While some may think the Sri Lanka’s cricket team did well in the recent Champion's Trophy, myself included, vigorous debates have been going on, on TV and social media and even here in our office which clearly suggests that not everyone agrees on their performance. Despite these differences in perspective, I witnessed the excitement of many of my colleagues and friends from different parts of the world as they cheered, supported opposing teams, analyzed the games, and mulled the behind the scenes politics that affect the game, and also passed judgements on winners and losers. The key point here is that for Sri Lanka to be in the top 8 internationally they had to play other countries. This analogy fits well with how economies grow and are recognized; so hold on to this thought.
Reading through the many articles in the news, be they paper, internet or just exchanges between citizens on social media, one thing is clear, there is no one unified view on how Sri Lanka is growing. While developed countries would salivate at a growth rate of 4.4 percent, in Sri Lanka it is considered below potential. Some even question if it’s growing! The result is a confusing landscape on an important issue that touches everyone in some way.
Twice a year the World Bank adds data and analyses to the many out there. We try to answer questions such as: what is Sri Lanka’s actual growth? Which parts of the economy have grown and which have not? If the country is to accelerate growth, what needs to be done? What can its people do to help? We know from cricket that the players can be excellent but if no-one cheers for them, they lose interest and cannot be successful. Eventually the game loses its luster and the competitive edge of the country’s ranking also slips. Both sides need to understand what needs to be achieved, how, by whom and when the team doesn’t quite deliver in a match, what part of the game should they change. This is what has made Sri Lanka a cricket powerhouse.
In Brazil, where I come from, we are crazy about football, so I grew up listening to football matches. At the end of a match, the reporters would interview the main scorer of the day, who would often say that he was just lucky to receive the ball at the right place.
The commentator would then say that “good luck is a combination of ability and opportunity”. This story comes to mind when thinking of India’s economy over the past two years.
India has been lucky indeed. In the fiscal year ending March 2016 (FY16), the sharp decline in oil prices generated what economists call a positive “terms-of-trade” shock, which lifted growth.
A terms-of-trade shock means that the things you buy suddenly become cheaper relative to the things you sell, allowing you to buy more things.
In the fiscal year that just ended, CSO data that was released recently shows that the good monsoons helped agriculture propel growth. Notwithstanding disruption from demonetization, agricultural wages have continued to grow, along with their purchasing power as rural inflation declined.
But India has also implemented good policies, which allowed it to take advantage of the external shocks. The government took advantage of declining oil prices to eliminate fuel subsidies and hike taxes on carbon-emitting petroleum products, a win for the environment and a win for the exchequer.
When people think about New Zealand’s most famous son, Sir Edmund Hillary, they mostly think about the quiet Auckland bee-keeper who conquered Everest in 1953.
Of course, there’s much more to the man. He raised money for the Sherpa communities in Nepal that built schools, hospitals and much more. His commitment to the people of South Asia was also reflected in his successful term in the 1980s as New Zealand’s High Commissioner to India.
As the most senior New Zealander in the management of the World Bank, I have come to appreciate Sir Edmund’s commitment to the people of South Asia and believe it shows how much New Zealand can offer the world. This will not only make the world a better place but can also help New Zealand too.
The World Bank is releasing its flagship report highlighting the state of the Indian economy, its future growth prospects, the impact of the recent currency exchange on the economy, and the benefits that the progress on the Goods and Services Tax (GST) will have moving forward.
What foreign speakers say about DYS17!
Foreign delegates to Digital Youth Summit 2017 reflect on their experiences, and the bright minds of youth in Khyber Pakhtunkhwa. Many thanks to all the foreign delegates for visiting Peshawar from May 5-7, 2017! #DYS17 #KPITB #KPGoesTech #KPWentTech Imran Khan (official)Shahram Khan Tarakai Official Khyber Pakhtunkhwa Information Technology Board - KPITB World Bank South Asia Jazz USAID Pakistan UNDP Pakistan Gloria Jean's Coffees Pakistan Anna O'Donnell Sam Bretzfield Iliana Montauk Justin Wong Alexander Ferguson Max Krueger Nicola MagriPosted by Digital Youth Summit on Thursday, May 18, 2017
Entrepreneurs and technologists from Pakistan and around the world converged last week at the Digital Youth Summit (DYS) in Peshawar to share their knowledge, inspire local talent, and bring digital investments.
Over four days, 4,000 attendees, some as young as age 10, interacted with industry leaders, engaged in technology demonstrations, and benefitted from hands-on training. Everyone learnt a lot about digital entrepreneurship and was inspired by many cutting-edge innovations.
Here are six of them that struck a high note with me:
Sessions on Facebook Live. Did you miss the summit, want to learn more about digital entrepreneurship, or simply want to relive highlights of DYS? Jazz xlr8 and OurKPK livestreamed many sessions at DYS. Inspired to start or grow your own business after watching the sessions? There are also resources to support you at the National Incubation Center and Khyber Pakhtunkhwa’s Youth Employment Program!
Travel Across Pakistan
Travel Startups that made me want to travel across Pakistan. Let’s face it, I have a serious case of wanderlust and few things make me happier than going to new places, connecting with people, and gaining insights and perspectives I was unaware of before. For people outside of Pakistan may know of it as a country full of beauty and tourism potential. However, two of the winners of DYS’s Startup Cup in which budding companies presented their products and services to prospective investors changed my perspectives. Watch these two videos made by travel platform Find My Adventure and home-sharing company Qayyam and tell me if they also inspire you to travel across Pakistan!
