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cryptoslate.com

South African central bank mulls digital rand to streamline cross-border payments

The South African Reserve Bank is mulling the issuance of a digital rand, Reuters reported on May 18, citing the central bank’s Deputy Governor Kuben Naidoo. Naidoo said a digital rand could significantly cut the cost of cross-border payments for banks. However, he added that the central bank is still years away from introducing the digital rand.
ECONOMY
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uschamber.com

World Bank Aims to Hone Business Environment for the Digital Age

As the global economy begins to recover from the pandemic and the shock of the war in Ukraine, many businesses in the U.S. and abroad are experiencing strong headwinds. We heard serious concerns from business leaders and politicians all through the Chamber’s Global Forum on May 10-11, 2022. Governments everywhere are crafting responses to multiple overlapping challenges and trying to align their actions with the longer-term trends like the green transition and digital inclusion. Spurred on by these challenges, the worrying trend of global market fragmentation is creating obstacles to the cross-border flow of capital, goods, services, ideas, and technologies as countries increasingly form economic blocs.
ECONOMY
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US News and World Report

Ukraine Says It Gets $530 Million in U.S., UK Grants From World Bank Fund

KYIV (Reuters) - Ukraine has received roughly $530 million in U.S. and British grants from a fund set up by the World Bank for donations to the Kyiv government in the wake of Russia's invasion, the finance ministry said. The U.S. donated around $500 million and Britain 24 million pounds...
CHARITIES
US News and World Report

Guatemalan Congress Approves $500 Million Loan From World Bank

GUATEMALA CITY (Reuters) - Guatemala's congress approved on Wednesday a $500 million loan from the World Bank that the government has said will be used to pay down debt, freeing up funds for social spending. The loan was supported by the government and its allies and passed with 86 votes...
U.S. POLITICS

UN urges Ukraine grain release, World Bank pledges extra $12 bn

The UN warned Wednesday that a growing global food crisis could last years if it goes unchecked, as the World Bank announced an additional $12 billion in funding to mitigate its "devastating effects." The World Bank's announcement will bring total available funding for projects over the next 15 months to $30 billion.
WORLD
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