Cities in the developing world are growing rapidly, both in number and size. While urbanization is known to spur economic growth, the migration of people from rural to urban areas can be associated with rising inequalities – both across urban and rural areas and within cities, especially in developing countries. Within this context, coupled with fiscal constraints, evolving global trade relations, extreme climate events, and technology disruption trends, national policymakers and city leaders are grappling with challenges in the delivery and financing of services, such as transport, water, waste management, and housing. How can countries harness the power of urbanization and cities for inclusive economic growth to improve the quality of life for all residents? This event will bring together leading policymakers, practitioners, and private sector thought leaders for a moderated discussion of how to make the urbanization process more inclusive, resilient, and sustainable both across and within cities in a changing global environment. To Learn More: Publication: September 2018 Indonesia Economic ...
The event builds on the forthcoming Africa’s Pulse report’s special theme: The role of human capital in boosting productivity. A highly skilled, healthy labor force plays an important role in driving economic growth. It facilitates the adoption of rapidly changing technologies and enhances the ability to develop new technologies. How can Africa capitalize on its human capital to ramp up productivity and close large and persistent gaps in income per capita relative to advanced countries?
Impact investing has emerged as a significant opportunity to mobilize both public and private capital into investments that target measurable positive social, economic or environmental impact alongside financial returns. Despite the increased interest in and number of product launches claiming to be impact investments, there is no common discipline for how to manage investments for impact and the systems needed to support this. This has created complexity and confusion for investors, as well as a lack of clear distinction between impact investing and other forms of responsible investing. To address this challenge, the International Finance Corporation (IFC), in consultation with a core group of external stakeholders—impact asset managers, asset owners, asset allocators, and development banks and financial institutions— has drafted “Investing for Impact: Operating Principles for Impact Management.” The Consultation Draft of the Principles was launched in Bali on October 12, 2018, during a high-level panel that brought together a core group of asset managers, asset owners, and policy makers who ...
World Bank Group President Jim Yong Kim and Managing Director of the International Monetary Fund Christine Lagarde speak at the October 12th plenary session of the Annual Meetings in Bali, Indonesia.
Rapid advances in financial technology – fintech – are transforming the global economic and financial landscape. Fintech can support growth and poverty reduction by strengthening financial development, inclusion and efficiency, but may also pose risk to financial stability and integrity as well asconsumer and investor protection. In response to calls from member countries, the IMF and World Bank Group have developed the “Bali Fintech Agenda” as a blueprint for policymakers and the international community. Christine Lagarde, managing director of the IMF, and Jim Yong Kim, president of the World Bank Group, presented the Agenda in a panel discussion, where they were joined by Sri Mulyani Indrawati, minister of finance of Indonesia and chair of the Development Committee, Lesetja Kganyago, governor of the South African Reserve Bank and chair of the IMFC, and Mark Carney, governor of the Bank of England and chair of the Financial Stability Board. President of Indonesia Joko Widodo (Jokowi) delivered the opening remarks. Reflecting on the origins of ...
