Finance & Economics

IMF Executive Board Concludes 2015 Article IV Consultation with Norway

The Norwegian economy performed well in 2014 despite the sharp fall in oil prices toward the end of the year. Mainland (i.e. non-oil) GDP grew at 2.2 percent, with weaker investment demand being offset by stronger government consumption. Unemployment stayed at a low level in 2014, but has recently edged up to 4.5 percent in June according to the labor force survey.

Statement at the End of an IMF Staff Visit to Conduct the Second Review of Zimbabwe’s Staff-Monitored Program

An International Monetary Fund (IMF) mission led by Mr. Domenico Fanizza visited Harare from August 31 to September 11, 2015 to conduct the second review under the 15-month Staff-Monitored Program (SMP) approved by Management in November 2014. The mission reached a staff level agreement on policies for completion of the second review.

Stable growth momentum confirmed in the OECD area but the outlook deteriorates in most major emerging economies

CLI500-09-15.fw__0_0.png
Stable growth momentum in the OECD area

Fundamental rights: MEPs highlight effects of deterring migrants and austerity

The fundamental rights of asylum seekers in the EU could be infringed by reception centre conditions, "hot returns", barbed wire and other deterrence measures, say MEPs in a non-binding resolution voted on Tuesday. The text also states concerns about the impact of austerity measures on EU citizens' economic, civil, social and cultural rights and calls on the European Commission to set up a "scoreboard" to monitor democracy, the rule of law and fundamental rights in EU member states.

Council cuts are unacceptable and inconsistent, say MEPs

The unacceptable cuts proposed by the Council to the EU budget for next year reduce funding for migration, jeopardise research and undermine the EU’s role in the world, said MEPs after the Luxembourg presidency of the Council presented the EU member states’ position on the draft EU budget for 2016 on Tuesday. The EU budget amounts to one per cent of EU gross national income (GNI).

Cloning for food: MEPs vote on plans to ban the practice

Should cloning for food be banned because of animal welfare concerns? On Tuesday 8 September MEPs debate and vote on amendments to a European Commission proposal to ban the cloning of farm animals in the EU. The MEPs in charge of steering the plans through Parliament support the ban, but want to add provisions on the offspring of cloned animals and the marketing of their products coming from countries outside the EU.

New G20/OECD Principles of Corporate Governance will promote trust and improve functioning of financial markets

As part of continuing efforts to promote market confidence and business integrity, G20 Finance Ministers have endorsed a new set of G20/OECD corporate governance principles.

EIB confirms GBP 280 million support for Rolls-Royce during visit to Derby

The European Investment Bank (EIB), has officially agreed to support the research and development of Rolls-Royce aero engines through a GBP 280 million long-term loan. This loan is the largest ever given by Europe’s long-term lending institution to Rolls-Royce for investment in research and development. The EIB-backed loan supports the development of the higher thrust version of the Trent XWB aero-engine.

Lagarde Urges More Global Action to Support Growth and Jobs

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement at the conclusion of the Group of 20 (G20) Finance Minister and Central Bank Governor Meeting in Ankara.

World Bank Board Approves $80m to Accelerate Job Creation in Tanzania

The financing will contribute to the removal of barriers to doing business

The World Bank’s Board of Executive Directors approved a development policy credit of US$80 million towards improving Tanzania’s private sector performance in order to enhance its role in employment creation in the country on September 4.