Investment Rating - The report does not explicitly provide an investment rating for the agricultural sector in Brazil or Santa Catarina Core Insights - The agricultural sector in Brazil has shown resilience during economic downturns, contributing significantly to GDP and food security, particularly during the COVID-19 pandemic [28][36] - Santa Catarina's agricultural sector has experienced dynamic growth, with a notable increase in agricultural exports and contributions to the state's economy [75][56] - The report emphasizes the need for public policy reforms to enhance competitiveness, sustainability, and inclusivity in the agrifood sector [31][75] Summary by Sections Economic Performance of the Agricultural Sector - Brazil's GDP growth has slowed, with a recorded GDP of 7.6 trillion reais in 2020, reflecting a 3.0% annual growth rate, down from 12.6% in 2011 [33][34] - The agricultural sector's value added grew by 39.9% in 2020, significantly outperforming other sectors, and contributed 5.7% to the total GDP [36][40] - Santa Catarina contributed 4.6% to Brazil's GDP in 2020, showing an increase from 4.0% in 2011 [44] Evaluation of Support for Agriculture in Santa Catarina - The report evaluates monetary transfers to agriculture in Santa Catarina from 2017 to 2021, using OECD methodologies to estimate Producer Support Estimates (PSE), Consumer Support Estimates (CSE), and Total Support Estimates (TSE) [82][84] - The PSE for Santa Catarina reflects the annual monetary value of transfers to agricultural producers, while the CSE indicates the impact of policies on consumers [85][86] - The TSE quantifies all gross transfers resulting from agricultural support policies, providing insights into the overall support landscape for the sector [88][89] Recommendations - The report suggests reforms aimed at fostering a competitive, green, and resilient agricultural sector in Santa Catarina, highlighting the importance of adapting public policies to current economic realities [31][75]

Investment Rating - The report does not explicitly provide an investment rating for the agricultural sector in Brazil and São Paulo Core Insights - The agricultural sector in Brazil has shown resilience and growth, contributing significantly to GDP despite overall economic slowdowns, with a Compound Annual Growth Rate (CAGR) of 8.6% from 2011 to 2020 [35] - Agricultural exports increased by 35.6% in 2022 compared to the previous year, highlighting the sector's importance in the economy [54] - The report emphasizes the need for policies that enhance competitiveness, sustainability, and inclusivity in the agrifood sector [27] Economic Performance of the Agricultural Sector - Brazil's GDP was recorded at 7.6 trillion reais in 2020, with a growth rate of 3.0%, a significant decrease from 12.6% in 2011 [31] - The agricultural sector's value added grew by 39.9% in 2020, indicating its dynamic role in the economy [35] - In 2020, the agricultural sector contributed 5.7% to Brazil's total GDP, an increase of 1.6 percentage points over ten years [37] Evaluation of Agricultural Support in São Paulo (2017-2021) - The report utilizes OECD methodology to assess monetary transfers to agriculture in São Paulo, focusing on Producer Support Estimates (PSE), Consumer Support Estimates (CSE), Total Support Estimates (TSE), and General Service Support Estimates (GSSE) [79] - The analysis covers the impact of state government agricultural policies on producers and consumers, excluding national policies [79] - The PSE for São Paulo includes market price support and budget support, with a focus on key products like orange, soybeans, sugar, beef, and pork [100]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report introduces the concept of Massive Modular Ecosystems (MMEs) as a framework for understanding the complexity of digital industries, emphasizing the interplay between modular and non-modular governance structures [4][17][49] - It highlights the mobile phone industry as a case study, illustrating how MMEs enable distributed innovation and rapid scaling across interconnected sub-ecosystems [4][19][49] - The report discusses the implications of MMEs for market structure, technological innovation, and global economic geography, noting the risks associated with aggressive policy interventions and the challenges of building self-sufficient domestic industries [4][18][49] Summary by Sections 1. Introduction - The global economy is transforming due to digitization and modularization, leading to interconnected industries that challenge traditional governance models [17][18] 2. Literature Review - The literature on modularity, global value chains (GVCs), and business ecosystems is reviewed, identifying gaps in understanding the complexity of modern industries [22][41] 3. Toward an Integrated Governance