The Great Reversal: Prospects, Risks, and Policies in International Development Association (IDA) Countries

The 75 economies eligible for low-interest loans and grants from the World Bank’s International Development Association (IDA) made notable progress against some important development objectives over the first two decades of this century. Despite this, on the eve of the COVID-19 pandemic, significant development gaps persisted, convergence of IDA country incomes with those of advanced economies was slowing, and some vulnerabilities were rising.

The shock of the pandemic and subsequent overlap...