Economics & Development

Papua New Guinea (PNG) remains at high risk of debt distress under the Low-Income Country Debt Sustainability Framework (LIC-DSF), with weak debt-carrying capacity. External debt risks are elevated due to liquidity risk associated with the bullet payment on the existing Eurobond in 2028 and higher official bilateral and multilateral debt service payments in the first half of the forecast horizon. Domestic debt vulnerabilities are also elevated contributing to persistent breaches of the present value (PV) of overall debt to gross domestic product (GDP) ratio. The planned fiscal consolidation helps address debt vulnerabilities, while the risks of external and overall public debt distress are assessed as high. Over the medium-term, public debt will trend downward, while the breaches of liquidity indicators can be addressed by debt management operations and enhanced revenue generation. The Debt Sustainability Analysis (DSA) suggests that PNG is susceptible to trade-related and contingent liabilities shocks, as well as climate change, underscoring downside risks to the public debt outlook. Fiscal consolidation, structural reforms fostering private sector growth, and addressing climate risks will lower the risk of public debt distress and support sustainability. Conditional on the implementation of the authorities’ planned fiscal consolidation and conservative financing strategies, public debt is assessed as sustainable.

This document outlines the Hyderabad Electric Supply Company (HESCO)'s commitments under the Women in Power Sector Professional Network in South Asia (WePOWER), supported by the World Bank’s South Asia Gender and Energy Facility II (SAGE II). The agreement presents planned activities for 2023 and 2024 across key WePOWER pillars, including recruitment, professional development, retention, and policy and institutional change. Proposed initiatives include internships for female engineering students, recruitment of women professionals, leadership opportunities, capacity-building training, gender awareness workshops, establishment of childcare and women-friendly facilities, and implementation of policies promoting gender equality and protection against workplace harassment. The agreement aims to strengthen women’s representation and career advancement in Pakistan’s power sector while supporting broader institutional and cultural changes that promote gender inclusion in STEM and energy-related professions.

The Gambia’s overall and external debt distress risk ratings remain high, and public debt continues to be deemed sustainable, similar to the previous DSA. Under the updated macro framework, the external debt service-to-revenue ratio breaches the threshold, primarily reflecting rising debt service commitments in the medium term. Heightened domestic debt vulnerabilities contribute to the breaches of the PV of the overall debt-to-GDP ratio. However, risks are mitigated by the projected drop below its 55 percent GDP benchmark in 2026, underpinned by fiscal consolidation, reliance on grants and concessional loans, and support from development partners. This path indicates that the public debt outlook remains sustainable. The debt dynamics remain vulnerable to multiple macroeconomic shocks, particularly those related to exports. Downside risks are linked to an escalation or spread of global and regional conflicts, with the ensuing global commodity price volatility and disruptions of global supply chains, which, together with an abrupt global slowdown, could weaken The Gambia’s economic recovery, intensify fiscal pressures, and adversely affect the debt profile.

The updated Bank-Fund debt sustainability analysis (DSA) for Rwanda indicates a moderate external and overall public debt distress risk. The current debt-carrying capacity is consistent with a classification of ‘strong’. The baseline scenario is based on the macroeconomic projections presented in the accompanying staff report for the fourth PCI/RSF review and the second SCF review. Rwanda’s financing strategy assumes continued support from official development partners over the medium term, with highly concessional loans for new external borrowing under IDA20 and an increasing share of domestic financing in the long term. Debt indicators and standard stress tests classify debt sustainability risks as moderate with limited space to absorb shocks, with near-term breaches of the benchmark for PV of public debt to GDP and the threshold for PV external debt-to-GDP highlighting vulnerability to external and climate shocks. Heightened uncertainty around key external risks to concessional financing over the medium term, baseline risks to domestic resource mobilization, and sustained exchange rate pressures could intensify debt sustainability risks over the medium term. The authorities are encouraged to progress on fiscal consolidation, support external adjustment with accurate and effective exchange rate adjustment, and implement RSF reform measures to support their climate agenda.

