#world bank

World Bank sees 5.2% contraction in MENA, in line with IMF

The dual shock of lower Brent prices and the coronavirus pandemic this year has taken an especially heavy toll on the region

Mustapha Adib Lebanon

Lebanon PM-designate steps down, unable to form government

Mustapha Adib quit on Saturday after a meeting with President Michel Aoun in Baabda near the capital, Beirut

GCC states, World Bank say ready to support Lebanon after blast

Offers for help flow from all over the world, GCC countries lead response

Outward personal remittances from the UAE in Q1 2020 increased 7.8% y-on-y

The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US

World Bank sees record 20% slump in remittances due to virus

The US has long been the top source for outflows, with other major countries including the United Arab Emirates, Saudi Arabia, Switzerland, Germany and Russia

World Bank President Jim Yong Kim

The president of the World Bank resigns

Jim Yong Kim’s resignation takes effect from February 1