Finance & Economics | WPN World People News

On August 29, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Equatorial Guinea.

The EU’s budget has been criticised for years for relying too much on member states’ contributions and for being too inflexible when unexpected crises occur. MEPs discussed the issue with their national counterparts during a conference on how to finance the EU's budget on 7-8 September. Most panellists agreed that a reform was necessary to ensure more transparency and efficiency.

The Executive Board of the International Monetary Fund (IMF) on 7th September approved a three-year extended arrangement under the Extended Fund Facility (EFF) with Bosnia and Herzegovina for an amount equivalent to SDR 443.042 million (about €553.3 million, or 167.06 percent of quota) to support the country’s economic reform agenda.

An IMF mission led by Abdoul Aziz Wane visited Conakry during August 24 to September 7, 2016, to conduct discussions on the eighth and final review of the authorities’ program supported by an arrangement under the Extended Credit Facility (ECF).

Markus Ferber

The Netherlands should improve its policies to attract and retain highly skilled migrants in order to address labour shortages and strengthen its position as a knowledge-based economy, according to a new OECD report.

African Ministers from coastal countries and small island developing states along with the World Bank and development partners met in Mauritius on September 1 and 2 at the African Ministerial Conference on Ocean Economies and Climate Change to discuss the importance of building sustainable climate-smart ocean economies in Africa.

The OECD has welcomed the release by China and the US of peer reviews of their fossil fuel subsidies.
The ground-breaking voluntary peer review mechanism, first applied to the world’s two largest economies, aims to pave the way for widespread reform across G20 countries of inefficient public support to fossil fuels - a major contributor to air pollution and climate change.