The major turbulence being experienced by the world economy could lead to a global recession and the collapse of the norms and institutions that have been critical for stability and economic development since the Second World War. In particular, the United States has adopted a level of tariff protection last seen in the 1930s and […]
Critical technologies including artificial intelligence, semiconductors and quantum computing are attracting attention because of their indispensable nature and their role in national security strategies. We compare China, the United States and the European Union in these technologies and their subfields. We use large language models (LLMs) to identify which patents in these technologies can be […]
Government procurement—the process in which public entities buy goods and services from private companies—represents between 5% and 20% of a country’s GDP, depending on the country. Public procurement policies allow governments to strategically support certain firms and sectors, for example, small businesses or eco-friendly products. In using public procurement systems, policymakers must navigate a trade-off: […]
The EU will propose to G7 finance ministers this week to lower the current $60 per barrel price cap on Russian seaborne oil as part of the new sanctions package against Moscow, European Economic Commissioner Valdis Dombrovskis said on Monday. Dombrovskis did not mention the level to which the European Union would want the price […]
A fundamental problem for sovereigns enacting climate policies is whether they can manage increasing debts as their economies suffer from adverse climate impacts. We develop stochastic debt sustainability analysis integrating a coupled climate-economy model with debt financing scenario optimisation, and stress test sovereign debt for representative countries globally under the Intergovernmental Panel on Climate Change […]
On this year’s International Day of Families, we explore a critical issue: the sidelining of family-oriented policies in mainstream economic discussions. Despite their transformative potential, family laws governing marriage, divorce, property rights, inheritance, and household decision-making often remain overlooked. These laws define personal relationships and set the legal boundaries of women’s agency, mobility, and access […]
HSBC plans to cut 348 jobs in France through a voluntary redundancy scheme, amounting to about 10% of its workforce in the country, the bank said on Wednesday. The job losses are part of a cost-cutting drive led by CEO Georges Elhedery, who aims to reduce expenses by $1.8 billion by the end of 2026. The Reuters Daily […]
Imagine getting to work on a program that will bring internet access and digitally enabled services to 180 million people. Opportunities like these illustrate the meaningful role institutions like the World Bank, and teams across the institution like ours, can play in addressing urgent development challenges that can drastically improve people’s lives. In Eastern and […]
The first four months of the year have been turbulent for oil markets. Brent crude oil plunged by more than $12 per barrel ($/bbl) in the four trading days following April 2. This marked the 11th-worst four-trading-day price performance since 1990 and was accompanied by a 50 percent surge in anticipated oil price volatility. Brent […]
The views expressed in the Let’s Talk Development blog are solely those of the author(s). Commodity prices are projected to decline in 2025, driven by improved supplies, policy uncertainty, and an expected slowdown in global economic growth. Energy prices are expected to see the steepest drop, with the World Bank’s energy price index forecast to fall […]
