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 least developed countries (LDCs) are at a decisive stage in their economic development. Climate change requires that they pursue sustained economic growth while balancing needed climate actions against inescapable trade-offs with sustainable development. This technical paper argues that the need to chart a path to decarbonization is most critical …
Asia and the Pacific remains a dynamic region despite the somber backdrop of what looks to be shaping up as a challenging year for the world economy. Global growth is poised to decelerate as rising interest rates and Russia’s war in Ukraine weigh on activity. Inflation remains stubbornly high, and …
The paper analyzes how patent-economic growth relationship changes as population dynamics change. The literature on this relationship has not focused on the role of population growth rate, despite data showing that countries’ population growth trends have recently shifted from positive to declining and even negative. Obtain three main results: First, …
The Gabon Economic Update is an annual World Bank publication that presents an overview of the evolving macroeconomic position in Gabon, followed by a detailed exploration of a specific topic in each edition. The first chapter analyzes recent economic developments, as well as the macroeconomic outlook and risks for Gabon’s …
Growth in sub-Saharan Africa will decline to 3.6 percent this year. Amid a global slowdown, activity is expected to decelerate for a second year in a row. Still, this headline figure masks significant variation across the region. The funding squeeze will also impact the region’s longer-term outlook. A shortage of …
The United Nations Trade and Development Conference (UNCTAD) in its latest Trade and Development Report Update warns that developing countries are facing years of difficulty as the global economy slows down amid heightened financial turbulence. Annual growth across large parts of the global economy will fall below the performance registered …
The International Monetary Fund (IMF) forecast in their latest World Economic Outlook published, that global growth will bottom out at 2.8 percent this year before rising modestly to around three percent in 2024, representing a 0.1 per cent fall on its January projections. Global inflation is also heading down, signalling …
Economies in the Middle East and North Africa (MENA) are expected to grow at a slower pace in 2023, as double-digit food inflation adds pressure on poorer households and the impact of food insecurity can span generations, according to the World Bank’s latest economic update. Titled "Altered Destinies: The Long-Term …
The Survey, published annually since 1947, is a flagship publication produced by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). It provides analyses to guide policy discussion on the current and emerging socio-economic issues and policy challenges to support sustainable development in Asia and the …
Growth across Sub-Saharan Africa remains sluggish, dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp deceleration of investment growth, a World Bank report said. In the face of dampened growth prospects and rising debt levels, African governments must sharpen …
India’s growth continued to be resilient, despite some signs of a moderation in the second half of FY22/23. Global economic activity slowed in the second half of 2022 on the back of synchronized monetary policy tightening, deteriorating financial conditions and ongoing inflationary pressures. However, the reopening of China’s economy and …
This book examines the role for natural resource wealth in driving Africa’s economic transformation and the implications of the low-carbon transition for resource-rich economies. Resource wealth remains central to most Sub-Saharan African economies, and significant untapped potential is in the ground. Subsoil assets—such as metals, minerals, oil, and gas—are key …
This publication highlights brighter economic prospects for Asia and the Pacific amid ongoing challenges. It forecasts growth across the region’s developing economies of 4.8% this year and in 2024, up from 4.2% in 2022. The reopening of the People’s Republic of China (PRC) will boost regional economic growth through supply …
In February 2023, Stock Market indicators from selected African markets, showed mixed trends on monthly and annual basis. On annual basis, stock market indices in Egypt, Nigeria, Tunisia and South Africa improved by respective rates of 52.6 percent, 17.7 percent, 13.6 percent and 2.2 percent in February 2023 compared to …
This new report from the Global Wind Energy Council (GWEC) highlights the enormous potential of embracing the potential of wind energy. In just five years, five developing countries could add 3.5 GW of capacity, an extra US$12.5 bn for their economies and create 130,000 FTE work-years. The five countries – …
Progress towards the Sustainable Development Goals (SDGs) in the Global South is being threatened by the mounting challenges facing developing countries due to the repercussions of the COVID-19 pandemic and the prolonged Russia-Ukraine war, and receding aid from traditional donor countries. As the achievement of the SDGs remains more relevant …
The end of extreme poverty may finally be achieved by 2050, spurred by economic growth in low-income countries, according to a new economic forecast. Though the Covid pandemic began to reverse progress in eradicating extreme poverty, and additional challenges will emerge, the damage may have a very limited impact on …
With economic growth reaching 3.7 percent in 2022, Mozambique’s economy is gaining momentum amid a challenging global context. Agriculture and services saw a good performance, owing to higher agricultural productivity and the full resumption of mobility. Increased external demand and prices for Mozambique’s key export commodities, notably coal and aluminum …
The Rwandan economy continued to achieve strong growth in 2022 despite global headwinds and an unprecedented increase in food prices, according to this20th edition of the Rwanda Economic Update report. Rwanda’s GDP grew by 8.4 percent in the first three quarters of 2022, after reaching 11 percent in 2021. Growth …
Digital transformation is under way in the Pacific and presents both opportunities and challenges for the region. Improvements in digital connectivity across the region are converging with growing opportunities for e-commerce, digital payments and digital trade. For some businesses, electronic commerce is opening access to new domestic, regional and international …
