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US faces deadline to nominate World Bank chief

The United States faced a deadline Friday to nominate a new World Bank chief, as strong candidates backed by emerging countries ramped up the pressure on Washington to name a high-profile figure. The White House has until 6:00 pm (2200 GMT) to nominate a candidate to succeed Robert Zoellick at…

Closing gender gap will boost growth: World Bank

Women in the developing world have made strides in education, but still lag far behind men in opportunities, a gender gap that is hampering growth, the World Bank said in a report. Calling on countries to work to shrink that gap, the World Bank said gender equality is important in…

World Bank chief believes U.S. will avoid recession

SINGAPORE — World Bank head Robert Zoellick said Tuesday he was confident the United States would not sink into another recession, despite widespread fears over the state of the world’s biggest economy. Zoellick’s comments come just days after official figures showed no jobs were created in the United States in…

High food prices threaten poorest: World Bank

WASHINGTON — Food prices near record peaks and volatility in commodity markets are driving the lives of the world’s poorest people to the edge of survival, the World Bank warned Monday. Global food prices in July were 33 percent higher than a year ago, while oil prices were up 45…

U.S. denies Clinton seeking to be World Bank chief

WASHINGTON — Top US administration officials Thursday vehemently denied a report by the Reuters news agency that Secretary of State Hillary Clinton was in talks to become the next head of the World Bank. “It’s 100 percent untrue, Reuters is wrong,” Philippe Reines, a close advisor to Clinton, told AFP.…

World Bank unveils $6 billion in funding for Egypt and Tunisia

WASHINGTON (Reuters) – World Bank President Robert Zoellick on Tuesday unveiled $6 billion in funding to help Tunisia and Egypt address budget and reserve shortfalls this year and next, following popular uprisings that ended years of dictatorships but which have caused economic stress. Zoellick said a Group of Eight meeting…

Rising food prices nearing danger point: World Bank

PARIS (AFP) – World Bank president Robert Zoellick warned leaders of the top global economies Saturday that the world is reaching a danger point where soaring food prices threaten further political instability. “I mentioned that we are reaching a danger point,” Zoellick said, adding that he had urged G20 finance…

Food prices push 44 million into poverty: World Bank

WASHINGTON – Rising food prices have pushed about 44 million people into poverty in developing countries since last June, the World Bank warned Tuesday. Food costs are continuing to rise to near 2008 levels, when price spikes in food and oil had devastating impacts on the poor, the development lender…

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