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Prospects Daily: US consumer confidence falls; inflation moderated in Chile, Peru and Mexico but rose slightly in Brazil


Financial Markets…U.S. Treasuries slid for the first time in four days, with the benchmark note yields 3 basis points to 1.62%, as a government report showed U.S. employers added more than forecasted jobs in November. U.S government bonds have advanced 2.8% this year as of yesterday, after gaining 9.8% in 2011 and 5.9% in 2010.

Prospects Daily: Australia and Uganda cut policy rate, Brazil’s industrial production accelerates

Financial Markets… The euro rose to a six-week high against the dollar, appreciating to $1.3077, and Europe’s benchmark stock index (Stoxx Europe 600) gained for a second day, as growing optimism over a successful Greek buyback program boosted investor sentiment. Greece started the €10 billion ($13 billion) repurchase of government bonds maturing between 2023 and 2042 on Monday.

The East Asian Miracle 2.0

Otaviano Canuto's picture

imageAlmost 20 years ago, the World Bank released a groundbreaking report – The East Asian Miracle – that called worldwide attention to the economic success of eight economies in the region, leading to a discussion on the extent to which policies followed by them could be replicated.

Latin America 4 degrees warmer? Not cool!

Erick Fernandes's picture

También disponible en español y portugués

So you may be wondering if those scenes from the movie 2012 are not too much of a stretch after all, huh?

In the Hollywood blockbuster, apocalyptic images of rising oceans, erupting volcanoes and crumbling cities prelude the end of the world as we know it. Well, let me tell you that even though I’m not a great fan of end-of-days films –I think they oversimplify issues and de-sensitize the public-- I do believe that the world as we know it is on a path to dangerous climate change

What Does Water Look Like in a 4-Degrees World?

Julia Bucknall's picture

Turn Down the Heat report

All climate negotiations have been based on staying below 2°C above pre-industrial temperatures. Yet it looks increasingly unlikely that that will be possible. A new report, Turn Down the Heat: Why a 4°C Warmer World Must be Avoided, suggests that there is a 40 percent chance that we will reach 4°C by 2100 even if we stick to the agreed emission reduction commitments.

What does water look like in a 4°C world?

Put simply: it's complex. Water is a complicated system and one of the major impacts of climate change is the effect on the hydrological (water) cycle.  These impacts will coincide with an unprecedented increase in demand for water because of population and economic growth.

Growing the middle class

Francisco Ferreira's picture

También disponible en español

Shoppers in Chile

Since the Great Recession of 2008, there has been a widespread sense of malaise among the American middle class. Their incomes are close to stagnant, employment has not recovered, and the gap between them and the famously rich top 1% continues to grow. Look south of the Rio Grande, though, and it is quite a different picture. In the last decade, moderate poverty (under U$ 4 a day) in Latin America and the Caribbean fell from over 40% to 28%.

Prospects Weekly: Private capital flows to developing countries eased in October

Private capital flows to developing countries eased in October, but remain close to their highest level in more than a year, led by robust bond issuance by emerging market sovereigns and firms. Business sentiment has strengthened in some countries, including the US and several emerging markets, but remains weak in general amid US “fiscal cliff” and Euro Area risks.

How do Emerging Economies Achieve Economic Growth While Keeping Carbon Emissions Low?

Nicholas Keyes's picture

Brazil, China, India, Indonesia, Mexico, Poland and South Africa are among the world’s largest emerging economies. And in the past five years, all have made substantive shifts towards lower-carbon growth strategies – shifts that are still underway. In 2007, these countries represented 33 percent of global CO2 emissions. By 2010, three of them – Brazil, China and India – accounted for over 40 percent of global investment in renewable energy.  

Progress in the Corridors at the Convention on Biological Diversity

Rachel Kyte's picture

Elephants. World Bank/Curt Carnemark

Sometimes, international convention meetings can be heart-breakingly slow-moving. The Convention on Biological Diversity (CBD) – one of the three conventions born after Rio in 1992 to drive sustainable development – which has been meeting in Hyderabad in India this week, is no exception. I’ve seen tough negotiators from all corners of the Earth emerge from conference rooms wearing pained expressions.

It’s outside the negotiating rooms – where the major topic of the moment is how to mobilize the financial resources needed to meet the CBD’s ambitious Aichi Targets – where things are a lot brighter.

Cost-Effective Conservation

Rachel Kyte's picture

También disponible en español

The success of the Amazon Region Protected Areas Program (ARPA) drew a crowd here in Hyderabad at the UN Convention on Biological Diversity meeting. This effort by the government of Brazil – supported by the World Bank, the Global Environment Facility, WWF, and the German Development Bank (KfW) – is protecting almost 60 million hectares of rainforest, an area roughly the size of France and Belgium combined.

Speakers from the governments of Brazil and Germany, as well as from the GEF and foundations, all agreed that ARPA’s results are impressive: Between 2004 and 2006, ARPA accounted for 37 percent of Brazil’s substantial decrease in deforestation, and the program’s first 13 new protected areas will save more than 430 million tons of CO2 emissions through 2050.


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