Finance & Economics | WPN World People News

The World Bank’s Board of Executive Directors approved an International Development Association (IDA) grant of $2.5 million to support the national statistical system of Comoros. Parallel funding from the Government of Comoros and its development partners, including the UNFPA, AfDB, AFD, UNICEF and GAVI is $1 million.

On January 5, the Executive Board of the International Monetary Fund (IMF) completed the seventh review of Uganda’s economic program under the Policy Support Instrument (PSI). The Board’s decision was taken on a lapse of time basis. In completing the review, the Board granted a waiver of the nonobservance of the end-June 2016 assessment criterion on the overall deficit of the central government.

Global economic growth is forecast to accelerate moderately to 2.7 percent in 2017 after a post-crisis low last year as obstacles to activity recede among emerging market and developing economy commodity exporters, while domestic demand remains solid among emerging and developing commodity importers, the World Bank said in a report released on Tuesday.

Austria has completed the requirements for adherence to the International Monetary Fund’s Special Data Dissemination Standard (SDDS) Plus—the highest tier of the Data Standards Initiatives. Austria’s SDDS Plus data are now posted on the Dissemination Standards Bulletin Board.

Economic growth in Poland is estimated to increase to 3.1 percent in 2017, up from 2.5 percent in 2016, according to the latest edition of the Global Economic Prospects report, launched on January 10. In 2018 and 2019, the economy is forecast to grow by 3.3 and 3.4 percent, respectively, supported by robust domestic demand, especially private consumption.

On January 9, 2017, the Executive Board of the International Monetary Fund (IMF) completed the fifth review of Tanzania’s economic performance under the program supported by a three-year Policy Support Instrument (PSI). The Board’s decision was taken on a lapse of time basis.

Requests for an 18-month SCF arrangement with access of about US$204 million (SDR 144.18 million) or 90 percent of Rwanda’s quota and to extend Rwanda’s PSI-supported program through end-2017, were approved by the Board on June 8, 2016.

The World Bank Board of Directors on January 5, approved a EUR 50 million IBRD loan for the Employment Support Project in Bosnia and Herzegovina (BiH) with the objective to increase formal private sector employment among targeted groups, starting with the young first time job seekers.