Finance & Economics | WPN World People News

An International Monetary Fund (IMF) mission, led by Jacques Miniane, visited Pristina during November 9-18, 2016, to hold discussions on the second and third reviews under Kosovo’s Stand-By Arrangement (SBA) with the IMF. At the conclusion of the visit, Mr. Miniane issued the following statement.

An International Monetary Fund (IMF) mission, led by Ron van Rooden, visited Kiev during November 3-17, to initiate discussions on the third review of the authorities’ economic reform program supported under the Extended Fund Facility (EFF) arrangement. The mission also held discussions for the 2016 Article IV consultation with Ukraine.

The Executive Board of the International Monetary Fund (IMF) on November 18, 2016 approved SDR 30.7125 million (about US$41.6 million) in financial assistance for the Republic of Haiti under the Rapid Credit Facility (RCF) to help the authorities meet urgent balance of payments needs arising from the effects of Hurricane Matthew. The funds will be made available immediately.

It's vital Europe takes up the leadership in the fight against tax evasion, Nobel Prize-winning economist Joseph E. Stiglitz told Parliament's inquiry committee investigating the Panama papers on 16 November. Stiglitz, who served as an advisor to the Panama government following the revelations, said the US was unlikely to be effective in tackling the issue: "When your [future] president is evader-in-chief, it’s hard to have confidence in where we are going to go."

The European Economic and Social Committee (EESC) and the International Labour Organization (ILO) have started a two-day high-level dialogue on the future of work bringing together more than 300 representatives of the social partners and civil society in Europe. They are expected to map out the main drivers of change which are transforming jobs and the economy in Europe.

This week the Eurasian Economic Commission (EEC) and the World Bank have signed an agreement to implement a joint research project on reaping the economic benefits from creating a shared digital space in the Eurasian Economic Union (EAEU) countries, including through development of shared digital platforms.

A Third Poverty Reduction Support Development Policy Operation (PRSDPO-III) intended to boost economic transformation in Liberia, critical for achieving inclusive growth was approved on November 17 by the World Bank Board of Executive Directors. This US$40 million International Development Association (IDA) grant will help address governance reforms and human capital development in the country.

Addressing labor market challenges and unlocking private sector growth need to go hand in hand in the years ahead, according to a new report jointly issued by the Ministry of Labour and Human Resources, of the Royal Government of Bhutan (RGOB) and the World Bank released on November 17.

There needs to be a “comprehensive global approach” against secret tax structures, says the Nobel Prize-winning economist, Joseph Stiglitz, who called for “zero tolerance”. Speaking to Parliament’s Panama Committee on Wednesday, the former advisor to the Panamanian government suggested that secrecy in tax affairs should be treated like a disease which needs to be isolated.

This is the first alternative arrangement under the World Bank’s new procurement framework, which went into effect July 1. What this means is that the agency’s own procurement arrangements are approved for use in Bank projects and can be used when deemed the best approach to deliver effective results – as an alternative to World Bank processes and regulations.