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Global Daily: Eurozone leaders strike Greek bailout deal

Global Macroeconomics Team's picture
Financial Markets

Eurozone leaders reached a conditional deal for Greece on Monday.  The three-year bailout deal provides about €85 billion of new funding in loans for cash-strapped Greece.  But details on how to bridge a funding gap until an actual disbursement of aids are still being discussed.  In return, Greek government agreed to deep economic reforms under close supervisions by its creditors. The rescue, Greece’s third since 2010, should keep Greece afloat and secure the country’s place in the Eurozone for now.

World Cup and making history for women

Maya Brahmam's picture

Women's World Cup Championship 2015Today is the anniversary of the first World Cup, which was held in 1930 in Uruguay. Last Friday, almost 85 years later, the US Women’s Soccer Team was feted for their victory in a New York City ticker tape parade. A moment quite sweet to contemplate – I was surprised at how many people I saw tuning in and watching the final game.

The economic reality of women’s professional sports is not so sweet. According to PBS, the US Women’s soccer team got $2 million for World Cup win; German men got $35 million in 2014. That New York City ticker tape parade cost almost as much as the US Women’s winnings.

In an interview with the Guardian, Jerome Valcke, Fifa’s secretary general, has argued the men’s World Cup prize money pool is so much larger because the men’s tournament generates more revenue. The men’s World Cup “brings in $4.5bn direct to Fifa,” he said...But women’s soccer is newer, which means the women could be waiting a long time to earn a payout like the German men did last year.
 

Achieving trillions out of billions

Bertrand Badré's picture

The release of the joint statement “From Billions to Trillions: Transforming Development Finance” at our Spring Meetings is one of the most satisfying moments during my two-year tenure as Managing Director and World Bank Group CFO.

My one regret is that the title should have been Billions for Trillions.

Why?

Financing the Sustainable Development Goals (SDGs) will require everyone to make the best use of each dollar from every source, and to draw in and increase public and private investment. The SDGs are ambitious and demand equal ambition in using the “billions” of dollars in current flows of Official Development Assistance (ODA) and all available resources to attract, leverage and mobilize “trillions” in investments of all kinds —public and private, national and global.

The traditional foundation of ODA, estimated at US$135 billion a year, provides a fundamental source of financing, especially in the poorest and most fragile countries. But more is needed. Investment needs in infrastructure alone could reach up to $1.5 trillion a year in emerging and developing countries.

A $100 billion idea: Harnessing migration for financing development goals

Dilip Ratha's picture
As global leaders meet in Addis Ababa this week to decide how development goals would be financed in the next 15 years, I hope they'll take note of the enormous potential of harnessing diasporas, migration and remittances. Please read this note outlining a few under-exploited market-based financing options that are directly connected to international migration.

Data Lab Link Roundup: Data impacts, satellite economics, bitsquatting, a favorite number, giving trees email addresses and more...

Tariq Khokhar's picture



An example of a bit-error changing a URL as part of Artem Dinaburg's bitsquatting post  

Here are some (of the rather a lot of) things that caught our attention last week.

  • I’m a huge fan of creative open data /  civic engagement initiatives such as “Adopt a Hydrant”. Cities are in a unique position to experiment with this kind of approach, but when the City of Melbourne assigned trees with email addresses so citizens could report problems, citizens also took some time to pen little love letters to their favorite trees. This is my kind of Internet of Things.

Quote of the Week: Matteo Renzi

Sina Odugbemi's picture

"I’m the scrapper. I’m cleaning up the swamp."

- Matteo Renzi, in response to political opponents who call him il rottamatore, the demolition man. Renzi was elected Prime Minister of Italy in February 2014 and was referring to the waste, bureaucracy, high unemployment (40% among Italy's youth), slow pace of the Italian judicial system, culture of cronyism, tax evasion, and other areas of reform that he is hoping to change.

 

MOOCs and e-learning for higher education in developing countries: the case of Tajikistan

Saori Imaizumi's picture
There has been a lot of talk and research on massive open online courses (MOOCs) and their potential impact, but is it really applicable to developing countries? How can universities take advantage of online content? And what kind of regulations and quality assurance mechanisms do we need? 

Last year, as a part of the “Tajikistan: Higher Education Sector Study,” I led a team to conduct pilot activities to assess the feasibility of using MOOCs and other e-learning content in higher education institutions (HEIs) in Tajikistan.

Recently the Government of Tajikistan has decided to discontinue existing correspondence-based programs for part-time students and shift to a “distance learning” system using computers and Internet technology. Thus, this study was conducted to assess the possibility of using information and communication technologies (ICT) to improve access, quality and relevance of higher education in Tajikistan. In addition, the study supported a mini-project to pilot a number of ICT-based solution models to tackle challenges identified in the country’s National Education Development Strategy.

Recently, we interviewed pilot participants about their experience participating in MOOCs, e-learning and distance education, and then produced a series of short video clips. These videos showcase the impact of potential use of online learning and distance education for improving access, quality and relevance of education as well as reduction of the gender gap. One of the female students in the video mentioned that distance education allows her to continue studying after having kids.

Here is the overview video that we produced:
 
ICT for Higher Education? The Case of Tajikistan

Save first, then spend: history’s lessons on the influence of low oil prices on global growth

Marc Stocker's picture
The impact of falling oil prices is becoming increasingly visible, but the global economy is yet to hit a nice stride - oil exporters face severe headwinds, oil-importing China continues to slow, other large oil-importing countries have seen mixed developments since the start of 2015, and financial market volatility has increased.


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