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Global Economy

Helsinki in the winter? It’s for a good cause

Toni Kristian Eliasz's picture
Last month, we returned to Slush, a global start-up conference in Finland. During a dinner discussion, a colleague from Boston Consulting Group mentioned that only a few years ago a C-level executive would have been considered an oddball among the mostly young start-up entrepreneurs. But today, one would need to justify why top management is not paying attention. The conference even chartered a plane full of Silicon Valley investors to join 17,000 other participants in gloomy Helsinki.

The 2017 edition of International Debt Statistics is out

World Bank Data Team's picture

The 2017 edition of International Debt Statistics has just been published.

IDS 2017 presents statistics and analysis on the external debt and financial flows (debt and equity) for the world’s economies for 2015. This publication provides more than 200 time series indicators from 1970 to 2015 for most reporting countries. To access the report and related products you can:

This year’s edition of International Debt Statistics been reconfigured to offer a more con­densed presentation of the principal indicators, along with additional tables showcasing quar­terly external debt statistics and public sector debt to respond to user demand for timely, comprehensive data on trends in external debt in low middle and high income coun­tries.

By providing comprehensive and timely data that reflects the latest additions and revisions, and by expanding the scope of the data available online, we aim to serve the needs of our users and to reach a wider audience.

Join Sri Lanka’s journey to end poverty and promote prosperity

Idah Z. Pswarayi-Riddihough's picture

A 90 day reflection of the new Country Director of the World Bank
Join Sri Lanka's journey to end poverty and promote prosperity

I take this opportunity to thank all the Sri Lankans that opened their minds and hearts to help me understand the country context and constraints. During my first 90 days in Sri Lanka my colleagues and our clients gave me a warm welcome. I first met our core counterparts in the Government of Sri Lanka when I visited in July 2016. I have since travelled outside of Colombo several times, and I have met with many of our clients, development partners and stakeholders.  I have also had the privilege to meet with our friends from the media, civil society groups, academia and private sector to better understand the current operating environment and discuss solutions to issues of common interest.

Cricket in Sri Lanka is followed with so much passion and enthusiasm. This thrilled me as it is the same in my home country, Zimbabwe. Many things about Sri Lanka and its people and culture bring back fond memories from home.  Sri Lanka to me now is a second home so I am often torn with who to support when Sri Lanka plays Zimbabwe.  It’s even harder to know how to react when Sri Lanka beat Zimbabwe recently.

I recently read an article by Kumar Sangakkara on the Spirit of Cricket.  What an apt article.  It just demonstrated so much what one can do when they find a common thread that they are all passionate about.  Sri Lanka has many lessons to teach and to learn from the game of cricket.

I join my view into that of the article, that all Sri Lankans will need to work together regardless of location, gender, ethnicity, religion, political affiliation and social status. The focus should be on Sri Lanka’s priorities for development and how the Sri Lankan people can work together to win the match of ending poverty and sharing prosperity.

International trade and integration: The latest research

Alejandro Forero's picture

What’s the latest research in international trade and integration? Researchers from the World Bank, the IMF and the WTO recently gathered for a one-day workshop to present their latest research on the topic. The papers presented addressed topical questions in areas as diverse as the links between trade, wage inequality and the poor, global value chains, non-tariff measures, preferential trade agreements, FDI restrictions, and migration. We provide a quick roundup on the papers presented during the workshop.

Cash for peace? How sharing natural resource revenues can prevent conflicts

Tito Cordella's picture

Some countries are blessed with natural resources, others are cursed. It’s been said that all the blessed ones are alike, they put the resources to good use, improving the people’s welfare in a sustainable manner. And for the cursed? More often than not, they struggle with political violence, especially when ethnic or religious fragmentation and weak institutions are a concern. Not surprisingly, it was Venezuela’s former Development Minister and OPEC Founder Perez Alfonso who christened oil the “Devil’s excrement.” 

If natural resources could be the source of such evil, are there ways of “exorcising” them? Perhaps policymakers could try to prevent or resolve resource-related conflicts by sharing natural resource wealth with opposition groups or directly with the people. Would such a counter spell work?

Can mobile money increase investment by businesses?

Asif Islam's picture

Investment is one of the pillars of private sector development. The acquisition of assets enables firms to increase their capacity and improve their efficiency, unlocking avenues of growth. Promoting firms’ growth is especially critical in Sub-Saharan African countries that have predominantly low levels of economic development and high rates of poverty. Against this backdrop, there has been a rapid increase in mobile money use - that is the use of mobile phones for financial transfers. At the end of 2015, mobile money services were available in 93 countries -with a total of over 411 million registered accounts and 134 million active users (GSMA, 2015). Many of these users are firms that increasingly rely on mobile money to pay bills, suppliers, and salaries or to receive payments from customers. While numerous advantages of the permeation of mobile money has been explored,  including lower transaction costs, little research has been done to investigate the far-reaching benefits that lowering transaction costs could entail, such as increasing firm investment. To fill this void, we recently completed a study on the effect of mobile money use on firm investment in three countries – Kenya, Tanzania and Uganda.

Introducing a cultural trade index

Patrick Kabanda's picture

A few years ago, when Craigslist was just “The List,” a friend circulated an ad posted on Craigslist Vancouver.  It went like this:
 
We are a small & casual restaurant in downtown Vancouver. We are looking for solo musicians to play in our restaurant to promote their work and sell their CD. This is not a daily job, but only for special events, which will eventually turn into a nightly event if we get positive response. More jazz, rock, & smooth-type music around the world and mixed cultural music. Are you interested in promoting your work? Please reply back ASAP.
 
And one of the responses received was:
I am a musician with a big house looking for a restauranteur to promote their restaurant and come to my house to make dinner for my friends and me. This is not a daily job, but only for special events, which will eventually turn into a nightly event if we get positive response. More fine dining & exotic meals and mixed ethnic fusion cuisine. Are you interested in promoting your restaurant? Please reply back ASAP.
 
It’s perhaps unfair to conclude that the restauranteur didn’t mean well.  But what does this exchange suggest?  How are the arts normally valued, consciously or unconsciously, in our social order?

To skip or not to skip (the grid): larger and smaller energy PPPs

Philippe Valahu's picture



I recently took part in #skipthegrid, a social media forum about renewables, which has led me to ask: “Is off-grid the way of the future for energy Public-Private Partnerships (PPPs) in lower-income countries?”

At the Private Infrastructure Development Group (PIDG) we are supporting smaller, off-grid projects in the lowest income countries in Sub-Saharan Africa and South and Southeast Asia by mobilizing private investment for the provision of power to commercial off-grid properties and the construction of mini-grids.

The Russian economy inches forward

Apurva Sanghi's picture

During the four months that I have been based in Moscow, one truism about Russia has stood out for me: There is a hunger to know what “truly” goes on in the world’s largest country (by area) and its economy. So any report we publish on Russia gets a lot of attention, and our latest Russia Economic Report is no exception. While we analyzed and discussed many economic issues, here are three noteworthy ones.

Improving fairness, opportunity and empowerment: A view from the South Caucasus

Genevieve Boyreau's picture
I was quite intrigued by the findings of the latest Europe and Central Asia Economic Update, with its special focus on "Polarization and Populism". As Program Leader for the South Caucasus region, covering Azerbaijan, Armenia and Georgia, I was particularly interested in the fact that these three countries report the highest levels of life and job dissatisfaction, despite declining disparities and overall income improvement in the region (in Georgia, for instance). Indeed, using the World Bank’s "twin goal” metrics, the South Caucasus region has been performing reasonably well.

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