Finance & Economics | WPN World People News

On June 5, 2015, the Executive Board of the International Monetary Fund (IMF) approved financial support for Vanuatu as it rebuilds its economy after a devastating cyclone hit the country last March. The Board approved a disbursement of the equivalent of SDR8.5 million (about US$11.9 million or 50 percent of quota) under the Rapid Credit Facility (RCF) and a purchase in the equivalent of SDR8.5 million under the Rapid Financing Instrument (RFI).

While the Greek crisis is coming to a head, maybe this week, but certainly in the remaining weeks of June, the idea of a unified European Union (EU) has become as full of holes as the proverbial swiss cheese. As this article is being published, ultimatums are flying.

Implementing the WTO Trade Facilitation Agreement (TFA) could reduce worldwide trade costs by anywhere from 12.5% to 17.5%, according to new OECD analysis, with the greatest benefits accruing in developing countries.

OECD ministers have closed two days of discussions on how to unlock investment in order to promote strong, green and inclusive growth, boost productivity and create jobs.

African economies’ prospects for long-term, sustainable growth are under threat from weakness in the core conditions necessary for competitive and productive economies, despite outwardly healthy-looking growth rates in many parts of the region, according to the African Competitiveness Report, which is published on June 4.

OECD Ministers have endorsed updated guidelines to help national governments and regional groups create the right conditions to attract domestic and foreign investment.

An International Monetary Fund (IMF) mission, led by Mr. Zeine Zeidane, visited the United Arab Emirates (UAE) from May 24 to June 4, 2015 for the annual Article IV discussions. The consultation will conclude with the preparation of a report that, subject to management approval, will be discussed by the IMF Executive Board tentatively scheduled for July 2015.

A team from the International Monetary Fund (IMF), led by Mr. Mauro Mecagni, visited Kenya from May 20−June 2, 2015 to conduct discussions on the first review under the precautionary Stand-By Arrangement and an arrangement under the Stand-By Credit Facility (SBA/SCF).

Implementing the WTO Trade Facilitation Agreement (TFA) could reduce worldwide trade costs by anywhere from 12.5% to 17.5%, according to new OECD analysis, with the greatest benefits accruing in developing countries.