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Many of the world’s poorest countries have been struggling as of late in terms of growth. This is due largely in part to a strong dollar, which makes it harder for other countries to pay back the U.S. “Many impoverished country governments are being hit by the fall in prices for the commodities they export, and large depreciations of currencies against the dollar,” said Tim Jones, economist at the Jubilee Debt Campaign. This means many of the countries who rely on exporting world commodities are being hurt in multiple ways recently. This is because both the strong dollar and the dropping prices of these commodities are driving their development budgets into the ground. An example of this is in Sierra Leone, where the price of iron ore dipping as well as the Ebola breakout have hampered the country’s ability to develop. The World Bank will be dealing with an increase in loan requests due to the fall of commodity prices as well.

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Nigeria needs money. Specifically, it needs $3.5 billion worth of cash flows for their $15 billion government driven deficit. The recent global oil glut has left Africa, and especially Nigeria, competing for oil contracts in Asian markets. Other countries, like Kenya, are facing similar untimely crises as the decade-long commodity boom is coming to an end. Before, growth in Africa relied upon the abundance of land, which left no necessity for advanced infrastructure or substantial growth in other sectors. Dependence on uncontrollable factors, it seems, has left Africa’s largest and most advanced economies in the early stages of economic stagnation.

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Africa’s largest economy, Nigeria, is seeking loans from the World Bank and African Development Bank (ADB) to help fund its forecasted budget deficit. Historically, Nigeria’s budget has been financed primarily with oil revenues, but the recent plummet in oil prices has slashed the amount of funding produced by this sector. Nigeria is not alone in this situation, as other nations such as Azerbaijan, Venezuela, Algeria, and Iraq are also in dire economic straights due to an overreliance on oil production.

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From the free silver policy issue of the 1800s to the Bretton Woods agreement of 1944, America has always had differing views on how the dollar should be valued and leveraged, as well its role in the global currency exchange. Ever since the eve of World War II, the U.S. dollar has had notable domination in the international marketplace. In nearly all transactions made using more than one currency in the past three years, the dollar was required as a conversion factor to complete trades. The U.S. dollar, for quite some time now, has been the world’s reserve currency. In Currencies After the Crash, Sara Eisen explores the impact of the world’s strongest currencies, the possible ramifications of highly leveraged monies, and the perilous yet profitable realm that is the foreign exchange market.

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In recent years, immigration has been a topic that has been widely discussed globally, from the U.S. to the EU to the International Monetary Fund and the World Bank.  There are other aspects of immigration that are often not considered that tend to slip through the cracks of the political quagmire, and those aspects can influence the global economy and can be far-reaching.  One such aspect is remittance, which is the transfer of money from a worker in a foreign country back to individuals back in their home country, typically family members and friends.

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The global economy had its projections cut by the World Bank, saying that the United States will not be able to hold up the global economy alone.  The global economy is now projected to grow 3.0% this year, rather than the 3.5% that was formerly projected. However, the United States had its projection increased from 3.0% growth to 3.2% growth. The World Bank cited Europe, Japan, Russia, and parts of Latin America as the source of the struggles leading to the lower projections. While oil prices are low, developing economies who import oil will receive a boost. However, oil exporters will continue to struggle, especially Russia, due to the low price of oil.

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According to a draft of a communique that the International Monetary Fund (IMF) and World Bank Development Committee plan to release on October 11, finance and development officials are warning of major current downside risks to the global economy. The major risks that are cited include potential deflation in Europe, Japanese recession, and a slowing Chinese economy.

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The World Bank's Development Data Group and the IFC have recently released the new Global Consumption Database, which now stands as the most comprehensive dataset on consumer spending patterns in developing countries. The database's sources include government surveys of more than one million households in 92 countries, and provides thorough information on 4.5 billion potential consumers for global companies. The initiative is aimed at assisting international firms in discovering new sources of demand, as well as providing market research to evaluate business opportunities in emerging markets.

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Forecasts from the World Bank show that the global economy should experience more growth in 2014 than what was expected seven months ago, showing that the world’s economy is finally turning a corner from the recession of recent years. According to a report released on January 14th, the world’s economy should grow by 3.2%, up from the 3% projection made in June. This is good news to many investors and business people around the world, since it is the first time in three years that the World Bank has revised their forecast and predicted improvement.

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With underdevelopment and currency volatility in the emerging markets, the biggest players have set out to fix those problems. The BRICS leaders met in late March in South Africa to plan out objectives for a new bank that would help fund infrastructure expansion, which is set to reach $4.5 trillion in the next five years. Talks also included discussing pooling foreign currency reserves to resolve currency volatility.

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Following a summit in New Delhi on March 29, 2012, the BRICS countries (Brazil, Russia, India, China, and South Africa) announced the proposal for a shared development bank.  The idea is that this BRICS bank would provide an alternative to the U.S.-dominated World Bank and even have the ability to protect the developing world from financial problems originating in wealthier nations.  Only a day after the summit in New Delhi, president of the World Bank Robert Zoellick said that the World Bank is interested in partnering with the BRICS bank and would be willing to share knowledge regarding global operations with the new bank.

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Got the entrepreneurial spirit or prefer working for a small business? After comparing 181 economies across the globe, the collective knowledge of 6,700 business experts and government officials suggests that Singapore, New Zealand, and United States have the friendliest business climate for startups and small companies (based on a recent World Bank survey).