United Nations Development Group

Displaced Palestinians gather near a makeshift camp in the area of Tel al-Sultan in Rafah in the southern Gaza Strip on May 30, 2024,

A staggering total of 120 million people are living forcibly displaced by war, violence and persecution, the U.N. said Thursday, branding the ever-increasing number a "terrible indictment on the state of the world."

World Bank President Ajay Banga with Finance Minister Mehmet Şimşek in Ankara on June 11.

The World Bank has lowered its growth projection for the Turkish economy for 2024 from a previous 3.1 percent to 3 percent.

In its Global Economic Prospects Report released on June 11, the bank also cut the GDP growth forecast for 2025 from 3.3 percent in January to 3 percent.

Cyprus Attorney-General George Savvides said on Thursday that a decision by the World Bank's International Center for Settlement of Investment Disputes on the case Theodoros Adamakopoulos and others v. Republic of Cyprus, "vindicates" Cyprus, as regards the measures it took in 2013, with the haircut on bank deposits.

According to Reuters, Kristalina Georgieva, Director of the International Monetary Fund (IMF), has warned that artificial intelligence (AI) will impact a significant portion of the global job market in the near future. Specifically, she stated that within the next two years, AI will affect 60% of jobs in developed economies and 40% of all positions worldwide.

International Finance Corporation, a member of the World Bank Group, has announced an investment of $6 million in Midas, a leading digital brokerage company in Türkiye, "to accelerate digitalization in the country's brokerage industry and strengthen its competitiveness."

It’s a landmark of global Christian art and is included in the UNESCO World Heritage List

Asia was the world's most disaster-hit region from climate and weather hazards in 2023, the United Nations said Tuesday, with floods and storms the chief cause of casualties and economic losses.

Global temperatures hit record highs last year, and the U.N.'s weather and climate agency said Asia was warming at a particularly rapid pace.

Greece was the pleasant surprise of the European economy that was often mentioned at the Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG), National Economy and Finance Minister Kostis Hatzidakis said on wrapping up his visit to Washington.

The International Finance Corporation (IFC), a financial division of the World Bank, intends to invest 1.9 billion USD in projects in Ukraine over the next 18 months, according to a statement from an IFC official to Reuters.

The International Monetary Fund (IMF) is very much supportive of the reform program in place in Türkiye, says Alfred Kammer, director of the IMF European Department.

"That's also what we would be recommending to Türkiye, what the economic team there is carrying out," Kammer said at the press conference on the release of the European Economic Outlook in Washington on April 19.