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Publication Guinea-Bissau Human Capital Review(Washington, DC: World Bank, 2025-03-06) World BankThis report presents the findings of a study to analyze Guinea-Bissau’s HCI indicators and its human capital policies across three sectors - health, education, and social protection. The report highlights a deep analysis of sociodemographic variables such as age, sex, income, and geographical disparities, based on the available data. It identifies critical gaps and constraints in the development of human capital and provides policy recommendations for improving human capital outcomes; these will inform upcoming World Bank operations in the country’s social sector.Publication Timor-Leste Economic Report: From Resources to Results - Transforming Public Spending to High Growth(Washington, DC: World Bank, 2025-02-12) World BankTimor-Leste faces a defining moment in its economic journey. As the country seeks to transition from petroleum dependency to a more diverse and resilient economy, the stakes cannot be higher. The Petroleum Fund, a lifeline that has sustained much of the national budget, risks depletion by 2035, based on recent Ministry of Finance estimates, unless there are urgent reforms. Ambitious national goals - such as upcoming ASEAN membership - reflect the country’s aspirations to integrate globally and broaden its growth horizons. Yet, these opportunities are weighed down by significant fiscal challenges. More specifically, an expanding national budget that raises concerns about fiscal sustainability and the efficiency of public spending. The question is clear: how can Timor-Leste spend better to fuel sustainable growth while preserving fiscal stabilityPublication São Tomé and PrÃncipe - Unpacking Migration Dynamics: Critical Issues and Policy Recommendations(Washington, DC: World Bank, 2025-01-16) Monsalve Montiel, Emma Mercedes; Kroll, Guillaume; Barros Barbosa, Barbara; Mawete, Delfim Mampassi E. Martins; Boly, MohamedSão Tomé and PrÃncipe (STP), a lower-middle-income small island nation, is undergoing a significant wave of emigration, primarily driven by limited job opportunities and economic prospects, particularly among younger generations. This paper explores migration's drivers, dynamics, and impacts on the country’s economy and social fabric, drawing on a combination of primary and secondary data sources. These include local emigration records, the national social registry, the latest household budget survey, global estimates of migrant stocks and remittance flows, and focus group discussions with migrant families. The findings reveal that at least 18 percent of STP’s population now resides abroad, with numbers growing rapidly. Migration is increasingly dominated by young individuals moving to Portugal, attracted by shared linguistic and cultural ties and facilitated by a recent Community of Portuguese Language Countries mobility agreement. However, migration currently delivers limited economic benefits to STP, as remittances are low, irregular, and constrained by high transfer costs, inadequate financial infrastructure, and migrants’ precarious employment abroad. Socially, migration may also disrupt family structures, particularly affecting children who face challenges in care and emotional wellbeing. Policy recommendations include enhancing migrants’ employability, exploring bilateral migration partnerships, strengthening migration management systems, improving remittance services, and supporting families who remain in the country through social assistance.Publication Cabo Verde Circular Economy Diagnostic, September 2024(Washington, DC: World Bank, 2025-01-07) World BankThis report identifies circular economy (CE) opportunities in the tourism sector in Cabo Verde, The Gambia, and Säo Tomé & Principe. The project focuses on enhancing circularity by advocating for policy changes, phasing out single-use plastics (SUP), and promoting innovative infrastructure and sustainable financing solutions. The Cabo Verde report provides a thorough diagnostic to identify opportunities and gaps within key infrastructure systems, including materials, waste, energy, and water, tailored to Cabo Verde's unique geographic and economic context. It includes firm audits and an extensive market assessment to determine the scope and size of CE products within the tourism industry. The report also outlines the results of the Multi-Criteria Analysis (MCA) to prioritize prospective business cases for further evaluation of their financial and technical viability. Additionally, it presents an overview of the Institutional & Regulatory Analysis and Roadmap, highlighting key market opportunities such as in-vessel composting, large water dispensers, rooftop solar PV, and greywater recycling. The findings emphasize the potential for CE interventions to foster economic growth, environmental sustainability, and resilience in Cabo Verde's tourism sector.Publication São Tomé and PrÃncipe Circular Economy Diagnostic(Washington, DC: World Bank, 2025-01-07) World BankIn Säo Tomé and Principe, tourism is seen as a crucial sector for driving economic growth. Sustainable tourism is prominently featured in various diagnostic reports and national strategies concerning Säo Tomé and Principe. The World Bank's Systematic Country Diagnostic underscores the importance of targeting luxury markets for development. These markets can yield higher revenue per visitor and can address both environmental concerns and the challenges posed by the country's limited and expensive connectivity. The strategic focus on sustainable tourism in Säo Tomé and Principe revolves around capitalizing on its natural assets while maintaining environmental considerations, strengthening local supply chains, and improving ecosystem protection and management. These measures not only support economic growth but also contribute to the resilience and long-term prosperity of the nation.Publication Data for Better Governance: Building Government Analytics Ecosystems in Latin America and the