Finance & Economics | WPN World People News

On December 18, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Morocco.

The prompt response of the Moroccan authorities has helped contain the fallout from the pandemic. Nonetheless, economic activity has slowed sharply in the first half of 2020 on account of the combined effect of the health crisis and the drought (that affected agricultural production).

On December 18, 2020, the Executive Board of the International Monetary Fund (IMF) concluded the 2020 discussions on common euro area policies with member countries.

The Government of India and the World Bank signed a $500 million project to build safe and green national highway corridors in the states of Rajasthan, Himachal Pradesh, Uttar Pradesh and Andhra Pradesh on December 22. The project will also enhance the capacity of the Ministry of Road Transport and Highways (MoRTH) in mainstreaming safety and green technologies.

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Brazil.

COVID-19 has upended lives and livelihoods in Brazil, as it has in most countries around the world. Over 5.5 million Brazilians have been infected and more than 160 thousand have died from the disease. Economic activity contracted by 7 percent in the first half of 2020, the unemployment rate rose to 14.4 percent in September, and 11 million workers left the labor force.

Governments should continue providing support to the philanthropic sector while taking steps to safeguard tax systems and ensure that the activities of philanthropic organisations continue to align with the public interest, according to a new report from the OECD.

The Government of India, the Government of Meghalaya and the World Bank signed a $120-million project to improve and modernize the transport sector of Meghalaya, a hill state located in the north east of India, on November 19. This will help Meghalaya to harness its vast growth potential for high-value agriculture and tourism.

The government of Bangladesh signed a $100 million grant financing agreement with the World Bank to scale up access to energy, water, sanitation services and disaster-resilient infrastructures for the Rohingya and the surrounding host communities, on November 18.