World Bank

June 06, (THEWILL) – The World Bank has said that global economy is on a precarious footing as interest rates have assumed an upward trend. The Bank, therefore, predicts global growth to slow to 2.1 percent in 2023 from...

June 03, (THEWILL) - Ajay Banga has assumed duties in his five-year term as World Bank Group President effective June 2, 2023. A statement by the World Bank Group Saturday said Ajay Banga most recently served as Vice Chairman at...

May 14, (THEWILL) – Rights advocacy group, the Socio-Economic Rights and Accountability Project (SERAP), has urged the World Bank President, David Malpass, to use his “good offices to suspend any disbursement of the $800m loan to the Federal...

May 10, (THEWILL) - President Muhammadu Buhari is seeking the approval of the Senate, for a new loan request of $800 million. President Buhari conveyed his request in a letter read by Senate President, Ahmad Lawan, at plenary on Wednesday....

May 04, (THEWILL) – The Executive Directors of the World Bank have appointed Ajay Banga as President of the Bank for a five-year term beginning June 2, 2023. Banga, an Indian-American business leader, was elected unopposed to head the...

April 18, (THEWILL) – The World Bank has said that Nigeria’s deteriorating fiscal crisis is worsening as Africa’s largest economy used 96.3 percent of its 2022 revenue to service debts. The fact was contained in the Macro Poverty Outlook for...

April 16, (THEWILL) - A civil society organisation, Civil Society Legislative Advocacy Centre (CSLAC), has protested at the 2023 IMF/World Bank Group Spring meetings in Washington DC, USA, against Nigeria’s incessant borrowing from the Bretton Woods Institutions which contributed...

The World Bank has urged Nigeria to ease trade restrictions that block market development and diversify the economy by investing more in agriculture and other non-oil sectors. The Bank also sought improvement in basic infrastructure provision especially electricity and...

April 14, (THEWILL) – The World Bank Group on Thursday, urged Nigeria's President-Elect, Bola Ahmed Tinubu, to ensure a productive economy for Nigeria, to enable his administration effectively tackle the rising poverty rate in the country. President of the...

April 12, (THEWILL) - The International Monetary Fund (IMF) Financial Counsellor and Director of the Monetary and Capital Markets Department, Tobias Adrian, has predicted that interest rates may remain high for some time as central banks battle with risks...