Syndicate content

Europe and Central Asia

Three Pillars for Prosperity in Montenegro

Željko Bogetic's picture

Over the last decade Montenegro has trebled its gross national income (from $2,400 in 2003 to $7,160 in 2012), has reduced its national poverty headcount from 11.3 percent in 2005 to 6.6 percent in 2010, and enjoys the highest per capita income among the six South East European countries.

Despite this considerable progress, however, Montenegro remains a country in need of a new economic direction. The global financial crisis has exposed Montenegro’s economic vulnerabilities and has called into question the country’s overall growth pattern. The period between 2006 and 2008 was characterized by unsustainably large inflows of foreign direct investments (FDI) and inexpensive capital, which fueled a domestic credit consumption boom and a real estate bubble. When the bubble burst in late 2008 and in 2009 real GDP shrank by almost 6 percent, triggering a painful deleveraging and a difficult recovery that is not yet complete. With the base for Montenegro’s growth narrowing and the country’s continued reliance on factor accumulation rather than productivity, it has become clear that this old pattern cannot deliver the growth performance seen just a few years ago.
 
So, what kind of growth model can drive Montenegro’s next stage of development in the increasingly competitive environment of today’s global economy?
 
As spelled out in the recent report “Montenegro – Preparing for Prosperity” this country can go a long way toward returning to the impressive economic gains it was making just a few years ago by emphasizing three critical areas of development: sustainability, connectivity, and flexibility.
 

Jim Yong Kim: Countries Need to Invest in Education

Jim Yong Kim's picture

I recently visited a math classroom in Frumusani, Romania, where half of the students are Roma. It's critically important for all countries to invest in education in order to stay competitive in the global economy. That means education for all, including communities such as the Roma that have long faced discrimination. Please watch the video to hear more.

Tax Lessons From Peers

Munawer Sultan Khwaja's picture

Read the first of this two-part blog post here.

The idea of a peer learning network for tax administrators came when I realized that tax authorities in different countries had many of the same questions: How do we initiate risk management? How are other countries dealing with compliance issues? How do countries ensure speedy VAT refunds and yet prevent fraudulent claims? And so on.

So why not get the tax officials from different countries together and provide a platform to discuss their challenges, experiences and innovative ways of solving problems. Mix them with a dose of tax experts from developed tax systems, et voila! That’s how TAXGIP (Tax Administrators eXchange for Global Innovative Practices) was born – it provides opportunities to exchange knowledge and good practices, and share experiences.
 

Mapping the Kyrgyz Republic’s Poverty Distribution

Sarosh Sattar's picture
















A significant share of the population in the Kyrgyz Republic – 37 percent – lived below the poverty line in 2011, according to the latest available data. And despite a relatively modest population of about 5.5 million, poverty rates across oblasts (provinces) span a striking range -- from 18 percent to 50 percent.

Why? Well, that is a surprisingly difficult question to answer.  

Forum sonrası ormanların görünümü

Peter Dewees's picture
Also available in: English

Birkaç hafta önce İstanbul’da gerçekleştirilen Birleşmiş Milletler Orman Forumu’nun 10. Oturumunun açılışı ve Türkiye Başbakanı Recep Tayyip Erdoğan’ın orman kaybının durdurulması konusunun ciddiye alınması yönünde küresel topluluğa yaptığı ateşli çağrı ile ilgili bir blog yazısı yazmıştım. Başbakan Erdoğan bu çağrıyı alışılmadık bir şekilde iklim değişikliği veya biyolojik çeşitlilik kaybı ile ilgili endişelere herhangi bir atıfta bulunmadan yapmıştı; bunun yerine basit bir şekilde “bunu ahlaki sorumluluk gereği gerçekleştirmemiz gerekiyor” demişti.
 
Erdoğan konuşmasında "İnsanlığın karşı karşıya olduğu küresel tehditler ‘bana ne başkasından’ deme lüksünü ortadan kaldırıyor’” demiş ve eklemişti: “Biz sadece gövde taşıyan, gövdesinin üzerine kafa, o kafanın içinde beyin taşıyan fizyolojik varlıklar değiliz. Biz kalp, ruh ve vicdan taşıyoruz.”
 
