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“The crisis has deeply impacted virtually every economy in the world, and although growth has returned, much progress in the fight against poverty has been lost. More difficult international conditions in the years to come will mean that developing countries will have to place even more emphasis on improving domestic economic conditions to achieve the kind of growth that can durably eradicate poverty.� —Justin Yifu Lin, Chief Economist and Senior Vice President The World Bank 'Global Economic Prospects 2010: Crisis, Finance, and Growth' explores both the short- and medium-term impacts of the financial crisis on developing countries. Although global growth has resumed, the recovery is fragile, and unless business and consumer demand strengthen, the world economy could slow down again. Even if, as appears likely, a double-dip recession is avoided, the recovery is expected to be slow. High unemployment and widespread restructuring will continue to characterize the global economy for the next several years. Already, the crisis has provoked large-scale human suffering. Some 64 million more people around the world are expected to be living on less than a $1.25 per day by the end of 2010, and between 30,000 and 50,000 more infants may have died of malnutrition in 2009 in Sub-Saharan Africa, than would have been the case if the crisis had not occurred. Over the medium term, economic growth is expected to recover. But increased risk aversion, a necessary and desirable tightening of financial regulations in high-income countries, and measures to reduce the exposure of developing economies to external shocks are likely to make finance scarcer and more costly than it was during the boom period. As a result, just as the ample liquidity of the early 2000s prompted an investment boom and an acceleration in developing-country potential output, higher costs will likely yield a slowing in developing-country potential growth rates of between 0.2 and 0.7 percentage points, and as much as an 8 percent decline in potential output over the medium term. In the longer term, however, developing countries can more than offset the implications of more expensive international finance by reducing the cost of capital channeled through their domestic financial markets. For more information, please visit www.worldbank.org/gep2010. To access Prospects for the Global Economy, an online companion publication, please visit www.worldbank.org/globaloutlook.
In recent years, the country has sought to accelerate economic diversification, emphasising growth in its industrial, agricultural and service sectors. The second-biggest economy of the Economic and Monetary Community of Central Africa, which the country is chairing in 2013, Gabon has a population of 1.6m, according to the most recent data available from the World Bank. The country benefits from a wide base of natural resources, including large mineral deposits and timber, as well as arable land – all of which have helped feed its export revenues and boost headline indicators. However, it is the oil and gas sector that has been the dominant sector, with the country’s onshore and offshore blocks making it the fifth-largest producer on the continent. Production has been maturing recently, prompting the search to shift to deep-offshore blocks, but also encouraging greater diversification through the government’s Gabon Emergent strategy, which looks to channel capital and activity into key sectors such as tourism and manufacturing.
With just 1.63m people, Gabon is the second-smallest member of the six-country Central African Economic and Monetary Community in terms of population, after Equatorial Guinea. However, the country’s well-developed hydrocarbons sector has made Gabon the second-largest economy in the sub-region. The economy of Gabon has largely developed on the back of the country’s substantial oil and gas resources; however, declining production levels are leading the government to pursue a strategy of economic diversification. While efforts to encourage new investment and offshore oil exploration may yet yield results, the development of other industries, including forestry and mining, is being encouraged. Meanwhile, like many African countries, Gabon is working to ensure that a larger percentage of natural resource wealth is channelled into the national economy.
Given the decline in oil prices from mid-2014 on, the government’s drive to diversify the economy away from its traditional reliance on hydrocarbons in line with its Emerging Gabon Strategic Plan has taken on greater importance. Drawing on its sizeable timber and mineral reserves, Gabon aims to develop new industries and boost domestic value added with the ultimate goal of achieving emerging market status by 2025. In the meantime, however, weaker oil prices will likely cause complications for the next two to three years, as the authorities grapple with lower budgets and greater debt challenges.
The Minerals Yearbook is an annual publication that reviews the mineral and material industries of the United States and foreign countries. The Yearbook contains statistical data on materials and minerals and includes information on economic and technical trends and development. The Minerals Yearbook includes chapters on approximately 90 commodities and over 175 countries. This volume of the Minerals Yearbook provides an annual review of mineral production and trade and of mineral-related government and industry developments in more than 175 foreign countries. Each report includes sections on government policies and programs, environmental issues, trade and production data, industry structure and ownership, commodity sector developments, infrastructure, and a summary outlook.
Nationalism, especially supranationalism is the bane of global governance, and globalization. Whereas globalization seeks to unify the globe to function to advantage, supranationalisms operate to frustrate the coherence and achievement of this aim. This book delves into the Theories of Nationalism, the contours of supranational activity within global politics, international political economy, and global trade alliances vis-à-vis Africa. The book also identifies a list of African countries with identical issues, serial political difficulties, or time bombs ticking, and examines the performance of their political economies and new security challenges, using global indicators.
Children at risk of marginalization in education are found in all societies. At first glance, The lives of these children may appear poles apart. The daily experiences of slum dwellers in Kenya, ethnic minority children in Viet Nam and a Roma child in Hungary are very different. What they have in common are missed opportunities to develop their potential, realize their hopes and build a better future through education.A decade has passed since world leaders adopted the Education for All goals. While progress has been made, millions of children are still missing out on their right to education. Reaching the marginalized identifies some of the root causes of disadvantage, both within education and beyond, and provides examples of targeted policies and practices that successfully combat exclusion. Set against the backdrop of the global economic crisis, The Report calls for a renewed financing commitment by aid donors and recipient governments alike to meet the Education for All goals by 2015.This is the eighth edition of the annual EFA Global Monitoring Report. The Report includes statistical indicators on all levels of education in more than 200 countries and territories.