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Libya Economic Monitor, Fall 2023

2024-02-12, World Bank

Libya’s medium-term growth and development challenges are major and pressing. Key among these is to accelerate and stabilize growth: GDP per capita shrank by 54 percent between 2010 and 2022. Furthermore, Libya’s economy was among the most volatile during the past decade due to the conflict, instability, fragmentation, oil export blockades, and weak economic policies. Another challenge is to diversify the economy to make growth more job-rich, more inclusive to women and youth and less intensive in carbon. This could be achieved by strengthening human capital and rebuilding infrastructure. Building a wide, transparent, and effective cash transfer system could bea transformational approach to reform public finances and the public sector and rebuild trust between citizens and the state. Partly linked to the above is the challenge to address the transparency and equitable sharing of oil resources, including to address regional disparities to reduce risks of conflict and fragility in the interest of building a lasting peace. Lastly, the overall institutional and economic policy framework and capacity need to be strengthened to undertake such major transformation.

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World Bank Annual Report 2023: A New Era in Development

2023-09-28, World Bank

This annual report, which covers the period from July 1, 2022, to June 30, 2023, 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.

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Libya Economic Monitor, Summer 2022

2022-08, World Bank

Libya is struggling to cope with a trifecta of crises, including the civil conflict, the Coronavirus (COVID-19) pandemic and most recently, the impact of the Russia-Ukraine crisis. Notwithstanding the tempering of conflict intensity since 2021, the Libyan economy has been battered by the conflict. GDP per capita estimates in 2021 stood at about half of its value in 2010 before the start of the conflict. Since 2020, the population has been hit by multiple waves of the COVID-19 pandemic. The health system, already affected by a decade of conflict, has struggled to deliver the necessary access and quality of care amid a raging pandemic. While Libya has reported a marked decline in COVID-19 cases and deaths since March 2022, the vaccination rate remains low. In addition, food insecurity has worsened, precipitated by the Russia-Ukraine crisis and the resulting shortages and price increases for staple foods in the domestic market.

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The World Bank Annual Report 2021: From Crisis to Green, Resilient, and Inclusive Recovery

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.

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Libya Storm and Flooding 2023: Rapid Damage and Needs Assessment

2024-02-12, World Bank

The objective of the RDNA is to estimate the impact of the storm and floods on physical assets and service delivery in the most affected areas and take stock of the ensuing recovery needs. The RDNA covers 20 municipalities and provides indepth analysis of the five most affected cities (Derna, Soussa, Al-Bayda, Al-Marj, and Shahhat) The RDNA employs an assessment methodology developed by the WB, EU and UN that has been successfully applied in numerous disaster-affected countries around the World. The RDNA relies largely on satellite imagery based data, social media analytics and other means of remote data collection. Despite extensive efforts to maximize the accuracy and reliability of the data collected and utilized for the RDNA, the recovery planning and implementation phases will provide an opportunity to further improve upon the RDNA data through more comprehensive ground damage surveys. The RDNA provides sector specific strategies for green, resilient, inclusive, and sustainable recovery. Based on these sector-specific strategies, it identifies and quantifies needs for several sectors, distributed, and sequenced across the short-term (0–12 months) and medium-term (1–3 years). These sectors encompass Social Sectors (Housing, Education, Health, Poverty, and Social Protection, and Jobs), Productive Sectors (Agriculture and Financial), Infrastructure Sectors (Energy, Transport, Telecommunications and Digital Development, Water and Sanitation, and Water Resource Management, and Municipal Services), as well as Cross-Cutting Sectors (Environment, Impact on Women and Men, Governance and Public Institutions, Disaster and Climate Risk Management, and Social Sustainability and Inclusion). The RDNA also analyses macroeconomic and socioeconomic impacts of the floods to anticipate how these are affecting the population’s well-being. Although the scope of the RDNA is limited to damages, losses and needs caused by the flood, the recommended recovery measures attempt to contribute to longer term stability and improved governance of the disaster affected region.

