Finance & Economics | WPN World People News

Digital security risk should be treated as an economic rather than a technical issue, and should be part of an organisation’s overall risk management and decision-making, according to a new OECD Recommendation to member countries.

An International Monetary Fund (IMF) mission, led by Geert Almekinders, visited Nepal from September 20 to October 1, to hold discussions for the 2015 Article IV consultation. The mission met Minister of Finance Ram Sharan Mahat, Central Bank Governor Chiranjibi Nepal, and other high-level government officials. In addition, the mission met with representatives of the private sector, labor unions, and the donor community.

The World Bank announced Thursday US$500 million in new support for Tunisia to cope with the economic impacts of the recent terrorist attacks, while also supporting further headway in the ongoing reform program. The new operation is the third and final of a series designed to support the changes emanating from the 2011 revolution and set the stage for inclusive growth and medium-term job creation.

A team from the International Monetary Fund (IMF), led by Mr. Oral Williams, visited Lilongwe September 16–30, 2015 to conduct discussions for the 2015 Article IV Consultations, and to discuss progress under the Extended Credit Facility (ECF) arrangement.

On October 1, the World Bank presented its new report The Active Aging Challenge for Longer Working Lives in Latvia, prepared in cooperation with the Ministry of Welfare of the Republic of Latvia.

The Executive Board of the International Monetary Fund (IMF) Wednesday completed the sixth review of Tunisia’s economic performance under a 24-month program supported by a Stand-By Arrangement (SBA). The completion of the sixth review enables the immediate disbursement of SDR 214.875 million (about US$301.6 million), bringing total disbursements under the arrangement to SDR 1 billion (about US$ 1.41 billion).

The continued impact of the lower oil prices in a context of ongoing international sanctions will cause the Russian economy to contract by an estimated 3.8 percent in 2015, the World Bank said Wednesday in its latest Russia Economic Report launched in Moscow.

Economic reforms have generated impressive results in the Vietnamese agricultural sector, as farm production more than tripled over the 1990-2013 period, lifting rural incomes, reducing poverty, combatting under-nourishment and sending agro-food exports soaring. Viet Nam should now seek to build on these achievements while addressing long-term challenges posed by slower rates of production growth, declining commodity prices, limited land for further expansion and increasing evidence of negative environmental impacts from farming, according to a new OECD report.

South Asian countries, including Sri Lanka, can benefit from urbanization as a major opportunity to transform their economies and join the ranks of richer nations, according to a World Bank report.

The Executive Board of the International Monetary Fund (IMF) on September 28, 2015 completed the eighth review of Pakistan’s economic performance under a 36-month program supported by an Extended Fund Facility (EFF) arrangement. The Executive Board’s decision enables the immediate disbursement of an amount equivalent to SDR 360 million (about US$504.8 million), bringing total disbursements to SDR 3.24 billion (about US$4.54 billion).