Development banking

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 - 3:54 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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In this photo released by Saudi Press Agency, SPA, Saudi King Salman, chairs a video call of world leaders from the Group of 20 and other international bodies and organizations, from his office in Riyadh, Saudi Arabia, Thursday, March 26, 2020. The meeting is aimed at coordinating the global response to the fast-spreading coronavirus, which has shuttered businesses and forced well over a quarter of the world's population into home isolation. (Saudi Press Agency via AP)
March 26, 2020 - 6:01 pm
DUBAI, United Arab Emirates (AP) — The head of the United Nations told leaders of the world’s 20 major industrialized nations during an emergency virtual summit Thursday that "we are at war with a virus — and not winning it” despite dramatic measures by countries to seal their borders, shutter...
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In this photograph taken Thursday March 19, 2020 , A woman spills water at squatter camp in Soweto, South Africa. Some countries around the world lack the equipment and trained health workers to respond to the threat of COVID-19 virus. For most people the virus causes mild or moderate symptoms, but for others it causes severe illness. (AP Photo/Themba Hadebe)
March 22, 2020 - 5:23 am
LONDON (AP) — To offset the crushing costs of trying to stem a global epidemic, the World Bank and partners announced the creation of “pandemic bonds” several years ago: the idea was to leverage private capital from Wall Street firms that would help stricken poor countries. But since the bonds were...
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Mourners wearing face masks and gloves pray over the body of former politburo official in the Revolutionary Guard Farzad Tazari, who died Monday after being infected with the new coronavirus, at the Behesht-e-Zahra cemetery just outside Tehran, Iran, Tuesday, March 10, 2020. Iran is the hardest-hit country in the Mideast by the new coronavirus, which sickens but largely doesn't kill those afflicted. (Mahmood Hosseini/Tasnim News Agency via AP)
March 12, 2020 - 2:59 pm
TEHRAN, Iran (AP) — Iran said Thursday it asked the International Monetary Fund for a $5 billion loan to fight the coronavirus, the first time since the 1979 Islamic Revolution that it has sought such assistance, in a staggering admission of how fragile its economy has become amid the epidemic and...
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A couple kiss, at the Barcelona airport, Spain, Thursday, March 12, 2020. President Donald Trump, who had downplayed the coronavirus for weeks, suddenly struck a different tone, announcing strict rules on restricting travel from much of Europe to begin this weekend. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Emilio Morenatti)
March 12, 2020 - 8:21 am
The Latest on the coronavirus pandemic: Iran has asked for an emergency $5 billion loan from the International Monetary Fund to combat the outbreak of the novel coronavirus there, which has killed more than 360 people and infected some 9,000 nationwide. Iran's Central Bank chief Abdolnasser Hemmati...
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Travelers at Seattle-Tacoma International Airport wear masks Tuesday, March 3, 2020, in SeaTac, Wash. Six of the 18 Western Washington residents with the coronavirus have died as health officials rush to test more suspected cases and communities brace for spread of the disease. All confirmed cases of the virus in Washington are in Snohomish and King counties. (AP Photo/Elaine Thompson)
March 03, 2020 - 6:42 pm
AID AVAILABLE: The World Bank announced Tuesday that it is making $12 billion available to provide immediate support to low-income countries dealing with the health and economic impacts of the coronavirus. World Bank President David Malpass said the money will go to help developing nations...
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Travelers at Seattle-Tacoma International Airport wear masks Tuesday, March 3, 2020, in SeaTac, Wash. Six of the 18 Western Washington residents with the coronavirus have died as health officials rush to test more suspected cases and communities brace for spread of the disease. All confirmed cases of the virus in Washington are in Snohomish and King counties. (AP Photo/Elaine Thompson)
March 03, 2020 - 6:16 pm
AID AVAILABLE: The World Bank announced Tuesday that it is making $12 billion available to provide immediate support to low-income countries dealing with the health and economic impacts of the coronavirus. World Bank President David Malpass said the money will go to help developing nations...
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Travelers at Seattle-Tacoma International Airport wear masks Tuesday, March 3, 2020, in SeaTac, Wash. Six of the 18 Western Washington residents with the coronavirus have died as health officials rush to test more suspected cases and communities brace for spread of the disease. All confirmed cases of the virus in Washington are in Snohomish and King counties. (AP Photo/Elaine Thompson)
March 03, 2020 - 4:52 pm
AID AVAILABLE: The World Bank announced Tuesday that it is making $12 billion available to provide immediate support to low-income countries dealing with the health and economic impacts of the coronavirus. World Bank President David Malpass said the money will go to help developing nations...
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Members of political parties and social movements protest the visit of an International Monetary Fund (IMF) delegation, one with a sign that reads in Spanish "Get out of Argentina IMF. No to the debt payment," in Buenos Aires, Argentina, Wednesday, Feb. 12, 2020. Argentina announced Tuesday that it will delay paying principal on a peso-denominated bond that had been due this week while it works on restructuring an overall debt it says is unpayable at a time of economic hardship. (AP Photo/Gustavo Garello)
February 12, 2020 - 5:29 pm
BUENOS AIRES, Argentina (AP) — Argentina has been here before: recession, growing poverty, high inflation, billions of dollars in debt, a looming deadline for repayment and simmering anger toward the International Monetary Fund. This is a big week for one of Latin America's biggest economies, which...
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Members of political parties and social movements protest the visit of an International Monetary Fund (IMF) delegation, one with a sign that reads in Spanish "Get out of Argentina IMF. No to the debt payment," in Buenos Aires, Argentina, Wednesday, Feb. 12, 2020. Argentina announced Tuesday that it will delay paying principal on a peso-denominated bond that had been due this week while it works on restructuring an overall debt it says is unpayable at a time of economic hardship. (AP Photo/Gustavo Garello)
February 12, 2020 - 3:04 pm
BUENOS AIRES, Argentina (AP) — Argentina has been here before: recession, growing poverty, high inflation, billions of dollars in debt, a looming deadline for repayment and simmering anger toward the International Monetary Fund. This is a big week for one of Latin America's biggest economies, which...
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