Elevated commodity prices could prolong inflationary pressures
WASHINGTON, October 26, 2022—The shrinking value of the currencies of most developing economies is driving up food and fuel prices in ways that could deepen the food and energy crises that many of them already face, according to the World Bank’s latest Commodity Markets Outlook report.
year since 2000. Recent diseases such as SARS, avian influenza, Ebola – and the enormous health, economic, and societal impacts of COVID-19 – have not yet solicited global unity on the importance of preventing pandemics rather than responding to outbreaks as they emerge. What will it take for world leaders, countries, organizations, and communities to understand that prevention is better than cure? The World Bank’s latest flagship report, “Putting Pandemics Behind Us: Investing in One Health to Reduce Risks of Emerging Infectious Diseases,” is a clarion call for the universal adoption of an integrated approach to sustainably balance and optimize the health of people, animals, and ecosystems.East Asia prides itself on rapid economic progress over the past few decades with millions
lifted out of poverty. Between 2008 and 2018, real per capita GDP in the region grew at an average rate of 6.7 percent per year, significantly above the global average of 1.5 percent. Yet the extent of progress on poverty is exaggerated by the fact that poverty thresholds are set too low compared to other countries at similar income levels. This leads to policies which do not do justice to the scale of the problem. New numbers released by the World Bank using global benchmarks underscore this point.
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below.
Procurement Framework and Regulations for Projects After July 1, 2016 (worldbank.org)
Domestic food price inflation remains high around the world. Information between May to
September 2022 shows high inflation in almost all low-income and middle-income countries; 88.9% of low-income countries, 91.1% of lower-middle-income countries, and 96% of upper-middle-income countries have seen inflation levels above 5%, with many experiencing double-digit inflation. The share of high-income countries with high food price inflation has risen to 85.7%.
The COVID19
pandemic triggered a historic setback, pushing 70 million people into extreme poverty in 2020 – the largest one-year increase in three decades. The war in Ukraine deepened the global economic slowdown, which is now in its steepest decline following a post-recession recovery since 1970.
Interested in Doing Business with the World Bank Group? Please see selected opportunities below.
Procurement Framework and Regulations for Projects After July 1, 2016 (worldbank.org)
Interested in Doing Business with the World Bank Group? Please see selected opportunities below.
Procurement Framework and Regulations for Projects After July 1, 2016 (worldbank.org)
The headlines are grim. And they set an unavoidable backdrop for this year’s Annual Meetings of the World Bank Group and the International Monetary Fund. The Meetings provided an opportunity to raise the alarm to these dangers—and discuss how to move forward to help the poor and vulnerable.
Netherlands for the World Bank 
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