Finance & Economics | WPN World People News

The Government of India, the Government of Uttar Pradesh and the World Bank signed a $40 million loan agreement for the Uttar Pradesh Pro-Poor Tourism Development Project to increase tourism-related benefits for local communities, on December 28.

The second half of this year indicates the slowdown in Mozambique’s economic performance may be taking hold and shifting this once fast-growing economy to a more modest pace of growth, bringing economic growth down to a level barely above that of population growth.

MEPs and Members of the ACP call for sustainable economic development for the benefit of local communities.

At the 34th session of the Joint Parliamentary Assembly (JPA), which brought together African, Caribbean and Pacific (ACP) and European Union (EU) countries, MEPs discussed the negative and short-term effects of mass tourism with Isabelle Durant, Deputy Secretary-General of UNCTAD.

The World Bank approved a $35 million (about FCFA20 billion) International Development Association (IDA) credit to support the country’s investments in the energy sector, on December 20.

An International Monetary Fund (IMF) staff team led by Amine Mati visited Nigeria during December 6-20, 2017 to conduct the 2018 Article IV consultation.

On November 17, 2017, the Executive Board of the International Monetary Fund (IMF) discussed the Financial System Stability Assessment (FSSA) of India.

On December 20, Bread for the World expressed disappointment over passage of the Tax Cuts and Jobs Act of 2017.

“This tax bill is part of a 1-2 punch,” said Rev. David Beckmann, president of Bread for the World. “President Trump and congressional leaders have already announced plans to follow this tax cut, mainly for high-income people, with a big push to cut more than $2 trillion from social programs for low-and middle-income people.”

On December 21, 2017, the Executive Board of the International Monetary Fund (IMF) completed the first review of Gabon’s economic program supported by the three-year extended arrangement under the Extended Fund Facility.

An International Monetary Fund (IMF) team led by Fabian Valencia visited the Bahamas from December 12 to 18, 2017, to review latest economic developments and lay the groundwork for the 2018 Article IV consultation (expected to take place in March 2018).

Rapid urbanization in Phnom Penh in the past decade has created jobs and reduced poverty, improved urban planning, management, and infrastructure are needed to avoid further sprawl, congestion and pollution, says a new World Bank report.