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Rise in emergency financing for other countries since 2016 correlates with drop in infrastructure lendingChina spent $240bn (£195bn) bailing out countries struggling under their belt and road initiative debts between 2008 and 2021, new data shows.Resea…
FTSE 100 rises and European banking shares are up after early jitters over what UBS takeover deal means for bondholdersWhat are AT1 bank bonds – and why are Credit Suisse’s wiped out?First Republic’s shares drop after downgraded credit ratingNils Pratl…
Organisation also says UK will be only G20 economy apart from Russia to shrink this yearCentral banks should maintain the fight against inflation with high interest rates despite fears of a global banking crash, according to the OECD, which said the UK…
Western sanctions are causing serious pressure, with budget deficit forecast to jumpThe oligarch Oleg Deripaska has said Russia could run out of money by next year unless the country secures investment from “friendly” countries as western sanctions bit…
Poland’s PM visits Kyiv as allies demonstrate support on first anniversary of invasionThe first Polish Leopard tanks have arrived in Ukraine, as western allies including the G7 and EU announced a range of further economic, military and financial sancti…
US president puts forward choice to oversee new focus on climate crisis after resignation of Trump appointee David MalpassJoe Biden has nominated a former boss of Mastercard with decades of experience on Wall Street to lead the World Bank and oversee a…
Loan is on top of £25bn that cash-strapped Islamabad already owes Beijing and Chinese commercial banksChina has agreed to loan Pakistan $700m (£580m) to help it weather its worst economic crisis in a generation, in a development that will intensify con…
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Calls for White House to lose stranglehold on choosing bank’s leadershipThe head of the Rockefeller Foundation, Rajiv Shah, has emerged as the favourite to succeed David Malpass as head of the World Bank amid calls for the White House to lose its stran…
David Malpass was criticised when he dodged question about fossil fuels’ link to climate crisisThe World Bank president, David Malpass, has announced his resignation months after sparking controversy by failing to say whether he accepted that fossil fu…