Finance & Economics | WPN World People News

The World Bank Board of Directors, on June 7, approved a $12 million financial package to further strengthen Maldives’ public sector financial management systems. Building on the existing Public Financial Management Systems Strengthening Project, the additional financing will help improve planning and budgeting, debt and cash management, financial reporting, procurement, and State‐Owned Enterprise monitoring and oversight.

On June 4, 2018 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Romania.

Romania recorded strong economic growth in 2017, with record low unemployment and an improving financial sector. Private consumption boosted by fiscal stimulus and wage increases led the strong growth, while investment lagged and structural reforms slowed. Public investment fell to a multi-year low in percent of GDP with a low absorption of EU funds.

EU citizens will have access to a 5G network by 2020 and see the costs of their international calls capped, thanks to a provisional deal reached on Tuesday night.

The European Securities and Markets Authority (ESMA) has issued the latest iteration of its Risk Dashboard, on June 6, covering risks in the EU’s securities markets for 1Q2018. ESMA’s overall risk assessment remains unchanged from 4Q17 at high levels.

The World Bank and the Government of the Republic of the Marshall Islands this week launched two climate change related projects that will increase investments in renewable energy, promote energy efficiency, and enhance the country’s resilience to the impacts of climate change.

The U.S. economy is experiencing one of the longest expansions on record, but the scars left by the Great Recession, as well as challenges posed by globalization and automation shocks, remain visible across the country, according to a new report from the OECD.

An International Monetary Fund (IMF) mission, led by Stephanie Eble, visited Pristina during May 30-June 5, to discuss recent economic developments and Kosovo’s economic outlook.

An investment-led economic expansion has kept Indonesia’s economy growing at a solid pace, reaching 5.1 percent in the first quarter of 2018, according to the World Bank’s June 2018 Indonesia Economic Quarterly released here, on June 6.

The World Bank Board of Executive Directors, on June 5, approved a $450 million program to arrest the country’s depleting groundwater levels and strengthen groundwater institutions.