Finance & Economics | WPN World People News

On July 20, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Equatorial Guinea.

On Tuesday, July 21, 2015 the World Bank Group President Jim Kim held a meeting with Nigerian President Muhammadu Buhari at Blair House in Washington, D.C. In the meeting it was indicated that Nigeria has up to USD $2.1 billion of uncommitted resources from the International Development Association(IDA) as well as other support from IBRD, for addressing the development challenges of Nigeria, including in the North East and the North, in particular.

The World Bank is nudging up its 2015 forecast for crude oil prices from $53 in April to $57 per barrel after oil prices rose 17 percent in the Apr-Jun quarter, according to the Bank’s latest Commodity Markets Outlook, a quarterly update on the state of the international commodity markets.

On June 15, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the 2015 discussion on the common policies of member countries of the Eastern Caribbean Currency Union (ECCU).

On July 15, 2015, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Singapore.

As Singapore celebrates its 50th Anniversary this August, its economy continues to deliver strong noninflationary growth will full employment. Growth moderated to 2.9 percent in 2014 from 4.4 percent in 2013, on the back of the slow global recovery, domestic restructuring, and the turning of credit and housing cycles.

Mr. Mitsuhiro Furusawa, Deputy Managing Director of the International Monetary Fund (IMF), made the following statement Tuesday in Asunción:

It is a great pleasure to be in Paraguay for my first visit. I had the privilege to meet President Horacio Cartes and members of his government, including Central Bank Governor Carlos Fernandez, Finance Minister Santiago Peña, Minister of Public Works and Communications Ramon Jiménez Gaona, Minister of Agriculture and Livestock Jorge Gattini, and Planning Minister José Molinas.

The World Bank’s Board of Executive Directors Tuesday approved a new policy governing procurement in projects financed by the Bank. The new Procurement Framework will allow the World Bank to better respond to the needs of client countries, while preserving robust procurement standards throughout Bank-supported projects.

The World Bank Group’s Board of Executive Directors Tuesday discussed and endorsed the 2015-2020 Country Partnership Framework (CPF) for Azerbaijan. This CPF represents a five year joint strategy of the World Bank Group comprising the International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA). It aims at supporting Azerbaijan on its path toward sustainable, inclusive and private sector-led growth.

The Executive Board of the International Monetary Fund (IMF) has concluded the 2015 Article IV consultation with Samoa on June 1.

The Samoan economy is recovering from two natural disasters. A tsunami in September 2009 and a cyclone in December 2012 caused major destruction in agriculture and tourism, the mainstays of the economy, resulting in growth well below the average of the previous decade. The reconstruction effort is estimated to have cost about 40 percent of GDP, aided in part by grants and loans from development partners, including disbursements from the Rapid-Access Component of the IMF’s Exogenous Shock Facility in 2010, and the Rapid Credit Facility in 2013.

Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF), made the following statement on July 20