Finance & Economics | WPN World People News

A staff team from the International Monetary Fund (IMF) led by Norbert Toé, Mission Chief for Benin, visited Cotonou from September 13 to 27, 2017 to conduct discussions on the 2017 Article IV consultation and the first review under the Extended Credit Facility (ECF) arrangement with the Republic of Benin approved by the IMF Executive Board in April 2017.

Addressing the employment gap in North Lebanon requires a comprehensive approach that targets both the private sector and the workers, according to a new World Bank report entitled “Jobs for North Lebanon – Value Chains, Labor Markets, Skills and Investment Climate in Tripoli and the North”.

Lao PDR’s Ministry of Finance launched a review of its expenditure, as part of its continued reforms towards more efficient use of public resources, on September 27.

The World Bank approved a US$6.3 million grant to support Eastern Caribbean countries to preserve and strengthen resilience of coastal and marine resources, and implement regional policies to stimulate blue growth.

The World Bank Group is supporting Vietnam to make further progress in resolving non-performing loans, strengthening the banking sector to ensure efficient and effective allocation of capital for economic growth and job creation.

New World Bank study, jointly released with the National University of Singapore Business School, and Leuphana University reveals, on September 22, that psychology-based entrepreneur training programs are outperforming traditional business trainings amongst microentrepreneurs in West Africa, translating into increased firm profits by 30% compared to 11% for traditional business training.

United Nations Secretary General António Guterres and World Bank Group President Jim Yong Kim, on September 20, announced plans to accelerate the flow of finance for climate action through a new platform dedicated to identifying and facilitating transformational investments in developing countries.

The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), and the Swiss National Bank have signed a borrowing agreement through which Switzerland will provide up to SDR 500 million (about US$712.4 million) in new loan resources for the PRGT benefitting the IMF’s low-income member countries.

The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), and the National Bank of Belgium have signed a borrowing agreement through which Belgium will provide up to SDR 350 million (about US$498.7 million) in new loan resources for the PRGT benefitting the IMF’s low-income member countries.

Advances in technology and changing trade patterns are affecting opportunities for export-led manufacturing. Smart automation, advanced robotics and 3-D printing are new factors influencing which locations are attractive for production. While these shifts threaten significant disruptions in future employment, particularly for low-skilled workers, they also offer opportunities, according to a new report released by the World Bank Group, on September.