Finance & Economics | WPN World People News

The Executive Board of the International Monetary Fund (IMF) on August 30th, completed the seventh review of Serbia’s economic performance under the Stand-By Arrangement (SBA). The completion of the review will make available an additional SDR 54.565 million (€64.9 million) available to Serbia under the SBA, bringing the total funds available to SDR 771.705 million (€918.5 million). The Serbian authorities have indicated that they do not intend to draw on the resources available under the arrangement.

The government of Fiji and the World Bank Group on August 30th, signed an agreement that will support deepened cooperation through a larger, more established presence in Suva, which will act as a hub for the development bank’s operations across the South Pacific.

New Energy Minister Richard Harrington has told oil and gas leaders they have the ‘full support’ of the UK government in maximising the economic opportunity in the North Sea during his first visit to the region in his new ministerial post.

An International Monetary Fund (IMF) staff team, led by Corinne Deléchat, visited Yaoundé during August 22–29, 2017 to review recent economic developments and discuss the 2018 budget and medium-term budget framework.

The Ministry of Finance and the World Bank on August 30th, signed an agreement for $30 million in financing for the Lao PDR Southeast Asia Disaster Risk Management Project, which will invest in urban flood risk management in Oudomxay province, and in more reliable hydro-meteorological services across the country.

An IMF team led by Mohammed El Qorchi visited Doha from August 13-20 to take stock of recent economic developments since December 2016.

The government of Bangladesh on August 29th, signed an agreement with the World Bank to use digital technology to monitor the country’s annual development programs and improve the performance of public procurement.

The International Monetary Fund (IMF) and the Government of Malawi co-sponsored a high-level international stakeholders conference in Lilongwe on August 28–30, 2017. The conference aimed at taking stock of the objectives and performance under the recently completed Extended Credit Facility (ECF), and the lessons for future engagement with the IMF.

The World Bank Group and the Government of Turkey have renewed their partnership with the introduction of a new Country Partnership Framework (CPF), endorsed by the Group’s Board of Executive Directors, on August 29th.