Finance & Economics | WPN World People News

Despite a challenging global environment, the growth prospects of Emerging Asia (Southeast Asia, China and India) remain robust over the medium term, according to the latest edition of the OECD Development Centre’s Economic Outlook for Southeast Asia, China and India.

The World Bank’s Board of Executive Directors on December 15, approved EUR500 million (US$558.27 million equivalent) for Romania for the Second Fiscal Effectiveness and Growth Development Policy Loan (DPL). The objective of the new program is to reform institutions and implement policies that are central to achieve higher sustainable growth, create more and better jobs, and improve living standards in Romania.

Denmark should boost benefit coverage for low-skilled and low-wage workers and improve the support available to blue-collar workers as part of a series of reforms to help laid-off workers get back into work more quickly, according to a new OECD report.

For the first time since the financial crisis, principal repayments on external debt held by low- and middle-income countries exceeded lending inflows, according to International Debt Statistics 2017 (IDS 2017) released on December 14.

The World Bank Board of Executive Directors on December 14 approved an additional US$5.1 million in support of ongoing efforts by the government of Djibouti to create a dynamic private sector that will be an engine of job creation and inclusive growth. The new funding comes from the International Development Association (IDA), the World Bank’s fund for the poorest countries, and aims to sustain momentum on reforms to make the business environment more hospitable and develop the country embryonic private sector, with an improved financial sector and payment system.

A proposal to grant Spain €856,800 in EU aid to help find new jobs for 250 former car workers made redundant by 29 firms manufacturing motor vehicle parts in the Valencia region was approved by Parliament on Wednesday. The European Globalisation Adjustment Fund (EGF) aid had already been approved by the Council of Ministers on 12 December.

An International Monetary Fund (IMF) staff team led by Jan Mikkelsen, met with the South Sudanese authorities in Nairobi, Kenya December 5-9 to hold discussions in the context of South Sudan 2016 Article IV Consultation.

South Asia could become the fastest growing exporting region of the world if authorities in Pakistan and its South Asian neighbors implement a set of policy actions aimed at improving the business environment, connecting to global value chains (GVC), leveraging clusters, and strengthening firm capabilities, says a new World Bank report – South Asia’s Turn: Policies to Boost Competitiveness and Create the Next Export Powerhouse.

The World Bank’s Board of Executive Directors on December 13 approved two International Development Association (IDA)* credits of $100 to support reform priorities for trade facilitation and transport modernization in Burkina Faso and Côte d’Ivoire. Each country will receive $50 million.

An International Monetary Fund (IMF) team led by Jarkko Turunen visited The Bahamas from December 7-13, 2016, to update the economic and financial outlook following Hurricane Matthew.