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July 2011

How Risky, Really, Is the Arab World for Investors? Take Two.

Paul Barbour's picture

In June 2010 I posted a blog on political risks for investors in the Arab worldThe blog (and associated Perspectives note) argued that it was probably a mistake to lump all Arab countries together, and that risks were idiosyncratic among nations. Overall, the note reflected the view at the time that most investors were fairly sanguine about the risks in the Arab world.

In retrospect of course, we have all been found out following the events that started in Tunisia in January and spread across the region. This week MIGA hosted a panel discussion on ‘Investment Opportunities in the Wake of the Arab Spring’ to try and take stock of these events and consider their implications for investors. 

I Still Remember Cyclone Sidr…

Naomi Ahmad's picture

“I still remember Cyclone Sidr in 2007,” said Hasina Begum, Headmistress of Paschim Napitkhali Primary School in Barguna, Bangladesh.

She fell silent, her face slowly crumpling up - the shadows in her dark eyes gathering into deep pools of sadness.

“There were warnings, but nothing could really prepare us for what happened. Cyclone Sidr hit my hometown, Barguna with ferocious intensity. Powerful gusts of winds and heavy rainfalls frightened the helpless people, many of whom had left their homes and processions to seek the protection of cyclone-shelters, like my school.”

The Paschim Napitkhali Primary School, a non-descript two storied building had played a life-saving role in 2007, when Barguna and other coastal regions were hit hard by the storm surge of over 5 meters (16 ft). Initially established by Hasina’s father, the school was later rebuilt and converted into a school-cum-cyclone-shelter. During the year, the primary school bustles with children – but during cyclones and other natural disasters, the building doubles up as a shelter. In 2007, this cyclone-shelter alone had helped save more than 800 people.

Prospects Weekly: European heads of state agreed on financial package for Greece today

Global Macroeconomics Team's picture

European heads of state agreed on a €109 bn second financial package for Greece today. About one-third of the financing will be covered by debt swaps or rollovers by private bondholders. Aside from improving the terms of existing multilateral loans, the leaders also agreed to expand the European Financial Stability Facility’s mandate, including authority to buy bonds on the secondary market.

Open Data Is Not Enough

Raka Banerjee's picture

Since its inception, the World Bank’s Open Data initiative has generated considerable excitement and discussion on the possibilities that it holds for democratizing development economics as well as for democratizing the way that development itself is conducted around the world.  Robert Zoellick, in a speech given last year at Georgetown University, expounded on the many benefits resulting directly from open data.  Offering the example of a health care worker in a village, he spoke of her newfound ability to “see which schools have feeding programs . . . access 20 years of data on infant mortality for her country . . . and mobilize the community to demand better or more targeted health programs.”  Beyond this, Zoellick argued that open data means open research, resulting in “more hands and minds to confront theory with evidence on major policy issues.”

The New York Times featured the Bank’s Open Data initiative in an article published earlier this month, in which it referred to the released data as “highly valuable”, saying that “whatever its accuracy or biases, this data essentially defines the economic reality of billions of people and is used in making policies and decisions that have an enormous impact on their lives.”  The far-reaching policymaking consequences of the data are undeniable, but the New York Times touches upon a crucial question that has been overshadowed by the current push for transparency: what about quality? 

Who's Talking About Learning for All? A Round Up

Christine Horansky's picture

In the months since we released our new Education Strategy 2020, we have been happy to see many of our development partners and counterparts talking about "learning for all," our new mantra that promotes global efforts to ensure all children, everywhere, are in school and learning. (See "Let's Make it Learning for All," for more from our Education Director Elizabeth King.) Here's a round up from our partners. Check out their great blogs below...

Making an Impact in Education, USAID Impact Blog, by David Barth 

The New Education Strategy at the World Bank, Time for a Millennium Learning Goal? Center for Global Development, by Nancy Birsdall

From Education for All to Learning for All, PREAL Inter-American Dialogue

Global High-Tech City Model

News story by Hannah Bae, Seoul

Near Seoul, a new city rises from the mud flats, aiming to become a world model of sensor-activated, computer-driven management of an entire city.

New construction in Songdo, South KoreaSONGDO, South Korea – Designed as a “city within a city” – in this case, the port city of Incheon, just west of South Korea’s capital in Seoul – the Songdo urban development is expected to become a bustling hub of efficient global commerce, education and research and development.

What happens when you build a city from scratch – or, rather, from mud flats?

The result isn’t instantaneous.  Right now – the spring of 2011 – the reality, following more than $10 billion of the estimated eventual $35 billion invested over seven and a half years of construction, is clusters of skyscrapers amid a giant construction site, only just starting to show signs of life. 

However, 2011 will be a big year for Songdo, as the city takes major steps toward becoming one of the most technologically advanced urban spaces in the world.


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