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FORGOTTEN HISTORY: 2 | History Defined

US President Joe Biden nominates Indian-American Ajay Banga to lead World Bank

NEW DELHI: Former chief executive officer (CEO) of Mastercard Ajay Banga has been nominated by United States to lead the World Bank, President Joe Biden announced on Thursday.

The Times of India

US nominates Ajay Banga for World Bank president

The United States is nominating former Mastercard CEO Ajay Banga to lead the World Bank

The Independent UK

World Bank Hopes to Select New Chief by May

The World Bank said Wednesday it hopes to find a successor by early May to chief David Malpass, who has announced he will step down nearly a year early. The Washington-based development lender will begin accepting candidate nominations on Thursday, a process that will run until March 29. The bank…

Asharq Al-Awsat

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Malpass resigns amid climate controversy

When asked about climate change, David Malpass said he’s “not a scientist.” Soon he won’t be a World Bank president

Salon

It’s high time to rethink how the World Bank operates

Many believe there is little future in trying to tackle problems of the 2020s with institutions created in the 1940s

The Guardian - UK

First Thing: latest objects shot down over US not linked to China, Biden says

‘Private companies’ conclusion likely to fuel criticism that downings were overreaction amid pressure over initial balloon discovery. Plus, there may be a reason you want to sleep more in winter

The Guardian - UK

Climate advocates urge World Bank overhaul as leader exits

Leading climate figures are urging the Biden administration to use the early departure of the Trump-appointed head of the World Bank as an opening to overhaul the powerful financial institution

The Independent UK

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Rockefeller Foundation boss favourite to succeed David Malpass at World Bank

Calls for White House to lose stranglehold on choosing bank’s leadership

The Guardian - UK

Biden set to pounce on much-wanted surprise at World Bank

Biden likely to move quickly in picking new World Bank leader.

Axios

Why World Bank head’s resignation is good news for climate crisis fight

David Malpass’s decision to quit has delighted frustrated developing nations, donors, experts and campaigners

The Guardian - UK

Afternoon Update: Unemployment rises to 3.7%; Queensland shooting declared terrorism; and the ‘perfect’ cosmic explosion

Jim Chalmers says there are ‘human consequences’ for slowing economy

The Guardian - AU

World Bank head criticised over climate stance to step down early

David Malpass led lender through crises including the war in Ukraine but faced criticism over stance on climate change.

Al Jazeera

David Malpass is stepping down as president of the World Bank

Appointed by then-President Trump in 2019, he is leaving before his five-year term expires. Malpass faced backlash over his comments at Climate Week NYC in 2022.

WEKU

World Bank president to step down early

The president of the World Bank Group, David Malpass, will leave his post about a year before the end of his five-year term. Appointed by former US president Donald Trump in 2019, Malpass courted controversy for his views on climate change, but said he was “proud” of the work he…

France 24

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The Independent UK

Trump pick Malpass stepping down as head of the World Bank

David Malpass is stepping down as president of the World Bank, four years after former President Donald Trump picked him to run the 189-nation agency

Axios

David Malpass will step down as World Bank head

Malpass did not explain his reason for stepping down — but his exit comes months after a climate change-related controversy.

Fortune

The U.S. might skate past a recession, but the rest of the world may not be as lucky

A debt crisis is combining with other factors to threaten a prolonged economic decline in the developing world.

France 24

World Bank warns economic slowdown will 'hit developing countries hard'

Another economic forecast has painted a grim picture for global growth, shining a spotlight on the impact on developing economies. The World Bank's Global Economic Prospects report cuts forecasts for 95 percent of advanced economies and nearly 70 percent of emerging market and developing economies. David Malpass, World Bank Group…

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Asharq Al-Awsat

World Bank: Recession a Looming Threat for Global Economy

The global economy will come “perilously close" to a recession this year, led by weaker growth in all the world's top economies — the United States, Europe and China — the World Bank warned on Tuesday. In an annual report, the World Bank, which lends money to poorer countries for…

Reuters

IMF chief Georgieva cites 'fruitful exchange' with China on debt issues

International Monetary Fund chief Kristlina Georgieva said she had a "fruitful exchange" with her Chinese counterparts this week on her repeated calls for accelerating debt treatments for countries like Zambia and Sri Lanka.

The Guardian - UK

World’s poorest countries’ debt interest payments rise 35%, report says

Report’s author, the World Bank, states concern over poor countries’ increasing spending on debt

The Guardian - UK

Climate-focused reform of World Bank could be done in a year, says Al Gore

Former US vice-president says bank should refocus its spending and end its role in ‘fossil fuel colonialism’

The Conversation

4 signs of progress at the UN climate change summit

Something significant is happening in the desert in Egypt as countries meet at COP27, the United Nations summit on climate change.

Reuters

World Bank tells rich countries, give us more cash for climate

The World Bank is ready to step up financing of action to tackle climate change in the world's poorest countries, but needs fresh funds from wealthy donor countries to do so, its managing director of operations told Reuters.

Newsroom.co.nz

Finance a COP sticking point

The third day of the COP summit in Egypt saw signs of movement on climate finance and the resurrection of a controversy about the views of the World Bank president.

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