Our daily trek around the world

🌎🏦 World Bank President David Malpass announced plans to step down in June. Malpass’ resignation, which will occur nearly a year ahead of his term’s expiration date in April 2024, gives President Biden an opportunity to install a new leader at the World Bank, since the US is its largest shareholder. The World Bank is made up of 187 member-nations who collectively lend billions of dollars to poorer countries each year, in an effort to eliminate poverty and encourage international trade.

🇪🇸 Spain officially approved the first-ever law in Europe allowing for paid menstrual leave. The measure allows for a paid leave of absence of between three and five days for women who obtain a doctor’s note confirming they suffered from incapacitating period symptoms. The menstrual leave bill was part of a broader package that, among other things, provides all Spaniards with free period products in schools and prisons, and allows citizens aged 16+ to legally change their gender without needing a doctor to diagnose them with gender dysphoria.

🇵🇹 Portugal is ending its “golden visa” program for new foreign property-buyers amidst rising prices. The country’s golden visas were implemented a decade ago for non-EU nationals as part of an effort to fix the country’s public finances, following a 2011 bailout from the EU and IMF. Since then, Portugal has raised an estimated $7.3 billion from nearly 12,000 golden visas, each of which requires the holder to do one of three things: invest at least $350,000 in property, create at least ten jobs in Portugal, or pay $1.5 million.