Finance & Economics | WPN World People News

Uganda will begin pumping its first commercial oil in 2018, which could be a major source of socio-economic transformation if revenues are well invested to diversify the country’s economy.

On June 20, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with El Salvador.

Governments must act faster to help people and firms to make greater use of the Internet and remove regulatory barriers to digital innovation or else risk missing out on the potentially huge economic and social benefits of the digital economy, the OECD told ministers and high-level officials from almost 40 countries today.

A new World Bank report draws from experiences in five African countries to explain why independent power projects (IPPs) are crucial to help deliver electricity to the 600 million people without it in Sub-Saharan Africa. The report highlights the challenges policymakers face and factors that can lead to scaled-up and sustainable power sector investment.

Mexico has become a frontrunner in a short time in making government data publicly accessible, but it now needs to put this wealth of digital information to use to foster innovation and benefit the Mexican economy and society, according to a new OECD report.

Fixed broadband penetration in Latin America & the Caribbean (2013-14)

The Tongan economy has been rebounding since a contraction in FY2013. Growth accelerated from 2.1 percent in FY2014 to 3.7 percent in FY2015, supported by construction, tourism, strong remittances, and strong private credit growth, notwithstanding weather-related disruptions to agricultural production. Inflation declined to -0.3 percent at end-February 2016, reflecting lower global food and fuel prices.

The European Central Bank is ready for all contingencies following the UK’s EU referendum, said ECB President Mario Draghi in his second monetary dialogue this year with the Economic and Monetary Affairs Committee on Tuesday. Mr Draghi declined to speculate on a possible outcome of the vote, but admitted that "it is difficult to foresee the various dimensions of the vote on the markets and the euro area economies.”

The World Bank Board on 21 June approved the US$ 63 million Tejaswini: Socioeconomic Empowerment of Adolescent Girls & Young Women Project in Jharkhand, which will support adolescent girls and young women, ages 14-24, to complete their secondary level education and acquire relevant skills for the job market.

On June 17, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Jamaica.

Since May 2013, Jamaica’s implementation of the economic reform program supported by the EFF has been exceptional by international standards.