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Global Economic Prospects_June 2023
Global Economic Prospects_June 2023

Global Economy on Precarious Footing Amid High Interest Rates

Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, according to the World Bank’s latest Global Economic Prospects report.


Online Media Briefing Center (OMBC) news for accredited journalists


Ajay Banga enters the World Bank Group headquarters in Washington, DC, on his first day on the job
Jun 08, 2023

The World Bank Group announced today a months-long global tour for new president Ajay Banga, an early step in his mission to write a new playbook for the 78-year-old institution.

Photo: World Bank
Jun 05, 2023

Domestic food price inflation remains high around the world. Information from the latest month between January 2023 and April 2023 for which food price inflation data are available shows high inflation in most low- and middle-income countries, with inflation higher than 5% in in 70.6% of low-income countries, 81.4% of lower-middle-income countries, and 84% of upper-middle-income countries, with many experiencing double-digit inflation. 

World Bank President Ajay Banga
May 03, 2023

The Executive Directors of the World Bank today selected Ajay Banga as President of the World Bank for a five-year term beginning June 2, 2023.

The World Bank
Apr 27, 2023

Global commodity prices are expected to decline this year at the fastest clip since the onset of the COVID-19 pandemic, clouding the growth prospects of almost two-thirds of developing economies that depend on commodity exports, according to the World Bank’s latest Commodity Markets Outlook report.

The World Bank
May 31, 2023

The World Bank Group is highly concerned with Uganda’s enactment of the 2023 Anti-Homosexuality Act.  If implemented, the Act would endanger people by placing an added barrier to vital medical care, disease screening, and precautions.

buildings reflecting trees
May 18, 2023

Cities - home to more than half of the world’s population and responsible for about 70% of global greenhouse gas emissions – are at the heart of the climate challenge. A new World Bank report, "Thriving: Making Cities Green, Resilient, and Inclusive in a Changing Climate," investigates the crucial role cities play in both stopping climate change and protecting people from its impacts.

The co-directors of the 2023 World Development Report are seen on a promotional image for an associated video.
Apr 25, 2023

Populations across the globe are aging at an unprecedented pace, making many countries increasingly reliant on migration to realize their long-term growth potential, according to a new report from the World Bank.

Logistics Performance Index (LPI), Connecting to Compete
Apr 21, 2023

The World Bank today released its 2023 Logistics Performance Index report, a measure of countries’ ability to move goods across borders with speed and reliability.