Publication:
The Great Reversal: Prospects, Risks, and Policies in International Development Association (IDA) Countries

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dc.contributor.authorChrimes, Tommy
dc.contributor.authorGootjes, Bram
dc.contributor.authorKose, M. Ayhan
dc.contributor.authorWheeler, Collette
dc.date.accessioned2024-04-11T13:43:15Z
dc.date.available2024-04-11T13:43:15Z
dc.date.issued2024-04-15
dc.description.abstractThe 75 economies eligible for low-interest loans and grants from the World Bank’s International Development Association (IDA) made notable progress against some important development objectives over the first two decades of this century. Despite this, on the eve of the COVID-19 pandemic, significant development gaps persisted, convergence of IDA country incomes with those of advanced economies was slowing, and some vulnerabilities were rising. The shock of the pandemic and subsequent overlapping crises has exacerbated the challenges facing these economies and led to a reversal in development: over 2020-24, per capita incomes in half of IDA countries—the largest share since the start of this century—have been growing more slowly than those of wealthy economies. One out of three IDA countries is poorer than it was on the eve of the pandemic. Poverty remains stubbornly high, hunger has surged, and amid fiscal constraints and rising investment needs, the development outlook could take an even bleaker turn—especially if weak growth prospects persist. IDA countries have several important demographic and resource advantages that could—if leveraged effectively—help close development gaps. Reaping the benefits of their advantages and meeting their investment needs will require them to undertake comprehensive policy measures to bolster fiscal and monetary frameworks, enhance human capital development, and improve the quality of institutions. These policies should be complemented with significant and consistent international financial support as well as strong cooperation on global policy issues.
dc.identifier.doi10.1596/978-1-4648-2145-5
dc.identifier.isbn978-1-4648-2145-5
dc.identifier.otherLibrary of Congress Control Number: 2024919324
dc.identifier.urihttps://hdl.handle.net/10986/41403
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectDEVELOPING COUNTRIES
dc.subjectWORLD’S POOREST COUNTRIES
dc.subjectINTERNATIONAL DEVELOPMENT ASSOCIATION
dc.subjectEXTREME POOR
dc.subjectDEBT VULNERABILITY
dc.subjectFOOD INSECURITY
dc.subjectPERVASIVE DEBT DISTRESS
dc.subjectSTAGNATION
dc.subjectNO POVERTY
dc.subjectSDG 1
dc.subjectGOOD HEALTH AND WELL-BEING
dc.subjectSDG 3
dc.titleThe Great Reversalen
dc.title.subtitleProspects, Risks, and Policies in International Development Association (IDA) Countries
dc.typeBook
dspace.entity.typePublication
okr.crossref.titleThe Great Reversal: Prospects, Risks, and Policies in International Development Association (IDA) Countries
okr.date.disclosure2024-04-15
okr.identifier.docmidP176968
okr.identifier.doihttps://doi.org/10.1596/41403
okr.language.supporteden
okr.region.geographicalWorld
okr.topicMacroeconomics and Economic Growth :: Economic Assistance
okr.topicPublic Sector Development :: Economics and Finance of Public Institution Development
okr.topicPoverty Reduction :: Poverty Reduction Strategies
okr.topicPoverty Reduction::Poverty Monitoring & Analysis
okr.topicHealth, Nutrition and Population::Health and Poverty
okr.topicPublic Sector Development::Public Finance Policies for Poverty Reduction
okr.topicRural Development::Rural Poverty Reduction Strategies
okr.topicUrban Development::Urban Poverty
okr.type.subtypePublications & Research::Publication
okr.unitDECPG - Prospects Group
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relation.isAuthorOfPublication62b4b245-a963-4958-b4d7-9f962d5dd629
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relation.isAuthorOfPublication9c271c2d-d815-4737-8dd8-10ccdc235e0f
relation.isAuthorOfPublication.latestForDiscovery683e8255-037b-4f83-87fd-f9b6593c2529
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