Kevin Carey
@kevincareywb.bsky.social
World Bank
Macro / Climate
Opinions are mine and not WB
X: Kevin_Carey_WB
Macro / Climate
Opinions are mine and not WB
X: Kevin_Carey_WB
Joint report by Bloomberg NEF, Dubai Financial Services Authority, Hong Kong Monetary Authority on EM sustainable finance instruments in MENA & Asia Pacific. A basic takeaway: labeled debt in the two regions heavily skewed towards USD issuance (link at end of this page): www.dfsa.ae/news/dfsa-an...
November 28, 2025 at 9:37 PM
Joint report by Bloomberg NEF, Dubai Financial Services Authority, Hong Kong Monetary Authority on EM sustainable finance instruments in MENA & Asia Pacific. A basic takeaway: labeled debt in the two regions heavily skewed towards USD issuance (link at end of this page): www.dfsa.ae/news/dfsa-an...
Tunisia / WB Economic Update with special topic of non-contributory social assistance program. Key elements of macro storyline: role of the "offshore" mechanical & electrical industry in sustaining the current account + increased reliance on domestic debt.
www.worldbank.org/en/news/pres...
www.worldbank.org/en/news/pres...
November 26, 2025 at 3:02 PM
Tunisia / WB Economic Update with special topic of non-contributory social assistance program. Key elements of macro storyline: role of the "offshore" mechanical & electrical industry in sustaining the current account + increased reliance on domestic debt.
www.worldbank.org/en/news/pres...
www.worldbank.org/en/news/pres...
Albania / WB Public Finance Review. Report uses the Total Carbon Price approach -- the combined effects of all taxes on the implicit price of carbon. Big finding is differentially low tax on coal compared to other fossil fuels. www.worldbank.org/en/country/a...
November 21, 2025 at 1:45 PM
Albania / WB Public Finance Review. Report uses the Total Carbon Price approach -- the combined effects of all taxes on the implicit price of carbon. Big finding is differentially low tax on coal compared to other fossil fuels. www.worldbank.org/en/country/a...
Jordan / prospectus for the new 2032 Eurobond. I was reading this section below for an update on the status of the government's dispute with the Attarat oil shale project consortium and the lack of mention of such a dispute led me to ... www.rns-pdf.londonstockexchange.com/rns/4156I_1-...
November 20, 2025 at 4:03 PM
Jordan / prospectus for the new 2032 Eurobond. I was reading this section below for an update on the status of the government's dispute with the Attarat oil shale project consortium and the lack of mention of such a dispute led me to ... www.rns-pdf.londonstockexchange.com/rns/4156I_1-...
Brilliant chart from paper being presented at IMF 13th Statistical Forum by Robert Zymek (IMF Research Department), "Bilateral Trade in Services: Insights from a New Database," showing how the trade networks differ between goods and services according to the new data. www.imf.org/en/news/semi...
November 19, 2025 at 9:01 PM
Brilliant chart from paper being presented at IMF 13th Statistical Forum by Robert Zymek (IMF Research Department), "Bilateral Trade in Services: Insights from a New Database," showing how the trade networks differ between goods and services according to the new data. www.imf.org/en/news/semi...
When the Friday news dump is lowered tariffs on vanilla, herbs and spices ... www.whitehouse.gov/wp-content/u...
November 14, 2025 at 10:17 PM
When the Friday news dump is lowered tariffs on vanilla, herbs and spices ... www.whitehouse.gov/wp-content/u...
Impressive economics job market paper from Hannah Rhodenhiser (Boston Univ): what would happen if a Payment for Ecosystem Services (PES) program was taken to macro scale? Multiple general equilibrium effects, related to price impacts and duration of gains ...
November 14, 2025 at 5:31 PM
Impressive economics job market paper from Hannah Rhodenhiser (Boston Univ): what would happen if a Payment for Ecosystem Services (PES) program was taken to macro scale? Multiple general equilibrium effects, related to price impacts and duration of gains ...
In light of the focus on gold purchases by central banks, important window to developments from the World Bank Treasury Reserve Management Survey Report 2025; survey response picks up reported increase in #gold holdings, but ...
