Finance & Economics | WPN World People News

Madagascar received approximately $227 million to increase productivity and strengthen resilience of rural livelihoods in Alaotra-Mangoro and Sofia, two regions that are critical to national food production. The funding consists of a $200 million credit by the World Bank and a €25 million credit by the French Development Agency (Agence Française de Développement or AFD) that will be approved by AFD’s board in July 2023.

The World Bank and the Government of Romania, through the Ministry of Finance, signed on April 6, a EUR 60 million loan, following its approval by the Bank’s Board of Directors on March 30. The Romania Rural Pollution Prevention and Reduction project aims to strengthen Romania’s ability to monitor agricultural pollution, raise public awareness of its environmental impacts, and encourage adoption by Romania’s farmers of sustainable agricultural practices to reduce and prevent pollution. This five-year project will be implemented by the Ministry of Environment, Waters and Forests.

Tunisia's economic recovery slowed in 2022 while the current account and fiscal deficit rose amid mounting global energy and food prices and more working-age people stayed out of the labor market amid diminishing job prospects, according to the World Bank's Spring edition 2023 of the Tunisia Economic Monitor.

Papua New Guinea’s economy has recovered above its pre-pandemic GDP, with high commodity prices and the removal of COVID-19 restrictions accelerating economic growth to 4.5 percent for 2022, the World Bank’s latest Economic Update for Papua New Guinea has found.

As part of a UNDP-led green renovation project, technicians install solar panels at a police academy in Rajaf, South Sudan.

The 26th Eurasian Economic Summit in Istanbul brought together heads of state and other leaders from various fields to discuss solutions to global challenges in different aspects.

Argentina’s annual inflation rate breached the 100% mark for the first time since 1991.

The government’s statistics agency said Tuesday the yearly inflation rate for February rose to 102.5%, making it one of the highest in the world. The agency said consumer prices rose 6.6% last month compared to the same period a year ago, and a combined 13.1% for the first two months of this year.

Britain’s finance minister lays out his budget plan Wednesday while workers in a range of sectors strike to call attention to disparities in wage gains and inflation.

The OECD unemployment rate remained at 4.9% in January 2023, the seventh consecutive month at this record low since the start of the series in 2001. The unemployment rate was stable in 12 of 38 OECD countries, but close to its record low in only 7 countries, including Canada, France, Germany, and the United States. The number of unemployed persons declined to 33.2 million, remaining close to the record low reached in July 2022.