World Bank

Yellen: No Need to Replace IMF Director over China Data-Rigging Scandal

Treasury Secretary Janet Yellen conceded on Monday that “legitimate issues and concerns” have been raised by a report that found World Bank data was rigged to make China looked better, but added she saw no reason to replace International Monetary Fund (IMF) Managing Director Kristalina Georgieva for her alleged role in the scandal.

The IMF says it will reach a decision on the fate of Managing Director Kristalina Georgieva 'very soon'

Analysts Say Zambia Concealed Half of its $6.6 Billion Debt to China

Analysts from the China Africa Research Initiative (CARI), a Johns Hopkins University project to study China’s political and economic influence among African nations, said on Tuesday the African nation of Zambia owes $6.6 billion to China – more than double the amount claimed by former President Edgar Lungu. 

Zambia's President Edgar Lungu (L) shakes hands with China's President Xi Jinping before their bilateral meeting at the Great Hall of the People on September 1, 2018. - Lungu is in China for the Forum on China-Africa Cooperation which will be held in Beijing on September 3 and 4. (Photo …

U.N. Chief Guterres Renews Call for More Global Governance, Bureaucratic Regulation

U.N. Secretary-General Antonio Guterres renewed his call for “more robust global governance” Wednesday, adding the World Bank and the International Monetary Fund (IMF), regional authorities such as the African Union and the European Union (E.U.) to a list of organizations he says can bring “order” to a future world disrupted by the coronanvirus pandemic.

UN Secretary-General Antonio Guterres looks on during the opening of the UN Human Rights Council's main annual session on February 24, 2020 in Geneva. - The UN's secretary general launched a "call to action" on Monday against rising attacks on human rights worldwide, highlighting the persecution of minorities and "alarming …

Kenya Asks World Bank for $740 Million Loan amid Growing China Debts

Kenya’s request this week for a $740 million loan from the World Bank, of which American taxpayers remain the largest stakeholders, has sparked outrage as the African country continues to deny its financial woes and accept gigantic sums of money from China to fuel its role in Beijing’s ambitious Belt and Road Initiative (BR).

Chinese President Xi Jinping (top R) and Kenyan President Uhuru Kenyatta (top L) attend a signing ceremony after their bilateral meeting during the Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing on May 15, 2017. / AFP PHOTO / POOL / Etienne …