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Today in Singapore, MIGA and IE Singapore co-hosted a seminar:"Managing Global Political Risks: Old Risks, New Moment."
After the welcome speech by IE's Assistant CEO Terence Seow, Michel Wormser, MIGA's Vice President and COO, delivered the keynote speech, which touched upon the current global economic turbulence, potential investment opportunities for Asian investors, the perception of risks, and what role the World Bank Group can play in facilitating private capital into productive projects. Michel noted that—while he understands that many Asian companies tend to invest in nearby countries—there are also plentiful of opportunities in Africa and Latin America.
I’ve been working with my colleagues on the Apps for Climate competition. We’ve been puzzling over the intersection of climate and technology and what sorts of new ideas we’ll get from this exercise. What about “little green nudges?” Is there an App for that?
“Nudges” are subtle messages that have been used to change behavior. George Webster’s recent article on CNN’s website notes that, “whether we're conscious of them or not, nudges -- of a sort -- are all around us. From the rumble strip along motorways -- gently encouraging motorists to remain in the correct lane -- to rows of brightly colored candy wrappers, less subtly inviting us to pick them up and place them in our shopping cart…” And what’s more, they work and have the potential to be harnessed for the greater good.
As part of the World Bank supported South-South knowledge exchange on Open Government, on February 28, the ICT Sector Unit in partnership with the World Bank Institute organized a videoconference-based workshop that provided a core group of policy makers from Macedonia and Moldova with relevant and timely input based on experiences of Brazil, the United Kingdom and the US. The program enabled the client countries to develop bold but focused Action Plans to be submitted to the Open Government Partnership at the April 2012 meeting in Brazil.
In the last three or four years, there has been a sharp rise in food prices in Gujrat, Pakistan, where I live--especially for commonly needed products such as wheat, sugar, vegetables, fruits, and grains.
My neighbors and friends say their incomes can’t keep up with food and oil prices, so they are reducing their daily food intake. Before this food price spike, they ate three times a day, now it’s twice.
Mission to Côte d'Ivoire scheduled to take place between February 13 and 17. Time to prepare for my first trip with the Bank: call for tickets and hotel, visit the travel clinic, request UNLP and visa, read security recommendations, exchange money etc. Ah, of course, prepare all the background documents and coordinate the elaboration of our meeting schedule. Simple activities that tend to become uninteresting for those who have done it several times before are rather exciting for a beginner.
I landed in Cote d’Ivoire just in time for the big final of the Africa’s Nations Cup: Cote d’Ivoire, the favorites to win, facing the surprising Zambia. Everyone’s eyes were on the game and the scenario was set for a week of celebrations. Football (soccer), however, is tricky and Cote d’Ivoire ended as the runner up. That did not change the plans in the country: Monday the 13th had been declared a national holiday for the people to welcome the players and so it was. A slight unexpected issue for us, as most of our meetings scheduled for that day were cancelled. An anti-climax for a beginning.
Over the last ten years or so, interest in multidimensional poverty analysis has really taken off - not only among academics, but also in the broader policy debate. No one seems to dispute that deprivations exist in multiple domains, and are often correlated. Looking at deprivations in health, education and other dimensions of well-being can complement the fundamental measurement of income and consumption-based poverty, illustrated by the World Bank poverty update announced yesterday. But agreement at this conceptual level clashes with often vociferous disagreement about how best to measure these deprivations.
Several people, from The Economist to this blog, have been highlighting Africa's accelerated GDP growth of about 5 percent a year for the decade before the 2008-9 global economic crisis, and the two years since the crisis. But has this growth served to reduce poverty?
The latest globally consistent estimate of poverty rates has an answer: Yes.
Using the measure of people living on $1.25 a day or less, the World Bank's poverty measurement team, led by my colleague Martin Ravallion, estimates that the percentage of poor Africans fell from 58 percent in 1999 to 47.5 percent in 2008. This rate of decline of about one percentage point a year is a welcome change from the previous decade when growth was much slower and the poverty rate increased.