World bankers meet amid global inflation and recession threats
With leadership under fire and a mix of crises, finance ministers and central bankers held World Bank meetings.
International Monetary Fund (IMF)
The IMF is a cooperative institution of member countries that lends money to members having difficulties meeting financial obligations to other members. The loans are handed out on condition that economic reforms are undertaken to eliminate these difficulties for their own good and that of the entire membership.
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U.N. warns world 'on edge of recession'
The world is on the brink of recession, UNCTAD said in projecting growth slowing to 2.2% in 2023 with cascading crises of debt, health and climate.
Hunger from climate, conflicts and rising prices hits developing world
With 50 million 'a step away from starvation,' humanitarian groups calculate a person dies of hunger every four seconds.
War in Ukraine accelerates poverty and starvation
Skyrocketing food and energy prices caused by Russia's invasion of Ukraine pushed 71 million more people into extreme poverty, UNDP reported.
Ukraine maps US$750B postwar recovery plan
More than 40 nations and international organizations signed onto a roadmap for Ukraine's recovery with longterm financial, political and technical support.
Voting rights in international organizations
Proportion of voting rights in international organizations, with only small changes over time to reflect agreement on suspension and negotiated changes.
Proportion of developing countries in organizations
Share of members of international organizations defined as developing countries.
Pandemic, climate, economy top Davos Agenda
Despite U.S.-China tensions, leaders touted cooperation on the pandemic, climate action, and economic recovery during the Davos Agenda virtual gathering.
Europe leads on ESG as global rules sought
The rise of ESG investing creates an "urgent demand for global standards," says an organization working on them as the next U.N. climate summit nears.
Summit marks U.S. re-entry to climate fight
A global summit's mood was perhaps best reflected in the U.N. chief beaming at the new U.S. climate envoy's pledge to restore American climate leadership.
U.S. currency dispute puts IMF role in spotlight
The IMF was thrust into a dispute over currency manipulation as the U.S. accused Vietnam and Switzerland of currency manipulation.
G-20 agrees to 'common framework' for debt relief
The G-20 major economies agreed to a framework for more debt relief among poor nations, responding to appeals from humanitarian and economic leaders.
Envoy says 126 nations seek carbon neutrality
The top U.N. official for global climate action said 65% of the world body's 193 member nations will seek net zero carbon emissions by 2050.
Experts urge G-20 to outdo debt suspensions
Experts cautioned a move by the world's richest countries to give the poorest ones more time to pay off debts will not do enough to alleviate massive suffering.
IMF sees global economy shrinking 4.4% in 2020
The pandemic-hit global economy is expected to contract by as much as 4.4% this year, the International Monetary Fund forecast.
Organizations call on G-20 to cancel debts
Four anti-poverty international organizations called on G-20 finance ministers to cancel debts in poor nations so they can deal with the COVID-19 pandemic.