Finance & Economics | WPN World People News

Commission President Jean-Claude Juncker and European Investment Bank President Werner Hoyer unveiled the €315 bn investment plan in a plenary debate with political group leaders

An International Monetary Fund (IMF) mission visited Tbilisi from October 15 to 28, 2014 to conduct discussions on the first review of Georgia’s economic performance under the Stand-By Arrangement (SBA). The 36-month SBA with a total access of SDR100 million (about US$154 million) was approved by the IMF’s Executive Board on July 30, 2014.

A negotiating team led by Alain Lamassoure (EPP, FR) struck a political deal with the Council and the Commission on European Long Term Investment Funds (ELTIFs) on Wednesday evening. These funds should boost non-bank financing for projects that deliver infrastructure, intellectual property or research results which benefit the real economy and society.

An International Monetary Fund (IMF) mission led by Nadeem Ilahi visited Tirana during the period November 17 - 25, 2014 to conduct discussions on the second and third reviews of the arrangement under the Extended Fund Facility (EFF).

Modest global economic forecasts, continuing high unemployment, and downshifts in potential output should spur governments with a greater sense of urgency to fully employ monetary, fiscal and structural policy levers to support growth, notably in Europe, according to the Economic Outlook

An International Monetary Fund (IMF) mission led by Mr. Chris Jarvis visited Cairo from November 11 to 25 to hold discussions for the 2014 Article IV consultation. Discussions focused on economic and financial developments, the outlook, and the authorities’ economic policies and reform plans.

MEPs were disappointed that no deal had been struck with the Council on topping up the EU’s 2014 budget and a new budget for 2015, they said in a debate on Tuesday. They urged EU member states to muster the political will to tackle the ever-growing pile of unpaid bills for 2014. Talks will resume after a new draft budget is presented on 28 November.

Proposals to provide EU funding to help find or create new jobs for workers made redundant by shipbuilders STX Finland Oy and the GAD abattoir in France were approved by the European Parliament on Tuesday. The EU should provide aid worth The European Globalisation Adjustment Fund (EGF) aid worth €2.35 million is expected to be approved by the Council of Ministers on the same day.

Rural infrastructure projects worth one billion pesos (P1.12 billion) are slated for implementation in the Bicol Region under the new Philippine Rural Development Project (PRDP) to be launched this week by President Benigno S. Aquino III.

A new study by the World Bank finds that rice price volatility in Myanmar is the highest among net rice exporting countries in Asia, preventing Myanmar’s rice farmers from earning high profits and keeping many families at or close to poverty income levels.