The World Bank

Turkey should combine its success in containing the economic fallout from the COVID-19 pandemic in the short-term with "monetary discipline" to achieve a sustainable recovery, the World Bank has said in its latest Turkey Economic Monitor report.

The European Bank for Reconstruction and Development (EBRD) has downgraded its estimates of Romania's economic developments in 2020 as a result of the crisis caused by the coronavirus pandemic, according to the bank's latest Regional Economic Prospects published on Wednesday.

With the first section of the Bar-Boljare highway through Montenegro due to open at the end of 2020, funding for the rest of the Chinese-built road is looking doubtful due to the country's mounting debts and the global economic fallout from the COVID-19 pandemic, analysts warn.

The World Bank has approved a $100 million loan to Turkey to support its efforts to fight the coronavirus pandemic.

"The project is part of the World Bank's $14 billion global Fast Track Facility," said a bank statement.

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 World Health Organization (WHO) on March 3 warned of a global shortage and price gouging for protective equipment to fight the fast-spreading coronavirus and asked companies and governments to increase production by 40 percent as the death toll from the respiratory illness mounted.

Our efforts yield results - new centres are opened, we have highly qualified employees, Bulgarians are returning from abroad because Bulgaria is a wonderful place to live, Prime Minister Boyko Borissov said at the opening of BOSCH Engineering Centre in Sofia Tech Park, the government press office said.

Bulgarian economist Kristalina Georgieva was confirmed on Wednesday as managing director of the International Monetary Fund, becoming the first head of the $1 trillion-asset global lender from an emerging market economy.

Prime Minister Viorica Dancila Monday begins a working visit to the United States, where she will have several meetings and sign agreements.

World Bank Chief Executive Officer Kristalina Georgieva is the only candidate for IMF director, the International Monetary Fund (IMF) said.

Kristalina Georgieva of Bulgaria, currently CEO of the World Bank, is unrivaled for the post of former managing director Christine Lagarde, who was elected to head the European Central Bank.