Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - South Sudan's development has regressed since independence, reflecting a significant imbalance between its rich oil resources and persistent institutional capacity and human capital gaps [27] - The economy has collapsed since 2011, with per capita GDP plummeting by 76%, highlighting severe mismanagement of oil wealth and ongoing internal conflicts [28] - The public finance review aims to address how South Sudan can utilize its public resources to reverse its current development trajectory and move towards sustainable development [29] Summary by Sections 1. Introduction - South Sudan remains trapped in a humanitarian and macroeconomic crisis, failing to leverage its natural resources for sustainable development, resulting in extreme poverty [54] - The country has a high dependency on oil, which constitutes 90% of government revenue, yet it has not supported development effectively [54] 2. Macroeconomic Framework - The economy is significantly smaller than at independence due to external shocks and structural deficiencies [70] - Weak governance has undermined fiscal policy, exacerbating macroeconomic instability, while monetary policy has been ineffective due to fiscal dominance [30] 3. Revenue - Oil revenue management is severely compromised by governance failures, with significant challenges in transparency and accountability [34] - Non-oil revenue is among the lowest globally, averaging less than 4% of GDP over the past decade, indicating structural barriers to revenue generation [39] 4. Expenditure - Public spending is high but poorly allocated, failing to improve human development outcomes, with significant funds directed towards administration and defense rather than essential services [41] - Capital expenditure is low and volatile, primarily driven by "oil-for-infrastructure" schemes, leading to inefficiencies and inadequate service delivery [44] 5. Policy Recommendations - The report emphasizes the need for urgent reforms in public financial management to ensure effective and transparent use of public resources [57] - Specific immediate actions are proposed to establish a commitment to reform and secure support from development partners [50]

Investment Rating - The report does not explicitly provide an investment rating for the industry, but it highlights significant concerns regarding the decline of Correspondent Banking Relationships (CBRs) in Pacific Island countries, which may impact investment attractiveness and economic stability in the region [7][40]. Core Insights - The report emphasizes the critical role of CBRs in facilitating cross-border payments, which are essential for trade and remittances in the Pacific Islands. The ongoing withdrawal of these relationships due to de-risking poses a threat to financial inclusion and economic development [8][40]. - De-risking is defined as the withdrawal of banking services in response to anti-money laundering (AML), combating the financing of terrorism (CFT), and proliferation financing (CPF) concerns. This phenomenon has led to a significant decline in the number and quality of CBRs, particularly affecting smaller jurisdictions [11][39]. - The report identifies that the decline in CBRs has adversely impacted export performance and increased remittance costs, with econometric analysis supporting these findings [13][20]. Summary by Sections Background to the Study - The study was initiated following concerns raised at the Pacific Islands Forum Economic Ministers meeting regarding the ongoing withdrawal of CBRs in the region, which is exacerbated by the effects of de-risking [7][9][40]. Introduction and Purpose - The report aims to understand the current state of CBRs in Pacific Island countries, the actions taken to address the issue, and potential solutions to prevent further de-risking [9][10]. De-risking and CBRs - De-risking has led to a significant reduction in CBRs, particularly affecting jurisdictions with limited banking options. The report notes that some countries, like Fiji and the Cook Islands, have experienced more severe losses than others [15][16]. - The report highlights that the profitability and risk/reward considerations are key drivers behind the withdrawal of CBRs, with international banks often finding these services unprofitable [20][72]. Recent Developments - The report discusses various initiatives undertaken by Pacific Island Forum members to strengthen AML/CFT/CPF measures and counter de-risking, including improving local laws and exploring electronic Know Your Customer (eKYC) utilities [27][29]. Recommendations - The report outlines several recommendations to address CBR losses, including the investigation of safe payment corridors, improving national identification systems, and developing a CBR resilience framework [32][34][35].

