Finance & Economics | WPN World People News

The growing Lao economy has become increasingly integrated into the global economy through the ASEAN Economic Community and other regional and global trade pacts. Increased trade links with other countries have translated into increased access to better or cheaper imports such as intermediate inputs for the manufacturing sector and increased demand for exports such as electronic parts and components. Yet further challenges to economic growth remain, according to three new World Bank Group reports released this month.

An International Monetary Fund (IMF) mission led by Felix Fischer visited Bissau during March 28–April 7, 2016 to conduct the combined first and second reviews under the Extended Credit Facility (ECF) arrangement.

The World Bank’s Board of Executive Directors Wednesday approved an International Development Association (IDA) grant of US$40.5 million for the Regional Program to Harmonize and Modernize Living Conditions Surveys (the Project). The announcement marks a new era in understanding living conditions in West Africa, with a focus on high-quality, frequent, comparable, and publically available data to better plan, monitor, and evaluate public policies and programs.

Benchmarks are widely used to track market developments. As many financial transactions are linked to them, they can determine who benefits from investing in a particular financial product. However, financial scandals involving benchmarks such as Libor and Eurobibor have shown that they are susceptible to manipulation.On 7 April the economic affairs committee votes on new rules to ensure the full transparency of all benchmarks used in the EU.

An International Monetary Fund (IMF) mission led by Rogerio Zandamela visited Nairobi from March 30 to April 5, 2016 to discuss a Staff-Monitored Program (SMP) with the Somali authorities.

A team from the International Monetary Fund (IMF) led by Roger Nord, IMF Mission Chief and Deputy Director of the African Department, visited Kampala from March 21 to April 6, to conduct the sixth review of Uganda’s economic program supported by the Policy Support Instrument (PSI).

Australia should provide early access to more intensive employment services for disadvantaged laid-off workers to help them find a new job more quickly, according to a new OECD report.

Russia’s anticipated economic recovery has been delayed, and the country continues to adjust to an adverse external environment of lower oil prices and international sanctions. In 2015, the consequences of these twin shocks caused real GDP to contract 3.7 percent, the World Bank said in its latest Russia Economic Report launched in Moscow on April 6.

On February 19, 2016, the Executive Board of the International Monetary Fund (IMF) reviewed the adequacy of the Fund’s precautionary balances.