PLUS: The exacerbating costs of illegal logging, fishing and wildlife trade per year and more, in this week's newsletter!
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| Progress has been made in reducing extreme poverty over the last quarter century, but for the world's poorest countries, it remains stubbornly high with 31 percent of their people living on less than $1.90 a day. This is why the work of the International Development Association (IDA) is more important than ever. | | | |
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 | | | | Our latest Commodity Markets Outlook is quite grim. Energy and metal commodity prices are expected to continue falling in 2020 following sharp declines in 2019, presenting a challenge for exporters and an opportunity for importers. Learn more in our latest report. | | | |  | | | | Illegal logging, fishing and wildlife trade rob the world of precious natural resources – and ultimately of development benefits and livelihoods. Our latest report has more information on the costs behind these illegal activities, and how to combat them. | | | | |
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| "We sat in a small study room of a low-cost housing apartment, joined by nine other Malaysian women of different races, all of whom lived here as residents. Most of them worked as cleaners and small-scale entrepreneurs to eke out a living for their families. 'We feel we can do better,' one said to the focus group. 'It's hard with the children – we have to make sure they're taken care of while we're at work.' The women nodded in unison. It quickly became obvious that many of them faced the same issue: balancing work and family was challenging, and affordable childcare services were hard to come by. These women are not alone." Achim Schmillen and Mei Ling Tan – October 28 | | | | | |
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| The rapid technological advances can accelerate progress towards achieving the SDGs and the World Bank Group's goals of ending poverty and boosting shared prosperity, but these also bring unprecedented risks that lead to rising inequality, job loss, exclusion, data privacy, bias, security, and loss of societal trust. | | | | | |
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| The global forecast for oil production in 2019 has been repeatedly revised downward over the last year and a half amid weakening demand for oil. Growth in demand is now around 1%, or 1 million barrels per day – the weakest growth rate since 2012, according to the October 2019 Commodity Markets Outlook. Oil prices are projected to average $60/bbl in 2019 and are forecast to weaken to $58/bbl in 2020, $7/bbl lower than the previous forecast. The downward revision reflects the weaker outlook for global growth and therefore for oil demand. Oil consumption growth is expected to increase slightly next year at a level usually associated with global downturns. If economic growth deteriorates further, oil demand could be substantially weaker, says the report. Read More. |
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