November 13, 2025 at 7:27 PM
In light of the focus on gold purchases by central banks, important window to developments from the World Bank Treasury Reserve Management Survey Report 2025; survey response picks up reported increase in #gold holdings, but ...
NBER International Trade & Investment Program meeting November 21-22. Paper on the 22nd (Saturday) Unbalanced Financial Globalization by Damien Capelle (IMF) & Bruno Pellegrino (Columbia). Calculates de facto capital account openness, showing asymmetry in trend of openness ...
November 13, 2025 at 7:08 PM
NBER International Trade & Investment Program meeting November 21-22. Paper on the 22nd (Saturday) Unbalanced Financial Globalization by Damien Capelle (IMF) & Bruno Pellegrino (Columbia). Calculates de facto capital account openness, showing asymmetry in trend of openness ...
Policymakers (& advice providers like the WB!) wrestle with the persistence of fuel subsidies & political constraint of fuel subsidy reform. Hence relevance of #EconJobMarket #JMP by Johanna Rayl (Northwestern, joint with Budy Resosudarmo, ANU); models choice between targeted ...
November 12, 2025 at 1:36 PM
Policymakers (& advice providers like the WB!) wrestle with the persistence of fuel subsidies & political constraint of fuel subsidy reform. Hence relevance of #EconJobMarket #JMP by Johanna Rayl (Northwestern, joint with Budy Resosudarmo, ANU); models choice between targeted ...
With #COP30 focused on adaptation (& associated risk of maladaptation), extra timely #EconJobMarket #JMP from
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
November 11, 2025 at 8:27 PM
With #COP30 focused on adaptation (& associated risk of maladaptation), extra timely #EconJobMarket #JMP from
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
Nikhil Basavappa (Columbia Univ, paper w/ Ricardo Pommer Muñoz) on interaction of irrigation subsidies with externalities in India. Intuition: "efficient irrigation makes groundwater ..."
Georgia / WB Country Climate & Development Report. One of several CCDRs using impressive jobs network / node analytics to explicate current & prospective job market along key characteristics. Job market currently highly segmented and not very digital or green. documents.worldbank.org/en/publicati...
November 11, 2025 at 7:47 PM
Georgia / WB Country Climate & Development Report. One of several CCDRs using impressive jobs network / node analytics to explicate current & prospective job market along key characteristics. Job market currently highly segmented and not very digital or green. documents.worldbank.org/en/publicati...
WB Policy Research Working Paper on poor financial performance of electric utilities in Africa by Govinda Timilsina. Relevant for the overall debt struggles of these countries. High number of countries where utility's cost to revenue ratio far exceeds 1. documents.worldbank.org/en/publicati...
November 10, 2025 at 9:19 PM
WB Policy Research Working Paper on poor financial performance of electric utilities in Africa by Govinda Timilsina. Relevant for the overall debt struggles of these countries. High number of countries where utility's cost to revenue ratio far exceeds 1. documents.worldbank.org/en/publicati...
Suriname / $1.6bn bond issuance offering document. The Use of Proceeds statement is convoluted (it's usually two sentences about "general budgetary purposes") -- the feature here being establishment of a Debt Service Prefunding Account.
www.luxse.com/pdf-viewer/1...
www.luxse.com/pdf-viewer/1...
November 7, 2025 at 10:48 PM
Suriname / $1.6bn bond issuance offering document. The Use of Proceeds statement is convoluted (it's usually two sentences about "general budgetary purposes") -- the feature here being establishment of a Debt Service Prefunding Account.
www.luxse.com/pdf-viewer/1...
www.luxse.com/pdf-viewer/1...
TFW your White House visit needs to be preceded by having one's noms de guerre removed from the US Treasury sanctions list since now you're President of Syria ... ofac.treasury.gov/recent-actio...
November 7, 2025 at 10:09 PM
TFW your White House visit needs to be preceded by having one's noms de guerre removed from the US Treasury sanctions list since now you're President of Syria ... ofac.treasury.gov/recent-actio...
