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Poverty Reduction and Economic Management Network
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| Shared Growth Is Our Business |
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| PREM contributes to the design of global and country policies and the building of institutions to achieve shared growth in developing countries. | Poverty Reduction 
We help countries accelerate poverty reduction and develop strategies that are country-owned and results-oriented. More>> | Economic Policy and Debt
We produce policy and analytical work in the areas of growth, fiscal policy, strategic debt issues, and regional development. More>> | Public Sector Governance
 We help governments build efficient and accountable public institutions, create the foundations for good governance, and fight corruption. More>> | Trade
We work with developing countries to maximize gains from global trade, improve their trade infrastructure, and advocate changes in the world trading system to support development. More>> | Gender and Development
We promote equality of opportunity for women and men and foster women's economic empowerment in productive sectors. More>> | Global Development Architecture
 We promote an international framework and set of measures that support developing countries’ growth prospects and represent their interests in the global community. More>> |  | | What Is New? | The Bank Strenghtens GAC Work
 October 28, 2009— The crisis has really highlighted the importance of the accountability of government. That’s what we saw in many industrial countries. Citizens had placed trust in their governments and felt that that trust was compromised. “In these extraordinary times, we need extraordinary responses,” said PREM VP Otaviano Canuto. “GAC work is ensuring that our clients fight poverty more effectively and that Bank resources are used for this purpose."
Related Story: Interview with Debbie Wetzel, Sector Director, PRMPS |
| The Arrival of Asset Prices in Monetary Policy
by Otaviano Canuto, Vice President and Head of the Poverty Reduction and Economic Management (PREM) Network, World Bank October 2009 - The purpose of this note is to highlight how the special complexity and indeterminacy intrinsic to international monetary-financial relations will deepen under the new regime. In the case of financial transactions between advanced financial systems and emerging markets, there is in addition an asymmetrical impact in terms of higher foreign reserve requirements on the latter. Read more
| Strengthening WBG Engagement on Governance and Anticorruption
Second-Year Progress Report
October 2009 - The World Bank released in mid-October Strengthening World Bank Group Engagement on Governance and Anticorruption: Second-Year Progress Report. The Bank’s Governance and Anticorruption (GAC) Strategy was endorsed by the Board of Executive Directors in March 2007. At a time when rebuilding trust in institutions has emerged as a central challenge in the wake of the global economic crisis, the GAC agenda remains very much a priority. Read more
| PREM Network Vice President Otaviano Canuto Launches New Blog
Growth and Crisis: Building Capacity through Rethinking Development
Decoupling, Reverse Coupling and All That Jazz
September 2009 - In PREM Note 141 released last week, Milan Brahmbhatt and Luiz Pereira da Silva point to several structural differences between the global economy today and in the 1930s that tend to differentiate the current crisis from the Great Depression. The larger weight of faster-growing developing countries in the current world economy is among those differences, one that bodes well for recovery prospects. Read more>>> | The World Bank Succeeds Better at En-gendering Development
Interview with Mayra Buvinic, Director of Gender at the World Bank
July 2009- Buvinic discusses with PREM News the findings of the new report on the World Bank Group's efforts in gender. Implementing the Bank’s Gender Mainstreaming Strategy: FY08 Annual Monitoring Report highlights the increase in support and lending for gender-related issues in developing countries. Read interview.
| Unlocking Global Opportunities: The Aid for Trade Program of the World Bank Group  July 2009 - Aid for trade is a means to help developing countries, especially low-income countries, integrate into the world economy as a way to spur growth. The recent financial crisis and global recession have, if anything, made aid for trade more urgent. Trade worldwide is likely to contract in 2009. It has become a main channel through which recessionary impulses from the United States and Europe are transmitted to developing countries. But these forces will sooner or later reverse: when growth does resume, trade is likely to be a leading source of demand. Helping countries to take full advantage of the global recovery, whenever it comes, has become a priority for rekindling growth, as well as sustaining rising incomes into the future.
