Finance & Economics | WPN World People News

On March 19, the World Bank Group’s (WBG) Board of Executive Directors approved a US$100 million loan to support the Paraguayan government’s efforts to strengthen the sustainability, equity and transparency of fiscal management; improve the efficiency of social programs and increase access to financial services among the most vulnerable population.

An International Monetary Fund (IMF) team, led by Ms. Laure Redifer, visited Ouagadougou from March 5-19, 2015 to carry out discussions with the Burkinabè authorities on the second and third reviews of their economic and financial program supported by the Extended Credit Facility (ECF). The ECF arrangement for Burkina Faso was approved by the IMF Executive Board on December 27, 2013.

After three decades of extraordinary economic development, China is shifting to a slower and more sustainable growth path. Further reforms are now needed to ensure that future growth is resilient, inclusive and green, according to the OECD’s latest Economic Survey of China. The OECD forecasts that China’s GDP will grow by 7% this year and 6.9% in 2016.

The World Bank Group’s Board of Executive Directors Thursday approved a US$6 million International Development Association (IDA)* grant for the Union of Comoros to increase access to social safety nets focusing on improving communities’ productive and disaster response capacity as well as child and mother nutrition.

An International Monetary Fund (IMF) mission, led by Mr. Meredith Arnold McIntyre, visited Antigua and Barbuda during March 9-16 to conduct the third Post-Program Monitoring review. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

(From left) Bernd Lange and Cecilia Malmström during the discussion on TTIP

An International Monetary Fund (IMF) team, led by Yasuaki Yoneyama, visited Pohnpei from March 9-20, 2015, to conduct the 2015 Article IV Consultation discussions. The team met with the Secretary of Finance and Administration and other senior officials in the Government and other public agencies and enterprises to discuss recent economic developments in the Federated States of Micronesia and the medium-term outlook. It also met with the private sector.

Martin Schulz welcomed plans for an energy union calling it a “historic project on a par only with the Coal and Steel Community” in a speech at the start of the Council summit on 19 March. The EP President also called for more energy efficiency and diversification of energy suppliers: “Depending on just a few suppliers makes us vulnerable to divide-and-rule tactics and threats of blocking energy supply routes.”

Plans to disburse €1.8 billion in medium-term loans to help Ukraine out of its economic recession were backed by the International Trade Committee on Thursday. The loans will top up financial help from other donors under an economic programme put together by the International Monetary Fund (IMF).