Finance & Economics | WPN World People News

A new global program to advance research in digital finance and accelerate digital financial inclusion in developing countries, the Financial Inclusion Global Initiative, has been launched by the World Bank Group, the International Telecommunication Union (ITU) and the Committee on Payments and Market Infrastructures (CPMI), with support from the Bill & Melinda Gates Foundation.

Slovenia has built up a sound development programme over the last 12 years, particularly in the Western Balkans, and should now work on tightening its focus in other regions in order to get the most impact from its aid contributions, according to a new OECD report.

The 2017 edition of the Consumer Conditions Scoreboard shows that more and more EU consumers are shopping online and that their trust in e-commerce has increased, in particular in buying online from other EU countries.

An International Monetary Fund (IMF) team from Washington, D.C., headed by Mr. Jarkko Turunen, visited Phnom Penh and Sihanoukville from July 12 to 25, 2017, to conduct discussions on the annual Article IV review of the Cambodian economy. Mr. Markus Rodlauer, Deputy Director of the Asia Pacific Department of the IMF, joined the final policy discussions.

The global recovery is firming and broadening. And the ongoing economic expansion in the euro area provides confidence.

But while inflation will gradually head to levels in line with our definition of price stability in the mid-term, it has yet to translate into stronger inflation dynamics.

On July 21, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Euro Area.

The cyclical recovery is firming and becoming broad based. Lower energy prices, supportive policies, stronger labor markets and a recovery in credit growth have boosted domestic demand, especially private consumption.

On July 25th, the Uganda Economic Update released by the World Bank shows the country currently with a shortfall of nearly $1.4 billion in financing per year, equivalent to 6.5 percent of its Gross Domestic Product (GDP). Uganda needs to explore raising capital from the private sector to finance its infrastructure investments, which are key to driving growth, creating jobs and reducing poverty.

The quality of policies and institutions weakened in Sub-Saharan Africa in 2016 amid challenging economic conditions, according to the latest review by the World Bank. This weaker trend was observed in 40% of the region’s IDA countries, notably commodity exporters and fragile states.

Côte d'Ivoire could achieve economic gains of $6 billion to $8 billion over time, if it could improve gender parity and gradually eliminate discrimination against women, according to the World Bank report on Cote d’Ivoire’s economic situation, released on July 24th.

With its new Delegation in Ulaanbaatar, the EU will have a total of 140 Delegations around the world.

The President of the European Commission, Jean-Claude Juncker said: "The European Union is delivering on a promise to open a fully-fledged delegation in Mongolia – a democratic country strategically located between China and Russia and an important partner for us.