Framework - A unified analytical framework is proposed to capture the layered and nested nature of MMEs, emphasizing the importance of both modular and non-modular governance structures [48][49] 4. The Mobile Phone Industry as a Massive Modular Ecosystem - The mobile phone industry is analyzed to demonstrate the dynamics of MMEs, focusing on subsystem design, production, and distribution [4][19][58] 5. Technology and Innovation, Market Structure, and Geographic Outcomes - The report discusses how MMEs influence technological innovation, market structure, and geographic clustering, highlighting the interdependencies created by modular governance [5][18][20] 6. Discussion - The implications for theory, strategic management, and policy are explored, emphasizing the need for a nuanced understanding of governance structures in complex industries [6][21][30] 7. Conclusion - The report concludes by reiterating the significance of MMEs in navigating the complexities of digital industries and the importance of understanding governance dynamics [21][30]

Public Disclosure Authorized Infrastructure Monitor 2024 Executive summary Public Disclosure Authorized Infrastructure Monitor 2024 Executive summary 2 About The Infrastructure Monitor report covers global trends in private investment in infrastructure to inform investors, policy-makers and other practitioners. The objective is to deliver global insights on global infrastructure trends across key topics such as investment volumes, performance, blended finance, and ESG drivers, facilitating the monitoring of ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Understanding the heterogeneity of poor households in Pakistan is crucial for identifying pathways out of poverty through targeted policy actions [4][12] - The analysis categorizes the bottom 40th consumption percentile of households (B40) into five distinct groups using non-parametric hierarchical cluster analysis [4][16] - The findings indicate that poverty is not uniform and varies significantly across different groups, necessitating differentiated policy interventions [12][16] Summary by Sections Introduction - Between 2001 and 2018, Pakistan experienced a 60% growth in household real consumption, leading to a decline in poverty from 64.3% to 21.9% [7] - Despite the overall decline in poverty, significant disparities remain across provinces and between urban and rural areas [8][10] Data and Methodology - The analysis utilizes data from the Household Integrated Economic Survey (HIES) 2018-19, covering 24,809 households [20][22] - A hierarchical clustering method is employed to identify distinct groups within the B40 based on various household characteristics [14][55] Results - Five meaningful clusters among the B40 households are identified: 1. Ultra-poor rural households relying on unskilled sharecropping and public safety nets [16][57] 2. Poor rural households engaged in agriculture as owner-cultivators [16][64] 3. Households in transition between agriculture and service provision [16][64] 4. Urban households with higher education and semi-skilled jobs in industry and services [16][64] 5. Poor households engaged in unskilled daily wage labor in construction and services [16][64] - The asset framework of shared prosperity is used to analyze the characteristics and constraints of each group [62][65] Group Characteristics - Group 1 consists of remote, rural, shock-prone households with low education and asset ownership [73][82] - Group 2 includes rural households involved in on-farm activities, showing better asset ownership and human capital compared to Group 1 [85][92] - Group 3 represents remittance-receiving households with low employment, often missing a working member who has migrated [93][95] - Group 4 comprises urban households with higher education and asset ownership, performing better than the national average [96]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The economy continues to recover, with growth, fiscal balances, and external buffers exceeding expectations in 2024. However, household incomes, employment, and non-monetary welfare remain well below pre-crisis levels [20] - Medium-term growth is expected to remain modest due to the scarring effects of the crisis, structural impediments to growth, and significant global economic uncertainties [20] - Continued macroeconomic stability and successful implementation of structural reforms are crucial for medium-term growth and poverty reduction [20] Context - The Sri Lankan economy is emerging from its worst post-independence economic crisis, characterized by a sharp economic contraction, high inflation, currency depreciation, and a rapid fall in international reserves [21] - The government implemented a series of reforms to restore macroeconomic stability, including cost-reflective