The aid-for-trade program of the World Bank Group, as with other donors, is multifaceted. It goes beyond concessional lending commitments to low-income countries. Read report
| Remarks of President Robert B. Zoellick at the WTO 2nd Global Review of Aid for Trade
July 6, 2009, Geneva, Switzerland | Funds Begin to Flow to Importers and Exporters under Global Trade Liquidity Program - Press Release
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| World Bank Increases Gender Support and Lending in Developing Countries
 “Women in developing countries are increasingly benefiting from World Bank support but we have to do much more to increase their economic well-being, especially at a time of crisis,” said World Bank Managing Director Ngozi Okonjo-Iweala. “In the long run, ensuring women’s access to earnings will speed up both the economic recovery and the fight against poverty.” Washington, July 2nd—The World Bank has increased support and lending for gender-related issues in developing countries in order to improve women’s social and economic conditions, according to Implementing the Bank’s Gender Mainstreaming Strategy: FY08 Annual Monitoring Report.
The report says that: - gender issues informed the design of 45 percent of all lending operations in fiscal year (FY) 2008 –from July 2007 to June 2008-- compared to 35 percent in fiscal year FY06: - gender coverage increased for the economic sectors –such as agriculture and rural development, economic policy, private sector development and infrastructure—from 25 percent to 34 percent; - coverage in social and related sectors jumped from 59 to 79 percent of all lending operations. Read more | Global Perspectives on the Economic Crisis
June, 2009 -- Washington DC. The world is going through one of the worst economic crisis since the Great Depression. What started as a financial crisis in the developed world has now become a global economic crisis, in which the global economy is expected to shrink for the first time since World War II. In this video, prominent experts and ministers from around the world share their views on how the crisis originated, how it is affecting the poor, and what countries are doing to get out of it. | Lusaka, April 7, 2009 — The World Bank Group today launched a US$40 million multi-donor trust fund to help countries improve their competitiveness and reduce trading costs through measures such as improving infrastructure, transport logistics and customs procedures. “International trade is key for poverty reduction, economic growth and employment, but the financial crisis is making transaction costs more expensive,” said Obiageli Ezekwesili, World Bank Vice President for Africa, during the North South Corridor Conference in Lusaka, Zambia. “The Trade Facilitation Facility will help poor countries reduce their trading costs and increase their competitiveness –both necessary ingredients for an economic recovery.” Due to the global recession, volumes of trade in goods and services are expected to drop 6.1 percent in 2009, with a significantly sharper contraction in trade volumes of manufacturing products, according to World Bank data. Read more | IMF-OECD-WB Seminar on the Response to the Crisis and Exit Strategies — Joint Statement
Experts from the IMF, the OECD, and the World Bank met on February 4th in Paris to exchange views and co‑ordinate responses to the global economic crisis. Discussions centred on the policy challenges posed by the deepening global financial turmoil and economic recession. Experts considered the implications of the evolving crisis for macroeconomic, fiscal, and social policy making in both advanced and developing countries, along with the priorities for regulatory and supervisory reforms. In examining the crisis, a number of common concerns emerged, including about new vulnerabilities as the crisis affects emerging and developing economies more deeply. More | | Inclusive Growth: Key to Identifying Development Priorities Interview with Elena Ianchovichina and Susanna Lundstrom, Senior Economists, World Bank 
Elena Ianchovichina | 
Susanna
Lundstrom |
“To be sustainable in the long run, growth should be broad-based across sectors, and inclusive of the large part of a country’s labor force.” In the Knowledge Brief, What is Inclusive Growth? the authors argue that inclusive growth analytics has a distinct character focusing on both the pace and pattern of growth. The paper describes the conceptual elements for an analytical strategy aimed to integrate these two strands of analyses, and to identify and prioritize the country-specific constraints to sustained and inclusive growth. In this interview the authors discuss Inclusive Growth and how it affects our work on poverty.
 Related Link: Inclusive Growth Website
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