Finance & Economics | WPN World People News

The World Bank Board of Executive Directors approved a US$52.5 million loan to improve mobility in the city of San Miguel de Ibarra and recreation and tourism areas in Yahuarcocha Lagoon in Ecuador.

The conditions for implementing the International Monetary Fund’s (IMF) 14th General Quota Review, which delivers historic and far-reaching changes to the governance and permanent capital of the Fund, have now been satisfied.

The Government of India, the Government of Telangana, and the World Bank Wednesday signed a US$ 75 million credit agreement for the Telangana Rural Inclusive Growth Project to enhance the agricultural incomes of small and marginal farmers in the state, and ensure increased access to services related to health, nutrition, sanitation and social entitlements.

The Executive Board of the International Monetary Fund (IMF) Wednesday completed the ninth review of Cyprus’s economic adjustment program supported by the Extended Fund Facility (EFF) arrangement. The completion of the review would make SDR 99 million (about €126.3 million) available to disbursement, which brings total disbursements under the program to SDR 792 million (about €1 billion). One more review remains to be completed.

The Organization for the Harmonization of Business Law in Africa (OHADA) and the Government of Benin, in collaboration with the World Bank Group and the International Organization of La Francophonie organized a regional workshop to share experiences on the implementation of the Entreprenant Status in the OHADA space.

Are virtual currencies an opportunity to transfer money more cheaply or just a way for criminals to trade in illegal goods? The Parliament's economic committee held a hearing on Monday to discuss the issues involved with experts, who told them EU regulation should not go beyond preventing and fighting crime. Parliament is currently working on a report on virtual currencies, which the economic committee is expected to vote on in April.

The World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections.

The priorities of the Dutch Presidency of the EU Council of Ministers are being outlined to parliamentary committees by Dutch ministers at a series of meetings, between 11 and 14 January and continuing this week.

A proposed emergency measure to import 70,000 tonnes of olive oil from Tunisia duty free, to help boost the struggling Tunisian economy, hit not least by terrorist attacks of 2015, was backed by the EP Trade Committee on Monday. To meet the concerns of the EU olive oil producers, they nonetheless inserted an amendment that allows the measure to be reviewed and corrected mid-way, should it harm the EU economy.