Finance & Economics | WPN World People News

A new report by the World Bank analyzing Malawi’s economic development shows that the country’s economy continues to grow at a moderate pace and that GDP will not be overly affected by the floods that hit the country early this year. The economy is however characterized by macroeconomic instability and barriers to trade which Government needs to act on to improve growth prospects.

On April 10, 2015, the Executive Board of the International Monetary Fund (IMF) completed the fourth review of the Solomon Islands’ economic performance under the Extended Credit Facility (ECF) arrangement.

Military groups in conflict areas such as in the Democratic Republic of the Congo often use the sale of minerals found in their territory to fund their activities. A new EU proposal aims to put an end to this by setting up an EU system of self-certification to encourage importers, smelters and refiners to source their minerals responsibly. The Parliament's international trade committee will vote on the plans on Tuesday 14 April.

MEPs have another busy week ahead of them.

Economic growth will ease slightly in developing countries in East Asia and Pacific this year, even as the region benefits from lower oil prices and a continued economic recovery in developed economies, according to the East Asia Pacific Economic Update released by the World Bank on April 13.

On the eve of the Seventh Summit of the Americas, the main international financial institutions of the region, the World Bank Group (WBG), the Inter-American Development Bank (IDB) and CAF – Development Bank of Latin America, on April 10 reiterated their commitment to support countries in the region in their efforts to preserve and expand the economic and social gains of the last decade, at a time when the external factors that contributed to those gains have changed.

A new US$50 million assistance package to Jordan will enhance access to finance for micro, small and medium enterprises (MSMEs). The project approved by the World Bank’s Board of Directors will reach out to underserved governorates and marginalized segments of society and increase financing for start-up businesses on April 10.

While credit terms, in particular price terms such as financing rates/spreads, offered to counterparties across the entire spectrum of securities and OTC derivatives transaction types overall became somewhat less favourable over the three-month reference period ending in February 2015, the survey results show a relatively wide dispersion of answers related to where survey respondents are domiciled. In fact, the overall net tightening of offered prices is almost entirely driven by banks domiciled outside the euro area.

A new World Bank project will provide income support and expand social inclusion to almost 1.5 million poor Egyptian families with young children, elderly, and persons with severe disabilities. The US$400 million project approved by the World Bank’s Board of Directors will support the Government of Egypt’s newly established Takaful and Karama national targeted social safety net program, develop transparent and efficient targeting and delivery systems, and support the Unified National Registry on April 10.

Secretary-General Ban Ki-moon (fourth right) meets with the Presidents of the Northern Triangle countries in Panama City, Panama.