Economics & Development

The L2KGZ survey provides high-frequency data on social and economic well-being in the Kyrgyz Republic. Initiated in December 2021, the survey monitors the well-being and opinions of a representative sample of the population. This brief examines trends in household well-being, financial security, food security, and perceptions of governance in the Kyrgyz Republic between December 2021 and October 2024.

Benin’s overall and external public debt remains at moderate risk of debt distress, unchanged from the previous Debt Sustainability Analysis (DSA). All projected external debt burden indicators remain below high-risk thresholds under the baseline scenario, except for a temporary breach to the debt service-to-revenue ratio that occurred following a liability management operations (LMO) completed in 2024Q1, using a third of the proceeds of 2024 Eurobond. While the Eurobond’s proceeds are largely substituting for costlier domestic financing, additional external debt has further limited the space to absorb shocks. External debt burden indicators breach high-risk thresholds in selected stress tests, particularly for export and market financing shocks. High debt service-to-revenue ratio leaves debt vulnerable to revenue underperformance or shifts in market sentiment that could increase rollover costs. Alongside sustained revenue mobilization efforts, a borrowing strategy that continues to prioritize concessional terms, active debt management, and an updated medium-term debt strategy that rebalances the debt portfolio towards more domestic debt will reduce the risk of debt distress.

Tento rok subnárodná séria B-READY pokrýva 40 miest v šiestich členských štátoch EÚ – Bulharsku, Chorvátsku, Maďarsku, Portugalsku, Rumunsku a Slovenskej republike – pokrývajúc 36 európskych regiónov. V Slovenskej republike subnárodný B-READY pokrýva päť miest v štyroch regiónoch na úrovni NUTS2: Bratislava (Bratislavský región), Košice (východný), Prešov (východný), Trnava (západný) a Žilina (centrálny). Hlavným cieľom subnárodných štúdií B-READY je identifikovať a riešiť regionálne rozdiely v regulačnom prostredí a podporovať reformy, ktoré podporujú rast súkromného sektora, tvorbu pracovných miest a udržateľnosť. Subnárodná séria B-READY prináša dôkladnú, dátovo podloženú analýzu podnikateľského prostredia na miestnej úrovni, ktorá prináša praktické poznatky pre tvorcov politík.

The specific engagement presented in this report focused on strengthening the capacity of the Consultative Council as the oversight body and quality control gatekeeper for RIAs. The Consultative Council provides opinions on proposed regulations across a wide range of technical topics and sectors. As part of its capacity-building efforts, it was crucial to clarify that the Council is not expected to be experts in all these fields. Instead, its primary role is to specialize in Regulatory Impact Assessment (RIA) and to offer sound guidance on the process and methodology. This ensures that evidence-based policymaking becomes integral to the regulatory process. To this end, and from the perspective of RIA implementation, the WB team has provided analytical support to the Consultative Council in assessing the quality of IPMs that accompanied draft legislative acts proposals, between 2023 and November 2024. The WB team was invited to all Consultative Council’s meetings since its establishment and attended all of them. Annex 1 provides the calendar of these meetings. The team provided, at request, on-the-spot methodological and technical guidance on issues raised by the Consultative Council’ members during the deliberative meetings. In addition, the team provided in advance detailed technical inputs on twelve IPMs, considered more complex by the Consultative Council and its Technical Secretariat. The WB team presented these technical inputs during the meetings and addressed any clarification questions raised.

This document consists of a summary of best practice standards for coal mine closure and aftercare, complemented by a practitioner’s guide. In combination, these two modules can be used by coal enterprises, line ministries, technical agencies, as well as development partners, looking towards mine closures some 5-10 years ahead, to inform plans for closure, repurposing, and transition that have yet to be drafted. The document aims to serve as a benchmark and reference for the World Bank's coal transition engagements, providing global good practice guidance for coal enterprises and line ministries, as well as development partners. At the same time, the two modules serve as a risk-management tool in a type of engagement that is by its very nature characterized by a high environmental and social risk baseline. The two modules are designed to support the planning and implementation of mine closures, repurposing, and transitions in a forward-looking manner over the next 5-10 years. Additionally, the document functions as a risk-management tool, ensuring thorough understanding and management of environmental and social risks associated with coal mine closure and post-closure aftercare. These standards and guidance will be integrated into the World Bank's systematic coal transition approach, available to staff and clients. In conjunction with the Environmental and Social Framework (ESF), this work underscores the World Bank's commitment to proportionate due diligence and global knowledge sharing in coal mine closure practices.

Ghana’s development path, although registering past successes, faces a series of current and future challenges. Ghana succeeded in halving its poverty rate between 1991 and 2016, from 87 percent (US$3.65 per day in 2017 purchasing power parity [PPP]) to about 50 percent of the population, outpacing progress across Sub-Saharan Africa (SSA), along with improvements in health and education indicators. However, recent global crises have pushed poverty upward, as the country faces multiple challenges. Ghana needs to provide more and better jobs and foster inclusive productivity growth, especially through investments in human capital. At the same time, the country’s growth path is increasingly vulnerable to climate change and climate-related shocks. Tackling these challenges will require fiscal policy to promote macroeconomic stability, create the right incentives, and generate the necessary public investments.

Ghana needs to contain budget rigidities and increase its room for fiscal maneuver, notably by pursuing steadfast implementation of the three year IMF Extended Credit Facility (ECF) arrangement, which includes reforms to improve spending efficiency and PFM. In the short term, a successful implementation of the planned fiscal consolidation and debt restructuring is imperative for establishing and sustaining macroeconomic stability. In the longer term, reforms are needed to help entrench fiscal discipline and control the accumulation of new debt. In a context of limited fiscal space, maximizing public spending efficiency is crucial. While improvements in education outcomes have occurred, spending efficiency remains low compared to other developing economies. Similarly, the efficiency of public spending in infrastructure also lags, hindering potential gains to meet massive infrastructure needs.

2023 年对 SBFN 衡量框架的更新充分考虑了成员的优先事项和可持续金融的全球趋势。它涵盖了整个金融部门生态系统（包括银行、资本市场、保险和养老基金）的发展，反映了 SBFN 成员的多样性。它引入了新的优先事项，例如自然相关风险、包容性金融以及对应国际良好实践和标准制定的气候风险新指标。更新后的框架也力求通过量化指标衡量可持续金融的实施情况。