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Rain and shine: Deliberations in Istanbul on the impact of oil prices

Ulrich Bartsch's picture
On a recent rainy Saturday in Istanbul, the mood was so gloomy that a roomful of macro-economists were at pains to admit that the sharp fall in the oil price since June 2014 would actually benefit a lot of people. On display was an impressive assortment of "two handed economists", who saw almost as many losers as winners. They cited negative effects on fiscal balances in oil exporting countries, investment declines because of uncertainty, and demand shortfalls in countries in which consumers are still deleveraging after the Global Crisis. In addition, the gains in many countries would be tempered by government interventions, which may reduce subsidies or raise taxes without translating fiscal space into higher spending.

Recent Floods in Malawi Hit the Poorest Areas: What This Implies

Stéphane Hallegatte's picture
 
Malawi flood map 2015


By Stéphane Hallegatte, Mook Bangalore, and Francis Samson Nkoka

Malawi is no stranger to significant flooding. In January 2012, floods affected more than 10,000 people and caused US$3 million worth of damage to households and infrastructure. But this year’s floods are much larger in magnitude, even unprecedented.

Beginning in early January, heavy rains triggered significant flooding in the southern and eastern districts of the country. The districts which experienced the largest impacts include Nsanje and Chikwawa in the south and Phalombe and Zomba in the east. So far, the flooding has affected more than 600,000 people, displaced over 170,000, and damaged agricultural crops covering more than 60,000 hectares.

While aggregate numbers and economic cost indicate the seriousness of the event, it is critical to look at exactly who is affected in the country. We have found that the poorest are on the front line.

Can Court Fee Waivers Open the Door for Justice in Serbia?

Georgia Harley's picture
The courts are open and justice is blind, or so they say. But if you’re poor, the courts may be beyond your reach. How can you protect your rights if you cannot afford to walk through the door of the courthouse?

In many countries, courts offer to waive their fees to anyone who can demonstrate that they cannot afford them.

Whilst it is true that fee waivers will not overcome profound barriers to access to justice, they do provide an important safety net for the poor to access essential services. And by helping the poor to pursue their rights, the courts can help to level that unequal playing field that is the courtroom.

In Serbia, providing court fee waivers are particularly pertinent.
 

Women with Migrant Husbands Leave Farming, or Do They?

Maira Reimao's picture
Also available in: Español
WASHINGTON—Our first day in Guatemala presented us with a researcher’s nightmare.
 
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.
 

Consolidating Gains: Gender Diversity in Business Leadership

Rudaba Z. Nasir's picture

Can we envision a time when we will no longer be surprised to hear that a woman is leading an energy or technology company? Can closing the gender gap in leadership, especially in male-dominated industries, be a possibility in fewer than 100 years?

Today’s dynamic women in top leadership positions are opening up the possibility of answering these questions with a resounding “Yes!” They have shattered glass ceilings and paved the way forward for countless others trying to uproot deeply entrenched ideas about women’s and men’s differing roles and opportunities in business and society. As a result, more and more women are now recognizing and making progress towards transcending the glass walls that also silo them in certain managerial functions, such as human resources and communications.

However, a new report by the International Labour Organization (ILO) released last week reminds us that gender diversity gains are not always sustained. Featuring unique data collected from 1,300 private sector companies in 39 developing countries, the report states that concerted efforts are required to consolidate progress and change mindsets while fighting unconscious biases at all levels of society.

Rising Financial Pressures from the East

Aurora Ferrari's picture
It’s hard to get a break in the Europe and Central Asia region, it seems – even a short one. Hit hard by the troubles in the Eurozone at the beginning of the decade, emerging and developing countries in Eastern Europe are, at the beginning of this year, contending with renewed fears. Meanwhile, external pressures have built up on the Central Asia side as well.

All eyes turned to Russia recently, when on 16 December the ruble plunged by more than 11 percent, despite the Central Bank of Russia’s last-minute interest rate hike of 6.5 percentage points to 17 percent. When it looked like Russia’s turmoil might spread to global markets, western economies sat up and paid close attention.

What may have gone unnoticed, however, is the ongoing impact on our client countries in the Europe and Central Asia region.

In Uncertain Economic Times, a Chance for Global Breakthroughs

Jim Yong Kim's picture
Also available in: Español | العربية | 中文 | Français
A shop in Sri Lanka is lighted by solar panels. © Dominic Sansoni/World Bank


​The global economy is growing, but a bout of New Year anxiety has taken hold, posing challenges to our global mission: boosting the prosperity of the bottom 40%, ending extreme poverty by 2030, and avoiding a climate meltdown.

A Year of Opportunity to Combat Climate Change — and Transform Economies

Jim Yong Kim's picture
Also available in: Français | Español | العربية | 中文
A glacier in Chile. © Curt Carnemark/World Bank


​Scientists declared this past year as the warmest year on Earth since record-keeping began in 1880, and a series of scientific reports found glaciers melting and extreme weather events intensifying. There can be no doubt that this year world leaders must commit to transforming their economies to combat climate change.

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