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November 2012

CNBC-TV18 India talks to Kaushik Basu on Growth

LTD Editors's picture

Following is the trancscript of Kaushik Basu's interview with CNBC-TV18, India, which first appeared on www.moneycontrol.com.

In an interview to CNBC-TV18, Kaushik Basu, chief economist, World Bank said the growth situation has to be taken seriously. "I do believe that, for India, there has to be all focus on growth."

Despite the fact that compared to the rest of the world, India is doing well, he said, it has the potential to get right back to 8.5 percent growth. "We have to put all hands on growth and try to get it back again up as quickly as possible," he added.

Q: You have been appointed as World Bank’s chief economist. So, the view from the inside has now changed to the view from the outside, has not it?

A: A little bit. Three months ago, I moved from the heart of Indian policymaking to seeing it from outside.

Climate for change in Istanbul

Joumana Asso's picture

A view of the Blue Mosque in Istanbul, Turkey. - Photo: Shutterstock 

As the Climate Investment Funds (CIF) and its stakeholders from the private sector, government,  the multilateral development banks, civil society and indigenous peoples’ groups gathered in Istanbul to participate in the first CIF Private Sector Forum, their attention is increasingly focused on synergies between the private and public in addressing climate change.  There is a growing understanding among both governments and private sector players - from investors to small project developers to large utility companies - that gains are much larger if common strategies are developed and new partnerships are forged.

Michael Liebreich, CEO of Bloomberg New Energy Finance, opened the day with an energetic keynote address, provocative and positive, setting up the stage for the day by announcing the scope of challenge and opportunities for dynamic, and pragmatic climate investment strategies. Sessions on private sector adaptation, and business attitudes towards climate risk followed. The `Matching Expectations' panel brought together indispensable partners, the triangle of project developers-investors-policy makers, into discussion of regulations, fund raising challenges and investors' expectations and requirements. 

The day also showcased five CIF projects, beginning with the highlight of the Morocco Ouarzazate CSP project, a unique PPP model, presented by Paddy Padmanathan, the CEO of the project's developer ACWA Power. 

Consensus emerged that the private sector will deliver much of the innovation and finance required for investments in low carbon technologies and climate resilience in rich and poor communities alike. With scientists warning that we are not on a path to limit global warming to 2° or less, there is growing urgency to identify effective ways in which the public and private sectors can best work together to tackle and adapt to climate change.  The CIF provide a platform for learning by doing to develop such models for effective collaboration and share experiences among the network of CIF recipient and contributor countries.

Is Mexico ready for its next big storm or earthquake?

Gloria M. Grandolini's picture

También disponible en español

With its long trail of death and destruction spanning the Caribbean and the US East Coast, hurricane Sandy will surely be remembered as one of the most damaging storms in recent history. As I write this blog, Sandy has claimed over 100 lives and caused more than US$50 billion in damages.

After ravaging Cuba, Haiti and Jamaica, Sandy took a turn to the Northeast, instead of pursuing a westerly trajectory, sparing the Gulf of Mexico coastline from its deadly punch.

On the agenda: stability, recovery and growth for all

Zia Morales's picture

Sustainable, equitable growth is a priority for countries around the world. But what paths can they take to achieve it? 

That question will be on everyone’s mind at next week’s Financial and Private Sector Development Forum (FPD Forum).  From November 5-6, central bankers, private sector representatives, IGO leaders and other experts will be deliberating on issues that are crucial to economic growth and development. Competition policy, financial stability, youth employment in Africa, women's entrepreneurship, MSMEs in the Arab world and innovation as a developmental approach are just some of the topics on the agenda.

No More Hungry Children

John Stein's picture

An Indian mother with her newbornAs the World Bank Group, we are dedicated to a world free of poverty. Poverty has many manifestations, of course, but few are sadder than child hunger and malnutrition. It is not just the heart-rending pangs of hunger or the susceptibility of a malnourished infant or child to ailments and diseases. The persistent effects are even more troubling. Poor nutrition impairs physical and mental development so that children benefit less from education and are less productive as adults. It leads to increased morbidity and mortality, causing output losses and increased spending on health and social support. Long ago William Blake wrote "some are born to endless night," poignantly capturing the tragedy of lives blighted by childhood deprivation.

If the extent of hungry children in the world – more than 350 million – is an inconvenient truth, their numbers in the South Asia region are acutely embarrassing. 

Water and sanitation in rural Haiti still just a trickle

Victoria Flamant's picture

También disponible en español y francés

Alphonsine and her three children walk over 10 hours a week just to meet their basic need for drinking water. The journey is best done in the early hours of the morning before the heat becomes unbearable.

Rural water coverage in Haiti continues to be the lowest in the Western hemisphere, with only 55% of the population having access to an improved drinking water source compared to an average of 80% for rural areas in Latin America and the Caribbean, according to the latest available figures from WHO and UNICEF.

With Sandy, Comes a Reminder

Maryanne Leblanc's picture

“Superstorm” Sandy passed through the northeast United States earlier this week. High winds and heavy rains caused considerable damage, particularly in New Jersey and New York. High winds damaged buildings and knocked down trees and branches. Falling trees and branches caused more damage, including falling on electrical and telephone wires, breaking them and causing widespread power outages. Further, the winds north of the storm’s center pushed already high tides into repeated surges, some as much as 4.5 m (over 13 feet) above normal high tide. Coastal areas, including parts of Manhattan, were submerged; road and subway tunnels filled with water. Heavy rains caused additional flooding along rivers and coastlines.

Friday Roundup: Unemployment, Jobs, Sectors, and Rethinking Development

LTD Editors's picture

How do you measure unemployment? By counting the number of people looking for work but unable to find it. However, this measure overlooks people willing to work and not necessarily looking for jobs. In an interesting chart, The Economist illustrates how a broader measure makes unemployment in Europe look even worse
 


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