Finance & Economics | WPN World People News

On July 6, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Italy.
The Italian economy is recovering gradually from a deep and protracted recession. Buoyed by exceptionally accommodative monetary policy, favorable commodity prices, supportive fiscal policy, and improved confidence on the back of the authorities’ wide-ranging reform efforts, the economy grew by 0.8 percent in 2015 and continued to expand in the first quarter of 2016. Labor market conditions have been improving gradually, and nonperforming loans (NPLs) appear to be stabilizing at around 18 percent of total loans.

The World Bank Group and the Government of Guinea on 11 July announced the launch of a One Stop Shop facility for business procedures that will simplify and speed up the processing of licenses, permits and other approvals for mining and infrastructure projects, supporting economic growth in the country.

Long term growth and stability as well as improved health and education services are the focus of a new report, released on 11 July, analyzing Government spending for the Federated States of Micronesia (FSM). Prepared at the request of the government, the Public Expenditure Analysis provides a series of both medium and long-term recommendations to stand the FSM economy in good stead for the year 2024 and beyond.

On July 1, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the 2016 Article IV consultation with Sierra Leone.
After a dozen years of strong growth, benefiting from both improved polices and booming commodity prices, Sierra Leone has been hit by twin shocks since mid-2014: the Ebola epidemic and sharply declining iron ore prices.

The Executive Board of the International Monetary Fund (IMF) on Friday approved a disbursement of SDR 261.63 million (about US$364 million) for Ecuador under the Rapid Financing Instrument (RFI). This financial support will help the country meet an urgent balance-of-payments need due to the April 16, 2016 earthquake that caused significant damages to infrastructure, housing and agriculture.

This week, DLL and Rabobank have received an additional EUR 400 million from the European Investment Bank (EIB) for Small and medium sized enterprise (SME) owners and corporate enterprises wishing to invest. With this facility, the EIB is supporting the recovery of businesses in the Netherlands and the rest of Europe. Entrepreneurs ranging from SMEs to large corporates needing a bank loan or lease to fund their investments and that meet the criteria can benefit from an interest-rate discount of up to 0.90%.

The Government of India, the Government of Bihar and the World Bank on July 8 signed a US$ 290 million credit agreement to help improve livelihood opportunities for poor rural households across 300 blocks and 32 districts of Bihar.

. UK Business Secretary chaired the first fortnightly inter-ministerial meeting on business engagement new fund will help the development of innovative UK business ideas looking at tackling climate change and cancer
. A new funding boost of £57.5 million was announced for the UK’s energy and infrastructure, biomedical and quantum technology sectors by Business Secretary Sajid Javid at the first inter-ministerial group on business engagement.

EU member states should use a €1.349 billion EU budget refund for 2015 to honour their pledges to contribute to two EU trust funds set up to tackle the refugee crisis, urge MEPs in a resolution voted on Wednesday. Parliament approved a Commission proposal to amend the EU’s 2016 budget in order to include a positive balance from 2015. This balance is to be refunded in the form of a reduction in member states’ contributions.

Ethiopia’s investments in health, education, social protection, and infrastructure have had a positive impact on economic development and promoting shared prosperity in the country, says 2015 Ethiopia Public Expenditure Review, a new World Bank Group report released on 6 July.