Finance & Economics | WPN World People News

Global trade growth continued to be slow for the fifth consecutive year, with 2016 showing the weakest trade performance since the 2008-2009 global financial crisis. According to a new paper, preliminary data suggest that world merchandise trade grew by a little more than 1 percent in 2016 compared to 2 percent in 2015 and 2.7 percent in 2014.

On February 17, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Malta.

The World Bank’s Board of Executive Directors approved a US$150 million loan to improve road maintenance in China’s Anhui province, on February 21.

Ceta passed a crucial hurdle on 15 February when MEPs voted to back the landmark EU-Canada trade deal. The agreement removing more than 99% of tariffs can provisionally enter into force as early as April. Speaking following the vote, Artis Pabriks, Parliament's lead MEP on Ceta, said: “Europe cannot survive without free and fair trade and high-quality interaction with other global players.” He also described Ceta as “the gold standard for future trade deals”.

The government of Vanuatu and the World Bank have committed to strengthening their partnership, with the Bank set to establish a more significant presence in Port Vila, boost its financial support for the nation’s priorities and increase collaboration with development partners.

A staff team of the International Monetary Fund (IMF) led by Koshy Mathai visited Ulaanbaatar during February 1-19 to continue discussions with the Mongolian authorities on a set of economic policies that could be supported by IMF financial assistance.

After the European Parliament voted in favour of the Canada-European Union Comprehensive Economic and Trade Agreement, educators will continue to fight this treaty that threatens to erode public education.

MEPs approved Ceta during last week's plenary session followed by a visit by Canadian Prime Minister Justin Trudeau telling them how the EU-Canada trade deal was not just about commerce, but also about improving people's lives. Newly-elected Austrian President Alexander Van der Bellen also addressed the Parliament, while MEPs adopted new anti-terrorism measures and set out their ideas for the future of the EU.

The European Investment Bank (EIB) on 17 February signed a new EUR 100 million loan with the Bank of Cyprus to support investments by local small and medium-sized enterprises (SMEs) and Midcaps, bolstering growth and creating quality new jobs for young people. A State Guarantee agreement between the EIB and the Republic of Cyprus was also signed.