Overview

The global economy is enjoying a broad-based cyclical recovery. Investment, manufacturing, and trade are on therebound. Financing conditions are benign, monetary policies are generally accommodative, and the worst impacts of the recent commodity price collapse are dissipating. However, the global economic outlook remains clouded by a number of risks. These include the possibility of financial market disruptions, rising protectionist sentiment, and heightened geopolitical tensions. Subdued productivity and slowing potential growth is of particular concern.In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a chapter on the causes of the broad-based slowdown in potential growth and suggests a number of remedies. The report also contains Special Focus sections on the impact of the 2014-16 oil price collapse and the relationship between education demographics and global inequality. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.

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9781464811630

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The World Bank came into formal existence in 1945 following the international ratification of the Bretton Woods agreements. It is a vital source of financial and technical assistance to developing countries around the world. The organization's activities are focused on education, health, agriculture and rural development, environmental protection, establishing and enforcing regulations, infrastructure development, governance and legal institutions development. The World Bank is made up of two unique development institutions owned by its 185 Member Countries. The International Bank for Reconstruction and Development (IBRD) focuses on middle income and creditworthy poor countries and the International Development Association (IDA), which focuses on the poorest countries in the world.

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