The war in Ukraine is a human tragedy for the people of Ukraine, but its economic implications are global. This instant report focuses on the direct impact of the war on world trade and investment. It identifies five trade and investment channels through which countries will be affected by the...

Physical cash and commercial bank money are dominant vehicles for retail payments around the world, including in emerging market and developing economies (EMDEs). Yet payments in EMDEs are marked by several key deficiencies, such as lack of universal access to transaction accounts, widespread...

Small and medium enterprises (SMEs) face significant financing gaps that stifle innovation and economic growth. The credit gap alone is estimated at dollar 4.5 trillion as of 2017 for emerging markets and developing economies (EMDEs) only. Bank financing has been the traditional source of...