WASHINGTON—Top world financial officials gathered in Washington this past week confronted a grim picture of the growing economic costs of Russia’s war in Ukraine and the challenges they face to help pay Ukraine’s short- and long-term bills. Ukraine needs around $5 billion a month in budgetary support for up to five months and roughly $600
The World Banks economic sector lending arm provided nearly half a billion dollars to 4 Chinese companies accused of using Uyghur forced labor in Chinas far-western Xinjiang area, according to an investigative report released Thursday. The International Financial Corporation (IFC) has a number of investments in the region, where mainly Muslim Uyghurs and other Turkic
PICTURE GALLERY (CLICK TO ENLARGE). NEW YORK CITY– At last months COP26 climate top, numerous banks declared that they would put trillions of dollars to work to finance services to environment change.Yet a major barrier stands in the way: The worlds financial system actually restrains the flow of financing to establishing nations, creating a monetary
