Growth and Stability During Crises

In his speech from Niamey, Niger, World Bank Group President David Malpass addressed the challenges facing development policy, including the need for macroeconomic stability, the importance of private capital to international integration, and the increasing need to support global public goods.

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Gas Flaring

Global Gas Flaring Falls to Lowest Level Since 2010

Progress in reducing gas flaring resumed in 2022, with gas flared worldwide falling by 5 billion cubic meters (bcm) to 139 bcm, its lowest level since 2010, according to new satellite data compiled by the World Bank's Global Gas Flaring Reduction Partnership (GGFR). Three countries, Nigeria, Mexico, and the United States, accounted for most of the decline in global gas flaring in 2022. Two other countries—Kazakhstan and Colombia— stand out for consistently reducing flaring volumes in the last seven years.

World Bank Live

The Way Forward: A Conversation with Mohamed El-Erian

How can developing countries address rising interest rates, depreciating currencies, and stagnant growth? What can central banks and other financial institutions do to manage these crises? World Bank Group President David Malpass and President of Queens' College, Cambridge University, Mohamed El-Erian will have a conversation about global macroeconomic trends and their effects on development. Join us April 5 at 9:30am EDT for the conversation.

Economic Updates

East Asia and Pacific Regional Economic Update: Reviving Growth

The latest Economic Update for the East Asia and Pacific region, launched on March 31, shows the region has recovered from the recent shocks and is growing. However, output remains below pre-pandemic levels in many countries and inflation remains higher than target ranges in some countries. Read more here

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More than half of all reforms captured were implemented in Sub-Saharan Africa region by seven economies

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In 2022, the global average score on the World Bank’s Women, Business and the Law index rose just half a point to 77.1—indicating women, on average, enjoy barely 77 percent of the legal rights that men do. At the current pace of reform, in many countries a woman entering the workforce today will retire before she will be able to gain the same rights as men, the report notes. This year, 18 countries enacted 34 reforms, the lowest number of reforms in 20 years. But more than half of all reforms captured were implemented in the Sub-Saharan Africa region by seven economies. Learn More.

Globally, roughly half of working age women participate in the labor force, which is significantly lower than the male labor force participation rate of around 80%. This gap is virtually unchanged from what it was three decades ago. And there are sizeable differences in the level of female labor force participation across regions. Moreover, women tend to face inferior income opportunities and on average earn less than men. Explore more aspects of female labor force participation through this data story.

According to the latest statistics (see below), more than one in five women were first married before the age of 18, with the practice of child marriage being most prevalent in Sub-Saharan Africa and South Asia. Beyond being a human rights violation, child marriage also greatly undermines women’s and girls’ economic opportunities. It limits child brides’ access to education, reduces their future earnings, jeopardizes their health, and puts them at a heightened risk of domestic violence. Data on the economic impacts of child marriage provide the foundation for advocacy campaigns to end the practice. Learn more.