President Donald Trump says Treasury Department official David Malpass is his choice to lead the World Bank. Malpass, a sharp critic of the 189-nation lending institution, was described by Trump as the “right person” for the job. (Feb. 6)
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President Donald Trump taps World Bank critic David Malpass to lead one of the world’s primary development lending institutions, calling him an “extraordinary man.” SOUNDBITE
Videographic on interest rates. The World Bank says a global slowdown is beginning as government and corporate debt rise and mounting interest rates increase borrowing costs.VIDEOGRAPHICS
With a poverty rate of 76.2 percent, Madagascar, a former French colony, is one of the world’s poorest countries according to World Bank data. As campaigning for a November 7th Presidential election heats up, some of the poorest members of Madagascan society are struggling to develop an interest in the event.
Gunnhild Helmsdal’s mailbox has six names printed on it and will soon add a seventh: having a big family is nothing unusual in the Faroe Islands where women have the most babies in Europe despite also having the highest rate of employment. The economically prosperous and autonomous Danish territory in the middle of the North Atlantic Ocean has had the highest birth rate in Europe for decades, with around 2.5 children per woman, according to World Bank figures.
The government in Mozambique is looking to revive the cashew industry and return it to its former global prominence after it was dealt a blow 20 years ago by a controversial World Bank assistance package.
The World Bank will stop financing oil and gas exploration and extraction from 2019, Jim Yong Kim announced Tuesday at a climate summit seeking to boost the global economy’s shift to clean energy. SOUNDBITE
World Bank President Jim Yong Kim and UN Secretary General Antonio Guterres met with French President Emmanuel Macron at the Elysée on Tuesday, as world leaders gathered in Paris to talk about climate finance, two years to the day since the Paris agreement. IMAGES
Rwanda has undergone a radical transformation 23 years after some 800,000 people, mostly from the Tutsi minority, were slaughtered in a 100-day genocide. Now, the country is hoping to bring about an economic transformation too. Growth has averaged seven percent over the past two decades, poverty rates have dropped, health indicators have improved and the World Bank classes Rwanda as the second easiest African country in which to do business. But some observers are concerened about the government’s risky strategy of high public spending.
The VICE News Capsule is a daily news roundup that looks beyond the headlines. Today: Palestinian economy in shambles, using old evidence to solve rape cases in Ohio, Madagascar’s leader challenges impeachment, and 3D-printed robotic arms that won’t put a dent in your wallet.
Unemployment Rises as Conflict and Occupation Continue
World Bank reports a 43.9% rate of joblessness, with youth unemployment sitting at more than 60%.
Task Force Uses Untested Rape Kits to Bring Attackers to Justice
Its members are scrambling to build cases before the statute of limitations expires on some cases that are decades old.
President Challenges Impeachment Vote
Hery Rajaonarimampianina denies corruption allegations and says the island nation needs stability, not political wrangling.
American Teen Invents Affordable Robotic Arm
19-year-old Easton LaChappelle has designed a series of 3D printed devices that cost around $600 each.
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