Investment Rating - The report does not explicitly provide an investment rating for the industry but outlines significant investment needs for recovery and stabilization in Haiti, amounting to approximately US$1.34 billion from 2024 to 2026 [43]. Core Insights - The Rapid Crisis Impact Assessment (RCIA) identifies the urgent need for recovery and stabilization in Haiti following a series of multidimensional crises, particularly focusing on the Port-au-Prince metropolitan area [18][19]. - The assessment emphasizes the importance of aligning recovery efforts with political transition processes to foster long-term stability and development [21][45]. Summary by Sections Executive Summary - The report highlights a critical juncture for Haiti following the Kingston Declaration and the establishment of a transitional government aimed at ending cycles of violence and fragility [18][19]. - The RCIA was launched to assess the impact of the crisis and define a recovery framework and investment plan for fiscal years 2025 and 2026 [19][20]. Methodology - The RCIA employs a rapid assessment methodology, focusing on existing data and stakeholder consultations to identify immediate recovery needs [22][23]. - The assessment prioritizes the most affected areas, particularly the Port-au-Prince metropolitan area, while recognizing the broader implications of the crisis across the country [22][23]. Summary of the Impact Assessment - The 2021–24 crisis has severely impacted economic activity, infrastructure, and essential services in Haiti, with significant losses reported across various sectors [24][25]. - Key findings indicate a decline in economic activity, particularly in the manufacturing and services sectors, with job losses and reduced public sector employment [26][27]. Investment Needs (2024–2026) - The RCIA outlines a need for US$1.34 billion in investments, with allocations for infrastructure, security, social protection, and economic recovery [43][44]. - Provisional investment needs for the medium term (2026–30) are estimated at US$2.3 billion, indicating a long-term commitment to recovery and development [44]. Crisis Recovery Framework - The recovery framework aims to address immediate impacts while promoting long-term reforms to tackle underlying instability [45][46]. - A flexible approach to prioritization and sequencing of interventions is proposed, adapting to evolving security and political conditions [47][48]. Institutional Framework - The report suggests a three-level institutional structure for coordinating recovery efforts, emphasizing the need for effective governance and collaboration among national and international partners [49][50]. - A recovery steering committee and coordination group are proposed to oversee implementation and ensure alignment with recovery objectives [50][51].

Investment Rating - The report emphasizes the importance of human capital investment across various contexts, suggesting a need for a shift in policy focus to enhance human capital accumulation [44]. Core Insights - Human capital, encompassing health, skills, knowledge, and experience, is essential for productivity and economic growth. However, the accumulation of human capital has stagnated or even reversed in many low- and middle-income countries over the past fifteen years [44]. - The report advocates for a broader perspective on human capital formation, extending beyond traditional sectors like education and healthcare to include critical contexts such as families, communities, and workplaces [44]. - Understanding the dynamics of human capital accumulation in these contexts can help design more effective policies to improve health, education, and employment outcomes [44]. Summary by Sections Human Capital Accumulation Stagnation - Human capital accumulation is crucial for development, yet it has stagnated in many low- and middle-income countries, with some indicators showing worse performance than two decades ago [15]. - For instance, average adult height, a widely used health indicator, has not improved in several sub-Saharan African countries over the past 25 years [15]. - Learning outcomes have also declined, with children in low-income and lower-middle-income countries performing worse than 15 years ago, particularly in sub-Saharan Africa [15]. Contextual Perspectives on Human Capital Accumulation - The report highlights the need for increased investment in health, education, and on-the-job learning to prevent continued lagging in low-income countries [22]. - Focusing on the mechanisms of human capital outcomes in families, communities, and workplaces can help design more effective policies to create high-paying jobs and reduce poverty [22]. Family Context of Human Capital Accumulation - Family background significantly influences human capital accumulation from birth, with disparities evident in children's vocabulary and math skills based on maternal education levels [23][24]. - For example, children whose mothers have only primary education have vocabulary levels about half that of children whose mothers completed at least lower secondary education [23]. Community Context of Human Capital Accumulation - The community in which children grow up has a significant impact on their human capital development, with children from low-income families in affluent communities achieving better educational outcomes [29]. - Local service quality, environmental conditions, and community