Finance & Economics | WPN World People News

Mongolia’s rapid economic and social development, fuelled by the discovery of significant mineral resources, has exacerbated governance and corruption challenges. To address this, a new OECD report says that Mongolia should complete the reform of its anti-corruption legislation, strengthen enforcement and make the prevention of political corruption a priority.

The eighth Full Forum of the Vienna Initiative assessed key achievements over the past year and proposed an agenda for future cooperation at a meeting hosted by the National Bank of Poland in Warsaw on 18 November on cross-border banking issues affecting Central, Eastern and South Eastern Europe (CESEE).

According to the latest “Paying Taxes 2016” report, prepared by PwC, a consulting company, and the World Bank Group, Poland is currently on the 58th position when it comes to the degree of complexity of tax systems worldwide. It represents an improvement by 29 positions compared to the last year’s ranking. The first place in the “Paying Taxes 2016” ranking was claimed by Qatar, while the last one (189th) — by Bolivia.

Private companies continue to face considerable obstacles, linked to transparency, efficiency and other ills of government procurement systems around the world, a new World Bank Group report finds.

Participants to the Arrangement on Officially Supported Export Credits have agreed new rules on official support for coal-fired power plants, including restrictions on official export credits for the least efficient coal-fired power plants, the OECD announced on November 18.

The Executive Board of the International Monetary Fund Wednesday completed the fifth review of Uganda’s economic performance under the program supported by the Policy Support Instrument (PSI). The Board’s decision was taken on a lapse of time basis.

The World Bank projects that Malawi’s economic growth rate for 2015 will slow down to 2.8 percent due to a combination of factors such as weak fiscal discipline and a now clearer impact of weather shocks on agricultural production. The rate of inflation is also projected to continue in double digits, reaching an estimated average of 21.5 percent in 2015, the second highest in Africa.

A mission from the International Monetary Fund (IMF) led by Ms. Kristina Kostial visited Amman from November 3–17 to take stock of recent economic developments and discuss with the authorities their planned economic policies for 2016 and beyond.

On November 11, 2015 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Finland.
The Finnish economy has been in recession for three years. It has experienced a unique confluence of structural and cyclical shocks since 2007. Exports have suffered due to the declines of Nokia and the paper industry, compounded by weak external demand, especially from the euro area and Russia.