Development banking

FILE- In this file photo taken Thursday, April 30, 2020, Women carrying their children lineup to receive vegetables from the Jan Hofmeyer community services in the Vrededorp neighborhood of Johannesburg. South Africa is struggling to balance its fight against the coronavirus with its dire need to resume economic activity. The country with the Africa’s most developed economy also has its highest number of infections — more than 19,000. (AP Photo/Jerome Delay, file)
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May 28, 2020 - 7:40 pm
UNITED NATIONS (AP) — The U.N. chief on Thursday warned the largest gathering of world leaders since the coronavirus pandemic began that it will cause “unimaginable devastation and suffering around the world,” with historic levels of hunger and famine and up to 1.6 billion people unable to earn a...
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In this photo taken on Friday, Jan. 17, 2020, Russian Foreign Minister Sergey Lavrov, speaks during a news conference in Moscow, Russia. Russia's foreign minister has angrily rejected Western claims that Moscow is using the coronavirus crisis to expand its political influence. Foreign Minister Sergey Lavrov said Tuesday, April 14 that suggestions from some in the West that Russia had opaque motives for helping Italy respond to the virus resulted from "Russophobia." (AP Photo/Alexander Zemlianichenko)
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April 28, 2020 - 11:09 am
MOSCOW (AP) — The New Development Bank will allocate up to $15 billion for loans to help the so-called BRICS nations - Brazil, Russia, India, China and South Africa - boost their economies amid the coronavirus pandemic, Russia's foreign minister said Tuesday. “We believe that it should become a...
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In this April 8, 2020 photo, laborers wear facemasks to protect against the spread of the new coronavirus as they look at job postings at a labor market in Qingdao in eastern China's Shandong Province. China has reported its biggest economic decline since the 1970s as it fought the coronavirus in the first quarter of the year. (Chinatopix via AP)
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April 17, 2020 - 3:37 pm
WASHINGTON (AP) — The 189-nation International Monetary Fund and its sister lending agency, the World Bank, on Friday pledged to step up their efforts to cushion the blow to the global economy from the coronavirus pandemic. The two agencies' assurance came at the end of their spring meeting where...
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A masked man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, April 15, 2020. Asian stocks edged lower Wednesday after the International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s due to the coronavirus pandemic. (AP Photo/Kin Cheung)
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April 15, 2020 - 12:06 am
Asian stocks edged lower Wednesday after the International Monetary Fund said the global economy will suffer its worst year since the Great Depression of the 1930s due to the coronavirus pandemic. Benchmarks in Tokyo and Hong Kong were flat while Shanghai and Sydney declined despite Wall Street's...
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The buildings of the banking district are seen in Frankfurt, Germany, early Tuesday, April 14, 2020. Due to the coronavirus the economy expects worldwide heavy losses. (AP Photo/Michael Probst)
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April 14, 2020 - 9:52 am
WASHINGTON (AP) — Beaten down by the coronavirus outbreak, the world economy in 2020 will suffer its worst year since the Great Depression of the 1930s, the International Monetary Fund says in its latest forecast. The IMF said Tuesday that it expects the global economy to shrink 3% this year — far...
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Ukrainian President Volodymyr Zelenskiy wearing a face mask to protect against coronavirus speaks during an extraordinary parliamentary session in Kyiv, Ukraine, Monday, March 30, 2020. Ukraine has been under quarantine since March 12. The new coronavirus causes mild or moderate symptoms for most people, but for some, especially older adults and people with existing health problems, it can cause more severe illness or death. (AP Photo)
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March 31, 2020 - 4:28 am
KYIV, Ukraine (AP) — Ukraine's parliament has voted to lift the ban on the sale of farmland in a move that would allow the country to get $8 billion worth of aid from the International Monetary Fund. The bill, long pushed by economists to stimulate investment in agriculture, was approved by 259...
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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)
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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)
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March 26, 2020 - 2:25 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)
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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)
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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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