characteristics play crucial roles in shaping human capital accumulation [29]. Workplace Context of Human Capital Accumulation - The workplace is increasingly recognized as a site for human capital accumulation, yet opportunities for skill development are limited in low- and middle-income countries [34]. - Many workers are employed in low-skill jobs with minimal training opportunities, leading to lower income growth compared to salaried employees [34]. Policy Recommendations - The report suggests that policies should focus on enhancing family care, improving community service quality, and creating more skill-building job opportunities [40]. - Specific recommendations include providing resources and incentives to improve service quality in struggling communities and promoting on-the-job training and apprenticeships [40].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The Human Capital Index (HCI) measures the expected human capital a child born today can attain by age 18, highlighting the importance of health and education investments for future productivity [11][21] - The revised Human Capital Index Plus (HCI+) extends the HCI by incorporating human capital accumulation through higher education and on-the-job learning, recognizing that human capital development continues beyond formal schooling [14][39] - The HCI+ is designed to be more responsive to current policies and outcomes, providing a clearer connection between human capital and potential earnings growth [33][39] Summary by Sections Methodology Overview - The HCI+ captures human capital across three domains: health, education, and on-the-job learning, allowing for a detailed analysis of where improvements are needed [15][39] - The HCI+ defines a unit of human capital based on its impact on potential earnings, where an increase in human capital by one unit corresponds to a 1% increase in earnings potential [16][39] Conceptual Framework - Human capital is defined as the health, skills, knowledge, and experience accumulated over a lifetime, with investments in these areas yielding long-term economic returns [20][30] - The HCI+ focuses on expected future human capital rather than the current workforce, emphasizing the need for ongoing investments in education and health [21][30] Mathematical Expression - The HCI+ is mathematically expressed to reflect the average human capital a newborn can expect over their working life, incorporating survival probabilities and expected earnings potential [36][39] - The index is additively decomposable across its components, facilitating analysis and policy engagement [39][43] Economic Growth Connection - A 1% increase in the HCI+ value is associated with a 1% increase in average earnings potential, which can lead to a proportional increase in future GDP per capita [56][57]

Investment Rating - The report does not explicitly provide an investment rating for the agricultural sector in West Africa, but it highlights significant productivity growth in Ghana and Senegal, suggesting potential investment opportunities in these countries. Core Insights - The agricultural sector in West and Central Africa has shown an average growth of 4.2% per annum from 2001 to 2023, primarily driven by land expansion rather than productivity improvements. However, Ghana and Senegal have achieved notable productivity growth through various policy measures and investments [2][7][10]. - Ghana and Senegal have more than doubled crop output per hectare and increased agricultural total factor productivity (TFP) by at least 40% over the same period, distinguishing them from other countries in the region [10][49]. - Key factors contributing to the agricultural productivity growth in Ghana and Senegal include investments in rural infrastructure, agricultural research, and access to financial services, which have facilitated the adoption of improved agricultural practices and technologies [10][59][62]. Summary by Sections Introduction - The report discusses the reliance of Sub-Saharan Africa on land expansion for agricultural output growth, contrasting with global trends towards productivity-led growth. It identifies geographic and policy-related constraints as significant barriers to agricultural development in the region [6][9]. Agricultural Productivity Growth - The average annual crop output per worker in West and Central Africa increased from $926 in 2001-2005 to $1,433 in 2021-2023, while cropland yield rose from $720 per hectare to $860 per hectare during the same period [31][32]. - Ghana and Senegal have significantly outperformed other countries in the region, achieving the highest agricultural labor productivity and crop yields by 2021-2023 [32][50]. Policy Factors Enabling Growth - The report identifies specific policies in Ghana and Senegal that have supported agricultural productivity growth, including the expansion of rural infrastructure, improved access to financial services, and increased investment in agricultural research and development [58][62]. - Both countries have maintained macroeconomic stability, which has encouraged private investment in agriculture and rural development [58][59]. Commodity Value Chains - The growth in agricultural productivity in Ghana and Senegal has been broad-based, affecting various commodities important for both domestic consumption and export markets. The report lists leading commodity value chains and their growth rates from 2001 to 2023 [72].

