The authors describe the recent turmoil in global food markets and the resulting “worst food crisis in generations.” The war in Ukraine has had a major impact on markets in Russia and Ukraine, which together previously produced a quarter of the wheat and most of the sunflower oil sold worldwide. Meanwhile, increases in
Tag: Russia
MICROCAPITAL BRIEF: EBRD Moves to Block Russia, Belarus from Funding, Technical Assistance; Boost Financing in Ukraine
In response to hostilities in Ukraine, the Board of Directors of the European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development finance institution, recently proposed to the institution’s Board of Governors that it cut off assistance to Russia and Belarus, both of which are EBRD members. EBRD has outstanding investments of about EUR 900 million (USD 980 million) in each country as of January 2022. EBRD also is considering participating in
MICROFINANCE WRAP-UP: “Resilience: COVID-19 Crisis Through A Migration Lens;” Published by Global Knowledge Partnership on Migration and Development (KNOMAD)
This brief provides an overview of recent trends in migration and remittances globally. Overall, remittances to low- and middle-income countries (LMICs) remained relatively stable through the onset of the COVID-19 pandemic, decreasing from USD 548 billion in 2019 to USD 540 billion in 2020. Many countries used “counter-cyclical fiscal policy” to stimulate their economies, which