Peki günlerce süren tartışmaların ve müzakerelerin sonucunda BM Forumu neyi başardı? Forum, Erdoğan’ın çağrısına karşılık verdi mi?
 
Her ne kadar bunu hemen görmek mümkün olmasa da, bu soruların cevabı tek kelime ile “evet”. Parantez içinde ifade edilen  metnin neticede daha açık bir anlayışa ve somut eyleme yol açtığı bu tip müzakerelerde görüşlerin birbirine yavaş bir şekilde yakınlaşması her zaman belirgin bir şekilde gözlemlenemeyebilir.

The Landscape for Forests after the Forum

Peter Dewees's picture
Also available in: Türkçe

A couple of weeks ago, I blogged about the opening of the 10th Session of the United Nations Forum on Forests, in Istanbul, and Turkish Prime Minister Recep Tayyip Erdoğan’s impassioned challenge to the global community to get serious about stopping the loss of forests. Unusually, he did this without reference to the usual concerns about climate change or biodiversity loss, but instead quite simply said – we have a moral responsibility to stop this.

"The global threats which humanity faces eliminate the luxury of saying, ‘What do I care?’” Erdoğan said. “We are not only creatures of bodies, heads, and brains. We carry hearts, we carry souls, and we carry a conscience.”

So what did the UN Forum accomplish after days of discussions and negotiations?  Did the Forum rise to Erdoğan's challenge?

Fighting Black Carbon as Oceans & Temperatures Rise

Rachel Kyte's picture

Scripps Institution of OceanographyLast week, the Scripps Institution of Oceanography released data showing that CO2 atmospheric levels had briefly passed 400 parts per million (ppm) and were close to surpassing that level for sustained periods of time. This is bad news. At 450 ppm, scientists anticipate the world will be 2 degrees Celsius warmer than pre-industrial times, and world leaders have agreed that’s a point of dangerous consequences.

Along with this grim news came important new research findings from Professor V. Ramanathan of the Scripps Institution at the University of California, San Diego, and other researchers regarding short-lived climate pollutants – black carbon, methane tropospheric ozone and some hydrofluorocarbons (HFCs). While we continue – and must continue – to hammer away at reducing CO2 emissions, their work supports the argument that also reducing these short-lived climate pollutants (SLCPs) can have an immediate effect on slowing warming and the resulting sea-level rise.

The Many Faces of Corruption in the Russian Federation

Gregory Kisunko's picture

"No single national score can accurately reflect contrasts in the types of corruption found in a country." Michael Johnston, 2001

Corruption comes in various forms - administrative corruption being one example, state capture (a.k.a. “grand corruption”) being another. Although administrative corruption is not necessarily the most damaging form for economic growth and private sector development in Russia, and while its occurrence appears to be declining in Russia, perceptions of “state capture” are worsening.

An Accounting System Worthy of Earth Day: Natural Capital Accounting

Rachel Kyte's picture
When presidents, prime ministers, and government ministers of more than 60 nations put their countries’ names behind natural capital accounting last year at Rio+20, something shifted. Countries wanted a better way of measuring progress that went beyond GDP and factored in nature and its services.

Clearly that was no flash in the pan. Last week, I chaired a high-level ministerial dialogue on the margins of the IMF-World Bank Spring Meetings where government ministers and senior representatives of more than 40 countries came together to compare notes on how natural capital accounting is working for them.

Country after country – represented by finance, development, or environment ministers – talked about how natural capital accounting fit their countries’ priorities and how it could be a tool to address some of their key policy challenges. With each statement from the floor, it was clear that natural capital accounting is no longer an academic concept. It is alive and well and being utilized across the world in developing, middle, and high-income countries.

Why Finance Ministers Care About Climate Change & Sustainable Development

Rachel Kyte's picture

If you want to fundamentally change how countries use energy, value their natural environments, or combat climate change, you have to talk to the people who hold the purse strings.

That’s what we’re doing this week. Finance ministers from countries around the world are in Washington for the annual World Bank/IMF Spring Meetings. We’re talking with them about these issues and more as we help countries shift to more sustainable development.

Underlying everything: climate change. This isn’t just an environmental challenge – it’s a fundamental threat to economic development and the fight against poverty. I can’t repeat that often enough. If the world does not take bold action now, a disastrously warming planet threatens to put prosperity out of reach for millions and roll back decades of development.

Pages