Sector/Thematic Studies

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Lebanon Economic Monitor, Spring 2023: The Normalization of Crisis Is No Road for Stabilization

(Washington, DC, 2023-05-15) World Bank

The systemic failure of Lebanon’s banking system and the collapse of the currency have resulted in a large, dollarized cash-based economy, worth an estimated US$9.86 billion or 45.7 percent of GDP in 2022 (Special Focus: Gauging the Size of the Cash Economy in Lebanon). A pervasive and growing dollarized cash economy is a major impediment to Lebanon’s economic recovery. It not only threatens to compromise the effectiveness of fiscal and monetary policy, but also heightens the risk of money laundering, increases informality, and prompts further tax evasion. Moreover, the increasing reliance on cash transactions also threatens to completely reverse the progress that Lebanon made pre-crisis towards enhancing its financial integrity by instituting robust anti-money laundering mechanisms in its commercial banking sector.
Algeria Economic Update - Fall 2021: Restoring the Algerian Economy after the Pandemic

(Washington, DC: World Bank, 2021-12-23)

Algeria is enjoying temporarily breathing space, as hydrocarbon prices reach new highs and the Coronavirus (COVID-19) pandemic eases. After peaking during the summer, the number of daily Coronavirus (COVID-19) cases plummeted in the Fall, while the vaccination campaign accelerated. Meanwhile, global oil and gas prices are reaching levels unseen since before the 2014 oil crisis, allowing for a gradual recovery in crude oil production quotas, and a surge in natural gas production and exports. Surging hydrocarbon exports revenues are contributing to a marked decline in external financing needs and to the short-term stabilization in growing domestic financing needs. Meanwhile, the economic recovery in non-hydrocarbon sectors lost steam, remaining largely incomplete, while inflationary risks are materializing. Absent decisive implementation of the reform agenda, the economic outlook points to a fragile recovery, and to deteriorating fiscal and external balances in the medium-term. Algeria’s intact dependance on hydrocarbon revenues, the spread of new Coronavirus (COVID-19) variants and the pace of the announced reform effort remain the key sources of risks to the outlook.
Loud and Clear: Effective Language of Instruction Policies for Learning

(Washington, DC, 2021) World Bank

Part 1 addresses why we should care about LoI (Language of Instruction) issues and the major challenges involved. Its four sections are entitled: (i) why should we care (ii) how big is the problem (iii) the role of political economy; and (iv) diverse LoI contexts. Part 2 presents existing solutions (in section 5) and proposes a detailed way forward for the WB Education Global Practice (section 6). It should be noted that the paper does not claim to possess or propose a complete set of technical solutions for the myriad of difficult policy issues involved. By enhancing engagement and devoting adequate resources to the problem, existing solutions will be deployed, and new solutions devised. Increased partnership and knowledge sharing will be part of this, as will be the testing of innovative approaches. The new approach will involve learning at the individual and institutional level, with an intensity of engagement commensurate with the urgency of the issue.