Online Media Briefing Center (OMBC) news for accredited journalists
Highlights
Domestic food price inflation remains high. Inflation higher than 5% is experienced 57.1% of low-income countries (no change since the last update on April 11, 2024), 63.8% of lower-middle-income countries (no change), 33% of upper-middle-income countries (3.0 percentage points lower), and 12.7% of high-income countries (9.1 percentage points lower).
Global commodity prices are leveling off after a steep descent that played a decisive role in whittling down overall inflation last year, which could make it harder for central banks to cut interest rates quickly, according to the World Bank’s latest Commodity Markets Outlook.
A coalition of ten MDBs today launched a new co-financing platform that will enable them to channel additional capital for development scale and impact.
The World Bank Group today announced an ambitious plan to support countries in delivering quality, affordable health services to 1.5 billion people by 2030. This is part of a larger global effort to provide a basic standard of care through every stage of a person’s life—infancy, childhood, adolescence, and adulthood.
Development Committee members discussed the global macroeconomic and financial impact of current wars and conflicts including the war in Ukraine, the humanitarian crisis in Gaza, as well as the shipping disruptions in the Red Sea.
New financial instruments designed to boost lending capacity and enable the World Bank Group to take on more risk for shared global challenges have received a significant endorsement. A set of 11 countries announced commitments today for the Portfolio Guarantee Platform, hybrid capital mechanism, and new Livable Planet Fund totaling $11 billion.
The World Bank Group and African Development Bank Group are partnering on an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030.
Here are the latest bi-annual regional economic updates to explore the macro development trends in Africa, East Asia and the Pacific, Europe and Central Asia, Latin America and the Caribbean, the Middle East and North Africa, and South Asia.