utility pricing, new revenue measures, and prudent monetary policy [23] - Following these reforms, the economy began to stabilize from mid-2023, with positive quarterly GDP growth, easing inflation, and improved public debt-to-GDP ratios [24] Recent Developments - The economy grew by 5 percent in 2024, surpassing the previous projection of 4.4 percent [30] - Growth was driven by a rebound in industry (11 percent y-o-y) and a strong performance in tourism-related services (2.4 percent y-o-y) [32] - Inflation dropped significantly, reaching -4.2 percent y-o-y in February 2025, driven by adjustments in energy prices and subdued household demand [38] Fiscal Performance - The primary balance recorded a surplus of 2.2 percent of GDP, surpassing expectations [73] - Tax revenues increased from 9.9 to 12.4 percent of GDP between 2023 and 2024, primarily driven by VAT collections [77] - The fiscal deficit is estimated to have fallen to 6.8 percent of GDP, limited by a high interest bill amounting to 9 percent of GDP [79] Debt Indicators - The stock of public and publicly guaranteed (PPG) debt is estimated to have fallen from 111.7 percent of GDP at end-2023 to 102.4 percent at end-2024 [85] - Debt restructuring has made significant progress, with bilateral agreements being finalized to restructure US$10 billion of official and Exim Bank of China debt [90] Poverty and Vulnerability - The poverty rate was 24.5 percent in 2024, nearly double what it was in 2019, with household incomes remaining below pre-crisis levels [93] - Malnutrition increased, raising concerns over long-term impacts on human capital formation [94] - Employment and real wages remain below pre-crisis levels, contributing to increased emigration [98] Outlook - Medium-term growth is expected to be modest at around 3.1 percent, with the current account projected to revert to a modest deficit in 2025 [103] - Poverty is expected to decline to 22.7 percent in 2025, but the economic crisis is anticipated to have reversed a decade of poverty reduction [104] - Continued macro stability and successful implementation of structural reforms are critical for growth and poverty reduction [111]

MALDIVES DEVELOPMENT UPDATE Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized April 2025 Public Disclosure Authorized M a l d i v e s D e v e l o p m e n t U p d a t e © [2025] International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expresse ...

Investment Rating - The report does not provide a specific investment rating for the childcare industry Core Insights - Quality childcare is essential for ensuring children's safety, promoting holistic development, and encouraging parental uptake of services [5][12] - The quality of childcare services significantly impacts families' choices and economic activities [5][12] - A robust quality assurance system is necessary, including feasible standards, regular monitoring, and effective data use [5][61] Summary by Sections I. Introduction: Importance of Quality Childcare - Quality childcare is crucial for child safety and development, influencing parental decisions to utilize services [7][12] II. Essential Elements of Quality in Childcare Settings - Quality can be achieved through key principles that are adaptable to various contexts, focusing on both structural and process quality [14][15] - Structural quality includes safe physical environments, adequate adult-to-child ratios, and trained practitioners [16][25] - Process quality emphasizes age-appropriate activities, responsive caregiving, and regular parent interactions [20][30] III. Key Considerations When Visiting Childcare Settings - Safety and structural suitability of the environment should be assessed [35] - Basic needs for food, water, hygiene, and sleep must be met [35] - Practitioners should demonstrate warmth and engage in age-appropriate communication [35] - Availability of materials for hands-on learning is essential [35] - Activities should facilitate play, interaction, and movement [35] IV. Essential System Elements for Quality Improvement - Governments should implement robust quality assurance systems, including realistic standards and monitoring processes [56][61] - Sufficient financing is necessary to support quality childcare and reduce family burdens [63][66] - Workforce development is critical, requiring training opportunities and decent working conditions [62][65]

