The World Meteorological Organization’s State of the Climate in Asia 2024 report warns that the region is warming nearly twice as fast as the global average, driving more extreme weather and posing serious threats to lives, ecosystems, and economies. In 2024, Asia experienced its warmest or second warmest year on …
The Gambia’s economy continued to recover in 2022, albeit at a subdued pace in a sluggish global economic environment. Real GDP increased by 4.3 percent (1.8 percent in per capita terms) in 2022, unchanged from 2021, when economic growth was recovering from the COVID-19 pandemic following a sharp deceleration to …
The Malawi Economic Monitor (MEM) provides an analysis of economic and structural development issues in Malawi. This 17th edition was published in July 2023 and is part of an ongoing series published twice each year. The publication intends to foster better-informed policy analysis and debate regarding the key challenges that …
This report explores the potential socio-economic impacts of the energy transition in Southeast Asia. It shows that an ambitious energy transition will deliver a broad range of beneficial socio-economic outcomes for the region. Southeast Asia has witnessed impressive economic growth in the past three decades. Its gross domestic product (GDP), …
The Rwanda Economic Update No. 21 reviews the country’s macroeconomic performance and prospects and includes a special section focusing on the impact of foreign direct investment (FDI) on the domestic economy. After growing by 8.2 percent in 2022, Real GDP expanded by 9.2 percent in the first quarter of 2023. …
Africa’s Development Dynamics uses lessons from Central, East, North, Southern and West Africa to develop policy recommendations and share good practices across the continent. Drawing on the most recent statistics, the analysis of development dynamics aims to assist African leaders in reaching the targets of the African Union’s Agenda 2063 …
The researchers document that extreme heat has an economically and statistically significant negative effect on economic growth in Latin America. Because extreme heat impacts physical and cognitive performance, heat waves could have a particularly large impact on economic activity. In particular, the researchers find that the magnitude of the negative …
Exposure to fine particulate pollution (PM2.5) increases mortality and morbidity and reduces human capital formation and worker productivity. As a consequence, high levels of particulate pollution may adversely affect economic activity. Using a novel dataset of changes in the annual gross domestic product of Indian districts, this paper investigates the …
The new administration has initiated critical reforms to address macroeconomic imbalances. This window of opportunity could have a transformative impact on the lives of millions of Nigerians and establish a solid foundation for sustainable and inclusive growth. The removal of the petrol subsidy and foreign exchange (FX) management reforms are …
This Algeria Economic Update reports on the main recent economic developments and policies. It places them in a global and longer-term context and assesses the implications of these developments and policy changes for Algeria’s economic prospects. The report is intended for a broad audience, including policymakers, business leaders, financial market …
The Generalized System of Preferences (GSP) was proposed in 1964 at the first quadrennial conference of the United Nations Conference on Trade and Development (UNCTAD), which has a lengthy association with trade preferences as a tool of development. Like the GSP, the African Growth and Opportunities Act (AGOA) and other …
Groundwater is vital to economic activity and growth, food security, socioeconomic development, and adapting to the impacts of climate change. But the sustainability of this critical resource is at risk in many regions, partly because it is not valued appropriately and is taken for granted. In the context of global …
With a GDP growth at 4.8 percent in 2022, economic performance softened after the strong rebound from the COVID-19 crisis at 7.5 percent in 2021. The growth rate, however, has remained in line with Kenya’s long-term growth trajectory, even though the economy faced challenging global financial conditions, fuel, and food …
Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global …
In the last two years, Liberia’s economic performance has improved. Inflation remained in single digits despite high global food and fuel prices and a relaxation in monetary and fiscal policies. Liberia’s poverty rate is projected to have declined slightly in the last two years as GDP growth rebounds and inflation …
A combination of domestic imbalances and external shocks in 2022, led to macroeconomic challenges in Ghana. The year was marked by currency depreciation, rising inflation, and tumbling investor confidence. Pre-existing fiscal vulnerabilities such as mounting debt burden, a rigid budget weakened by high energy sector costs and chronically low public …
This is the first edition of the Economic Update for Equatorial Guinea. This report presents recent economic developments in Equatorial Guinea as well as the medium-term economic outlook and risks (Chapter 1), followed by a detailed exploration of a specific topic (Chapter 2). This edition focuses on fuel subsidies and …
This paper presents a status report of the BRICS nations (Brazil, Russia, India, China, and South Africa) on two crucial development parameters—inequality and poverty—that have a significant bearing on the Sustainable Development Goals (SDGs; especially SDG-1 and SDG-10). The paper tracks the origins and movements of absolute and relative poverty, …
The Annual Development Effectiveness Review (ADER) assesses contributions the African Development Bank (‘the Bank’) has made to its five development goals: Light Up and Power Africa (Chapter 1), Feed Africa (Chapter 2), Industrialise Africa (Chapter 3), Integrate Africa (Chapter 4), and Improve the Quality of Life for the People of …
The African Economic Outlook 2023 underscores the urgency to fast-track climate action and green transitions to drive the continent’s inclusive and sustainable development. The Bank’s new research, based on African countries’ latest submitted Nationally Determined Contributions (NDCs), estimates that private sector financing will need to grow annually by 36 percent …
Prospects for a robust global economic recovery remain dim as the lingering effects of the COVID-19 pandemic carry on, according to the UN’s latest World Economic Situation and Prospects report. Risks of a prolonged period of low growth stand, amid stubborn inflation, rising interest rates, and heightened uncertainties, in addition …