Shortly after the Soviet invasion in 1979, the World Bank suspended its operations in Afghanistan. Work resumed in May 2002 to help meet the immediate needs of the poorest people and assist the government in building strong and accountable institutions to deliver services to its citizens.
As we mark the reopening of the World Bank office in Kabul 15 years ago, here are 15 highlights of our engagement in the country:
- Sustainable Communities
- Urban Development
- Social Development
- Public Sector and Governance
- Private Sector Development
- Migration and Remittances
- Law and Regulation
- Labor and Social Protection
- Information and Communication Technologies
- Global Economy
- Financial Sector
- Climate Change
- Agriculture and Rural Development
- South Asia
In a previous blog we related how South Asia as a whole had improved the performance of its container ports since 2000 but had still struggled to catch up with other developed and developing regions. But within that picture, some ports did better than others.
For example, Colombo in Sri Lanka, the fast-expanding Mundra and Jawaharlal Nehru Port in India and Port Qasim in Pakistan all improved the use of their facilities in the first decade of this century. India’s Mumbai and Tuticorin were among those that fell behind. Colombo also improved its operational performance by almost halving the share of idle time at berth, while Chittagong (Bangladesh) and Kolkata (India) had the longest vessel turnaround times in the region.
Knowing how specific ports perform and the characteristics of ports that perform well and those of ports that perform poorly helps policymakers design interventions to support underperforming ports.
In the report “Competitiveness of South Asia’s Container Ports” we identified three interrelated policies to improve the performance of the container ports, a key element in one of the world’s fast-growing regions: increasing private participation in ports, strengthening governance of port authorities and fostering competition between and within ports:
The first day of the Digital Youth Summit in Peshawar saw corridors and rooms crowded with entrepreneurs and digital gurus from across the world looking to map out Pakistan’s digital future.
These young and enthusiastic innovators are helping to redefine the province of Khyber Pakhtunkhwa (KP) as an emerging technology hub, and providing substantive skills and resources for Pakistan’s youth to take advantage of digital opportunities. At the summit – sponsored by the World Bank with the Khyber Pakhtunkhwa IT Board and many other partners -- these students, entrepreneurs, enthusiastic young women and men are accessing trainings, announcements, and various forms of support to unlock new possibilities to realizing their potential.
The market for digital entrepreneurship is a multi-billion-dollar industry, growing at a rapid rate and is thirsty for young talent. These opportunities represent a shift in how we think of development—bringing the creativity and passion of tech-savvy young innovators to the forefront of social and economic change. The youth of Pakistani are well placed to be in the driver’s seat of this vibrant future.
Many countries, developed and developing, that want to become more competitive in global markets tend to jump to a quick conclusion that they need to invest more in infrastructure, particularly in transport sectors like ports. But while many regions, including South Asia, do face important infrastructure gaps, massive new investment is not the only way to improve regional competitiveness. Countries should realize that they also have significant potential to make more efficient use of the infrastructure they already have.
Building megaports all along the coast might reduce a country’s trade costs, but it also requires hundreds of millions of dollars in investment. Improving the performance of existing ports, enabling them to handle higher levels of cargo with the same facilities and in a shorter time, can be a far more cost-effective approach to reducing transport and trade costs. Closing the infrastructure gap does not just require more infrastructure, but also better infrastructure, and better use of existing infrastructure.
The report Competitiveness of South Asia’s Container Ports, which we launched today, provides the first comprehensive look at the 14 largest container ports in South Asia, which handle 98 percent of the region’s container traffic. It focuses on port performance, drivers, and costs.
This year, perhaps even more than in previous years, I am very excited to come to DYS for two main reasons.
First, since its inception in 2014, the Digital Youth Summit has become one of the premier technology conferences in Pakistan. Back in 2014, we got some skeptical responses to the idea of holding a tech conference in Peshawar. National speakers were hesitant to make the trip to Peshawar. Security restriction on international travel were in place for KP up to a week before the event. Several international speakers dropped out because of difficulties getting visas.
But in 2014, the first Digital Youth Summit came on the tech scene, redefining Khyber Pakhtunkhwa as an emerging digital economy. The event brought together local and international participants (some attending their sessions by videoconference) to deliberate on supporting the growth of nascent ecosystems. Local youth showed up, curious about how the internet is shaping jobs of the future. I met one young woman who had traveled on an overnight bus with her child and sister just to learn more about what it means to work online. She told me excitedly that she could not wait to begin her new internet based career. And for the international speakers who made it, the hospitality and warmth of Khyber Pakhtunkhwa reshaped their views of Pakistan.
Fast forward three years to DYS 2017. DYS has become an established event in Pakistan’s tech community. It has provided an international platform to showcase the vibrancy and enthusiasm of Khyber Pakhtunkhwa as it embraces the digital economy. And while it continues to identify with its core objective—to raise awareness among youth—it has also become a platform for Pakistan’s tech community to deliberate the growth of tech entrepreneurship, the future of digital payments, and how to promote Pakistan’s digital transformation. The commitment and presence of the Government, as well as participation of a wide range of international experts, complements each panel discussion. But it is the enthusiasm and excitement of the youth that gives the event its signature energy and vibrancy.