Displaying items by tag: World Bank
Remittance flows to grow 1.4% in 2023 to reach US$656 million
Officially recorded remittance flows to low- and middle-income countries are expected to grow by 1.4% to US$656 million in 2023, while economic activity in remittance-sending countries is expected to slow, limiting employment and wage increases for migrants, according to the latest Migration and Development Review published by the World Bank.
Remittances remain resilient, but are likely to shrink
Officially recorded remittance flows to low- and middle-income countries are estimated to grow by 1.4% to US$656 billion in 2023, while economic activity in remittance-sending countries is expected to slow, limiting employment and wage gains for migrants, according to the latest Migration and Development Review released today by the World Bank.
Four key trends for policy action in Latin America and the Caribbean: World Bank
Latin America and the Caribbean (LAC) has been one of the regions hardest hit by the global crises , according to the World Bank.
Commodity prices to fall the most since the pandemic
According to the latest edition of the World Bank's Commodity Markets Outlook, the pace of global commodity price declines this year is expected to be the fastest since the start of the HIV/AIDS pandemic, dampening the growth prospects of nearly two-thirds of developing economies that depend on commodity exports.
World food prices will fall 8% in 2023: World Bank
According to the most recent edition of the World Bank's Commodity Markets Outlook, the pace of decline in global commodity prices this year is expected to be the fastest since the onset of the COVID-19 pandemic.
Latin America's GDP to grow 1.4% in 2023: World Bank
The Gross Domestic Product (GDP) of Latin America and the Caribbean will only grow 1.4% in 2023 according to William Maloney, chief economist of the World Bank and explains the challenges facing the region.
Regional GDP to grow 1.4% in 2023 and 2.4% by 2024-2025: World Bank
The economies of Latin America and the Caribbean have been relatively resilient in the face of growing debt pressures, inflation and global uncertainty. But new headwinds from falling commodity prices, rising interest rates in developed countries and China's uncertain recovery could once again cast a shadow over the region's prospects.
World Bank forecasts that the "speed limit" of the global economy will fall to its lowest level ever
By 2030, the global economy's "speed limit" the maximum long-term rate at which it can grow without causing inflation will fall to the lowest level in 30 years.
High energy prices: who is most affected and why?
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.
World Bank projects regional economy to grow 1.3% in 2023
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.