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 …
Decentralisation has been one of the most prominent public sector reforms endorsed by international institutions. It has been initiated in a large number of developing economies, particularly in sub-Saharan Africa. To date, few studies propose a quasi-experimental evaluation of its capacity to contribute to local development, or do so but …
In January 2023, out of 36 African currencies reviewed, 29 currencies depreciated against the USD on annual basis, while 7 currencies recorded appreciations (see Table 19). The highest currency depreciation against USD was recorded for the Zimbabwean Dollar at 57.5 percent. Of the seven currencies that recorded appreciations against the …
The January 2023 World Economic Outlook Update projects that global growth will fall to 2.9 percent in 2023 but rise to 3.1 percent in 2024. The 2023 forecast is 0.2 percentage point higher than predicted in the October 2022 World Economic Outlook but below the historical average of 3.8 percent. …
The world output growth is projected to decelerate from an estimated 3 per cent in 2022 to 1.9 per cent in 2023, marking one of the lowest growth rates in recent decades, according to this report by the United Nations. A series of severe and mutually reinforcing shocks — the …
Africa’s Macroeconomic Performance and Outlook is the African Development Bank Group’s new biannual publication to be released in the first and third quarters of each year. The publication will offer policymakers, global investors, researchers, and other development partners an up-to-date evidence-based assessment of the continent’s recent macroeconomic performance and short-to-medium-term …
Population ageing is a defining global trend of the time. People are living longer, and more are older than ever before. Spectacular improvements in health and survival and reductions in fertility have driven this momentous shift, which has begun or is expected to begin soon in all countries and areas. …
Global growth is projected to decelerate sharply, reflecting synchronous policy tightening aimed at containing very high inflation, worsening financial conditions, and continued disruptions from Russia’s invasion of Ukraine. Investment growth in emerging market and developing economies (EMDEs) is expected to remain below its average rate of the past two decades. …
Algeria's economy continued to recover in the first half of 2022, led by a return of oil production to pre-pandemic levels and a continued recovery of the service sector along with a more vigorous agricultural activity. The recovery should continue into 2023, supported by the nonhydrocarbon sector and public expenditure …
This paper seeks to fill the gap with regard to the quantification of the impact of climate change on future levels of poverty across different income thresholds and scenarios. Climate change is widely understood to be a significant driver of future patterns of human well-being, with numerous studies concluding that …
This eighteenth edition of the Tanzania Economic Update includes a special focus section on improving the quality of water supply, sanitation, and hygiene (WASH) services that could have a transformative impact on Tanzania’s social and economic development. While such investments can be expensive to undertake, their costs are dwarfed by …
South Asia’s Path to Sustainable and Inclusive Growth highlights the remarkable development progress in South Asia and how the region can advance in the aftermath of the COVID-19 pandemic. Steps include a renewed push toward greater trade and financial openness, while responding proactively to the distributional impact and dislocation associated …
Nigeria’s economy needs to grow faster to reduce poverty. Despite favorable global oil prices, “business as usual” economic management is not delivering desired outcomes and, even if a crisis is avoided in the near-term, long-standing policy and institutional challenges are persisting and severely constraining the economy. This hinders the prospects …
This study explores the benefits that can accrue if cities prioritise active mobility and public transport. It quantifies the benefits of walking, cycling, and public transport in the Africa region, comparing alternate investment scenarios for the 188 largest African cities. Under a Business-as-Usual (BAU) scenario, cities would continue to focus …
The Global Wage Report 2022-2023 reveals how the severe inflationary crisis, combined with a slowdown in economic growth - driven in part by the war in Ukraine and the global energy crisis - have affected pay packets worldwide, including in the G20 leading industrial nations. It is estimated that in …
India’s economy has demonstrated resilience despite a challenging external environment, says the World Bank in its latest India Development Update, a World Bank flagship publication. The report titled “Navigating the Storm”, finds that while the deteriorating external environment will weigh on India’s growth prospects, the economy is relatively well positioned …
Ghana is highly vulnerable to climate change due to its location along the Atlantic Ocean in a tropical climate zone. This increasingly exposes the country to the risks of climate change including rising sea levels, drought, higher temperatures and erratic rainfall, which negatively impact the socio-economic development of the country. …
The Gambia is vulnerable to the impacts of climate change from increases in temperature, decreases in rainfall, and a rise in the sea level, which affect millions of people and make adaptation more urgent. Rapid changes in climate tend to have severe effects on a country’s key economic sectors such …
Liberia, due to its location on the west coast of Africa, within the tropical rain forest climate belt with heavy rain, is faced with high climate change risks, including cyclones, floods and rising sea levels. Its vulnerability to climate variability and climate change is affecting millions of people thus making …
The economic outlook for Southern Africa will be affected by an additional threat that arises from global warming. The 13 countries are intertwined in a climate-water-energy-food nexus with a high reliance on climate-sensitive sectors. Consistent with the shift in global climate, Southern Africa is likely to observe a rise in …
Chapter 1 of this report looks at these conditions in some length. The analysis covers all the 15 member countries of the Economic Community of West African States (ECOWAS): Benin, Burkina Faso, Cabo Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. …
