A leading lender shaping development policy and funding for poor nations.
The ongoing conflict in the Middle East has led to significant economic and military costs. The US has spent over $22 billion on operations, while Arab economies face losses up to $194 billion, with millions at risk of increased poverty and unemployment. The situation remains highly volatile as the war continues.
The IMF has revised its global growth forecast for 2026 downward to 3.1%, citing the impact of the Iran war. Higher energy prices and supply disruptions are driving inflation and slowing economic progress worldwide, especially in emerging markets and developing countries. The outlook remains uncertain.
As global energy tensions rise, Liberia faces inflationary pressures and policy responses examined in a World Bank engagement linked to the ARREST Agenda. Officials warn of sustained macroeconomic risks from rising fuel costs and oil-market disruptions.
The US Treasury has extended a 30-day waiver allowing the purchase of Russian oil loaded onto ships by April 24, aiming to stabilize global energy markets amid the US-Israeli war on Iran and the closure of the Strait of Hormuz. Meanwhile, the US has ended the waiver for Iranian oil, enforcing a blockade that will force Iran to shutter production soon.
Lebanese officials have reaffirmed their commitment to reaching an IMF agreement despite ongoing conflict and recent Israeli strikes. Damages from the war are estimated at $7 billion, delaying economic reforms. International support remains crucial for Lebanon's recovery, with damage assessments underway as ceasefire efforts continue.
A Colombia‑ and Netherlands‑hosted summit in Santa Marta has convened more than 50 countries (April 24–29) to open political debate on phasing out oil, gas and coal. Organisers are focusing on renewable energy, energy security and finance while major producers such as Saudi Arabia and some large economies are not attending.
Parliament has passed the Protection of Sovereignty Bill after amendments, with Museveni approving the measure. The law tightens controls on foreign-funded actors, introduces penalties, and aims to shield policy autonomy. Critics warn it risks suppressing civil society, media, and dissent while supporters say it defends national sovereignty.
MSF reports that Israeli authorities have systematically destroyed nearly 90% of Gaza's water and sanitation infrastructure, obstructing access and causing inhumane living conditions. Despite a ceasefire, violence continues, and water scarcity worsens, threatening civilian health and survival.
The Middle East conflict has pushed up fuel, fertiliser and packaging costs, feeding higher food prices globally. Retailers warn inflation is likely to continue if the war persists, while farmers face rising input costs and potential production cuts.
Ukraine faces ongoing daytime drone and missile strikes as Russia extends attacks across major cities and infrastructure. Officials report casualties and damage, with air defences under renewed strain and international calls for support.
G7 finance ministers and central bank governors have been meeting in Paris to address the economic fallout from the Iran war and volatility in bond markets. While they have reaffirmed a multilateral approach and support for Ukraine, tensions persist between the United States and other members over Iran, Russia, and energy supplies. The meetings set the stage for Evian summit discussions on critical minerals, global imbalances, and energy transit.
Since January, the US‑led Board of Peace for Gaza has received pledges totalling billions but has had virtually no funds transferred into its World Bank‑administered account; donors are instead routing money into a JPMorgan account with limited transparency, and only a small share of pledged aid has reached Gaza as fighting and political disputes continue. (28 May 2026)
Kenya has withdrawn its tariff review application, with government saying the move protects households and businesses from cost escalation while safeguarding growth, jobs and industrial competitiveness. The Energy and Petroleum Ministry confirms that tariff decisions will follow the Energy Act 2019 processes, including EPRA evaluations and public participation; current tariffs remain in force.
Fertiliser prices have surged globally amid the Iran conflict, prompting Senegalese farmers to shift from chemical fertilisers to organic compost and manure. Governments are weighing temporary measures to curb costs while experts warn on food security and climate benefits of sustainable alternatives.
The US‑Israel war on Iran has pushed energy, fertilizer and transport costs higher and forced global agencies to cut growth forecasts. The OECD and other groups have reduced 2026 growth projections, UNICEF has reported soaring freight bills and delivery delays, and US consumer sentiment has ticked up slightly as gas prices ease (15 June 2026).
The IEA has warned Africa risks remaining energy-poor unless investment in energy infrastructure increases significantly. Nigeria remains at the center of Africa’s energy challenge, with 85 million people lacking electricity. Despite major World Bank-supported projects and several reforms, the grid remains unreliable and industrial activity suffers. The government has cancelled undisbursed World Bank funding, aggravating liquidity constraints and pushing manufacturers to rely on costly generators.
Leaders of the world’s seven largest economies are gathering in Evian-les-Bains as divisions over Iran, Ukraine, and economic imbalances test cohesion. A deal to end the Iran war is anticipated, but consensus remains elusive as European allies push for firmer action and the U.S. position under Trump remains uncertain.
The World Bank has cut its 2026 global growth forecast to 2.5% and has warned growth could fall to 1.3% if disruptions to oil and fertiliser flows from the Middle East persist. Rising energy and food costs are pushing inflation higher and hitting developing countries hardest; the bank has pledged up to $100bn in support.
The Strait of Hormuz remains a focal point as multiple sources indicate shifting dynamics in Gulf oil flows. Analysts say international pressure, sanctions, and ongoing fighting shape when and how Gulf oil will move, with some shipments reappearing while overall volumes stay depressed. The pace of mine clearance, lane re-opening, and fleet re-mobilization will determine when prewar flows resume.
Labour has pledged to remove discriminatory age bands and equalise pay for 18–20-year-olds with older workers. Ministers say reforms aim to reduce insecure work while acknowledging challenges faced by hospitality and high street employers amid cost-of-living pressures. The LPC timeline remains central to when youth rates will align with adult pay.
Analysts say sovereign-rating rules inflate the perceived risk of African renewable-energy projects, raising borrowing costs and slowing electrification across the continent. Only Botswana and Mauritius hold investment-grade ratings, hindering investment in projects such as Kenya’s Menengai Geothermal and Nigeria’s Solar IPP pipeline. Donor collaborations like Mission 300 are expanding access, but financing remains expensive and fragmented.
The United States has begun a phased drawdown of PEPFAR in South Africa, citing policy disagreements and a belief that South Africa can sustain its HIV programs. Pretoria says it will continue treatment with domestic funding, while UN meetings seek clarity on future donor support.
A Bundibugyo Ebola outbreak is driving rapid development of vaccines and antibody therapies. Doses of MBP134 are being used for compassionate use and clinical trials, while several vaccine candidates are advancing toward human testing. Trials face challenges from battlefield-like conditions in eastern Congo and Uganda.
APEC discussions have highlighted a widening gap between the US and China on trade, even as Beijing’s commitments to Boeing orders and US agricultural purchases signal ongoing economic ties. APEC ministers are urging faster implementation of agreed outcomes, with potential shifts as Xi and Trump are expected to meet later this year.
The Indus Waters Treaty remains under strain as India suspends its participation after a Kashmir attack the Pakistan government denies involvement in. Pakistan warns any change to water flows could amount to war, while mediators push for dialogue and adherence to international law.
Federal authorities allege that charity fronts diverted funds to Hamas-linked figures and to Palestinian Islamic Jihad, with cryptocurrency transfers totaling over $30,000 and dozens of transfers to Gaza. The cases involve a Rochester-area mother who led an anti-Israel group and faces up to 20 years in prison.
Moldovan Prime Minister Munteanu has stepped down, saying he can no longer govern according to his principles. President Sandu will consult parliament to appoint a successor; a caretaker government remains in place while a new cabinet is formed. The move follows ongoing scrutiny over a state aviation company and governance questions.