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World Development Report 2022: Finance for an Equitable Recovery
(Washington, DC: World Bank, 2022-02-15) World Bank
World Development Report 2022: Finance for an Equitable Recovery examines the central role of finance in the economic recovery from COVID-19. Based on an in-depth look at the consequences of the crisis most likely to affect low- and middle-income economies, it advocates a set of policies and measures to mitigate the interconnected economic risks stemming from the pandemic—risks that may become more acute as stimulus measures are withdrawn at both the domestic and global levels. Those policies include the efficient and transparent management of nonperforming loans to mitigate threats to financial stability, insolvency reforms to allow for the orderly reduction of unsustainable debts, innovations in risk management and lending models to ensure continued access to credit for households and businesses, and improvements in sovereign debt management to preserve the ability of governments to support an equitable recovery.
The State of the Global Education Crisis: A Path to Recovery
(UNESCO, Paris, UNICEF, New York, and World Bank, Washington, DC, 2021-12-10) UNESCO; UNICEF; World Bank
Even before Coronavirus disease 2019 (COVID-19) hit, the world was already experiencing a learning crisis. 258 million primary- and secondary-school age children and youth were out of school. Many children who were in school were learning very little: 53 percent of all ten-year-old children in low- and middle-income countries were experiencing learning poverty, meaning that they were unable to read and understand a simple age-appropriate text at age 10. This report spotlights how COVID-19 has deepened the education crisis and charts a course for creating more resilient education systems for the future. Section one gives introduction. Section two documents COVID-19’s impacts on learning levels by presenting updated simulations and bringing together the latest documented evidence on learning loss from over 28 countries. Section three explores how the crisis has widened inequality and had greater impacts on already disadvantaged children and youth. Section four reviews evidence on learning recovery from past crises and highlights current policy responses that appear most likely to have succeeded in stemming learning losses, while recognizing that the evidence is still in a nascent stage. The final section discusses how to build on the investments made and the lessons learned during the pandemic to accelerate learning recovery and emerge from the crisis with increased education quality, resilience, and equity in the longer term.
Managing for Learning: Measuring and Strengthening Education Management in Latin America and the Caribbean
(Washington, DC: World Bank, 2021-04-28) Adelman, Melissa; Lemos, Renata
How can countries make sustainable gains in student learning at scale? This is a pressing question for Latin America and the Caribbean (LAC) – and the developing world more broadly – as countries seek to build human capital to drive sustainable growth. Significant progress in access has expanded coverage such that nearly all children in the region attend primary school, but many do not gain basic skills and drop out before completing secondary school, in part due to low-quality service delivery. The preponderance of evidence shows that it is learning – and not schooling in and of itself – that contributes to individual earnings, economic growth, and reduced inequality. For LAC in particular, low levels of human capital are a critical factor in explaining the region’s relatively weak growth performance over the last half century. The easily measurable inputs are well-known, and the end goal is relatively clear, but raising student achievement at scale remains a challenge. Why? We propose that part of the answer lies in management – the processes and practices that guide how inputs into the education system are translated into outputs, and ultimately outcomes. While management (and related concepts, such as institutions, governance, or leadership) is often mentioned as an important factor in education policy discussions, relatively little quantitative research has been done to define and measure it. And even less has been done to unpack how and how much management matters for education quality. In this study, we begin filling these gaps, with new conceptual and empirical contributions that can be synthesized in four key messages: (1) Student learning is unlikely to improve at scale without better management. (2) Management affects how well every level of an education system functions, from individual schools to central technical units, and how well they work together. (3) Management quality can be measured and should be measured as a catalyst for improvement. (4) Several pathways to strengthening management are open to LAC countries now, with the potential for significant results. The study elaborates on each of these messages, synthesizing recent data and research and presenting the results of six new papers written to inform this report. The target audience for the Executive Summary is policymakers across LAC (and beyond) who are seeking approaches to strengthening their systems at scale. The target audience for the study overall includes the researchers and technical advisors who work on topics related to education management in development organizations, governments, think tanks, and other institutions across LAC.
Renewing with Growth
(Washington, DC: World Bank, 2021-03-29) World Bank
Latin America and the Caribbean suffered the largest death toll from Covid‐19 across developing regions and the sharpest decline in economic activity. With fewer school days and lower employment rates, with higher public debt and more firms under stress, the effects could be long‐lasting. The crisis also triggered large‐scale economic restructuring, with productivity higher in the expanding than in the contracting sectors. Accelerated digitization could instill dynamism in finance, trade and labor markets, but it may amplify inequality within and across the countries in the region. Technology could transform the energy sector as well. Latin America and the Caribbean has the cleanest and potentially cheapest electricity generation matrix of all developing regions. But its electricity is the most expensive, due mainly to inefficiencies. Distributed generation within countries and electricity trade across countries, could make energy greener and cheaper, provided that the pricing is right.
