The world economy has been in a state of crises since 2008, but the World Bank has said that it is now at a ‘turning point’ and much stronger growth is expected in 2014.

Richer countries will feel the effects of economic growth, more than poorer countries, to begin with. However, there are warnings that the economy is still vulnerable “to the impact of the withdrawal of economic stimulus measures in the US”. The USA has already started to decrease the amount of bonds bought per month by $85bn/£52bn. (A bond is a form of debt. The government has been buying bonds in a sort of IOU loan).

It has been a phenomenal three year since India’s last reported polio case. This is seen as one of India’s greatest health successes as a result of its expansive inoculation programme, with India’s health minister calling it a “monumental milestone”.

Pakistan, Nigeria and Afghanistan are three countries where there is still cases of Polio, but India was removed from the list of polio-endemic countries in 2012. The graph below shows how cases of polio in India have declined since the 1980s:

Tomorrow Bangladesh holds its 5th national election. The main two parties are the Awami League (Leader Sheikh Hasina) and the Bangladesh Nationalist Party (BNP Leader Khaleda Zia). These elections have come under the media spotlight after the BNP and its allies have decided to boycott the election.

Today, 1st January 2014, Latvia joins the Eurozone, becoming the 18th country which uses the Euro as its currency. The small country struggled financially during the economic crises, however it is now one of the fastest growing economies in Europe.

Being a former Soviet republic, Latvia has relied greatly on Russia, but the incorporation of the Euro is expected to reduce this dependency and gain greater financial independence – credit ratings (an estimate of the ability of a country to fulfil their financial commitments, based on previous dealings) should increase and more foreign investors are expected to be attracted. Olli Rehn, the EU Commissioner, said joining the eurozone marked “the completion of Latvia’s journey back to the political and economic heart of our continent, and that is something for all of us to celebrate”.