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.”
- Spring Meetings 2015
Transaction accounts can open up access to those currently left out of the banking system, providing a basic entry point, or pathway, to broader financial inclusion.
It’s spring in Washington during a pivotal year in development. Thousands of government officials, journalists, civil society representatives, academics, and CEOs are arriving for the Spring Meetings of the World Bank Group and International Monetary Fund the week of April 13.
It’s one of the last such gatherings before decisions are made on the world’s development priorities and goals over the next 15 years – and how to finance them. In fact, the only item on the April 18 agenda of the Development Committee concerns these post-2015 goals and financing for development.
The World Bank Group and faith-based organizations share something in common – fighting poverty. Now, they’re joining forces to do it. More than 30 leaders representing Bahai, Buddhist, Christian, Hindu, Jewish, Muslim, and Sikh organizations formally expressed support for ending extreme poverty by 2030 – a goal backed by the World Bank Group’s 188 member countries.
Their joint statement, “Ending Extreme Poverty: A Moral and Spiritual Imperative,” released April 9, called for an end to the “scandal of extreme poverty” and said they would use their “voices to compel and challenge others to join us in this urgent cause inspired by our deepest spiritual values.” They added they would commit to hold “all levels of leadership accountable – public and private, domestic and international.”
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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.
This year, World Health Day on April 7th is dedicated to improving food safety from the farm to the plate. This is a timely reminder that food safety is a global public health issue: Foodborne disease causes suffering, death, reduced productivity, loss of wages, decreased trade competitiveness and access to markets and ultimately exacerbate poverty.
Unsafe food containing harmful bacteria, viruses, parasites or chemical substances is the root cause of more than 200 diseases, ranging from diarrhea to cancers. Foodborne and waterborne diseases kill an estimated 1.5 million people annually, including many children under the age of 5.