Finance & Economics | WPN World People News

An International Monetary Fund (IMF) team led by Ms. Yu Ching Wong visited Timor-Leste from February 1–12 to hold Article IV consultation discussions. The team met with Minister of State, Coordinator of Economic Affairs and Minister of Agriculture and Fisheries Estanislau da Silva, Minister of Public Works, Transport and Communications Gastão de Sousa, Minister of Petroleum and Mineral Resources Alfredo Pires, Central Bank Governor Abraão de Vasconselos, Deputy Minister of Finance Helder Lopes, members of Parliament, and other senior officials.

Costa Rica has made impressive economic, social and environmental progress, but further institutional and policy reforms will be necessary to ensure stronger and more inclusive growth, according to the first-ever OECD Economic Assessment of Costa Rica.

Indigenous peoples made significant social progress, experienced a reduction in poverty levels in several countries and gained improved access to basic services during the boom of the first decade of the century, but they did not benefit to the same extent as the rest of Latin Americans, according to a new World Bank study.

The European Central Bank has plenty of monetary policy instruments, and the leeway to use them if needed, ECB President Mario Draghi told economic and monetary affairs MEPs on Monday. The ECB’s assets purchase programme is flexible enough to adapt to changing economies and markets, he replied to comments that it may soon run out of room to manoeuvre.Mr Draghi had already warned that the ECB Board would probably reconsider its monetary policy stance in March due to the weaker inflation outlook.

30 European industries represented by AEGIS Europe called on European unions, businesses and NGOs to respond urgently to the European Commission’s new public consultation into the Market Economy Status (MES) of China.

In January, prices for U.S. imports decreased 1.1 percent for the second consecutive month, the U.S. Bureau of Labor Statistics reported on February 12. In both months, the declines were primarily driven by lower fuel prices. U.S. export prices also fell in January, decreasing 0.8 percent. The decline followed a 1.1-percent drop the previous month.

The OECD unemployment rate was stable at 6.6% in December 2015, 1.5 percentage points below the January 2013 peak. Across the OECD area, 40.4 million people were unemployed, 8.4 million less than in January 2013, but still 7.9 million more than in April 2008, before the crisis.

World Bank Group (WBG) President Jim Yong Kim concluded a two-day visit to Pakistan by urging the country to raise the ambition of its economic reforms while also encouraging the private sector to take a bigger role in creating jobs, especially for youth and women.

U.S. General Services Administration (GSA) Administrator Denise Turner Roth announced on February 9 plans for major repair and alteration projects outlined in President Obama’s fiscal year 2017 budget request. The proposed budget focuses on tackling our region’s greatest challenges by improving and strengthening existing federal infrastructure in metropolitan communities. This request will allow for safer, modernized buildings that optimize existing space and encourage continued development.

The number of job openings increased to 5.6 million on the last business day of December, the U.S. Bureau of Labor Statistics reported on February 9. Hires and separations were little changed at 5.4 million and 5.1 million, respectively. Within separations, the quits rate was 2.1 percent, and the layoffs and discharges rate was 1.1 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.