World Bank

Regional News • Americas • South America
Peru's Congress appoints Francisco Sagasti as the next president
Francisco Sagasti
Francisco Sagasti Credit: Feria del Libro Ricardo Palma (Creative Commons Attribution 2.0)

Peruvian lawmaker Francisco Sagasti is set to become the country's next interim president. The 76-year-old engineer, academic and former World Bank official is expected to be Peru's fourth president in less than five years -- and the second one in less than a week.

Activists, opposition parties and civil society groups who saw former President Martin Vizcarra's ouster as a legislative coup refused to recognize the new leader.

Business • Economy
World Bank: further 150 million people face extreme poverty by 2020
World Bank Headquarters, 2013
World Bank Headquarters, 2013 Credit: World Bank (Creative Commons Attribution 2.0)

The Coronavirus pandemic could push as many as 150 million people into poverty by 2022, living on less than $1.90 a day, the World Bank said Wednesday. The number is depending on the severity of the economic impact of Coronavirus. Regions most affected will be countries in South Asia and sub-Saharan Africa. Poverty will also affect more educated and urban residents.

Regional News • Americas • Brazil
Brazil's Education Minister steps down
Abraham Weintraub, former Education Minister
Abraham Weintraub, former Education Minister Credit: Marcelo Camargo/Agência Brasil

Brazilian Education Minister Abraham Weintraub on Thursday announced he was stepping down to take a role at the World Bank.

Weintraub, a fervent ideological defender of far-right President Jair Bolsonaro, made his announcement in a short video posted to his Twitter page, reading from a prepared statement and then hugging the president.

In recent days Brazilian news sources speculated Weintraub was about to be fired, particularly after his comments about the Supreme Court. The court is currently overseeing a series of potentially explosive investigations involving Bolsonaro and his inner circle, and tension has soared between the president and its justices.