There is a “material risk” that setbacks in containing the pandemic could result in a much weaker recovery, the bank warns.
“While growth could be stronger if reduced trade tensions lead to a sustained reduction in uncertainty, the balance of risks is to the downside."
David Malpass has criticized the bank's lending policies, raising concerns that he has been selected to push "a U.S.-policy-driven agenda.”
There's a low probability the U.S. will see a recession in 2019, but there's a lot of downside risk to the World Bank's estimate of moderately lower growth.
“This boost in capital was essential for us to advance our efforts to mobilize additional finance for development," the bank's president says.
In its latest Global Economics Report, the bank predicts 2.4% global growth for 2016, down from the 2.9% estimated in January.
The fad for mixing public, charitable, and private money.
"Fiscal policy should be better calibrated to the strength of the recovery," Christine Lagarde said.
Once again, the World Bank chops some basis points off global economic growth projections, describing the euro zone and Japan as "sputtering."
To help defuse staff anger over a radical restructuring of the World Bank, CFO Betrand Badré forgoes a $95,000 bonus.
In the wake of the Malaysian jet disaster, the U.S. plans on opposing aid projects for Russia funded by the World Bank.
Brazil, Russia, India, China and South Africa agree to fund a $50 billion development bank and a $100 billion currency exchange reserve.
