Tag Archives: Recession

World Bank Group Is Leading the Effort on Methane Emissions Reduction with Impactful Projects and Initiatives

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Given the short-term potency of methane, cost-effective interventions to reduce landfill-1methane emissions should be an immediate priority for the sectors with the largest emissions. The agriculture, energy, sanitation and waste sectors are collectively responsible for 90-95% of global anthropogenic sources of methane:

  • Agriculture accounts for ~41% of methane emissions from human activity, including from rice cultivation and agriculture waste burning, manure management, and gas from cows and sheep;
  • Energy accounts for ~35%, including from oil and gas extraction, pumping, transport and coal mining;
  • Sanitation and waste account for ~20%, including from landfills and wastewater treatment.

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Is a Global Recession Imminent?

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Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising Global-Recession-cover-285-220-2inflation and tightening financing conditions, has ignited a debate about the possibility of a global recession—a contraction in global per capita GDP. Drawing on insights gained from previous global recessions, this study presents a systematic analysis of the recent evolution of economic activity and policies, and a model-based assessment of possible near-term macroeconomic outcomes.

 

COVID-19 (Coronavirus) Drives Sub-Saharan Africa Toward First Recession in 25 Years

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WASHINGTON, April 9, 2020—Growth in Sub-Saharan Africa has been significantly shutterstock_1649775301impacted by the ongoing coronavirus outbreak and is forecast to fall sharply from 2.4% in 2019 to -2.1 to -5.1% in 2020, the first recession in the region over the past 25 years, according to the latest Africa’s Pulse, the World Bank’s twice-yearly economic update for the region.

“The COVID-19 pandemic is testing the limits of societies and economies across the world, and African countries are likely to be hit particularly hard,” said Hafez Ghanem, World Bank Vice President for Africa. “We are rallying all possible resources to help countries meet people’s immediate health and survival needs while also safeguarding livelihoods and jobs in the longer term – including calling for a standstill on official bilateral debt service payments which would free up funds for strengthening health systems to deal with COVID 19 and save lives, social safety nets to save livelihoods and help workers who lose jobs, support to small and medium enterprises, and food security.”

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