The current corporate publications that are World Bank Group flagships are: World Development Report (WDR); Global Economic Prospects (GEP), Doing Business (DB), and Poverty and Shared Prosperity (PSP). All go through a formal Bank-wide review and are discussed with the Board prior to their release. In terms of branding, the phrase “A World Bank Group Flagship Report” will be used exclusively on the cover of these publications. This label will signal that the institution assumes a higher level of responsibility for the positions held by these reports. The flagship Global Monitoring Report (GMR) is no longer produced. The flagship Doing Business is no longer produced.
(World Bank, Washington, DC, 2021-10-21)
World Bank Group
Commodity prices have risen to high levels by historical standards. Energy prices have increased sharply, especially for natural gas and coal, while most non-energy prices have plateaued after steep increases earlier in the year. Crude oil prices are forecast to average $74/bbl in 2022, up from a projected $70/bbl in 2021. After registering more than 48 percent increase this year, metal prices are projected to decline 5 percent in 2022. Agricultural prices, which are projected to rise more than 20 percent this year, are expected to broadly stabilize in 2022. These forecasts are subject to substantial risks, from adverse weather, further supply constraints, or additional outbreaks of COVID-19. Energy prices are particularly at risk of additional volatility in the near-term given low inventory levels. A Special Focus section explores the impact of urbanization on commodity demand. Although cities are often associated with increased demand for energy commodities (and hence greenhouse gas emissions) the report finds that high-density cities, particularly in advanced economies, can have lower per capita energy demand than low-density cities. As the share of people living in urban areas is expected to continue to rise, these results highlight the need for strategic urban planning to maximize the beneficial elements of cities and mitigate their negative impacts.
(World Bank, Washington, DC, 2021-04-20)
World Bank Group
Commodity prices continued to recover in the first quarter of 2021 from lows reached in 2020, supported by the global economic recovery, improved growth prospects, and supply factors specific to crude oil, copper, and some food commodities. Looking ahead, oil prices are forecast to average $56/bbl in 2021, 36 percent higher than in 2020, and see a further rise to $60/bbl in 2022 as demand continues to recover. Metal prices are expected to average 30 percent higher in 2021 than in 2020 on the back of strong demand before dropping back somewhat in 2022. Agriculture prices are forecast to average nearly 14 percent higher in 2021, driven by a few food commodities, and are expected to stabilize thereafter. A Special Focus section examines the impact of metal price shocks on metal-exporting countries. Since global metal prices are predominantly driven by global demand shocks, metal price swings can amplify the impact of global downturns and recessions—or conversely, upturns—for metal exporters. Metal price jumps are associated with small, temporary gains from price increases for metal exporters, but metal price collapses tend to lead to larger, and longerlasting, output losses.