Finance & Economics | WPN World People News

The World Bank’s Board of Executive Directors on December 13 approved a US $25 million credit from the International Development Association (IDA) to help Lao PDR strengthen its road maintenance systems and improve road connectivity throughout the country.

An IMF staff team headed by Michel Lazare visited Mozambique from December 1-12, 2016 to assess recent economic developments and discuss policies to support macroeconomic stability. As highlighted in a November 28 statement, the team also initiated discussions on a new economic program that could be supported by the IMF.

Labor offices in Poland will learn new approaches to impact evaluations of labor market measures so that they can activate the unemployed and put them back to work more effectively. In a project implemented in collaboration with the Ministry of Economic Development international experts from the World Bank will conduct a series of workshops for the staff of labor offices from selected regions of Poland, and will provide practical assistance in putting the new solutions in place.

The World Bank and Jordan have signed a US$250 million financial package that aims to accelerate the Government’s quest to redress fiscal imbalances in the energy and water sectors and improve public service delivery.

Following three consecutive quarters of slowing economic activity in 2016, Mozambique’s GDP growth for 2016 is estimated at 3.6 percent down from 6.6 percent in 2015. The country is navigating a complex crisis. An ongoing economic downturn, brought about by low commodity prices, drought, and conflict, has been compounded by the fallout from the discovery of hidden debts in April 2016, according to the second edition of the Mozambique Economic Update (MEU): Facing Hard Choices, released on December 12.

On December 1, 2016, the Executive Board of the International Monetary Fund (IMF) discussed a staff paper on “ Small States’ Resilience to Natural Disasters and Climate Change—Role for the Fund”, which explores how the Fund’s macroeconomic policy advice, capacity building support, and lending facilities and instruments can help meet the evolving needs of small states facing risks from natural disasters and climate change.

The World Bank Group on December 12, announced a pause in the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements.

On December 2, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Namibia.