Mr. Banga’s appointment to a five-year term was confirmed on Wednesday by the World Bank.
Author: Alan Rappeport
Everything You Need to Know About the Debt Ceiling
Congress controls how much money the United States can borrow. Here’s a look at why that is and what it means.
U.S. Could Run Out of Cash by June 1, Yellen Warns
Janet L. Yellen, the Treasury secretary, called on Congress to raise or suspend the debt limit so the United States could continue paying its bills.
F.D.I.C. Proposes Broadening Bank Insurance for Businesses
The recommendations followed concerns that fueled a run on several banks.
Pressure Mounts on China to Offer Debt Relief to Poor Countries Facing Default
There was optimism at the spring meetings of the I.M.F. and World Bank that China will make concessions over restructuring its loans.
IMF Lowers Growth Outlook Amid Financial System Tremors
The International Monetary Fund says a painful slowdown, which could include a recession, has become a bigger risk for the global economy.
I.R.S. Unveils $80 Billion Plan to Overhaul Tax Collection
The 10-year strategy document outlines a focus on taxpayer services and enforcement efforts on the rich.
Lobbyists Begin Chipping Away at Biden’s $80 Billion IRS Overhaul
The tax preparation industry is alarmed over the prospect that the Internal Revenue Service will devise its own free tax-filing system.
Global Economy May Be in a ‘Lost Decade,’ World Bank Warns
Adding to crises like the pandemic, recent stress in the banking system is a new threat to world growth, experts at the organization said.
U.S. Is Ready to Protect Smaller Banks if Necessary, Yellen Says
The Treasury secretary pledged that the Biden administration would take additional steps as needed to support the banking system.