Women, Business and the Law 2021
(Washington, DC: World Bank, 2021-02-23) World Bank
Women, Business and the Law 2021 is the seventh in a series of annual studies measuring the laws and regulations that affect women’s economic opportunity in 190 economies. The project presents eight indicators structured around women’s interactions with the law as they move through their lives and careers: Mobility, Workplace, Pay, Marriage, Parenthood, Entrepreneurship, Assets, and Pension. This year’s report updates all indicators as of October 1, 2020 and builds evidence of the links between legal gender equality and women’s economic inclusion. By examining the economic decisions women make throughout their working lives, as well as the pace of reform over the past 50 years, Women, Business and the Law 2021 makes an important contribution to research and policy discussions about the state of women’s economic empowerment. Prepared during a global pandemic that threatens progress toward gender equality, findings on government responses to COVID-19 and pilot research related to childcare and women’s access to justice.
The Gendered Impacts of COVID-19 on Labor Markets in Latin America and the Caribbean
(World Bank, Washington, DC, 2021-01) Cucagna, Emilia; Romero, Javier
High-frequency phone surveys conducted in 13 countries in Latin America and the Caribbean (LAC) show that women were 44 percent more likely than men to lose their jobs at the onset of Coronavirus disease 2019 (COVID-19). As the crisis evolved, temporarily unemployed workers started to go back to work. But the difference in job losses among women and men persisted. Also, highly female-intensive sectors - trade, personal services, education, and hospitality - explain 56 percent of all job losses. And the presence of school-age children at home is linked with a rise in job losses among women, but not among men.
Guidance Note on Using Learning Assessment in the Process of School Reopening
(World Bank, Washington, DC, 2020-11-21) Levin, Victoria; Luna Bazaldua, Diego; Liberman, Julia
As countries consider how to reopen schools safely in the context of COVID-19 (coronavirus), one key question is how to assess students' learning to support learning recovery. The expected magnitude of learning losses, particularly among students with the highest needs, makes it essential for key stakeholders in the education process — policymakers, teachers, school principals, students, and their parents — to determine where students are in their learning trajectory relative to what had been expected prior to the pandemic, so they can adjust instruction and allocate resources accordingly. To collect this information, stakeholders can rely on student learning assessment, which is an essential feedback mechanism in the education system. This note provides key steps that countries with different availability of resources should consider in developing their plans for learning assessment activities to support learning recovery in the context of school reopening. Throughout this note, assessment of student learning is defined as gathering and evaluating information on what students know, understand, and can do to make informed decisions about the next steps in the educational process. In addition, some considerations and country examples for the implementation of high-stakes examinations are discussed. This note concludes with examples of learning assessment activities that countries around the world are planning or implementing during the COVID-19 pandemic. Likewise, this note highlights important lessons that can support resilience to future emergencies and crises.
Remarks to the World Food Programme Executive Board
(World Bank, Washington, DC, 2020-11-16) Malpass, David
World Bank Group President David Malpass spoke about how in its first year, the Coronavirus (COVID-19) pandemic is pushing one hundred fifty million people into extreme poverty, ending two decades of steady progress on poverty reduction. Coronavirus (COVID-19) has altered every aspect of commercial activity and trade, shrinking gross domestic products (GDP), fueling a debt crisis and triggering severe food crises. He cautioned about the long-standing problems in the global food system, and how World Food Programme (WFP) and Food and Agriculture Organization (FAO) has estimated that the number of people facing acute food insecurity will double to two hundred sixty-five million people in 2020. He spoke about working along with IMF on effective approaches for debt reduction and debt resolution to address low income countries’ unsustainable debt burdens. He highlighted on establishing a fast-track Coronavirus (COVID) response that has delivered emergency support to one hundred twelve countries so far. He explained that in response to the global food security crisis, the World Bank Group has significantly stepped up investments to strengthen food security in client countries.
Speech at the 2020 Annual Meetings Plenary
(World Bank, Washington, DC, 2020-10-15) Malpass, David
David Malpass, President of the World Bank, spoke about what the World Bank Group has accomplished since last year’s Annual Meetings, particularly the response to COVID-19 and progress made on debt transparency. The COVID-19 pandemic’s toll has been enormous, and people in the poorest countries are likely to suffer the longest and hardest. In response, the approach at the World Bank Group has been comprehensive, focused on saving lives, protecting the poor and vulnerable, working toward sustainable business growth, and rebuilding in better ways. He touched on the four most urgent aspects of this work: 1) poverty and inequality; 2) human capital; 3) debt burdens; and 4) fostering an inclusive and resilient recovery. The scale of the challenges ahead is staggering. IDA-19’s three-year envelope of USD82 billion will not be nearly enough to meet the needs of the world’s poorest countries at this desperate time. IDA has taken broad and fast action to frontload IDA-19 resources and provide surge financing this year to support the initial efforts to address the economic and health impacts of COVID. A USD25 billion supplemental COVID emergency financing package will avert a “financing cliff” in FY22-23 and make available additional resources to IDA countries to support their recoveries.
Remarks at the Mobilizing with Africa II Event
(World Bank, Washington, DC, 2020-10-09) Malpass, David
David Malpass, President of the World Bank, remarked that the Coronavirus (COVID-19) pandemic and global recession are wiping out more than a decade of poverty alleviation. He focused on crisis response and supporting recovery.