Shafik, who was born in Egypt and grew up in the United States, has extensive experience across global financial institutions and higher education.
Climate activists have never liked Trump-appointed World Bank President David Malpass. But this week, his comments on climate change fueled calls for President Biden to make a change.
A roundup of key developments and the latest in-depth coverage of Russia's invasion of Ukraine.
Meanwhile, the Russian economy is expected to contract by some 11% this year as a result of sanctions, and several other countries in the region are projected to fall into recession.
The development lending institution urges governments to lift restrictions on trade and services and to end fossil fuel subsidies to encourage adoption of more green energy technologies.
Rodrigo Chaves wins an election that political analysts said was marked by a lack of voter enthusiasm due to the multitude of personal attacks that characterized the campaign.
Dr. Wahid Majrooh tells NPR that "If I am hesitant and doubtful now it won't help anyone, and people in need of care will be the first to be affected."
A new study finds that girl-centric programs may not be the only effective way to boost girls' school performance in low-income countries.
As she takes the helm of the World Trade Organization, the former Nigerian finance minister faces challenges from COVID-19 response to navigating trade frictions between the U.S. and China.
TV correspondents and pundits spoke it, Twitter users typed it. They said the insurrection in the U.S. Capitol on Wednesday was what happens in "Third World" countries. There's a problem with that.
The financier is credited with transforming the World Bank. Among his reforms, he is said to have given "voice to the poor and magnify the impact of development investments."