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Prospects Daily: Australia and Uganda cut policy rate, Brazil’s industrial production accelerates

Global Macroeconomics Team's picture

Financial Markets… The euro rose to a six-week high against the dollar, appreciating to $1.3077, and Europe’s benchmark stock index (Stoxx Europe 600) gained for a second day, as growing optimism over a successful Greek buyback program boosted investor sentiment. Greece started the €10 billion ($13 billion) repurchase of government bonds maturing between 2023 and 2042 on Monday.

Ready, Set, Hack!

Sanitation Hackathon Team's picture

After months of preparation, the Sanitation Hackathon weekend is upon us.

In dozens of countries around the world, IT and sanitation experts will join forces for an intensive brainstorming and programming marathon to develop innovative applications for some of the world’s sanitation challenges.

General Aviation and Disaster Relief

Charles E. Schlumberger's picture

When a disaster strikes, such as a hurricane or a major earthquake, relief efforts are often hampered by destroyed or damaged ground infrastructure, mostly roads, bridges, and railway networks. In the days following such a disaster, relief efforts hinge on air transport capacity, which only depends on a clear runway or landing sites for helicopters. First responders, who focus on saving lives, are primarily aviation units of the armed forces or law enforcement.

Prospects Daily: Japan’s GDP contracts at annualized 3.5% (q/q) in third quarter

Global Macroeconomics Team's picture

Financial Markets…Global stock markets fluctuated between gains and losses, following three consecutive days of losses last week, as strong Chinese exports data in October offset worries over a prospect of the so-called U.S. fiscal cliff and Greek woes. The benchmark MSCI global equity index just slipped 0.04% in afternoon trading.

Prospects Weekly: Private capital flows to developing countries eased in October

Global Macroeconomics Team's picture
Private capital flows to developing countries eased in October, but remain close to their highest level in more than a year, led by robust bond issuance by emerging market sovereigns and firms. Business sentiment has strengthened in some countries, including the US and several emerging markets, but remains weak in general amid US “fiscal cliff” and Euro Area risks.

Prospects Daily: Year-to-date global corporate bond sales rose to $3.43 trillion

Global Macroeconomics Team's picture

Financial Markets…Year-to-date global corporate bond sales rose to $3.43 trillion, already surpassing 2011’s full year total of $3.29 trillion, as further stimulus from global central banks pushed yields to record lows. Funding costs for the riskiest to the most creditworthy corporates are plunging as the persistent low-yield environment spurred unprecedented investor demand.

Hurricane Sandy and the Transport Specialist: post factum impressions

Virginia Tanase's picture

Almost two weeks ago, when Hurricane Sandy hit the east coast of the United States, the importance of sustainable transport--which is the field I work in--really came home to me.  I was in New York for a UN Working Group meeting on transport’s contribution to sustainable development—one of the priorities for Secretary General Ban Ki-moon’s second term.

Prospects Daily: US treasuries gained and the benchmark 10-year bond yield edged down

Global Macroeconomics Team's picture

Financial MarketsUS treasuries gained and the benchmark 10-year bond yield edged down 1 basis point to 1.66%, after rising as high as 1.7% earlier, while the 30-year bond yield slid by 2 bps to 2.83% in early Friday session after a government report on wholesale price in September showed domestic inflation remained muted.

New Pledges Expand GAFSP's Food Security Work in World's Poorest Countries

Rachel Kyte's picture

When you want to put money, ideas, innovation, and hard work together to increase food security, there’s nowhere better than the Global Agriculture and Food Security Program – GAFSP.

Don’t just believe me. Listen to the Rwandan farmers whose now-terraced hillsides are getting higher yields, producing better nutrition, and improving their livelihoods.

Similar stories can be told in Tajikistan, Sierra Leone, Bangladesh, and elsewhere.

Japan and the Republic of Korea are among those convinced that GAFSP is a good investment in food security. Inspired by a challenge from the Unites States, Japan and South Korea just pledged an additional $60 million to GAFSP at a meeting in Tokyo held in conjunction with the World Bank and IMF Annual Meetings.

The United States announced that it was prepared to contribute an additional $1 to GAFSP for every $2 contributed by other donors, up to a total of $475 million.

Why is GAFSP so successful?

Prospects Weekly: Latest bout of G3 monetary stimulus is likely to increase capital flows to developing countries

Global Macroeconomics Team's picture

The latest bout of G3 monetary stimulus is likely to increase capital flows to developing countries, but may be limited by lingering economic uncertainty, and lower interest rate spreads. Notwithstanding the recent easing of financial market tensions, the anticipated rebound in real-side activity is lagging behind.


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