Development banking

FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000. (AP Photo/Jerome Delay, file)
May 28, 2020 - 4:40 pm
UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to earn a...
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Ukraine's President Volodymyr Zelenskiy speaks to the media during a news conference in Kyiv, Ukraine, Wednesday, May 20, 2020. At the press conference marking Zelenskiy's one year in office, the president answered questions about domestic affairs, foreign policy and his main achievements. (Sergey Dolzhenko/Pool Photo via AP)
May 22, 2020 - 5:28 am
KYIV, Ukraine (AP) — The International Monetary Fund said Thursday it has reached an agreement with authorities in Ukraine to allocate $5 billion to help the country cope with the economic fallout of the coronavirus outbreak. “This will ensure that Ukraine is well-poised to return to growth and...
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In this photo taken on Friday, Jan. 17, 2020, Russian Foreign Minister Sergey Lavrov, speaks during a news conference in Moscow, Russia. Russia's foreign minister has angrily rejected Western claims that Moscow is using the coronavirus crisis to expand its political influence. Foreign Minister Sergey Lavrov said Tuesday, April 14 that suggestions from some in the West that Russia had opaque motives for helping Italy respond to the virus resulted from "Russophobia." (AP Photo/Alexander Zemlianichenko)
April 28, 2020 - 7:18 am
MOSCOW (AP) — The New Development Bank will allocate up to $15 billion for loans to help the so-called BRICS nations - Brazil, Russia, India, China and South Africa - boost their economies amid the coronavirus pandemic, Russia's foreign minister said Tuesday. “We believe that it should become a...
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In this April 8, 2020 photo, laborers wear facemasks to protect against the spread of the new coronavirus as they look at job postings at a labor market in Qingdao in eastern China's Shandong Province. China has reported its biggest economic decline since the 1970s as it fought the coronavirus in the first quarter of the year. (Chinatopix via AP)
April 17, 2020 - 12:37 pm
WASHINGTON (AP) — The 189-nation International Monetary Fund and its sister lending agency, the World Bank, on Friday pledged to step up their efforts to cushion the blow to the global economy from the coronavirus pandemic. The two agencies' assurance came at the end of their spring meeting where...
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A masked man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, April 15, 2020. Asian stocks edged lower Wednesday after the International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s due to the coronavirus pandemic. (AP Photo/Kin Cheung)
AP News
April 14, 2020 - 9:06 pm
Asian stocks edged lower Wednesday after the International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s due to the coronavirus pandemic. Benchmarks in Tokyo and Hong Kong were flat while Shanghai and Sydney declined despite Wall Street's...
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The buildings of the banking district are seen in Frankfurt, Germany, early Tuesday, April 14, 2020. Due to the coronavirus the economy expects worldwide heavy losses. (AP Photo/Michael Probst)
April 14, 2020 - 6:29 am
WASHINGTON (AP) — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far...
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April 12, 2020 - 11:01 am
MEXICO CITY (AP) — The new coronavirus pandemic could send economies tumbling by 4.6% this year across Latin America and the Caribbean, forcing governments to take ownership stakes in struggling major businesses, according to a World Bank report issued Sunday. The bank’s Latin America and Caribbean...
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FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Friday, March 27, it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)
April 09, 2020 - 12:44 pm
WASHINGTON (AP) — The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world's poorest countries suffering the most, the head of the International Monetary Fund said Thursday. “We anticipate the worst economic fallout since the Great...
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An Impoverished Indians gives his finger print on a biometric machine after purchasing food ration in Prayagraj, India, Thursday, April 2, 2020. India is adding more resources to tackle its increase in coronavirus cases by announcing that private hospitals may be requisitioned to help treat virus patients, and turning railway cars and a motor racing circuit into makeshift quarantine facilities. The steps were taken after a nationwide lockdown announced last week by Prime Minister Narendra Modi led to a mass exodus of migrant workers from cities to their villages, often on foot and without food and water, raising fears that the virus may have reached to the countryside, where health care facilities are limited. (AP Photo/Rajesh Kumar Singh)
April 02, 2020 - 2:19 pm
WASHINGTON (AP) — The World Bank on Thursday approved its first funds to help some of the globe's poorer countries combat the coronavirus outbreak. It approved total aid of $1.9 billion for 25 countries. The largest amount of assistance was $1 billion for India followed by $200 million for Pakistan...
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FILE - In this Feb. 14, 2020 file photo, Kristalina Georgieva, Managing Director of the International Monetary Fund, attends a session on the first day of the Munich Security Conference in Munich, Germany. Georgieva said Friday, March 27, it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. She said the 189-nation lending agency was forecasting a recovery in 2021, saying it could be a “sizable rebound.” But she said this would only occur if nations succeed in containing the coronavirus and limiting the economic damage(AP Photo/Jens Meyer, File)
March 27, 2020 - 12:54 pm
WASHINGTON (AP) — The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the 2009 downturn. IMF Managing Director Kristalina Georgieva said the 189-nation lending agency was forecasting a recovery in...
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