World Bank

The IMF and World Bank warned on Monday that the Gaza war and the related attacks on shipping though the Red Sea pose threats to the global economy.

The Israel-Hamas war raging since October has already hit the Middle East and North Africa region's economy, said the International Monetary Fund's managing director Kristalina Georgieva.

"Bulgaria has had a history of low deficit, low debt to GDP. So that part of the system has worked very well. We can say that the monetary and fiscal situation has worked well since July 1997, when we installed the currency board in Bulgaria. So, it's a big success. Now, the failure side was obvious to me when I was an advisor to President Stoyanov in 1997. And that is corruption.

BELGRADE - Serbian Finance Minister Sinisa Mali met with World Bank Regional Director for Europe and Central Asia Asad Alam in Belgrade on Monday.

The parties said Serbia's economic performance was good and that there were no problems with any of the 14 projects the World Bank was involved in in Serbia.

The World Bank approved $300 million in financing for Ghana on Jan. 23 to help support the African country's recovery from its worst economic turmoil in years.

After enduring a year of institutional uncertainty, Nexo, a prominent global digital asset institution, is seeking justice through a legal claim exceeding USD 3 billion against the Republic of Bulgaria.

DAVOS - Since 2012-2013, Serbia has succeeded in more than doubling its total GDP from 32 bln euros to almost 69 bln euros, Serbian President Aleksandar Vucic said at a World Economic Forum (WEF) discussion panel in Davos on Thursday.

Vucic noted that the IMF had projected Serbia's GDP to grow 3.5 pct in 2024 but that he believed the growth rate would reach 3.6 pct.

In the occupied West Bank, Hafeth Ghazawneh waits in quiet frustration for customers to visit his falafel stall, which has been deserted since the Oct. 7 Hamas attacks in Israel.

His breakfast and lunch offerings were popular with craftsmen from workshops near Al-Bireh, the twin city of Ramallah, before the Israel-Hamas war broke out.

Thousands of legal cases will soon be handled outside of courtrooms and be resolved by lawyers and some by notaries, according to a Justice Ministry bill aiming to decongest Greece's judicial system.

The ministry views unburdening the courts as essential as a World Bank study ranks Greece 146th worldwide in delays in administering justice.

The Industrial Development Bank of Türkiye (TSKB) has announced that it obtained a $155 million loan from the World Bank, with the guarantee of the Treasury and Finance Ministry, to establish the Türkiye Green Fund.

The World Bank Board has approved a $155 million loan for the greening of firms through equity financing, and mobilized private capital and expanded climate financing in Türkiye's capital markets.

The funds will be channeled by the Industrial Development Bank of Türkiye (TSKB), which will use them to partially capitalize a Türkiye Green Fund (TGF), the World Bank said in a statement.