Wednesday, September 16, 2009
[IWS] World Bank: PROTECTING PROGRESS: THE CHALLENGE FACING LOW-INCOME COUNTRIES IN THE GLOBAL RECESSION [16 September 2009]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
World Bank
PROTECTING PROGRESS: THE CHALLENGE FACING LOW-INCOME COUNTRIES IN THE GLOBAL RECESSION [16 September 2009]
http://siteresources.worldbank.org/NEWS/Resources/WorldBankG20PaperonLICsSept2009.pdf
[full-text, 26 pages]
Press Release 16 September 2009
Low-Income Countries Face Long Recovery -- Serious Challenges Require More and Better Support
Poorest countries face $11.6 billion shortfall in critical core spending, with sharp drops in trade, capital flows, remittances, and tourism; despite efforts to date, further action is needed
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22316262~pagePK:34370~piPK:34424~theSitePK:4607,00.html
WASHINGTON, September 16, 2009 While the global economy is showing tentative signs of recovery, 43 low-income developing countries are still suffering the consequences of the global recession, which highlights the need to increase support to the poorest countries dealing with economic volatility and crisis, the World Bank said.
In a paper prepared for the upcoming G-20 meeting in Pittsburgh, the World Bank said that as a result of the crisis 89 million more people will be living in extreme poverty, on less than $1.25 a day, by the end of 2010. The global recession has also put at risk $11.6 billion of core spending in areas such as education, health, infrastructure and social protection in the most vulnerable countries.
AND MORE....
Contents
I. Introduction............................................................................................................... 1
II. Impact of the Global Recession on Low-Income Countries .......................................... 2
The Global Picture ........................................................................................................................................ 2
Channels of Impact ....................................................................................................................................... 4
Commodity prices .................................................................................................................................... 4
Trade ........................................................................................................................................................... 4
Capital markets ......................................................................................................................................... 5
Tourism ...................................................................................................................................................... 7
Financing for SMEs ................................................................................................................................. 7
III. Impact on Poverty, Human Development and Vulnerable Groups .............................. 8
Poverty ............................................................................................................................................................ 8
Human Development ................................................................................................................................... 9
Women and the crisis ................................................................................................................................... 9
IV. Resource Implications and Policy Responses ........................................................... 10
Fiscal Impacts ..............................................................................................................................................10
Revenue pressures ..................................................................................................................................11
Limited scope for counter-cyclical spending .......................................................................................11
Protecting core spending .........................................................................................................................12
Mobilizing Additional Financial Resources ...............................................................................................13
Private flows ............................................................................................................................................13
Official development assistance .............................................................................................................14
Maintaining debt sustainability ...............................................................................................................14
Deterring illicit flows and facilitating asset recovery ..........................................................................15
Prioritizing Expenditures .............................................................................................................................15
Protecting the most vulnerable ..............................................................................................................16
Taking gender into account ....................................................................................................................16
Setting priorities on infrastructure spending ........................................................................................16
Addressing food security .........................................................................................................................17
V. World Bank Group Response to the Crisis ................................................................. 17
Protecting the Poor: The World Bank Group's Vulnerability Framework ..........................................20
VI. What More Is Needed: Elements of an Effective Global Response ........................... 21
Endnotes ....................................................................................................................... 24
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
World Bank
PROTECTING PROGRESS: THE CHALLENGE FACING LOW-INCOME COUNTRIES IN THE GLOBAL RECESSION [16 September 2009]
http://siteresources.worldbank.org/NEWS/Resources/WorldBankG20PaperonLICsSept2009.pdf
[full-text, 26 pages]
Press Release 16 September 2009
Low-Income Countries Face Long Recovery -- Serious Challenges Require More and Better Support
Poorest countries face $11.6 billion shortfall in critical core spending, with sharp drops in trade, capital flows, remittances, and tourism; despite efforts to date, further action is needed
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:22316262~pagePK:34370~piPK:34424~theSitePK:4607,00.html
WASHINGTON, September 16, 2009 While the global economy is showing tentative signs of recovery, 43 low-income developing countries are still suffering the consequences of the global recession, which highlights the need to increase support to the poorest countries dealing with economic volatility and crisis, the World Bank said.
In a paper prepared for the upcoming G-20 meeting in Pittsburgh, the World Bank said that as a result of the crisis 89 million more people will be living in extreme poverty, on less than $1.25 a day, by the end of 2010. The global recession has also put at risk $11.6 billion of core spending in areas such as education, health, infrastructure and social protection in the most vulnerable countries.
AND MORE....
Contents
I. Introduction............................................................................................................... 1
II. Impact of the Global Recession on Low-Income Countries .......................................... 2
The Global Picture ........................................................................................................................................ 2
Channels of Impact ....................................................................................................................................... 4
Commodity prices .................................................................................................................................... 4
Trade ........................................................................................................................................................... 4
Capital markets ......................................................................................................................................... 5
Tourism ...................................................................................................................................................... 7
Financing for SMEs ................................................................................................................................. 7
III. Impact on Poverty, Human Development and Vulnerable Groups .............................. 8
Poverty ............................................................................................................................................................ 8
Human Development ................................................................................................................................... 9
Women and the crisis ................................................................................................................................... 9
IV. Resource Implications and Policy Responses ........................................................... 10
Fiscal Impacts ..............................................................................................................................................10
Revenue pressures ..................................................................................................................................11
Limited scope for counter-cyclical spending .......................................................................................11
Protecting core spending .........................................................................................................................12
Mobilizing Additional Financial Resources ...............................................................................................13
Private flows ............................................................................................................................................13
Official development assistance .............................................................................................................14
Maintaining debt sustainability ...............................................................................................................14
Deterring illicit flows and facilitating asset recovery ..........................................................................15
Prioritizing Expenditures .............................................................................................................................15
Protecting the most vulnerable ..............................................................................................................16
Taking gender into account ....................................................................................................................16
Setting priorities on infrastructure spending ........................................................................................16
Addressing food security .........................................................................................................................17
V. World Bank Group Response to the Crisis ................................................................. 17
Protecting the Poor: The World Bank Group's Vulnerability Framework ..........................................20
VI. What More Is Needed: Elements of an Effective Global Response ........................... 21
Endnotes ....................................................................................................................... 24
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 1:28 PM
