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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the interconnected economic risks stemming from the pandemic—risks that may become more acute as stimulus measures are withdrawn at both the domestic and global levels.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.
Tunisia Economic Monitor, Winter 2021: Economic Reforms to Navigate Out of the Crisis

(World Bank, Washington, DC, 2022-01-20) World Bank

The Economic Monitor examines four possible factors behind Tunisia’s slow recovery. First, the drop in mobility related to the pandemic may have been more harmful in Tunisia. However, mobility in Tunisia has dropped to a similar extent as other countries and it has now returned to pre-pandemic levels following the acceleration in the vaccination campaign since July. If anything, the mobility drop in Tunisia has resulted in a lower reduction in economic activity than in comparator countries as Algeria and Egypt. Second, it could be that the level of public support to the ailing firms and households may have been particularly low. However, at 2.3 percent of GDP, the Covid-19 stimulus package in 2020 was in the same ballpark as other comparators in the region. Third, the structure of the Tunisian economy, particularly its reliance on tourism, may have exposed it to the negative demand shock more than other countries. Indeed hotels, cafe and restaurant and transport are the sectors which have contracted the most since the start of the pandemic. The losses of these sectors explain a significant portion of the negative effects of the crisis in Tunisia, although they do not fully account for such slow recovery.
Plan d’Action de Mohammedia et Ain Harrouda 2022-2027

(Washington, DC, 2022) World Bank

Ce diagnostic a pour objectif de fournir un aperçu rapide des risques liés au changement climatique et aux catastrophes auxquels sont confrontées les communes à travers une évaluation du cadre institutionnel et réglementaire, de l’exposition aux aléas et de la vulnérabilité. Les principaux aléas examinés dans l’étude diagnostique ont été identifiés avec le comité de pilotage de la préfecture, et inclus les inondations, les raz-de-marée, l’élévation du niveau de la mer, l’érosion côtière, les tremblements de terre et les incendies.
The World Bank Annual Report 2022: Helping Countries Adapt to a Changing World

(Washington, DC : World Bank, 2022) World Bank

The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)--collectively known as the World Bank--in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submit the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.
Distributional Impacts of COVID-19 in the Middle East and North Africa Region

(Washington, DC: World Bank, 2021-11-22) Hoogeveen, Johannes G. ; Lopez-Acevedo, Gladys ; Hoogeveen, Johannes G. ; Lopez-Acevedo, Gladys

COVID-19 is one of multiple crises to have hit the Middle East and North Africa (MENA) region in the decade following the Arab Spring. War, oil price declines, economic slowdowns and now a pandemic are tearing at the social fabric of a region characterized by high rates of unemployment, high levels of informality and low annual economic growth. The economic costs of the pandemic are estimated at about $227 billion, and fiscal support packages across MENA are averaging 2.7 percent of GDP, putting pressure on already weak fiscal balances and making a quick recovery challenging. Pre-pandemic MENA was the only region in the world experiencing increases in poverty and declines in life satisfaction. This Report investigates how COVID-19 changed the welfare of individuals and households in the region. It does so by relying on phone surveys implemented across the region and complements these with micro-simulation exercises to assess the impact of COVID-19 on jobs, income, poverty and inequality. The two approaches perform a complementary task by corroborating each other’s results, thereby making the findings more robust and richer. This Report’s results show that in the short run, poverty rates in MENA will increase significantly, and that inequality will widen. A group of “new poor” is likely to emerge that may have difficulty to recover from the economic consequences of the pandemic. The Report adds value by analyzing newly gathered primary data, along with projections based on newly modelled micro-macro simulations and by identifying key issues that policy makers should focus on to enable a quick, inclusive and sustained economic recovery.
Overconfident: How Economic and Health Fault Lines Left the Middle East and North Africa Ill-Prepared to Face COVID-19

(Washington, DC: World Bank, 2021-10-07) Gatti, Roberta ; Lederman, Daniel ; Fan, Rachel Yuting ; Hatefi, Arian ; Nguyen, Ha ; Sautmann, Anja ; Sax, Joseph Martin ; Wood, Christina A.

This report examines the region’s economic prospects in 2021, forecasting that the recovery will be both tenuous and uneven as per capita GDP level stays below pre-pandemic levels. COVID-19 was a stress-test for the region’s public health systems, which were already overwhelmed even before the pandemic. Indeed, a decade of lackluster economic reforms left a legacy of large public sectors and high public debt that effectively crowded out investments in social services such as public health. This edition points out that the region’s health systems were not only ill-prepared for the pandemic, but suffered from over-confidence, as authorities painted an overly optimistic picture in self-assessments of health system preparedness. Going forward, governments must improve data transparency for public health and undertake reforms to remedy historical underinvestment in public health systems.
The World Bank Annual Report 2021: From Crisis to Green, Resilient, and Inclusive Recovery

(Washington, DC: World Bank, 2021-10-01) World Bank

The Annual Report is prepared by the Executive Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA)--collectively known as the World Bank--in accordance with the by-laws of the two institutions. The President of the IBRD and IDA and the Chairman of the Board of Executive Directors submits the Report, together with the accompanying administrative budgets and audited financial statements, to the Board of Governors.
Living with Debt: How Institutions Can Chart a Path to Recovery in Middle East and North Africa

(Washington, DC: World Bank, 2021-04-02) Gatti, Roberta ; Lederman, Daniel ; Nguyen, Ha M. ; Alturki, Sultan Abdulaziz ; Fan, Rachel Yuting ; Islam, Asif M. ; Rojas, Claudio J.

Economies in the Middle East and North Africa (MENA) remain in crisis. The World Bank estimates the regional output to have contracted 3.8 percent in 2020 and expects it to rebound by only 2.2 percent in 2021. The regional output is expected to be 7.2% below where it would be in 2021 without the pandemic. The region’s average GDP per capita is estimated to have declined 5.3 percent in 2020 and expected to rebound by only 0.6 percent in 2021. The number of poor people in the region—those making less than the $5.50 per day poverty line—is expected to increase from 176 million in 2019 to a conservative estimate of 192 million people by the end of 2021. The region’s public debt is expected to rise significantly. Most notably, MENA oil importers have the highest levels of debt. As the region copes with the economic consequences of the pandemic, most countries will face tensions between short-term needs and the long-term risks of debt-financed government spending. Countries must make tough choices along the road to recovery. During the pandemic, fiscal spending is arguably best used to support vulnerable families and invest in public health—such as disease surveillance, data transparency, and vaccinations. Public health investment as a short-term response to the pandemic could also bring long-term gains. As the pandemic subsides, there are good reasons to be cautious with additional fiscal stimulus, especially for countries with high debt, poor governance, and lack of transparency. After the pandemic, economic growth remains the most sustainable way to reduce the debt-GDP ratio, and this requires much-needed deep structural reforms. Strong institutions can chart a path to recovery. Investing in testing, disease surveillance, and data transparency can reduce the economic costs of the pandemic. As the pandemic subsides, effective and transparent pandemic surveillance would help boost demand from domestic and foreign sources. Good governance in public investment decisions can raise the effectiveness of public investment. Public debt transparency can help reduce borrowing costs. Institutional reforms can be implemented with limited fiscal costs and hold the promise of boosting long-run growth.
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.
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.