Donors pledge US$18.9 million to Strengthen Technical Assistance on Anti-Money Laundering and Combating the Financing of Terrorism
International donors renewed their support for the International Monetary Fund’s (IMF) technical assistance in Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT). During a session held in Washington, D.C., they pledged $18.9...
IMF Executive Board Approves New Extended Credit Facility Arrangement for Mali and US$9.2 Million Disbursement
The Executive Board of the International Monetary Fund (IMF) approved a new arrangement under the Extended Credit Facility (ECF) for Mali for an amount equivalent to SDR 30 million (about US$ 46.2 million or 32 percent of quota). The approval enables...
The World Bank Partners with Uruguay to Execute Largest Public Weather and Oil Price Insurance Transaction
The World Bank announced that it has completed a $450 million weather and oil price insurance transaction for Administración Nacional de Usinas y Transmisiones Eléctricas (UTE), the Uruguayan state-owned hydro-electric power company. The transaction...
Burundi: More Fiscal Resilience Will Improve Government Effectiveness
Burundi will need to mobilize more domestic revenues and improve its budget transparency in order to reduce poverty more significantly, boost jobs and opportunity, and cushion itself against economic reversals, according to ‘ Strengthening Fiscal...
Japan Posts Worst November Trade Deficit on Record
Japan posted its worst November trade deficit on record Wednesday, as a weaker yen drove up the cost of imported oil and gas.
Tax revenues continue to rise across the OECD
Tax revenues continue bouncing back from the low levels reported in almost all countries during 2008 and 2009, at the height of the global economic crisis, according to new OECD data in the annual Revenue Statistics publication. The average tax...
An IMF Mission to Albania
A staff team from the International Monetary Fund (IMF) led by Nadeem Ilahi visited Tirana during December 3–17 to hold Article IV consultation discussions and to discuss the authorities’ request for an economic program.
Crackdown on criminals who distribute counterfeit euro notes and coins
Distributors of fake euro or other currencies could face tougher penalties under a draft EU law voted in the Civil Liberties Committee on Tuesday. It would require EU countries to set a maximum penalty of no less than eight years in jail for...
MEPs back plans to boost transparency on firms’ environmental and social impact
Large companies would be obliged to disclose information on their environmental, social and employee-related impact under a draft law on non-financial reporting approved by Legal Affairs Committee on Tuesday.
Draghi allies with MEPs against a bad banking union
The EU member states’ current plans for a common system for winding down troubled banks risk being too complex to work, European Central Bank President Mario Draghi told the Economic and Monetary Affairs Committee on Monday. Parliament’s view of these...
