The International Monetary Fund has upgraded its forecast for China's economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth.

The IMF's report, issued late Tuesday, said the world's second-largest economy will likely expand at a 5% annual rate this year, based on its growth in the first quarter and recent moves to support the property sector. That is a 0.4 percentage point above its earlier estimate.

A senior U.S. Treasury official is in Kyiv this week to talk with government officials about U.S. financial support for Ukraine, efforts to tighten sanctions on Russia and plans to use immobilized Russian sovereign assets for the benefit of Ukraine as it fends off Russian forces.

Deputy Secretary Wally Adeyemo's trip comes as Russia gains territory on the battlefield after an especially lengthy delay in U.S. military aid left Ukraine at the mercy of Russia's bigger army and as the outlook for Ukraine's state finances is on shakier ground.

The Swedish government said Wednesday that it will donate 13 billion kronor ($1.23 billion) in military aid to Ukraine, in the largest package of assistance Sweden has so far donated.

"It consists of equipment that is at the top of Ukraine's priority list," Deputy Prime Minister Ebba Busch said. It includes air defense, artillery ammunition and armored vehicles.

North Korea flew hundreds of trash-carrying balloons toward South Korea in one of its most bizarre provocations against its rival in years, prompting the South's military to mobilize chemical and explosive response teams to recover objects and debris in different parts of the country.

The ballooning campaign came as North Korean leader Kim Jong Un urged his military scientists to overcome a failed satellite launch and continue developing space-based reconnaissance capabilities, which he described as crucial for countering U.S. and South Korean military activities, state media said Wednesday.

Belgium's federal prosecutor's office said on Wednesday that police carried out searches at the residence of an employee of the European Parliament and at his office in the Parliament's building in Brussels over suspected Russian interference.

Prosecutors said in statement that the suspect's office in Strasbourg, where the EU Parliament's headquarters are located in France, was also searched in partnership with the EU's judicial cooperation agency, Eurojust, and French judicial authorities.

Spanish Prime Minister Pedro Sánchez met with Palestinian Prime Minister Mohammad Mustafa and leading officials from several Middle Eastern countries in Madrid on Wednesday after Spain, Ireland and Norway recognized a Palestinian state.

The diplomatic move by the three western European nations on Tuesday was slammed by Israel and will have little immediate impact on its grinding war in Gaza, but it was a victory for the Palestinians and could encourage other Western powers to follow suit.

The emir of Qatar is looking to invest in energy and high-tech in Cyprus — projects seen as having a strong economic potential, a Cypriot official said.

Sheikh Tamim bin Hamad Al Thani, who visited the east Mediterranean island nation on Tuesday for the first time, is also interested in investing in Cypriot ports and banking institutions, the official said.

Algeria is circulating a proposed U.N. Security Council resolution that would demand an immediate cease-fire in Gaza and order Israel to halt its military offensive in the southern city of Rafah immediately.

The draft resolution, obtained Wednesday evening by The Associated Press, also demands that the cease-fire be respected by all parties. It also calls for the immediate release of all hostages taken during Hamas' attack in southern Israel on Oct. 7.

After the International Criminal Court's top prosecutor sought arrest warrants for Israeli Prime Minister Benjamin Netanyahu, his defense minister and top Hamas officials, the Israeli leader accused him of being one of "the great antisemites in modern times."

As protests roiled college campuses across the United States over the Gaza war, Netanyahu said they were awash with "antisemitic mobs."

Israeli shelling and airstrikes killed at least 37 people, most of them sheltering in tents, outside the southern Gaza city of Rafah overnight and on Tuesday — pummeling the same area where strikes triggered a deadly fire days earlier in a camp for displaced Palestinians — according to witnesses, emergency workers and hospital officials.

The tent camp inferno has drawn widespread international outrage, including from some of Israel's closest allies, over the military's expanding offensive into Rafah. And in a sign of Israel's growing isolation on the world stage, Spain, Norway and Ireland formally recognized a Palestinian state on Tuesday.