Global growth is projected to be slightly faster in 2020 than the post-crisis low registered last year. While growth could be stronger if reduced trade tensions lead to a sustained reduction in uncertainty, the balance of risks to the outlook is to the downside. Growth in emerging market and...

North Macedonia has made considerable progress in recent decades, moving from lower-middle to upper-middle income status, and from a planned to a functional market economy. Despite these reforms, the domestic economy still lacks the needed dynamism to move into higher-income status, as evidenced...

Botswana is one of a small group of countries in the contemporary era, virtually the only African country that has sustained rapid economic growth over an extended period. Over the past three decades, Botswana's real per capita income grew by more than 7 percent per annum, which is comparable to...

The arrival of a new government provides an opportunity to reinvigorate the reform agenda to deliver inclusive growth for the Somali people. Since the establishment of the Provisional Constitution in 2012, Somalia has made commendable progress on many fronts. Macroeconomic stability has been...

The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt...

The start of a new administration offers a tremendous opportunity for Malawi to build upon recent progress to move beyond a history of low growth and limited poverty reduction. This package of policy notes is addressed to Malawian society and to the beginning of a new administration following...

Ecuador faces the challenge of consolidating the social gains achieved during the last decade while addressing the excesses committed the commodity boom period, when the state was the main drive of economic growth and the private sector remained subdue. This policy note diagnoses the nature of...

The COVID-19 (Coronavirus) pandemic is exposing Brazil to an unprecedented challenge. The pandemic is expected to plunge Brazil into another recession. Although the pain of recession can be felt across the economy, smaller firms are expected to be more affected because they tend to be more...

Mongolia is endowed with rich natural resources, including its vast pastureland, unspoiled nature, and world-class mineral deposits. However, despite the strategic opportunities, Mongolia's economy is characterized by its heavy reliance on mining, unsustainable exploitation of natural resources,...