Instead of providing detailed comments on each paper, I'd like to draw out the relationships among them and, in the process, comment a little on the papers and their implications. To foreshadow: I will be highlighting the role of leverage – in the household sector and in financial intermediaries – as a critical factor in understanding the buildup of excesses and their unwinding.
We agree that the WBG, in collaboration with other relevant multilateral institutions, must promptly address food insecurity in Africa, Central Asia, and the remaining least developed economies. This should include actions to increase food supply and avoid export restrictions, also through the support to regional integration and transportation infrastructure. Creating jobs and helping the private sector develop are necessary complementary objectives.