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#ItsPossible to End Poverty

Christine Montgomery's picture

Ending poverty is within our reach. The percentage of people living in extreme poverty has more than halved since 1990, thanks to the sustained efforts of countless individuals, organizations and nations. 

Show us how #ItsPossible.

Panama Canal expansion: A smart route for boosting infrastructure in Latin America

Philippe H. Le Houérou's picture
Also available in: Español
Since it opened in 1914, the Panama Canal has been one of the world’s most important trade assets and a marvel of engineering. Its expansion has doubled the canal’s cargo capacity, adding a new lane and bigger locks that will shake up shipping routes and make seaborne trade less costly and more efficient.
© Panama Canal Authority

Panama, already projected to be Latin America’s fastest-growing economy over the next five years, was the big winner when the expanded canal opened its locks on June 26. New port projects and related logistics hubs are in the works to attract global manufacturers and further enhance the country’s competitiveness.

Are billionaires good for growth?

Donna Barne's picture
Also available in: Español | Français | 中文 | العربية
Rich People, Poor Countries

We are living in a world where the largest corporations are larger and the richest entrepreneurs are richer than ever before – and an increasing number of billionaires are based in emerging countries. Who are these tycoons and how important are they to their economies?

A new book by Caroline Freund aims to answer these questions by examining the characteristics and impact of 700 emerging-market billionaires whose net worth adds up to more than $2 trillion.

Rich People, Poor Countries: The Rise of Emerging-Market Tycoons and Their Mega Firms finds that very large firms are export superstars in their home countries.

In the United States the top 1% of firms account for 80% of exports. In emerging countries, the top 1% account for 50% of exports but that figure is rising rapidly, Freund said at a book launch at the World Bank’s Infoshop on March 23.

Sustainable tourism, a unique opportunity for developing countries

Ede Ijjasz-Vasquez's picture
With the number of international visitor arrivals now exceeding 1 billion a year, tourism has become one of the fastest-growing sectors of the global economy: overall, the travel and tourism industry contributes to almost 10% of the world’s GDP, and is linked to 1 in 11 jobs.
The trend has largely benefited developing countries, which for the first time last year received more tourists than the developed world. At the World Bank, we believe that tourism, when done right, can provide our clients with a unique chance to grow their economies, bolster inclusion, and protect their environmental and cultural assets.
In this video, Lead Urban Specialist Ahmed Eiweida tells us more about the potential of sustainable tourism, and explains the Bank’s role in helping low and middle-income countries make the most of the international travel boom.

Message for Latin America: Protect social gains and jobs amid slowdown

Donna Barne's picture
Also available in: 中文 | Français | Español

The economic slowdown in Latin America and the Caribbean is putting pressure on workers and wages and forcing some people out of the labor force, according to a new report released during a live-streamed event of the same name, “Jobs, Wages, and the Latin American Slowdown,” in the lead-up to the World Bank Group-IMF Annual Meetings in Peru.

“A lot of women joined the labor force in the good times. Now, in the slowdown, people are exiting the labor force — men and youth with little education. This is good news if they’re going to university, but bad if they’re going to live with their parents and be idle,” said Augusto de la Torre, the World Bank’s chief economist for Latin America and the Caribbean.

Moreover, the “exit of youth from the labor force will affect poor families more than wealthier ones – inequality could become greater,” said de la Torre.

In praise of folly: How modern development partners are learning the lessons of Erasmus

Bertrand Badré's picture
Also available in: Español | Français
A student in Afghanistan. © Sofie Tesson/World Bank

What a remarkable and busy six weeks!

There has been a tremendous re-energizing globally to explore and identify ways to finance the proposed Sustainable Development Goals (SDGs). The international recognition that the SDGs need to go even further than the previous Millennium Development Goals has prompted discussion of how to get from billions to trillions of dollars to achieve sustainable and inclusive development.

Global Citizen Earth Day: Rallying for People and the Planet

Dani Clark's picture
Also available in: 中文

On April 18 close to 300,000 people united under a warm sun on the National Mall in Washington, DC, for Global Citizen 2015 Earth Day, a momentous day-long mix of advocacy and entertainment, urging citizen action to help end extreme poverty by 2030 and stop climate change.

Musical acts alternated possession of the stage with a diverse cadre of global leaders making policy commitments and calling citizens to action throughout the eight-hour event. Superstars like Mary J. Blige, Usher, and the band No Doubt roused the massive crowd which spilled out on green grass around the iconic Washington Monument. More than 2 million people tuned into the live webcast on YouTube.

“2015 is the time for global action. You have the power, your generation can change, your generation can make a difference,” UN Secretary General Ban Ki-moon told the crowd, sharing the stage at the end of the event with World Bank Group President Jim Yong Kim and IMF Managing Director Christine Lagarde.

Economists weigh in on oil prices and an uneven global recovery

Donna Barne's picture
Also available in: Español | Français | العربية | 中文
World Bank chief economists, clockwise from upper left: Senior Vice President and Chief Economist Kaushik Basu, Augusto de la Torre (Latin America and the Caribbean), Shanta Devarajan (Middle East and North Africa), Francisco Ferreira (Sub-Saharan Africa), Sudhir Shetty (East Asia and Pacific), Hans Timmer (Europe and Central Asia), Martin Rama (South Asia).

​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.”

Five reasons to act now to #endpollution

Paula Caballero's picture
Did you know that about 3.7 million people worldwide died in 2012 from diseases related to ambient air pollution? That is nearly the population of the city of Los Angeles expiring every year from preventable causes.

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.
Photo via Shutterstock

This fact deserves to be better known, as there are ready solutions. Inaction is not an option.