Finance & Economics | WPN World People News

The Executive Board of the International Monetary Fund (IMF) on 1 July completed the fifth review of Sierra Leone’s performance under the economic program supported by an Extended Credit Facility (ECF) arrangement. Completion of the review enables the disbursement of SDR 24.44 million, about US$34.12million, bringing total disbursements under the arrangement to SDR 162.22 million (about US$226.45 million).

An International Monetary Fund (IMF) mission, led by Christoph Duenwald, held discussions with the Afghanistan authorities in May and June 2016, on IMF support for Afghanistan’s economic program.

The euro area (EA19) seasonally-adjusted unemployment rate was 10.1% in May 2016, down from 10.2% in April 2016 and from 11.0% in May 2015. This is the lowest rate recorded in the euro area since July 2011. The EU28 unemployment rate was 8.6% in May 2016, down from 8.7% in April 2016 and from 9.6% in May 2015. This is the
lowest rate recorded in the EU28 since March 2009. These figures are published by Eurostat, the statistical office of the European Union.

The European Commission has proposed the 2017 draft EU Budget of €134.9 billion in payments focusing on the two main policy priorities for Europe: supporting the ongoing recovery of the European economy and addressing the security and humanitarian challenges in our neighbourhood on 30 June. Increased funding will go to investments in growth, jobs and competitiveness in the European Union as well as to securing the necessary resources to protect the external borders of the EU, to reinforce security inside and outside the Union, to provide support for the reception and integration of refugees, and to address the root causes of migration in the countries of origin and transit.

An International Monetary Fund (IMF) mission, led by Christoph Duenwald, held discussions with the Afghanistan authorities in May and June 2016, on IMF support for Afghanistan’s economic program.

The OECD Working Group on Bribery in International Transactions has continuously urged Japan since 2002 to strengthen its efforts to fight bribery by Japanese companies in their foreign business activities, and implementation of the Convention on Combating the Bribery of Foreign Public Officials in International Business Transactions.

MEPs and ministers struck a deal on a ban on fishing below a depth of 800 meters in the North-East Atlantic. The ban, agreed on Thursday afternoon, will apply to bottom trawling and would also restrict deep-sea fishing to the area where it took place between 2009 and 2011.

Representatives of more than 80 countries and jurisdictions have gathered in Kyoto, Japan to push forward ongoing efforts to update international tax rules for the 21st century, the latest step in the OECD/G20 Project to tackle Base Erosion and Profit Shifting (BEPS).

The World Bank Board of Executive Directors on 30 June approved US$40 million (of which US$26 million in grants) in support of the Republic of Mozambique’s Agriculture and Natural Resources Landscape Management Project. It will contribute to the sustainability of natural resources while improving the livelihoods of targeted rural households in Mozambique.