Energy commodity prices rose 2.7 percent in April as the crude oil average rose 2.5 percent, according to the World Bank’s Pink Sheet.
Non-energy prices declined 2.4 percent as agriculture fell 1.4 percent, food and beverages prices dipped by 2.1 percent and 1 percent, respectively, and raw materials rose 0.3 percent. Fertilizer prices declined 6 percent.
Metals and minerals prices slid 4.3 percent, led by an almost 20 percent tumble in iron ore. Precious metals eased 2.7 percent.
The Pink Sheet is a monthly report that monitors commodity price movements.
Finance fuels economic growth and development. Yet, it is also clear that traditional funding sources – public finances, development assistance or banks loans – will not be sufficient to finance the Sustainable Development Goals.
Both and to attract private sector financing, investment and expertise.
so that emerging market countries can meet their financing needs to fund strategic objectives, such as improving infrastructure.
We estimate that the amount of infrastructure financing covered by the private sector could be more than doubled, if countries harness the full potential of local capital markets.
At the World Bank Group, we are committed to marshal our expertise to increase the use of capital markets for investment financing. Helping countries develop government debt markets is vital to our goals of eliminating extreme poverty and boosting shared prosperity.
As economies in the East Asia and Pacific (EAP) region have developed, they have also become important in international financial transactions, both as a source and destination of cross-border bank lending, foreign direct investments (FDI), and portfolio investments. But, as we document in a new paper (Didier et al., 2017), the composition of those financial connections has been changing in recent years in at least two fronts: (i) the partners with which EAP countries interact and (ii) the type of financial transactions conducted.
Prices for most industrial commodities, notably energy and metals, are projected to rise in 2017 while agricultural prices are expected to remain stable, the World Bank says in its April 2017 Commodity Markets Outlook.
Closely watched crude oil prices are forecast to rise to an average of $55 per barrel (bbl) over 2017 from $43/bbl in 2016, climbing to $60/bbl next year. The forecast is unchanged since October and reflects the balancing effects of production cuts agreed by the Organization of Petroleum Exporting Countries (OPEC) and other producers on one side and a faster-than-expected rebound in the U.S. shale oil industry on the other. World oil demand is growing strongly, although at a slower pace than the 2015 spike triggered by lower oil prices.
Last week, on April 20th, Matt Damon, co-founder of Water.org, addressed ministers of finance, water, and sanitation from across the world at the Sanitation and Water for All (SWA) Finance Ministers’ High Level Meeting at the 2017 World Bank-IMF Spring Meetings. The meeting focused on finding ways to fill the enormous financing gap via innovative financial solutions. Mr. Damon urged ministers to consider the full breadth of financing options to achieve the goal of providing safe, affordable, and sustainable water and sanitation for all.
Efforts to foster collaboration between science and industry have long been a part of innovation policy in many countries. Firms stand to benefit from accessing the specialized infrastructure and expertise available in universities. Researchers gain access to practical problems that can provide greater relevance for their research, and to industrial capabilities for manufacture and assistance in commercializing their ideas to take them to market. Yet, there are barriers that inhibit collaboration, including financing constraints, information asymmetries, and transaction costs in negotiating collaboration agreements.
Public equity markets are seen as a critical component of a developed financial system, with such markets going back to the 18th and 19th century in many advanced economies. There have been therefore intensive efforts of donors and local government to establish such markets across the developing world, in the 1980s across Sub-Saharan Africa and in the 1990s across many transition economies. These efforts, however, have been met with mixed success, illustrated by the statement by a local market practitioner that “an entire year’s worth of trading in the frontier African stock markets is done before lunch on the New York Stock Exchange.”1 On the other extreme are markets such as China, which have developed rapidly over the past two decades, with many listed companies, high trade volume and a broad investor basis. What explains why some countries have well-developed public equity markets while others have shallow and illiquid markets?
Photo Credit: Women’s World Banking
Two years ago, Visa announced a commitment, alongside other organizations, to provide financial access to 500 million unbanked adults as part of the World Bank Group’s goal of achieving Universal Financial Access (UFA) by 2020. It’s widely reported that —no bank or savings account, no formal way to store or send money, no basic financial tools to manage life or business or help to generate income.
There was no doubt in our minds that Visa had a role to play, given the reach of our payments network and the fact that facilitating the issuance of digital payment accounts is our core business. What was not as clear was how much our efforts would need to factor in changes to strategy in order to ensure the kind of accounts people are receiving hit their mark in terms of usage and provided a genuine pathway to full financial inclusion.
The World Bank is pleased to release the 2017 Atlas of Sustainable Development Goals. With over 150 maps and data visualizations, the new publication charts the progress societies are making towards the 17 SDGs.
The Atlas is part of the World Development Indicators (WDI) family of products that offer high-quality, cross-country comparable statistics about development and people’s lives around the globe. You can:
- View the SDG Atlas online or download the PDF publication (150Mb)
- Access the WDI statistical tables and interactive SDG Dashboard
- Download and query the WDI database.
The 17 Sustainable Development Goals and their associated 169 targets are ambitious. They will be challenging to implement, and challenging to measure. The Atlas offers the perspective of experts in the World Bank on each of the SDGs.
For example, the interactive treemap below illustrates how the number and distribution of people living in extreme poverty has changed between 1990 and 2013. The reduction in the number of poor in East Asia and Pacific is dramatic, and despite the decline in the Sub-Saharan Africa’s extreme poverty rate to 41 percent in 2013, the region’s population growth means that 389 million people lived on less than $1.90/day in 2013 - 113 million more than in 1990
Note: the light shaded areas in the treemap above represent the largest number of people living in extreme poverty in that country, in a single year, over the period 1990-2013.
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