising for the first time since 1998 due to the coronavirus pandemic, which has exacerbated income inequality. CNBC's Silvia Amaro looks at what steps governments can take to promote economic equality.
Three-quarters of the CNBC Global CFO Council say Democratic nomiee Joe Biden will win the 2020 Presidential election.
The Italian government approved a package of measures on Tuesday aimed at cutting the complicated red tape that has long been blamed for crimping growth in the euro zone's third-largest economy.
The coronavirus pandemic has reignited a conversation about debt relief to certain African nations as they look to fend off the kind of mass-scale spread seen in the U.S. and Europe.
OCBC's Vasu Menon says that the risk of a second wave of Covid-19 supports the IMF's downgrade of its global growth forecast for 2020.
Indigo Agriculture uses microbiology and technology to create seed treatments that optimize the health of a plant in order to increase its yield.
"Many of the very populous countries need extra support right now," World Bank President David Malpass told CNBC on Wednesday.
Stocks dropped on Wednesdsay as earnings season gets into full gear, giving investors a picture at the coronavirus-induced damage.
"Under no circumstances can the world, the region, or India, allow an epicenter to emerge in India," said the World Bank's country director for India, Junaid Ahmad.
