Displaying items by tag: World Bank

Energy prices rose sharply over the last year, a trend that was exacerbated by Russia's invasion of Ukraine. Although energy prices are expected to decrease by 11% in 2023, if that projection materializes, they would still be 75% higher than the average of the last five years in Latin America.

The World Bank explained that after a 6.9% rebound in 2021, the regional economy grew 3.6% in 2022 and is expected to grow 1.3% in 2023.

Policymakers and business leaders gathered these days at the World Economic Forum in Davos face a Gordian knot of problems.

According to the World Bank, as a result of the COVID-19 pandemic, global debt has increased. Today, 58% of the world's poorest countries are over-indebted or at high risk of becoming so, and the danger is spreading to some middle-income countries as well.

The Inter-American Institute for Cooperation on Agriculture (IICA) will launch this Thursday, December 1, the study "Rural connectivity in Latin America and the Caribbean: status, challenges and actions for digitization and sustainable development," in a virtual event with the participation of ministers and secretaries of agriculture of countries in the region and representatives of the private sector.

According to Bloomberg magazine, close to 2 million small farmers in El Salvador, Guatemala and Honduras who operate without insurance despite the increased frequency of hurricanes in recent months, will receive support from international institutions such as the World Bank.

According to the World Bank, El Salvador has experienced modest economic growth in recent decades, with annual Gross Domestic Product (GDP) growth exceeding 3 percent only twice between 2000 and 2020.

According to an analysis conducted by the World Bank, between higher inflation, slower growth, tighter financial conditions, there is a fourth element, however, that could make the situation explosive and that is the high debt of emerging markets and developing economies.

The minister of Finance, Alejandro Zelaya, signed a US$100 million retroactive financing agreement with the Banco Internacional de Reconstrucción y Fomento (BIRF), an institution of the World Bank Group through its new representative in El Salvador, Carine Clert.

Ministers and Vice Ministers of Agriculture of Latin America and the Caribbean discussed the emergency policies that their countries are implementing to mitigate the impact of increases in the price of food and the inputs needed to produce it due to the war in Eastern Europe.