The global economic expansion appears to have peaked, with diverging growth prospects worldwide and intensifying risks, the latest OECD Interim Economic Outlook says. Escalating trade tensions, tightening financial conditions in emerging markets and political risks could further undermine medium-term growth globally.
Fewer people are living in extreme poverty, but the decline in poverty rates has slowed, raising concerns about achieving the goal of ending poverty by 2030 and pointing to the need for increased pro-poor investments, the World Bank finds. The percentage of people living in extreme poverty globally fell to a new low of 10% in 2015.
A ministerial statement by G20 trade ministers, the first in more than two years, calls for keeping markets open, addressing economic development and reinvigorating the international trading system.
GEGAfrica Event Report, September 2018
As a complement to our previous blog in which we looked at a range of policy instruments to support the enabling-market approach to digital policy formation, this blog delves into some of the instruments that developing countries can use when adopting a more interventionist policy approach – the ultimate goal being ‘digital catch-up’.
In our previous blog, we looked at the two broad policy approaches that developing countries could adopt to enhance their digital preparedness: an enabling approach and a digital catch-up approach. Linked to these two approaches are various policy instruments that can be used to steer the policy implementation process.
Embracing digitalisation is not an option for countries. The digital era has arrived and its effects will increasingly be felt as time goes by. Whether the developing world will be able to grasp the unfolding opportunities and not be overwhelmed by the challenges will depend on the policies that countries formulate and the diligence with which they implement them. Left to its own devices, the digital economy will simply widen the digital divide and exacerbate countries’ economic problems.
Turning constraints into opportunities to attract and mobilise private sector investments, both domestic and foreign, is the guiding spirit of the fourth Investing in Africa Forum: Deepening Investment Co-operation and Harnessing Innovation for Sustainable Development and Shared Prosperity.
2008 was a shock to the system and a wake-up call, showing us that conventional economic analyses and models were insufficient to address the complexity of the modern global economy.
The World Bank Group on 11 September launched the Development Finance Forum in Kigali, Rwanda, for global public and private sector leaders to explore and demonstrate strategies to boost private sector investment in East Africa’s priority sectors, notably, housing, agriculture and tourism.
The GEGAfrica project has been funded by UK aid from the UK government; however the views expressed do not necessarily reflect the UK government’s official policies.