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Joy Came in the Morning
When Isabella Ennison meets Orlando West, an African-American physician visiting Sierrra Leone, she is immediately struck by his remarkable resemblance to her husband, Yao, and brings the two men together. Yao soon comes to the conclusion that Orlando West must the half-brother given up for adoption many years ago and decides to surprise his unsuspecting mother. The reappearance of her long-lost son shocks Cobola Ennison at first, but the reunion soon becomes a joyful event. However, as she and Orlando start the process of rebuilding a relationship, she knows that she will have to answer the age-old question: why did you give me away? and that to provide an adequate answer, she will have to tell him the story from the beginning.
Nanna
In this sequel to Joy Came in the Morning, Cobola Ennison, now in her mid-seventies, has resigned herself to an uneventful and lonely old age in the village when a family crisis makes it necessary for her to move temporarily to her son's home in the city. The move becomes permanent, and affects her life in unexpected and sometimes dramatic ways.
Macroeconomic Developments and Prospects For Low-Income Countries—2024
The outlook for Low-Income Countries (LICs) is gradually improving, but they face persistent macroeconomic vulnerabilities, including liquidity challenges due to high debt service. There is significant heterogeneity among LICs: the poorest and most fragile countries have faced deep scarring from the pandemic, while those with diversified economies and Frontier Markets are faring better. Achieving inclusive growth and building resilience are essential for LICs to converge with more advanced economies and meet the Sustainable Development Goals (SDGs). Building resilience will also be critical in the context of a more shock-prone world. This requires both decisive domestic actions, including expanding and better targeting Social Safety Nets (SSNs), and substantial external support, including adequate financing, policy advice, capacity development and, where needed, debt relief. The Fund is further stepping up its support through targeted policy advice, capacity building, and financing.
Gender and Business Cycles
This note reviews the literature on the complex relationship between gender and business cycles. It focuses on nuanced patterns that challenge the notion of gender neutrality in economic fluctuations. The note also analyzes dimensions, such as unemployment, income risk, hours worked, and responses to monetary and fiscal policy shocks, and documents distinctive disparities.
Benin
Benin’s strong reform drive and sound macroeconomic management over the past several years have provided policy space to bolster resilience to repeated shocks. The authorities started rebuilding policy buffers last year and recently regained access to the international capital market after a two-year hiatus. Budget support has consistently exceeded expectations. While the country’s reform program—supported by the ECF (2017–20) and the ongoing EFF/ECF (2022–25)—has generated tangible macroeconomic dividends and improved aggregate social outcomes, large disparities have persisted across regions and income groups. A key challenge ahead is how to leverage the initial government’s impetus to pursue the transition to private sector-led growth that benefits all Beninese.
World Economic Outlook, October 2024
The latest World Economic Outlook reports stable but underwhelming global growth, with the balance of risks tilted to the downside. As monetary policy is eased amid continued disinflation, shifting gears is needed to ensure that fiscal policy is on a sustainable path and to rebuild fiscal buffers. Understanding the role of monetary policy in recent global disinflation, and the factors that influence the social acceptability of structural reforms, will be key to promoting stable and more rapid growth in the future.
Key Challenges Faced by Fossil Fuel Exporters During the Energy Transition
The global energy transition is affecting fossil fuel exporters from multiple angles. It is adding to longstanding uncertainties on relative movements of fossil fuel demand and supply—which impact fossil fuel-related exports, fiscal flows, investment and subsequently external and fiscal accounts, economic growth, and employment. While policymakers are very familiar with these challenges, they now also face expectations of a permanent decline in the long-run global demand for fossil fuels. Key factors that could determine country-level impacts include (i) the type of fossil fuel a country exports (ii) extraction costs and (iii) country characteristics. The monitoring and mitigation of fisca...
Green Innovation and Diffusion
Innovation in low-carbon technologies (LCTs), which is essential in the fight against climate change, has slowed in recent years. This Staff Discussion Note shows that a global climate policy strategy can bolster innovation in, and deployment of, LCTs. Countries that expand their climate policy portfolio exhibit higher (1) climate-change-mitigation-patent filings, (2) LCT trade flows, and (3) “green” foreign direct investment flows. Importantly, boosting innovation in, and deployment of, LCTs yields medium-term growth, which mitigates potential costs from climate policies. This note stresses the importance of international policy coordination and cooperation by showcasing evidence of potential climate policy spillovers.
World Economic Outlook, April 2024
The latest World Economic Outlook reports economic activity was surprisingly resilient through the global disinflation of 2022–23, despite significant central bank interest rate hikes to restore price stability. Risks to the global outlook are now broadly balanced compared with last year. Monetary policy should ensure that inflation touches down smoothly, while a renewed focus on fiscal consolidation is needed to rebuild room for budgetary maneuver and to ensure debt sustainability. Structural reforms are crucial to revive medium-term growth prospects amid constrained policy space.
Translating Song
The first textbook guide available to show students how to translate song lyrics Includes a glossary and annotated bibliography to reinforce and aid learning Music videos and audio clips accessible via the translation studies portal provide examples for practice