Investment Rating - The report does not explicitly provide an investment rating for the health taxes landscape in India. Core Insights - The consumption of tobacco, alcohol, and sugar-sweetened beverages (SSBs) in India leads to significant public health challenges, with 1.6 million deaths and 49.3 million disability-adjusted life years lost annually. These products are major risk factors for noncommunicable diseases, responsible for 64.9 percent of all deaths in India as of 2019 [13] - Health taxes have been effective globally in reducing consumption and generating revenue while addressing market failures from negative externalities and internalities. India's current indirect tax system poses challenges due to its complexity and inconsistencies [13] - Reforming health taxes requires addressing inconsistencies, improving tax compliance, and introducing new tax structures based on the relative harm of each product [13] Summary by Sections Introduction - The report highlights the significant health and economic burdens associated with the consumption of demerit products in India, emphasizing the need for effective health taxes to mitigate these issues [22][27] Why Health Taxes Matter - Health taxes are justified due to significant market failures associated with demerit products, which lead to detrimental consumption patterns and economic burdens on society [28] - Taxation can correct negative externalities and internalities, enhancing welfare by reducing consumption to socially efficient levels [29][30] Consumption of Unhealthy Products in India - India is the second-largest consumer of tobacco globally, with approximately 267 million tobacco users, accounting for about 19 percent of the world's adult tobacco users [45] - The prevalence of alcohol consumption among adults in India was estimated at 17.1 percent in 2019, with significant gender differences [59] Economic Burden Associated with Unhealthy Products - The economic burden from tobacco-related costs is estimated at US$36.2 billion annually, while alcohol-related costs are around US$31.4 billion [13] Health Taxes in India - The current indirect tax system in India includes a national-level Goods and Services Tax (GST) on tobacco and SSBs, as well as state-level excise duties and VAT on alcohol, which presents challenges due to complexity and inconsistencies [13] - The report suggests increasing specific excise taxes, simplifying the tax structure, and conducting detailed state-level analyses of alcohol taxation [13] Challenges and Opportunities - The report identifies challenges in reforming health taxes in India, including knowledge gaps and the need for policy engagement priorities [6][27]

Investment Rating - The report does not explicitly provide an investment rating for the food cold chain industry in Guatemala Core Insights - The agrifood sector in Guatemala is crucial to the economy, contributing 10.2% to economic activities and employing 32% of the active population, but faces significant challenges including low productivity and food insecurity [19][40] - Investment in infrastructure is among the lowest in Latin America, with Guatemala ranking 97th out of 140 economies in infrastructure competitiveness and 134th in road connectivity [20][46] - The cold chain infrastructure is inadequate, leading to substantial post-harvest losses and food safety hazards, with only 30% of dairy products and 75% of poultry products being part of a cold chain [21][47] - There is a promising potential for cold chain implementation in agrifood value chains, particularly in export markets for peas, green beans, and papayas, with opportunities for energy-efficient technologies [25][26] Summary by Sections Executive Summary - The agrifood sector faces multi-faceted challenges, including access to finance and declining productivity, particularly among smallholders [19] - Cold chain investments are critical for reducing post-harvest losses and improving food quality and safety [21] - Guatemala's cold chain infrastructure is lagging behind its neighbors, with limited access to cooling facilities and unreliable electricity supply [22][24] Deep Dives in Selected Agrifood Value Chains - The dairy value chain is characterized by a high level of informality, with only 5.7% of producers supplying formal industrial plants, leading to quality and safety issues [66] - In the poultry sector, while 75% of storage is managed within cold chambers, 25% remains unregulated, causing significant losses [47] - Export-oriented vegetable value chains have sophisticated cold chain systems, but initial post-harvest stages often lack refrigeration, leading to quality degradation [47] Policy Recommendations for Cold Chain Development - A National Cooling Action Plan (NCAP) should be created to harmonize existing policies and promote energy-efficient cold chains [33] - Associativity among small and medium farmers should be fostered to improve access to cold chain infrastructure [33] - Public-Private Alliances (PPAs) should be developed to enhance clean energy infrastructure and improve access to technology [33] - Long-term financing for climate-smart agriculture and cold chain investments should be supported through existing public programs [33]