Finance & Economics | WPN World People News

Iceland has steadily recovered from the global financial crisis, with economic activity above pre-crisis levels and a number of other visible signs of normalisation, including falling unemployment, improved public finances and stronger household finances. However, critical post-crisis challenges still need to be addressed, notably the orderly unwinding of capital controls and the risk that wage settlements will push up inflation, according to the latest OECD Economic Survey of Iceland.

The 2018 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group will take place in Bali Nusa Dua, Indonesia, in October 2018, following a vote by the Boards of Governors of the two institutions.

A man holds the hands of his granddaughters near the remnants of the residential towers where the girls used to live, in the city of Beit Lahia, in the northern Gaza Strip.

The Executive Board of the International Monetary Fund (IMF) Monday completed the first review of Ghana’s economic performance under the program supported by an Extended Credit Facility (ECF) arrangement. Completion of the review enables the disbursement of SDR 83.025 million (about US$116.6 million), bringing total disbursements under the arrangement to SDR 166.05 million (about US$233.1 million).

The International Monetary Fund (IMF) in collaboration with the Government of St. Kitts and Nevis will hold a high-level Forum on “Financing Growth” in the Caribbean on September 3-4, 2015 in Frigate Bay, Saint Kitts.

The European Central Bank (ECB) has published the December-2014 Consolidated Banking Data (CBD), a data set of the EU banking system on a consolidated basis. In comparison to the previous releases, the Consolidated Banking Data published today are significantly enhanced, drawing on the substantial increase in the availability and extent of harmonised supervisory data from across the EU. This has been possible due to the entry into force of the European Banking Authority’s Implementing Technical Standards on Supervisory Reporting (ITS). In particular, the indicators on asset quality have largely been replaced by new data based on a harmonised definition of non-performing loans as well as key items on forbearance. New statistics are also provided to measure liquidity, funding and encumbered assets.

Werner Hoyer, President of the EIB, announced at the Western Balkans Summit in Vienna a number of projects which the EU Bank is ready to finance in the near future, including the “Rail Route 10” within Kosovo*. Further operations envisaged by the EU Bank include the Trans-Adriatic Pipeline (TAP-project), where EIB launched the initial appraisal. The TAP-project will help diversify gas supply to the European Union and provide an opportunity to develop the use of gas as source of energy in the Western Balkans.

Latvia should step up its efforts to improve the employment prospects of young people by continuing to reform its vocational education system and pursuing the commitments made as part of the Youth Guarantee to further reduce the share of young people under 30 who are not in employment, education or training (NEETs).

A review to improve the effectiveness of rules designed to prevent money laundering and terrorist financing has been launched on 28 August 2015 as part of UK’s Cutting Red Tape review programme.