Latest economic report upgrades Russia's GDP estimate for 2022 as high energy prices provide windfall, but cumulative effects of punitive measures to grow

UN's COP27 summit in Egypt in November, which Israel plans to attend, hopes to push for more international funding to help region deal with imminent dangers

In report, financial institution notes rapid vaccination campaign, quick measures taken by government and central bank, but says challenges persist

The 190-country lending agency predicts the global economy will expand 4.4% in 2022, down from the 4.9% it was forecasting just a few months ago

As US freezes aid and Europe threatens to do the same, country's gains in stabilizing the economy and moving toward the West could be reversed, analysts warn

In report, financial institution warns of 'daunting challenges' still ahead, since vaccinations are not being administered at the same pace around the globe

Financial institution report says countries with high vaccination rates will fare better than those without; war-torn nations further hurt by a delayed inoculation rollout

A budget would help prioritize spending, prepare economy for growth; steps taken to stem pandemic's economic fallout have been 'appropriate,' but risks remain 'unprecedented'

Yet organization notes that all countries except Lebanon and Oman are expected to see economic growth next year

Antonio Guterres says up to 1.6 billion could be left destitute, $8.5 trillion wiped out of global output; US and China absent from video conference on world economy