Iraq is facing daunting challenges of Islamic State of Iraq and Syria (ISIS) insurgency, political upheaval, and profound economic and humanitarian crises. Compounding the ISIS-related crisis, the sharp decline in global oil prices has resulted in significant decline in oil export revenues....

Armenia has a very small economy that has carried out strong reforms in many areas over the past decade and a half. It grew at a very fast pace prior to the global crisis (about 12 percent on average between 2000 and 2007), in part due to a strong inflow of remittances and Foreign Direct...

This report argues that in the future Moldova will need to develop a second engine of growth from exports of goods and services. We argue that Moldova needs to resurrect agro-based exports, to raise their value by exporting to higher value markets, and develop service exports in order to provide...

The world economy is emerging from the throes of a historically deep and synchronized recession provoked by the bursting of a global financial bubble. The consequences of the initial bubble and the crisis have been felt in virtually every economy, whether or not it participated directly in the...

Global Economic Prospects 2010: Crisis, Finance and Growth presents the World Bank's latest short-term forecasts. In addition, the report presents evidence that the financial boom played a critical role in the growth boom experienced by developing countries between 2003 and 2007, but that...

The global financial crisis severely affected economies in Eastern Europe and Central Asia (ECA). Currencies depreciated across the region. Government tax revenues declined sharply leading to high budget deficits and rising levels of public debt. Tightening credit supply and deteriorating...