Following Russia’s annexation of Crimea after the popular voting in early March, the European Union and recently the U.S. and Canada have imposed their first round of sanctions—an asset freeze and travel ban on some officials in Russia and Crimea. This week NATO's foreign ministers, warning that Russian troops could invade the eastern part of Ukraine swiftly, ordered an end to civilian and military cooperation with Russia. Should the crisis escalate, potential fallout on Middle East and North Africa (MENA) countries is likely. The effects would be transmitted directly through trade and indirectly through commodity prices.
Although the World Bank collaborates with international agencies that work with external debt and debt-related statistics (the Bank for International Settlements (BIS), the International Monetary Fund (IMF), the Organisation for Economic Co-operation and Development (OECD) and others), the World Bank has the international mandate to collect external debt data, and we maintain comprehensive external debt information.
Laura Tuck, Vice President for the World Bank's Europe and Central Asia region, discusses her trip to Poland, its economy, progress in boosting shared prosperity, and the World Bank's partnership with the country.
I was recently at a conference in Lahore, Pakistan sponsored by the International Growth Centre where the keynote address was given by Shahbaz Sharif, the Chief Minister of the province of Punjab, Pakistan (100+ million people). While fun to see old friends and colleagues, the conference was a little depressing in the way it reflected the state of the development economics profession.
The Chief Minister posed serious questions that have traditionally been the bread and butter of the economics profession. Unfortunately, we are not even trying to answer them any more. The specific question was “Should I put more money into transport? Infrastructure (power, roads, water)? Law and order? Social services? Or what? And where am I going to get the money?” What questions could be more solidly part of the core of economics than these? Unfortunately none of these were even remotely the focus of the “evidence-based” policy making discussed.
We know that numbers are useful. We rely on them to analyze global economic trends, but also to count calories, create passwords, manage schedules and track our spending. Numbers give order to the chaos of our lives. And that means we can use numbers to reflect, learn, and re-discover ourselves.
We’ve launched a new YouTube series called ‘My Favorite Number,’ that shows how a single digit can give us unique insight into global development and humanity. A number can have a profound effect on human lives.
When it comes to primary education, there are many reasons to be optimistic. Enrollment has jumped across the world, and more children are in school than ever before. In the last decade, the number of out-of-school children has fallen by half, from 102 million in 2000 to 57 million in 2011.
But is showing up to school enough?
According to UNESCO’s Education for All Global Monitoring Report, almost one quarter of the youth in the developing world cannot read a sentence. In countries with large youth populations, this can leave behind a crippling ‘legacy of illiteracy’. Despite almost universal primary enrollment in India – 97 percent – half of second grade students cannot read a full sentence, and almost a quarter cannot even recognize letters.
Reading is a foundational skill. Children who do not learn to read in the primary grades are less likely to benefit from further schooling. Poor readers struggle to develop writing skills and absorb content in other areas. More worryingly, learning gaps hit disadvantaged populations the hardest, limiting their economic opportunities. In Bangladesh, only one in three of the poorest quartile is literate, compared to almost nine out of ten in the richest.
Part of the World Bank’s new vision is to step up its efforts to help fragile and conflict-afflicted states break the vicious cycle of poverty. But this is no easy task.
The destruction of productive assets and the restrictions on the capacity to produce are among the most severe economic impacts of conflicts and fragility. These effects explain why countries in conflict or emerging out of conflict typically have very large trade deficits. The productive sector is often particularly weak by international standards, so exports are low and domestic consumption has to rely on imports. Indeed, five of the ten countries with the largest trade deficit in the world (Timor-Leste, Liberia, the Palestinian territories, Kosovo and Haiti) are considered fragile by the World Bank and other regional development banks (figure 1).
- états fragiles
- fragile states
- fragile and conflict affected states
- Private Sector Development
- Global Economy
- Financial Sector
- Climate Change
- Agriculture and Rural Development
- The World Region
- South Asia
- Middle East and North Africa
- Latin America & Caribbean
- Europe and Central Asia
- East Asia and Pacific
- Yemen, Republic of
- Syrian Arab Republic
- South Sudan
- Solomon Islands
- Sierra Leone
- Micronesia, Federated States of
- Marshall Islands
- Cote d'Ivoire
- Congo, Democratic Republic of
- Central African Republic