Ex-World Bank chief cancels AUB, Lebanon speech

Former World Bank chief James Wolfensohn on Friday cancelled a scheduled keynote address at the American University of Beirut, amid accusations by the AUB faculty that he supported Israel.

“AUB regrets to announce that Sir James Wolfensohn, out of concern that his presence (more…)

World bank to provide Lebanon with $500 million for ecomic reforms

The World Bank plans to provide about 500 million dollars over four years to help economic reforms in Lebanon, one of the world’s most indebted countries, a senior bank official said on Wednesday. (more…)

World Bank increases voting power of developing countries in IBRD

The World Bank and the International Monetary Fund (IMF) ended their Spring Meetings in Washington, DC on Sunday, with the endorsement of an increase of developing countries’ voting power in the International Bank for Reconstruction and Development (IBRD) by 3.13 percentage points to 47.19 percent. (more…)

The Hamster That Ate The World

By Ghassan Karam
It is ironic that many in the developed world are rather pleased that the global economy in general and the developed countries in particular have experienced economic contraction over the past year.