Lower oil prices are a boon for oil importers around the world. But how well are oil-producing countries adapting to the apparent end of a decades-long “commodity supercycle” and lower revenues? And what does this mean for the global economy?
World Bank economists provided insights on the situation in six developing regions at a webcast event April 15 ahead of the World Bank Group-IMF Spring Meetings. The discussion focused on the challenge of creating sustainable global growth in an environment of slowing growth.
World Bank Chief Economist Kaushik Basu said the global economy is growing at 2.9% and is “in a state of calm, but a slightly threatening kind of calm. … Just beneath the surface, there’s a lot happening, and that leads to some disquiet, concern – and the possibilities of a major turnaround and improvement.”
Latin America & Caribbean
When you combine death-by-smog with deaths related to exposure to dirty indoor air, contaminated land and unsafe water, the grand total of deaths from all pollution sources climbs to almost 9 million deaths each year worldwide. That’s more than 1 in 7 deaths and makes pollution deadlier than malnutrition.
This fact deserves to be better known, as there are ready solutions. Inaction is not an option.
Thanks to a recent knowledge exchange program, yes!
As we can all imagine, Africa’s lush greenery and planted forests offer huge potential but the sector’s expansion faces major barriers like access to land, lack of access to affordable long-term finance and weak prioritization of the sector.
Take Ethiopia, for example. About 66.5 million cubic meters of the country (46% of total wood-fuel demand) is subject to non-sustainable extraction from natural forest, wood- and scrublands, resulting in deforestation and land degradation. In Mozambique, charcoal is still produced from native forests, leading to immense pressure on natural resources, and way beyond its regeneration capacity. Both countries want to know how the forest sector can contribute to their national development plans and help grow their economies and reduce rural poverty, while being environmentally sustainable.
This topic is of even more importance as we celebrate the International Day of Forests on March 21, and helps us raise awareness on the need to preserve forests and use this natural wealth in a responsible and sustainable manner.
“What would it take to reduce disaster risk in your country by 50 percent by 2030?” This question was posed to a gathering of small island developing states leaders and representatives during the Understanding Risk forum in London in 2014.
At the time, it probably seemed like an overwhelming question. Around US$650 million in international financing is currently available annually to build resilience in small states. However, for many countries, reducing their disaster risk by 50 percent is an attainable goal.
I recall a visit to a Bank-funded project in a rural Bolivian community. An enthusiastic Quechua woman was proudly telling me that she was about to undertake the 3-hour journey to Sucre with her “wawa” (baby) to get the three price quotes she needed to purchase wire for the community fences. She was participating in one of over 600 investments designed to help vulnerable rural communities in Bolivia lift themselves out of poverty, within the scope of the Community Investment in Rural Areas Project (PICAR) executed by the Ministry of Rural Development of Lands.
“You just have one wawa, right?,” I asked. She replied: “Well, this is the youngest of six children; the others will stay home. My ten-year-old daughter will look after the younger ones. Right now my husband is working in the Chapare, harvesting coca leaves. He only comes home occasionally.”
After talking with her I had mixed feelings. One the one hand, I was worried that our gender-targeted project was asking too much of her and might be harming her kids in some way. On the other hand, I realized that it was giving her a unique chance to engage in tasks historically performed by the men.
Women are emerging as a major force for change. Countries that have invested in girls’ education and removed legal barriers that prevent women from achieving their potential are now seeing the benefits.
Let’s take Latin America. More than 70 million women have joined the labor force in recent years. Two-thirds of the increase in women’s labor force participation in the last two decades can be attributed to more education and the fact that women marry later and have fewer children. As a result, between 2000 and 2010, women's earnings contributed to about 30% of the reduction in extreme poverty in the region.
In fact, for countries to leave poverty behind, both men and women need to get to equal and push the frontiers of equal opportunities even further. But to get there, we need to tackle three issues.
First, violence against women needs to end. More than 700 million women worldwide are estimated to have been subject to violence at the hands of a husband or partner. Domestic violence comes with great cost to individuals but also has significant impact on families, communities, and economies. Its negative impact on productivity costs Chile up to 2% of its GDP and Brazil 1.2%.
Many girls and women have little control over their sexual and reproductive health: If current trends persist, more than 142 million girls will be married off over the next decade while they are still children themselves.
We were ready to probe the effect of male out-migration from rural areas in Guatemala on women’s role in farming. But when we approached surveyors, experts, policymakers, and municipal officials, they were, quite simply, puzzled.
Take a look back at some of the most popular stories you may have missed in 2014:
1. Raising More Fish to Meet Rising Demand
- natural capital
- food security
- Climate Change
- Agriculture and Rural Development
- The World Region
- South Asia
- Latin America & Caribbean
- East Asia and Pacific