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - Landslides result in over 4,000 fatalities and approximately US$20 billion in economic losses annually, highlighting the urgent need for improved data and risk management strategies [2][6] - The study proposes a standardized, interoperable framework for landslide data collection and management to enhance hazard prediction and risk modeling [2][11] - The World Bank is positioned to operationalize this standard through its disaster risk reduction programs, aiming to improve global coordination and protect vulnerable communities [2][41] Summary by Sections 1. Current Limitations of Landslide Inventories - Landslides are a significant global threat, particularly in developing regions, with a cumulative death toll exceeding 110,000 since 1900 [6] - Current global landslide databases are fragmented, lacking centralized inventories and comprehensive data, which hampers effective risk assessment and disaster preparedness [6][13] - Many landslides go unreported, especially in remote areas, leading to systematic underreporting and deprioritization in disaster planning [7][13] 2. Global Overview of Landslide Data - Effective hazard management relies on accurate measurement, yet documentation methods vary significantly across regions [12] - Many countries lack comprehensive landslide inventories, resulting in inconsistent data quality and accessibility [13][15] - The absence of standardized reporting and verification exacerbates challenges in data integration and usability for risk assessments [15][16] 3. Case Study: Landslide Susceptibility Mapping in the Hindu Kush Himalaya - The HKH region is highly prone to landslides due to geological and climatic factors, necessitating high-quality data for effective disaster risk management [19] - Innovative machine learning approaches can enhance susceptibility mapping, but data limitations often lead to poor predictive performance [20][21] 4. Required Data Characteristics - Key characteristics for effective landslide data include temporal resolution, spatial accuracy, classification detail, completeness, and reliability [23] - High-quality data is essential for susceptibility modeling and early warning systems, with specific requirements for event timing and location accuracy [24][25] 5. Proposed Data Standard for Landslide Inventories - A three-tiered standard for landslide data collection is proposed, ranging from minimum standards for basic inventories to ideal standards for comprehensive hazard assessments [31][36] - Each tier outlines specific attributes and data management practices to enhance the quality and usability of landslide inventories [31][36] 6. Conclusion - The lack of comprehensive and standardized landslide data is a critical barrier to effective disaster risk reduction, especially as climate change exacerbates risks [41] - The proposed tiered framework aims to improve global knowledge of landslide hazards and facilitate better data management practices [42][43]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The integration of digital identity (ID) and fast payment systems (FPS) is essential for building modern, inclusive digital economies, addressing challenges related to fraud prevention, customer onboarding, and authentication [18][19][26] - The proposed model includes the Trusted Access and Credentialing Hub (TACH) and the Payment Identity Credential (PIC), which aim to enhance interoperability between digital ID and FPS [19][20][40] - Verifiable credentials (VCs) are central to this integration, providing a standardized, tamper-proof way to carry identity and entitlement information into payment processes [24][68] Summary by Sections Executive Summary - Digital public infrastructure consists of three pillars: digital ID, FPS, and trusted data exchange, which together enable secure participation and innovation [18] - The report emphasizes the need for an integrated system to reduce frictions for users and providers [19] Setting the Context - The World Bank has developed a toolkit to guide countries in implementing FPS, highlighting the importance of digital ID in these systems [33][34] FPS: Relevance and Challenges - FPS enable real-time payment transactions and are crucial for financial inclusion, but they face challenges such as access to transaction accounts and fraud risks [48][50] - Approximately 100 countries are developing or have developed FPS, which differ from card networks by allowing instant settlement and supporting multiple use cases [48][49] Verifiable Credentials as Catalysts for FPS and Digital ID Interoperability - VCs can streamline processes like KYC and onboarding by allowing users to present verified credentials without repeated checks [66][67] - The use of VCs can enhance security and user experience by embedding trusted identity into payment messages [68][69] Key Enablers of Verifiable Credentials - Digital wallets and trust frameworks are essential for the effective implementation of VCs, enabling users to hold and present their credentials securely [16][17] Creating a Foundational Model for Interoperability - The TACH and PIC model is designed to integrate with existing FPS without disrupting current infrastructures, allowing for incremental adoption [21][23] Use Cases for TACH and PIC - Various use cases are explored, including KYC credential issuance, confirmation of payee, and eligibility verification, demonstrating the practical benefits of the proposed model [24][42] Key User Experience Considerations - The report outlines user experience features enabled by the PIC, emphasizing the importance of seamless interactions across different platforms [31][32] Conclusion - The paper aims to provide a conceptual foundation for policymakers and stakeholders to advance interoperability and build resilient digital payment ecosystems [31][30]