IMF 2025 Mundell-Fleming Lecture by Ricardo Reis. Takeaway: Financial repression has come back, including in advanced economies, but should not be viewed as persistent or scalable. www.youtube.com/watch?v=iS7o...
November 7, 2025 at 7:52 PM
IMF 2025 Mundell-Fleming Lecture by Ricardo Reis. Takeaway: Financial repression has come back, including in advanced economies, but should not be viewed as persistent or scalable. www.youtube.com/watch?v=iS7o...
World Bank / Country Climate and Development Reports Summary (covering 93 economies) for #COP30 #Belem. Complex situation for low income countries: large impacts from climate damage, large relative gains from adaptation -- but also large unavoidable losses. documents.worldbank.org/en/publicati...
November 7, 2025 at 3:04 PM
World Bank / Country Climate and Development Reports Summary (covering 93 economies) for #COP30 #Belem. Complex situation for low income countries: large impacts from climate damage, large relative gains from adaptation -- but also large unavoidable losses. documents.worldbank.org/en/publicati...
Nigeria / WB report on the economic and fiscal impacts of flooding. For GDP impacts, an important point relates not so much to size of the effect, but its persistence -- potential GDP impacts from a single event stretch over a decade. documents.worldbank.org/en/publicati...
November 7, 2025 at 2:26 PM
Nigeria / WB report on the economic and fiscal impacts of flooding. For GDP impacts, an important point relates not so much to size of the effect, but its persistence -- potential GDP impacts from a single event stretch over a decade. documents.worldbank.org/en/publicati...
Ukraine / unsuccessful conclusion of negotiations with the holders of the distressed GDP warrants. Screenshot is final proposal of the warrant holders. (via regulatory announcement to Irish Stock Exchange).
November 6, 2025 at 8:21 PM
Ukraine / unsuccessful conclusion of negotiations with the holders of the distressed GDP warrants. Screenshot is final proposal of the warrant holders. (via regulatory announcement to Irish Stock Exchange).
Fiji / World Bank Country Economic Memorandum. A context where the interpretation of "shocks" requires a sense of frequency and scale ... www.worldbank.org/en/country/p...
November 6, 2025 at 3:26 PM
Fiji / World Bank Country Economic Memorandum. A context where the interpretation of "shocks" requires a sense of frequency and scale ... www.worldbank.org/en/country/p...
That offering circular has some interesting paragraphs ...
November 6, 2025 at 1:22 PM
That offering circular has some interesting paragraphs ...
IMF Jacques Polak Annual Research Conference (starting on Thursday!), paper "Decoupling Dollar & Treasury Privilege" being presented on Friday by Wenxin Du (Harvard) showing that convenience yield (an implied tolerance for a lower risk-free return) on USD assets is diverging ...
November 6, 2025 at 1:28 AM
IMF Jacques Polak Annual Research Conference (starting on Thursday!), paper "Decoupling Dollar & Treasury Privilege" being presented on Friday by Wenxin Du (Harvard) showing that convenience yield (an implied tolerance for a lower risk-free return) on USD assets is diverging ...
Congo Rep. $670 million Eurobond with 9.875% coupon. www.finances.gouv.cg/sites/defaul...
November 5, 2025 at 5:57 PM
Congo Rep. $670 million Eurobond with 9.875% coupon. www.finances.gouv.cg/sites/defaul...
Nigeria / new Eurobond prospectus. Useful compendium of information on wide range of macro and sectoral issues, including external and domestic debt. www.rns-pdf.londonstockexchange.com/rns/2096G_1-...
November 5, 2025 at 1:49 PM
Nigeria / new Eurobond prospectus. Useful compendium of information on wide range of macro and sectoral issues, including external and domestic debt. www.rns-pdf.londonstockexchange.com/rns/2096G_1-...
Jordan / tender offer for the$1 billion 2026 Eurobond with new notes being offered in parallel (via regulatory announcement to Irish Stock Exchange).
November 3, 2025 at 12:22 PM
Jordan / tender offer for the$1 billion 2026 Eurobond with new notes being offered in parallel (via regulatory announcement to Irish Stock Exchange).