Rich economies bounce back as developing economies lose ground
Global economic growth is projected to slow to 2.4% this year, down from 2.7% in 2023 and 3% before the pandemic began.
International Monetary Fund
The International Monetary Fund (IMF) is a cooperative institution of countries that lend 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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War overshadows calls for more IMF and World Bank funding for Africa
Multilateral bank leaders said the world faces a global 'polycrisis' affecting development at an unprecedented scale.
Africa aspires to major role in the effort to combat climate change
African leaders say they have a market-based plan to fight warming that will spread development on the continent.
Macron calls for "public finance shock" to curb climate pollution
Speakers blamed major economies for a system that puts profits over fighting poverty and caring for the planet.
For many of the world's poorest nations, economic outlook is bleak
As interest rates soar and the economy slows, the World Bank sees an 'enduring setback' for many developing economies.
Italy undecided about exiting China's Belt and Road Initiative
As the only G-7 member to have joined Beijing's sprawling global pact, Italy had indicated it would leave. But now Prime Minister Giorgia Meloni says the decision is still up in the air.
Ukraine to secure first IMF loan package due to wartime spending
Ukraine ran up a huge deficit mainly due to military spending, and had to rely on its central bank printing more money.
African nations pay 'extortionate' interest rates on debt, U.N. chief says
Women and girls still don't get the support they need, the U.N. chief said, and African nations cannot develop with "one hand tied behind their backs."
High stakes for COP27 summit as climate becomes a health crisis too
Drought, floods, disease outbreaks and a global food crisis add pressure for real action at the U.N. climate summit in Egypt.
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.
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 $750B postwar recovery plan at Swiss conference
More than 40 nations and international organizations signed onto a roadmap for Ukraine's recovery with longterm 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.