Investment Rating - The report does not explicitly provide an investment rating for the industry discussed. Core Insights - The paper emphasizes the role of taxes and public spending in reducing poverty and inequality, particularly in the context of the fiscal challenges following the COVID-19 pandemic [14][15] - It highlights that while richer countries tend to reduce inequality more effectively through progressive taxation and spending, developing countries can also implement progressive fiscal policies [16][22] - The analysis is based on a global dataset of 96 countries, utilizing the Commitment to Equity (CEQ) framework to assess the distributional impacts of taxes and spending [15][29] Summary by Sections Executive Summary - Taxes and public spending are crucial for government administration and economic growth, impacting poverty and inequality significantly [14] - The report aims to explore how public finance can support long-term growth while promoting equity, especially in the aftermath of high fiscal deficits due to the pandemic [14][15] Introduction: Fiscal Incidence, Data and Methodology - The paper focuses on the impact of fiscal policy on poverty and inequality, utilizing a comprehensive dataset to benchmark fiscal systems across different countries [26][28] - It discusses the CEQ approach, which assesses how taxes and spending affect household welfare and inequality [29][40] Taxes and Spending Reduce Inequality in all Countries to Differing Degrees - The report finds that taxes and spending reduce inequality across all countries, with richer countries achieving greater reductions [69][77] - It notes that while high-income countries reduce the Gini Index by an average of 10 points, low-income countries show minimal direct redistribution [77][78] Tax and Equity - Richer countries collect more tax revenue, primarily through direct taxes, which are more progressive than indirect taxes [17][18] - The report discusses the trade-offs between revenue generation and progressivity in tax systems, emphasizing the importance of well-designed transfer budgets [21][23] Spending and Equity - Higher revenues in wealthier countries finance essential services like education and health, which are critical for reducing inequality [19][20] - Direct transfers are highlighted as highly progressive, while subsidies often disproportionately benefit wealthier households [19][24] Progressive Taxes and Spending for Developing Countries - The report asserts that progressive fiscal policies can be implemented at all income levels, with a focus on the role of VAT and direct transfers [5][43] - It provides recommendations for enhancing the effectiveness of tax and spending policies to achieve equity objectives [22][24]

Investment Rating - The report does not explicitly provide an investment rating for the energy sector in Burundi Core Insights - The Energy Access Diagnostic Report highlights the critical energy access challenges in Burundi, emphasizing the need for significant investment and policy reforms to improve electricity and modern energy cooking services access Access to Electricity - Approximately 26 percent of households in Burundi have access to electricity, with 8 percent connected to the grid and 18 percent relying on off-grid solutions, primarily solar devices [34][37] - Urban households have a significantly higher electricity access rate of 75 percent compared to 22 percent in rural areas, with 68 percent of urban households connected to the grid [35] - The MTF survey indicates a discrepancy in electrification rates, with the MTF reporting 26 percent compared to the 10 percent estimated by the Tracking SDG 7 report, suggesting recent reforms and off-grid solutions may not be fully captured in older estimates [37][39] - The survey also reveals that 20 percent of households achieve Tier 1 access or higher, while only 8 percent reach Tier 3 or higher, indicating that most grid-connected households operate at lower tiers of service [40] Access to Modern Energy Cooking Services - Over 99 percent of households in Burundi use biomass as their primary cooking fuel, with wood being the predominant source [55] - Approximately 91 percent of households are classified in Tier 0 for modern energy cooking services, indicating a lack of access to efficient cooking solutions [56] - Urban households primarily use charcoal for cooking, while rural households predominantly rely on three-stone stoves using collected wood [58] - The report emphasizes the health and gender-related impacts of limited access to modern energy cooking services, highlighting the need for improved cooking solutions to enhance public health and gender equality [57] Gender Analysis - The report includes a gender analysis indicating disparities in access to electricity and modern energy cooking services between male- and female-headed households, with specific barriers identified for women [85][88] Electricity Access Levels Among Education and Health Facilities - The report provides insights into electricity access levels in education and health facilities, indicating significant gaps that need to be addressed to improve service delivery in these critical sectors [93][95]