La crisis económica y política en Venezuela ha provocado que más de 7,7 millones de ciudadanos venezolanos abandonen su país en busca de mejores oportunidades, convirtiéndose en el éxodo más grande a nivel regional. Más de 6,5 millones de personas venezolanas se han asentado, principalmente, en América Latina y el Caribe como destino final. En la región, Ecuador se ha convertido en el quinto país con mayor recepción de migrantes venezolanos, después de Colombia, Perú, Brasil y Chile. Este éxodo ha planteado importantes desafíos al Estado ecuatoriano que, gracias a su tradición humanitaria materializada en la Constitución, los ha asumido en cumplimiento de la norma suprema y sus obligaciones en materia de derechos humanos. Ecuador también ha sumado esfuerzos para abordar los flujos migratorios desde una perspectiva integradora, que reconoce el potencial que tiene la población migrante para aportar de manera importante y sostenida al desarrollo del país.

Lebanon has been reforming its public procurement system since 2019. Public procurement reform is a key commitment of the Government of Lebanon (GoL) for structural fiscal reforms made at the Conférence économique pour le développement, par les réformes et avec les entreprises (CEDRE) in 2018, in Ministerial Statements (2019-2021) and in the Staff-Level Agreement with the IMF (2022). Following the Methodology for Assessing Procuring Systems (MAPS) assessment supported by the World Bank, Lebanon ratified the PPL 244/2021 in July 2021. The Law entered into force in July 2022. Concurrently, the National Strategy for Public Procurement Reform (NSPPR) and its 2022-2024 action plan were approved by the Council of Ministers in May 2022. This summary report presents the results of a qualitative survey conducted in 2023 by the Institut des Finances Basil Fuleihan (IOF), in collaboration with Insights Analytica, to assess the implementation of Lebanon’s Public Procurement Law (PPL 244-2021), 15 months after it enters into force. It aims to determine the status of the PPL 244/2021 implementation and assess skills gaps and specific training needs of procuring entities at the central and local levels of government towards an informed professionalization process. It also proposes recommendations to assist Lebanon in improving implementation practices, training, and capacity building, in line with PPL 244-2021 and the reform strategic vision. The survey’s findings offer insights into the effectiveness of the legal and institutional execution of PPL 244-2021, highlighting internal and external challenges, as well as training needs across procuring entities and proposing recommendations towards an effective implementation of PPL 244/2021 provisions.

Turkmenistan is a land-locked, upper middle-income country, characterized by a rigid statist economic model, and driven by natural gas exports. Turkmenistan went through a period of adjustment as it first met with lower oil and gas prices and was further affected by the COVID-19 pandemic, with lower hydrocarbon demand, globally. In 2021–23, hydrocarbon global demand and prices rebounded, boosting economic activity and gross domestic product (GDP) growth. In February 2022, Turkmenistan adopted its long-term 2022-2052 National Program of Socio-Economic Development and the medium-term 2022-2028 Presidential Program to implement the longer-term program. The outlook is positive for 2025, with overall commodity prices expected to remain well above pre-pandemic levels. The boost to hydrocarbon production will help to increase Turkmenistan’s trade surplus further and maintain current account surpluses in 2024 and 2025. Faster expansion of gas production and exports, as well as strong revenue from energy and non-energy products, are projected to maintain the state budget balance in small surplus in 2024 and 2025. The outlook is subject to significant uncertainty and risks. Turkmenistan needs to navigate a series of challenges as it aims to progress to sustainability and reach high-income status.

This document collection explores the use of advanced technologies, particularly Earth observation data, to enhance disaster preparedness and resilience. It delves into various applications of this data, including its role in disaster risk assessment, response, and recovery efforts. The collection also examines the processing and analysis of LiDAR data, a crucial component in generating detailed 3D models of the Earth's surface, which are essential for understanding terrain and infrastructure vulnerabilities.