Finance & Economics | WPN World People News

Russia continued its adjustment to lower oil prices in 2016, in an environment of economic sanctions. A sustained fall in real incomes kept domestic demand depressed, and the unfavorable external conditions repeatedly affected Russia’s economic growth.

South Asia could become the fastest growing exporting region of the world if India and its South Asian neighbors enhance the productivity of their firms by at least two percentage points each year, says a new World Bank report.

A new report from the UN’s International Fund for Agricultural Development (IFAD) shows that for each dollar invested through its Adaptation for Smallholder Agriculture Programme (ASAP), farmers could earn a return of between US$1.40 and $2.60 over a 20 year period by applying climate change adaptation practices.

An International Monetary Fund (IMF) team led by Dalia Hakura, Mission Chief for the Republic of Congo, visited Brazzaville during October 25-November 7, 2016 to conduct discussions for the 2016 Article IV review of the Congolese economy. Discussions focused on assessing the macroeconomic impact of the sharp decline in oil prices and the short- and medium-term policies needed to safeguard macroeconomic stability and ensure debt sustainability, as well as structural reforms to promote sustained inclusive growth and reduce poverty.

To help farmers to cope with volatile prices, the EU must develop new risk and crisis management tools and strengthen their bargaining position in the food supply chain, says a non-legislative resolution voted in the Agriculture Committee on Tuesday. The supply chain should be made more transparent, and the EU budget more flexible, so that funds can be deployed faster to tackle crises, add MEPs.

The IMF has published a Fiscal Transparency Evaluation (FTE) report for Tunisia, on November 8, which was carried out at the request of the Government of Tunisia by a joint team from the IMF’s Fiscal Affairs and Statistics Departments that visited Tunis in November-December 2016. This report assesses Tunisia’s fiscal transparency practices based on the IMF’s Fiscal Transparency Code.

EU structural funding for Spain and Portugal should not be suspended, as this would only undermine investment, harm their economies and alienate their citizens from the EU project, MEPs agreed with Spanish economy minister Luis de Guindos and Portuguese finance minister Mário Centeno at a joint meeting of the Regional Development and Economic Affairs committees on Tuesday.

An International Monetary Fund (IMF) staff mission led by Cheikh Anta Gueye visited Niamey from October 24 to November 7, 2016 to conduct the 2017 Article IV consultation and discuss a successor Extended Credit Facility (ECF) arrangement that could support Niger’s medium-term economic and financial program.

Lifting many of the regulations stifling business competition in Greece would benefit both consumers, through lower prices, and firms, via higher turnover, according to the OECD.

The World Bank (International Bank for Reconstruction and Development – IBRD, rated AAA/Aaa) announced on November 7, the launch of USD 100 million in World Bank Green Bonds purchased by Bank Al-Maghrib, the Central Bank of Morocco, for its reserves management. Marrakesh, Morocco is hosting the COP22 from November 7-18, where international climate leaders will come together to focus on the urgent actions needed to ensure the Paris Agreement is implemented.