Finance & Economics | WPN World People News

An IMF staff team led by Mr. Nigel Chalk, Deputy Director of the Western Hemisphere Department, and Ms. Uma Ramakrishnan, Mission Chief for Jamaica, is in Kingston on Friday for a brief post-election staff visit.

On February 22, 2016, the Executive Board of the International Monetary Fund (IMF) agreed to move forward with a framework to help ensure the evenhandedness of Fund surveillance.
The framework responds to recommendations from the 2014 Triennial Surveillance Review (TSR) and, as outlined in a staff paper has two key elements. First, it articulates principles of what it means to be evenhanded. Second, it establishes a mechanism for reporting and assessing specific concerns about lack of evenhandedness in surveillance.

The International Monetary Fund (IMF) will separately identify the renminbi (RMB) in its official foreign exchange reserves database starting October 1, 2016. The change will be reflected in the survey for the fourth quarter of 2016 that will be published at the end of March 2017.

The European Investment Bank (EIB) and Bank Gospodarstwa Krajowego (BGK), Poland’s national promotional bank, have strengthened their long-standing and successful partnership by signing a Memorandum of Understanding setting out a framework for collaboration under the European Investment Advisory Hub (EIAH) as well as a EUR 125m loan agreement for the financing of small to medium-sized investments in infrastructure, and investments undertaken by small and medium-sized Polish companies.

Spain’s gradual economic recovery should enable it to start reversing the sharp decline in its development assistance since 2010 and focus more of its aid budget on the neediest countries, according to an OECD Review.

During February 29 - March 4, 2016, the World Bank held a practical training course on Financial Programming and Policies in Ashgabat. The workshop was attended by officials from the Turkmen Government agencies, including representatives of the Ministry of Finance, the Ministry of Economy and Development, the Central Bank of Turkmenistan, the Main State Tax Inspectorate, and the State Committee on Statistics.

G20 total international merchandise trade

Seasonally adjusted, current prices and US$ billion

Consumer prices, selected areas

January 2016, percentage change on the same month of the previous year

On February 12, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with India.
The Indian economy is on a recovery path, helped by a large terms of trade gain (about 2.5 percent of GDP), positive policy actions, and reduced external vulnerabilities. Since late 2014, a collapse of global oil prices has boosted economic activity in India and underpinned a further improvement in the current account and fiscal positions, and engendered a sharp decline in inflation.

Wednesday, Cyril Muller, World Bank Regional Vice President for Europe and Central Asia, concluded his first visit to Albania. The visit focused on Albania’s long-term reform efforts to overcome its historic isolation and move to full EU and global integration. The Regional Vice President underscored the need for a long-term shift to investment and export-led growth for greater prosperity. He expressed support for Albania’s reform efforts and reaffirmed the World Bank’s strong partnership with Albania.