International labor markets are perhaps the last bastion of protectionism. We know that easing restrictions on the movement of people, especially the less skilled, can unleash huge welfare gains which by some estimates dwarf the gains from complete trade liberalization. And yet, progress on this front has been too slow.
The Middle East and North Africa region is on the front lines of climate change. According to the World Bank report Turn Down the Heat: Why a 4 ͦ C Warmer World Must be Avoided (WB, 2012), the region is steadily getting hotter and drier. Of the 19 countries that set new national temperature highs in 2010, the warmest year globally since records were first kept in the 1800s, five were Arab states.
It was once located on the grounds of the Uruguayan Embassy in Lebanon, and the name has somehow stuck. Now, Uruguay Elementary School is in a new building in an altogether different, bustling area of Beirut. It is hard to recognize it as a school at first: a seven-story building among other tall offices and manufacturing plants beside a major thoroughfare.
With newspaper headlines focused on violence and political upheavals across the Middle East and North Africa region, it is easy to forget that an annual beginning is also underway. Children from the Mashreq to the Maghreb have started going back to school. Parents are buying school supplies for little ones and millions of teenagers are going down a path that may shape their future careers. This week, Voices and Views presents Back to School 2013 - a series focused on the challenges that both teachers and students face in the region, and the policies and programs that can change a generation.
Microfinance – defined as the access to and usage of quality financial services, including savings, credit, insurance and money transfer systems - is crucial for low-income households to manage cash flows to finance day-to-day living, manage risks, invest productively, and respond to financial shocks.
The low levels of financial inclusion in the Middle East and North Africa region, however, have left many with limited access to any sort of financial services. This is especially true for certain groups such as women and young people.
From the World Bank office in Tripoli, Representative Marouane El Abassi outlines his commitment to helping Libya build a new state, with a strategy that ensures the right skills and expertise are delivered at the right time.
Islamic Finance and Financial Inclusion: A Case for Poverty Reduction in the Middle East and North Africa?
The Middle East and North Africa region is home to about 70 million of the world’s poor (living on less than two dollars per day) and 20 million of the world’s extremely poor (living on less than US$1.25 per day). According to a recent Gallup survey, 95 percent of the adults residing in MENA define themselves as religiously observant. The combination of these two facts has produced a growing interest in Islamic finance as a possible tool for reducing poverty through financial inclusion among the region’s religiously conscious Muslim population.
This week’s mass demonstrations in Egypt and assassination of an opposition leader in Tunisia -- not to mention the continuing conflict in Syria -- highlight the turmoil and uncertainty facing many countries in the Middle East and North Africa.To track the effects of these and other developments on the economy, the MENA Quarterly Economic Brief provides a real-time review, using high-frequency data, of five countries that are at risk of sluggish economic growth in 2013.
Whether constructing a new bridge or buying textbooks for a public school, governments around the world constantly purchase a wide variety of goods and services. In the countries of the Middle East and North Africa, these types of public contracts represent between 15 percent and 20 percent of GDP each year, an annual amount equal to tens of billions of US dollars.
"Syria's neighbors, Lebanon and Jordan in particular, have shown tremendous hospitality and tremendous generosity [in hosting the influx of Syrian refugees]. The international community needs to help them carry that burden, as they should not have to bear it alone." Ferid Belhaj, World Bank Country Director.