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1. The Development Committee met today, October 15, 2021. 2. The global economy is experiencing an uneven recovery, with uncertainty about the path of

Human development May 13, 2021 There is now a well-established critique that GDP alone does not capture human welfare quite well on its own. There is a need for a broader canvas to convey the meaning of people-centred development. Thanks to renowned Pakistani economist Dr Mahbub-ul-Haq, we have been seeing the UNDP Human Development Reports since 1990 based on the Human Development Index that ranks countries in the world on the basis of their performance on social indicators. Dr Hafiz Pasha was the lead author for the UNDP’s Pakistan National Human Development Report (NHDR) to flush out a...

Image The COVID-19 crisis has caused enormous loss of human life and triggered economic devastation of unprecedented proportions. However, in responding to the crisis, we have an opportunity to build back in a way that can tackle the mounting threat of climate change and environmental degradation.   Globally, the last seven years have been the hottest on record and the concentration of heat-trapping carbon dioxide in the atmosphere spiked to a record high recently. Rising temperatures pose a fundamental threat to growth, stability, and poverty reduction, which is why climate change is not ...

Yves here. Lynn Fries and her guest Richard Kozul-Wright, chief economist at UNCTAD, look at the prospects for the global economy after Covid and aren’t keen about what they see. The off and on recovery has benefitted the rich and left the poor behind, for the same reasons that the aftermath of global financial increased inequality: policymakers don’t want to change a hyper-financialized system. Even though a growing number of economists and commentators share this high-level view, Konzul-Wright and Fries explore the various mechanisms that have produced this current system, the fragiliti...

World Bank/IMF: Committee says COVID-19 pandemic causing economic shock, others On BY Peter Egwuatu The Development Committee of World Bank Group , WBG and International Monetary Fund, IMF on Friday said that the coronavirus, COVID-19 pandemic has caused an unprecedented public health, economic, and social crisis, threatening the lives and livelihoods of millions. The Committee stated this at the ongoing World Bank /IMF 2021 virtual Spring Meeting. According to a communiqué from the Committee:  “The economic shock is increasing poverty, worsening inequalities, and reversing development g...