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A New State of Mind: Greater Transparency and Accountability in the Middle East and North Africa

2022-10-05, Belhaj, Ferid, Gatti, Roberta, Lederman, Daniel, Sergenti, Ernest John, Assem, Hoda, Lotfi, Rana, Mousa, Mennatallah Emam

The MENA region is facing important vulnerabilities, which the current crises—first the pandemic, then the war in Ukraine—have exacerbated. Prices of food and energy are higher, hurting the most vulnerable, and rising interest rates from the global tightening of monetary policy are making debt service more burdensome. Part I explores some of the resulting vulnerabilities for MENA. MENA countries are facing diverging paths for future growth. Oil Exporters have seen windfall increases in state revenues from the rise in hydrocarbon prices, while oil importers face heightened stress and risk—from higher import bills, especially for food and energy, and the depreciation of local currencies in some countries. Part II of this report argues that poor governance, and, in particular, the lack of government transparency and accountability, is at the root of the region’s development failings—including low growth, exclusion of the most disadvantaged and women, and overuse of such precious natural resources as land and water.

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Remarks by World Bank Group President David Malpass at World Bank Group 2022 Spring Meetings Ministerial Roundtable for Support to Ukraine

2022-04-21, Malpass, David

These remarks were delivered by World Bank Group President David Malpass at World Bank Group 2022 Spring Meetings Ministerial Roundtable for Support to Ukraine on April 21, 2022. He said that he has been deeply horrified and shocked by Russia’s invasion of Ukraine, the atrocities committed against the civilian population, and the loss of life and livelihoods for millions of Ukrainians. He mentioned that since the invasion, the World Bank Group has provided fast-disbursing financial support to help the government provide critical services, pay wages for hospital workers, public servants, and the elderly. He insisted that It will be important for all partners to continue coordinating their support for Ukraine’s budget needs. He described that the World Bank Group is working toward three phases of the recovery effort of relief, recovery, and resilience. He said that as the war continues, the World Bank Group will work to build confidence in Ukraine’s financial, monetary, and fiscal institutions, fostering currency stability as they go forward. He mentioned that rebuilding will take hard work, determination, and struggle, but he remains optimistic. He concluded by saying that with our collective support, Ukraine can achieve a brighter future.

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Yemen Economic Monitor, Fall 2023: Peace on the Horizon?

2023-11-08, World Bank

The Yemen Economic Monitor provides an update on key economic developments and policies over the past six months. It also presents findings from recent World Bank work on Yemen. The Monitor places these developments, policies, and findings in a longer-term and global context and assesses their implications for Yemen’s outlook. Its coverage ranges from the macro economy to financial markets to human welfare and development indicators. It is intended for a wide audience, including policy makers, development partners, business leaders, financial market participants, and the community of analysts and professionals engaged in Yemen.

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Tunisia - Systematic Country Diagnostic: Rebuilding Trust and Meeting Aspirations for a More Prosperous and Inclusive Tunisia

2022-09-30, World Bank

This Systematic Country Diagnostic (SCD) comes at critical moment in Tunisia. Since the 2011 revolution and the promulgation of a new constitution in 2014, Tunisia has been navigating a difficult political transition. While there have been gains in poverty reduction, public trust in government has declined sharply, and the economy has stalled. The COVID-19 pandemic and more recently the effects of the war in Ukraine also exacerbated stresses on the economy, the public finances, and public trust in government. Partly as result of these trends, recent political events since July 25 2021 have marked a break with the 2014 constitutional model, and created great uncertainty regarding the future direction of Tunisia’s transition. At the time of writing, it is still uncertain what form Tunisia’s new political and constitutional model will take in coming years. The Tunisia SCD takes a ten-year view of trends in Tunisia since 2011, drawing comparisons with other comparable countries, and suggesting possible future pathways. The World Bank Group undertakes SCDs as a diagnostic exercise to identify key challenges and opportunities to accelerate progress towards rebuilding trust and meeting citizen aspirations, and ultimately to contribute to the World Bank Group’s twin goals of ending absolute poverty and boosting shared prosperity in a sustainable manner. It is intended to become a reference point for consultations on priorities for World Bank Group country engagement. It is also intended as a contribution to the public debate about Tunisia’s path forward. This longer term perspective means that the Tunisia SCD does not place a heavy emphasis on recent events, but rather seeks to situate them in the broader context of trends in equitable growth, poverty reduction, and state capability.

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The World Bank Annual Report 2022: Helping Countries Adapt to a Changing World

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.