Global commodity markets are being reshaped in lasting ways as a result of COVID-19, the war in Ukraine, and the impacts of climate change—a transformation that is likely to have profound implications for developing economies over the coming decades, a new World Bank study has found. The study, Commodity Markets: Evolution, Challenges, and Policies, offers the first […]
Global metal prices are projected to increase 16 percent in 2022 and ease somewhat in 2023, but risks to the outlook are skewed to the upside, emanating from further disruptions of commodity flows into and out of Russia, the World Bank said in its latest Commodity Markets Outlook. It said key downside risks include prolonged […]
The war in Ukraine has dealt a major shock to commodity markets, altering global patterns of trade, production, and consumption in ways that will keep prices at historically high levels through the end of 2024, according to the World Bank’s latest Commodity Markets Outlook report. The increase in energy prices over the past two years has been […]
The Heads of the World Bank Group (WBG), International Monetary Fund (IMF), United Nations World Food Program (WFP), and World Trade Organization (WTO) have called for urgent action on food security. “The world is shaken by compounding crises. The fallout of the war in Ukraine is adding to the ongoing COVID-19 pandemic that now enters […]
As the devastating war in Ukraine rages on causing untold suffering, its impact is being felt far beyond its borders, battering a world emerging from a pandemic that has hit developing countries hardest. Among the most critical is the food price crisis, calling into question the affordability and availability of wheat and other essential staples. There […]
To support and strengthen the financing ecosystem or mechanisms in the agricultural domain of the state, Assam Agribusiness and Rural Transformation Project (APART) has established the first of its kind initiative, the Assam AgriFin “Xamahar”. This fund has been conceptualised by APART, a World Bank-financed project of the Assam government. Xamahar is a competitive funding […]
China’s recovery has broadened as economic activity has continued to normalise, the World Bank said, adding that its economic growth is projected to reach 8.5 percent this year before slowing to 5.4 percent in 2022, as low base effects dissipate and the economy returns to trend growth. Improved consumer and business confidence and better labor market […]
Hunger has been rising since 2014, due to conflict, economic shocks, and weather extremes. According to the FAO, 688 million people were hungry in 2019, compared to 624 million in 2014. The COVID-19 pandemic has worsened food insecurity by disrupting supply chains. Together with currency depreciation and other factors, this in turn has driven up […]
India’s growth for FY 2021/22, which began in April 2021, is forecast at 8.3%, supported by plans for higher spending on infrastructure, rural development, and health, and a stronger-than-expected recovery in services, the World Bank said. “Better growth prospects since January, however, masks significant damage to economic activity from COVID19. The economy is expected to […]
The global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies, but many emerging market and developing economies are still struggling with the COVID-19 pandemic and its aftermath, the World Bank said in its latest Global Economic Prospects report Despite […]
