Finance & Economics | WPN World People News

World Bank Group commitments to help developing countries take on poverty and boost opportunity reached nearly $59 billion in loans, grants, equity investments and guarantees in fiscal year 2017 (July 1, 2016 – June 30, 2017).

Mr. David Lipton, First Deputy Managing Director of the International Monetary Fund (IMF), visited Mexico during July 16–18, 2017, at the invitation of the national authorities. While in Mexico City he had the opportunity to exchange views on the Mexican economy with a range of Governmental Officials—including Bank of Mexico Governor Agustín Carstens, Finance Secretary José Antonio Meade, and Foreign Affairs Secretary Luis Videgaray—as well as academics and representatives of the private sector.

A new report released by the World Bank highlights the potential impacts that the expected continuing boom in low-carbon energy technologies will have on demand for many minerals and metals, on July 18th.

Source: Quarterly Labour Market Statistics, OECD

The Austrian economy is strengthening, supported by recent tax reform and a pick-up in international trade. With business and household confidence rising and the short-term outlook favourable, policymakers should enact deeper structural reforms that will improve both fiscal sustainability and social cohesion, according to a new report from the OECD.

IMF staff expects a modest growth recovery with low inflation, and continued weak fiscal and external positions. GDP growth is projected to recover gradually to above 4.5 percent in 2017 and 2018.

On July 17, 2017, the Executive Board of the International Monetary Fund (IMF) completed the second review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. Completion of the review enables the disbursement of the equivalent of SDR 119.894 million (about US$ 167.2 million), bringing total disbursements under the arrangement to the equivalent of SDR 359.682 million (about US$ 501.5 million).

On July 17, 2017, the Executive Board of the International Monetary Fund (IMF) completed the second review under the Extended Credit Facility (ECF) [1] arrangement for the Central African Republic. The completion of the review enables a disbursement of SDR 11.70 million (about US$16.3 million), which will bring total disbursements under the arrangement to SDR 36.75 million (about US$51.2 million).

On July 14, 2017, the Executive Board of the International Monetary Fund (IMF) completed the seventh and final review of Burkina Faso’s program supported by the Extended Credit Facility (ECF). The decision was taken without a Board meeting and enables the disbursement of SDR 4.47 million (about US$6.2 million), bringing total disbursements under the ECF arrangement that was approved in 2013 to SDR 55.64 million (approximately US$77.4 million).

On July 7, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the United Arab Emirates and considered and endorsed the staff appraisal without a meeting.