. As we said in this month’s Global Economic Prospects report, for the first time since the financial crisis, the World Bank is forecasting that the global economy will be operating at or near full capacity. We anticipate growth in advanced economies to moderate slightly, but growth in emerging markets and developing countries should strengthen to 4.5% this year.
world development report
When I heard the news last autumn that 15-year-old Malala Yousafzai of Pakistan had been shot simply for standing up for her right as a girl to get an education, I was horrified.
It also reminded me how lucky I was.
When I was offered a rare scholarship to study abroad, it wasn’t acceptable for me, as a young married Indonesian woman, to live apart from my husband. My mother laid out two options: Either he would join me, which meant giving up his job, or I had to decline the offer.
I know it was her way to advocate for my husband to support me, which he did without hesitation. We both went to the United States to complete our master’s degrees. I combined it with a doctorate in economics, and we had our first child, a daughter, while we both were graduate students.
The World Bank has just published its annual World Development Report, something it has been doing for more than three decades. [Disclosure: this economist has been contributing comments to early drafts of the WDR for the past 20 years.] The new volume is about security and development. It says that societies are constantly under internal and external “stresses”—think corruption, youth unemployment, racial discrimination, religious competition, foreign invasion, and international terrorism.
Nigel Roberts, co-director of the World Development Report 2011, blogs on the report’s release today over on the Bank's Conflict and Development blog. "We’ve estimated that 1.5 billion people live in areas experiencing or threatened by organized violence; that’s roughly a quarter of the world’s population," he writes.
>WDR Webcast and Panel Discussions: April 14
>World Development Report
This year's World Bank World Development Report focuses on climate change and its effects on international development. The report emphasizes that developing countries are the most vulnerable to the negative impacts of climate change, and that a “climate-smart” world is possible if we act now, act together, and act differently.
Yesterday at the Annual Meetings in Istanbul, climate change experts addressed some of the issues from the World Development Report. World Bank Chief Economist Justin Lin, Norwegian State Secretary for International Development H.E. Hakon Gulbrandsen, and WDR Co-Director Marianne Fay spoke about the impact of the changing climate, re-iterating that developing countries will face 75 to 80 percent of the potential damage from global climate change.
To find out more, watch the full webcast of the press conference, or visit the WDR 2010 website. To learn more about the World Bank's work on the topic, visit the new Climate Change beta site or the climate change blog, Development in a Changing Climate.
Every fall, Governors of the World Bank Group and the IMF meet to discuss progress on the work of the two institutions. The joint World Bank-IMF Development Committee and the International Monetary and Financial Committee are also convened.
This year’s meetings will focus on the impact of the financial crisis and the ensuing global recession on developing countries, as well as solutions to help countries hit hard by the downturns in capital flows, trade, remittances, and tourism.
Governors are expected to discuss the Bank’s financial capacity as it continues to meet the demand from countries coping with the crisis. In fiscal year 2009, the Bank Group committed nearly $60 billion to help developing countries, which marked a 54 percent increase over the previous year and was a record high.
Other issues on the agenda include the impact of climate change on developing countries and the World Bank's role, against the backdrop of the upcoming climate change negotiations in Copenhagen. Climate change complicates efforts to reduce poverty in developing countries, but a “climate smart” world is possible if we act now, act together, and act differently, according to the latest World Development Report.
Governors are expected to reflect on the results of IDA15 to date. The International Development Association (IDA) is part of the World Bank that provides grants and no-interest loans to the poor countries. A mid-term review of IDA15 gets underway in November.