Finance & Economics | WPN World People News

MEPs have another busy week ahead of them

The Executive Board of the International Monetary Fund (IMF) completed the first and second reviews of Mali’s performance under an economic program supported by a three-year Extended Credit Facility (ECF) arrangement. The Board’s decision enables the immediate disbursement of SDR 8 million (about US$11.7 million), bringing total disbursements under the arrangement to SDR 14 million (about US$ 20.5 million).

"Africa is able not only to transform the lives of a billion citizens, but to improve those of millions of people throughout the world ! said Co-President of the ACP-EU Joint Parliamentary Assembly (JPA) at the opening its 28th session in Strasbourg on 1 December.

The European Commission has adopted a new draft EU budget for 2015 after negotiations between the European Parliament and the Council (the EU Member States) did not result in an agreement at the end of the budgetary conciliation period on 17 November. The new draft budget for 2015 foresees €145.2 billion in commitments (+1.8% on 2014) and €141.3 billion in payments (+0.7% on 2014). The proposal has been transmitted to the European Parliament and the Council and with a view to continuing negotiations early next week.

The great projects of the BRICS countries today—girdling six continents with high-speed railroads, mining the Moon, and breaking through to thermonuclear fusion power by 2030—are precisely the kind of "missions" with which John F. Kennedy challenged and led Americans during his brief Presidency. Add the task of defending the Earth from asteroid and great meteorite strikes, and the combined mission would have been big enough for JFK.

The European Parliament called on EU member states and the European Commission to break down barriers to the growth of the EU's digital single market in a resolution voted on Thursday. MEPs also stressed the need to prevent online companies from abusing dominant positions by enforcing EU competition rules and unbundling search engines from other commercial services.

Systemic stress among euro area banks and sovereigns declined further to levels last seen before the onset of the global financial crisis in 2007, according to the latest Financial Stability Review of the European Central Bank (ECB) released.

Euro area annual inflation is expected to be 0.3% in November 2014, down from 0.4% in October, according to a flash estimate from Eurostat, the statistical office of the European Union.

Merchandise trade in US$ billion
Seasonally adjusted data at current prices and exchange rates

The World Bank said that it will provide $1.2 billion to support infrastructure development and improve the competitiveness of the East African Community (EAC) states.