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Europe and Central Asia

Economists weigh in on oil prices and an uneven global recovery

Donna Barne's picture
Also available in: Español | Français | العربية | 中文
World Bank chief economists, clockwise from upper left: Senior Vice President and Chief Economist Kaushik Basu, Augusto de la Torre (Latin America and the Caribbean), Shanta Devarajan (Middle East and North Africa), Francisco Ferreira (Sub-Saharan Africa), Sudhir Shetty (East Asia and Pacific), Hans Timmer (Europe and Central Asia), Martin Rama (South Asia).


​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.”

Transforming Primary Health Care in Tajikistan through Performance-Based Financing

Sarvinoz Barfieva's picture
Also available in: Русский

In Tajikistan, primary health care (PHC) accounts for just 27 percent of public health spending and yet PHC accounts for over 70 percent of all referrals and health visits across the country.

Given this imbalance, in April 2014 the country launched the pre-pilot of a new PHC financing mechanism, using a Performance-Based Financing (PBF) approach, which should significantly improve the quality and coverage of PHC services. The pre-pilot phase focuses primarily on the prevention and early detection of maternal and child health (MCH) related diseases and non-communicable diseases.

Tajik women and a child

Beauty and the beast: Comparing the law on the books with the law in practice

Klaus Decker's picture
 

Who has not faced a situation wherein the law on the books in a particular country looks just beautiful but things seem to be going horribly wrong in practice?

Whatever the gap between the law on the books and the law in practice, how does one even go about assessing it in the first place before starting to bridge it? What is feasible, given the budgets that we are likely to work with when carrying out these diagnostics?

Process maps may be just what you are looking for. As part of a Judicial Functional Review in Serbia, our team was tasked with assessing the implementation gap between the provisions in the codes and the practice in the courts. Time was limited and resources scarce.

So what did we do?

Protecting Armenia’s future: Let’s make it great to be a girl!

Laura Bailey's picture
One of the most striking things I first noticed after moving to Armenia was the importance of strong extended family networks – and the extent to which this aspect of Armenian social structure has evolved over time, transcending distance and getting ever-stronger through adversity.

This solid social network is an essential element in understanding and responding to the challenges that Armenia faces – and it can, if well-mobilized, help boost the country’s ability to reduce poverty and ensure that economic growth and prosperity are shared among all.

Women – Pillars of Armenia’s economy and society

Laura Bailey's picture
On Sunday, March 8th, we celebrate International Women’s Day. In Armenia, the date is also a national holiday and, coincidentally, this year it marks exactly six months since I arrived in Yerevan to lead the World Bank team here.

So, for me this is an opportune moment to pause and reflect on some of the gender realities that I am learning about in Armenia, including their influence on socio-economic dynamics.

When less is more: How Serbia could deliver better justice with fewer judges

Georgia Harley's picture
When less is more: How Serbia could deliver better justice with fewer judges
 
In courts across Europe, there is a common refrain: “we need more judges!” Your court has a backlog? Many hands will make light work. Your courts are out of touch? Let’s bring in some new blood.
 
Serbia, however, has the opposite problem. Serbia has too many judges. And the implications for system performance, service delivery, and justice reform are significant.
 
How many is too many?
 

What the world can learn about sustainable food systems from Ireland's 'Origin Green'

Juergen Voegele's picture
To feed up to 9 billion people by 2050, the agriculture sector will need to produce about 50% more food.
 
But the natural resources needed to grow food are overstretched, and in many cases, severely depleted. Agriculture is also vulnerable to climate change and a changing climate could reduce crop yields by up to 25%. At the same time, agriculture is a big contributor to the climate problem, generating close to a quarter of greenhouse gas emissions. Without targeted interventions, that number could rise further, threatening the world’s food supplies.
 

Rain and shine: Deliberations in Istanbul on the impact of oil prices

Ulrich Bartsch's picture
On a recent rainy Saturday in Istanbul, the mood was so gloomy that a roomful of macro-economists were at pains to admit that the sharp fall in the oil price since June 2014 would actually benefit a lot of people. On display was an impressive assortment of "two handed economists", who saw almost as many losers as winners. They cited negative effects on fiscal balances in oil exporting countries, investment declines because of uncertainty, and demand shortfalls in countries in which consumers are still deleveraging after the Global Crisis. In addition, the gains in many countries would be tempered by government interventions, which may reduce subsidies or raise taxes without translating fiscal space into higher spending.

Can Court Fee Waivers Open the Door for Justice in Serbia?

Georgia Harley's picture
The courts are open and justice is blind, or so they say. But if you’re poor, the courts may be beyond your reach. How can you protect your rights if you cannot afford to walk through the door of the courthouse?

In many countries, courts offer to waive their fees to anyone who can demonstrate that they cannot afford them.

Whilst it is true that fee waivers will not overcome profound barriers to access to justice, they do provide an important safety net for the poor to access essential services. And by helping the poor to pursue their rights, the courts can help to level that unequal playing field that is the courtroom.

In Serbia, providing court fee waivers are particularly pertinent.
 

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