Total external debt of low- and middle-income countries climbed 5.3 percent to $7.8 trillion last year, while net debt flows (gross disbursements minus principal payments) from external creditors tumbled 28 percent to $529 billion, the World Bank’s International Debt Statistics 2020 shows.
Mini grids have the potential to provide electricity to as many as 500 million people by 2030, with the right policies and about $220 billion of investment to build around 210,000 mini grids.
Crude oil prices are expected to average $66 a barrel in 2019 and $65 a barrel in 2020, a downward revision from the October forecast due to the weaker-than-expected global growth outlook and greater-than-anticipated U.S. production, the World Bank said.
In the DRC, the use of informal financial services remains strongly anchored among the population. In this context, a careful selection of agents appears to be a good alternative at a lower cost to the provision of financial services.
“At the beginning of 2018 the global economy was firing on all cylinders, but it lost speed during the year and the ride could get even bumpier in the year ahead. As economic and financial headwinds intensify for emerging and developing countries, the world’s progress in reducing extreme poverty could be jeopardized. To keep the momentum, countries need to invest in people, foster inclusive growth, and build resilient societies.”
Kristalina Georgieva World Bank Chief Executive Officer
“Ensuring that all people can access the health services they need without facing financial hardship is key to improving the well-being of a country’s population..” World BanK
While global economic prospects continue to moderate, and risks have heightened, Cambodia continues to grow, according to the latest edition of the World Bank’s Cambodia Economic Update report, released on Wednesday.