Caribbean(Washington, DC: World Bank, 2024-11-25) Santini, Juan Francisco; Sacco Capurro, Flavia; Rogger, Daniel; Lundy, Timothy; Kim, Galileu; de León Miranda, Jorge; Cocciolo, Serena; Casanova, ChiaraGovernments in the Latin America and the Caribbean (LAC) region face significant developmental and institutional challenges, such as slowing growth, fiscal constraints, and inefficiencies in the public sector. At the same time, governments have invested significantly in government technologies (GovTech), making LAC a global pioneer in management information systems (MISs). This investment creates an opportunity for governments to leverage MIS data to strengthen the functioning of government and achieve development goals—that is, government analytics. This report provides a conceptual framework to assess and provide guidance on the regional government analytics agenda and how to harvest the benefits of GovTech investments. It examines how government analytics can inform policy making and improve accountability and efficiency, drawing on survey data and successful applications of government analytics. The report also explores the enabling conditions for government analytics—data infrastructure and analytical capabilities—and how to strengthen them. Finally, it provides practical guidance on how to develop a holistic government analytics agenda. "Data for Better Governance: Building Government Analytics Ecosystems in Latin America and the Caribbean" is part of the Government Analytics collection, which began with The Government Analytics Handbook (2023). This growing series features frontier evidence and expert insights on how to leverage data to improve government performance.Publication Subnational Business Ready in the European Union 2024: Portugal(Washington, DC: World Bank, 2024-11-06) World BankThis year, the Subnational B-READY series cover 40 cities in six EU Member States—Bulgaria, Croatia, Hungary, Portugal, Romania, and the Slovak Republic—covering 36 European regions. In Portugal, the Subnational B-READY covers eight cities in seven regions at the NUTS2 level: Braga (North), Coimbra (Center), Évora (Alentejo), Faro (Algarve), Funchal (Autonomous Region of Madeira), Lisbon (Lisbon Metropolitan Area), Ponta Delgada (Autonomous Region of the Azores), and Porto (North). The primary objective of the Subnational B-READY studies is to identify and address regional disparities in regulatory environments and to promote reforms that foster private sector growth, job creation, and sustainability. The Subnational B-READY series delivers a rigorous, data-driven analysis of business climates at the local level, offering actionable insights for policy makers.Publication Saving Lives While Raising Revenue: Opportunities in Brazil’s Reform of Indirect Taxes to Improve Tobacco, Alcohol, and Sugar-Sweetened Beverages (SSBs) Excise Taxes(Washington, DC: World Bank, 2024-11-04) Maldonado, N.; Blecher, E.; Fleischhaker, C.Taxes and prices of tobacco products, alcoholic beverages, and sugar-sweetened beverages (SSBs) in Brazil are low compared to international peers. The ongoing landmark reform of indirect taxes (PLP 68/2024 and forthcoming Ordinary Law) provides an excellent opportunity to put in place well-designed excise taxes on tobacco, alcohol and SSBs.If well implemented, reforms of the tax structure and increases in tax rates can make them more effective at improving population health and raising additional tax revenue. Global evidence to support reforms is strong, supporting the use of well-designed and administered health taxes.Following global best practices, it is recommended that health taxes are focused on specific taxes or, when applied in mixed systems, that the specific taxes comprise a larger component of the excise tax than the ad valorem component. Tax rates, particularly for specific taxes, need to be increased significantly to align Brazil with the prices of international peers, and indexed to inflation plus three percentage points to protect real values of tax over time, and to reduce the affordability of tobacco, alcohol, and SSBs.Publication MIGA Annual Report 2024(Washington, DC: Multilateral Investment Guarantee Agency, 2024-10-31) Multilateral Investment Guarantee AgencyIn fiscal year 2024 (FY24), the Multilateral Investment Guarantee Agency (MIGA) issued a record $8.2 billion in new guarantees across 40 projects. Through these projects,MIGA remained focused on encouraging private investment to facilitate economic development in host countries by helping clients manage and mitigate noncommercial risks. In FY24, 95 percent of the 40 projects supported at least one of MIGA’s strategic priority areas: Its commitment to International Development Association (IDA)–eligible countries was substantial, supporting 26 projects (65 percent of total projects supported). MIGA’s engagement in fragile and conflict-affected situations (FCS) was also notable, supporting 10 projects, representing 25 percent of the total projectssupported. And climate finance initiatives were a significant focus this year, with MIGA issuing guarantees for 30 projects (representing 75 percent of the total projects). As a result, the FY24 issuances are expected to achieve the following: Provide 2.2 million people with access to mobile internet; add 12.2 million new subscribersto mobile money services; generate $657.8 million in tax revenueper year to host governments; and avoid more than 647,000 metric tons ofcarbon dioxide (CO2) emissions annually.Publication World Bank Annual Report 2024(Washington, DC: World Bank, 2024-10-25) World BankThis annual report, which covers the period from July 1, 2023, to June 30, 2024, has been prepared by the Executive Directors of both the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)—collectively known as the World Bank—in accordance with the respective bylaws of the two institutions. Ajay Banga, President of the World Bank Group and Chairman of the Board of Executive Directors, has submitted this report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.