Finance & Economics | WPN World People News

The Executive Board of the International Monetary Fund (IMF), on June 11, completed the ninth review of Rwanda’s performance under the Policy Support Instrument (PSI).

The World Bank, on June 11, announced US$125 million in additional support for Morocco’s adoption of innovative solar technology, as part of the national goal of developing the country’s world-class solar and wind energy resources to reduce the dependence on fossil fuels and move toward a green energy future. The additional financing, which includes US$25 million from the Clean Technology Fund, will support the development and construction of the Noor-Midelt I and II plants, which will have a total capacity of 600-800 megawatts.

A team from the International Monetary Fund (IMF) visited Gaborone during May 22-June 6, 2018 to hold discussions for the 2018 Article IV Consultation with Botswana. The discussions covered recent developments and prospects and focused on policies to increase economic growth and job creation while preserving monetary and financial stability.

On May 25, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Guatemala.

Underpinned by a solid macroeconomic framework, the economy has endured significant political tensions since 2015. Supporting broad macroeconomic stability, a sound monetary policy management has helped keep inflation expectations firmly anchored. Fiscal deficits have remained at decade lows on the back of low debt tolerance and inadequate budgetary execution, partly a result of anti-corruption efforts.

The World Bank, on June 8, announced new support for 6,000 potential youth and women entrepreneurs, as part of Djibouti’s efforts to promote entrepreneurship as an engine of growth and job creation. With a US$15 million credit from IDA, the World Bank’s fund for the poorest countries, the project will encourage new entrepreneurs with a combination of training and access to finance, the consolidation and expansion of key business services to make them easier to access, and support with identifying and linking entrepreneurs to competitive value chains.

The World Bank (International Bank for Reconstruction and Development, IBRD, Aaa/AAA) is launching an initiative to engage investors on the importance of investing in the health and nutrition of women, children and adolescents to save and improve lives, including by using its Sustainable Development Bonds issuances to highlight these issues and demonstrate how private sector investment can support development financing.

At the request of the newly elected Government of Barbados, an International Monetary Fund (IMF) team led by Bert van Selm visited Bridgetown on June 5-7, to have discussions on economic policies and possible IMF financial support of the government’s economic plan.

The World Bank Group expresses its strong support to Argentina with a new financing package. It will increase its support to the public sector with US$1.75 billion in new commitments over the next twelve months. This financing aims to support development policies which contribute to the sustainable and inclusive growth of the country while protecting the most vulnerable populations. The package will be subject to approval by the World Bank’s Board.

The Argentine authorities and IMF staff have reached an agreement on a 36-month Stand-By Arrangement (SBA) amounting to US$50 billion (equivalent to about SDR 35.379 billion or about 1,110 percent of Argentina’s quota in the IMF).

With an agri-food trade value of €255 billion in 2017, the EU confirms for yet another year its position as largest global exporter and importer of agri-food products.