Finance & Economics | WPN World People News

The World Bank’s Board of Executive Directors approved US$5 million for Kiribati’s Fourth Economic Reform Development Policy Operation, which will build on progress made to strengthen public finances and boost inclusive economic growth, on November 22.

On November 10, 2017, the Executive Board of the International Monetary Fund (IMF) discussed a staff paper on “Use of Third-Party Indicators in Fund Reports.”

Malawi’s government has an opportunity to focus on key structural issues critical to sustained economic growth, by building on macroeconomic foundations laid down over the last year, according to the Malawi Economic Monitor (MEM) released on November 22. These include land reform.

Increased exports of footwear, electrical machinery, equipment and auto parts has helped Cambodia’s economy to remain robust, but growth is projected to ease slightly to 6.8 percent in 2017, compared with 7.0 percent in 2016, says a new World Bank report.

An International Monetary Fund (IMF) mission, led by Nadeem Ilahi, visited Sarajevo and Banja Luka during November 7-21, 2017, to discuss recent economic developments and medium-term outlook for the 2017 Article IV consultation, and policies for the first review of the Bosnia and Herzegovina economic program, supported under the IMF’s Extended Fund Facility (EFF).

Nigeria's GDP expanded by 1.4 percent in the third quarter of 2017 (year-on-year), the second quarter of growth after the recession of 2016, reflecting recovery in oil production, good performance in agriculture, and stronger non-oil industry growth due to the easing of foreign exchange constraints. Yet, many fiscal challenges remain at different levels of government, and effort is needed to successfully address those, according to the World Bank’s Nigeria Economic Update, released on November 21.

The Iraqi authorities and the staff of the International Monetary Fund (IMF) continued discussions in Amman from November 17 to 21, 2017 on the third review of Iraq’s 36-month Stand-By Arrangement (SBA). The IMF Executive Board approved the SBA on July 7, 2016, and completed the second review on August 1, 2017.

MEPs have fought for and obtained better support for unemployed youngsters and additional funds to boost key initiatives supporting SMEs and research.

Afghanistan’s economic growth is projected to increase slightly to 2.6 percent in 2017 from 2.2 percent in 2016 as the country’s deteriorating security weighs on the economy, according to the latest Afghanistan Development Update series released by the World Bank, on November 21.