Finance & Economics

Jordan: Acceleration of Investment-Enabling Reforms Needed for Resilient Recovery and Inclusive Job Creation

Despite a challenging global and domestic environment, Jordan’s growth during the first half of 2022 accelerated to 2.7 percent, propelled by a strong recovery of tourism, the full reopening of the economy, and improving exports. Yet, the rebound in growth was only modestly reflected on labor market indicators. An acceleration of structural reforms is needed to address long-standing challenges to private sector-led growth and support the economic inclusion of women, youth, and other segments of workers in the formal labor market.

New World Bank Financing Aims to Strengthen Indonesia's Tuberculosis Response Program

On December 19, 2022, the World Bank's Board of Executive Directors has approved a $300 million loan to the Indonesian government on December 19, 2022, to improve coverage, quality and efficiency of tuberculosis (TB) response in Indonesia.

Tajikistan to Enhance Sustainable and Resilient Economic Growth with World Bank Support

The $50 million grant will support key reforms aimed at improving the business environment, strengthening public sector governance and enhancing resilience to shocks

The World Bank’s Board of Executive Directors approved today $50 million in grant financing from the International Development Association for the Tajikistan Development Policy Operation (DPO). The DPO will support Tajikistan’s reform program, aimed at accelerating sustainable and resilient economic growth to support poverty reduction and improvements in the quality of people’s lives.

World Bank Approves US$100 Million for Barbados’ Green and Resilient Recovery

The World Bank approved US$100 million in financing to support Barbados’ low carbon economic development and resilience to climate change, on January 10.

Impressive Demand for World Bank’s EUR 3 Billion 10-Year Sustainable Development Bond

The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) priced its first Euro-denominated benchmark of 2023, a EUR 3 billion 10-year Sustainable Development Bond maturing in January 2033. IBRD’s Euro benchmark transaction attracted over 100 orders totaling more than Euro 4.3 billion from European and global investors.

Sharp, Long-lasting Slowdown to Hit Developing Countries Hard

2023 global growth to slow to 1.7% from 3% expected six months ago

Global growth is slowing sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, according to the World Bank’s latest Global Economic Prospects report.

Algerian Economy: Staying the Course for Transition

Algeria’s recovery continues, but non-hydrocarbon sector is key for sustainable growth, says World Bank report.

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 growth, according to the latest edition of the World Bank's Algeria Economic Update.

India's Supreme Court Upholds 2016 Currency Ban

India's top court on Monday upheld a 2016 move by the government to demonetize 86% of the country's circulating cash, a decision the court said that was taken in consultation with India's central bank.

New World Bank Financing Will Expand and Strengthen Egypt’s Flagship Social Protection Program

The World Bank on December 22 announced US$500 million in financing to expand and strengthen Egypt’s flagship Social Safety Net Program, also known as Takaful and Karama. The new financing marks a third phase of collaboration between the World Bank and the Government of Egypt to support the establishment of an efficient and effective cash transfer program and to introduce beneficiaries to interventions that generate sustainable incomes and help people to graduate out of poverty.

IMF Executive Board Concludes 2022 Article IV Consultation with India

On November 28, The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with India.

The economy has rebounded from the deep pandemic‑related downturn. Real GDP grew by 8.7 percent in FY2021/22, bringing total output above pre‑pandemic levels. Growth has continued this fiscal year, supported by a recovery in the labor market and increasing credit to the private sector. New COVID cases have fallen to low levels, supported by high vaccination rates. The free administration of booster shots and broader booster eligibility criteria should help improve vaccine coverage.