Finance & Economics | WPN World People News

An International Monetary Fund (IMF) staff mission, led by Mr. Jeffrey Franks, visited Dubai from October 29-November 8, 2014 to conduct discussions on the fourth and fifth reviews of Pakistan’s SDR 4.393 billion (about US$6.6 billion) Extended Fund Facility (EFF), approved by the IMF’s Executive Board on September 4, 2013. The mission met with Finance Minister Ishaq Dar, State Bank of Pakistan (SBP) Governor Ashraf Wathra, and other senior officials.

Brazilians delivered a stinging defeat to the British Empire, by re-electing Dilma Rousseff as President on Oct. 26. Rousseff has made clear, that under her leadership, Brazil will continue its active participation in advancing the new world financial and security architecture coming together around the BRICS grouping (Brazil, Russia, India, China, and South Africa) and its growing list of allies.

Herman Van Rompuy.

As was the case last year, the Governing Council of the European Central Bank (ECB) has decided to suspend repayments of the three-year longer-term refinancing operations (LTROs) during the year-end period, in view of the expected low interest and the concentration of other operations owing to public holidays.

Chinese President Xi Jinping says that while China's economy faces challenges, they are not as scary as some may think. In an address to world business leaders Sunday, Xi also called for more progress on a regional free trade agreement and highlighted China’s plans to set up a $40 billion fund for infrastructure development in the region.