The 2017 Unbreakable report made the case that disaster losses disproportionately affect poor people. The Caribbean hurricane season of 2017 was a tragic illustration of this. Two category 5 hurricanes wreaked destruction on numerous small islands, causing severe damages on islands like Barbuda, Dominica, and Saint Martin.
Global migration has lifted millions out of poverty and boosted economic growth, a new World Bank report finds. But destination countries risk losing out in the global competition for talent and leaving large gaps in their labor markets by failing to implement policies that address labor market forces and manage short-run economic tensions.
Climate financing by the world’s six largest multilateral development banks (MDBs) rose to a seven-year high of $35.2 billion in 2017, up 28 per cent on the previous year.
In June 2015, about 53,000 people were affected by unusually severe floods in the Greater Accra Metropolitan Area, Ghana. The real impact of such a disaster is a product of exposure ("Who was affected?"), vulnerability ("How much did the affected households lose?"), and socioeconomic resilience ("What was their ability to cope and recover?").
Despite recent softening, global economic growth will remain robust at 3.1 percent in 2018 before slowing gradually over the next two years, as advanced-economy growth decelerates and the recovery in major commodity-exporting emerging market and developing economies levels off, the World Bank said.
Overall, the economy has been performing well, with growth estimated at 4.2 % in 2017 and projected at 5.0 % in 2018, according to the latest edition of the World Bank’s Madagascar Economic Update. The report looks at the recent economic developments and presents medium-term outlook for the country.
The report emphasizes the importance of breaking the cycle of inequitable investment in human capital and lack of well-paying job opportunities that trap the poor in poverty, generation after generation. Children from poor households start life at a disadvantage.
Recent policy measures have contributed to macroeconomic stability. However, with significant risks stemming from both domestic and external fronts, the balance of risks is tilted towards downside. To sustain growth,
Rwanda's economy rebounded in the second half of 2017. The rebound, driven by improved exportperformance and revitalized agriculture, pushed annual growth to 6.1 percent and led to upwardrevisions of the growth projections for 2018 and 2019.
In Malawi, the impact of extreme weather events has significantly contributed to the recurrent crises of food insecurity. This analytical work was undertaken to assist the Government of Malawi to strengthen its efforts toward effectively responding to extreme weather-related events, especially El Niño and La Niña phenomena.
