Finance & Economics | WPN World People News

The Federal Democratic Republic of Ethiopia has implemented the recommendations of the IMF’s Enhanced General Data Dissemination System (e-GDDS) by publishing critical data through the National Summary Data Page (NSDP). The page aims to serve as a one-stop publication vehicle for essential macroeconomic data on the national accounts, government operations and debt, monetary and financial sector, and the balance of payments. These data will be disseminated in both human and machine-readable formats. The e‑GDDS was established by the IMF’s Executive Board in May 2015 to support improved data transparency, encourage statistical development, and help create synergies between data dissemination and policymaking.

On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Zambia.

Zambia’s development strategy has focused on a rapid-scaling up of public investment to address the country’s infrastructure needs.

The World Bank and the State Bank of Vietnam, on August 2, signed a financing agreement for a grant worth US$4.2 million provided by the Japanese Government to implement the Revenue Administration Reform Support Project.

The Working Group is concerned that Hungary has not commenced any foreign bribery investigations or prosecutions in over nine years since the Phase 3 evaluation of implementation of the OECD Anti-Bribery Convention. However, the companies operating in the country have significant exposure to export-related risks of the bribery of foreign public officials. This includes foreign subsidiaries of multinational enterprises (MNEs) that use Hungary as a manufacturing base and re-export goods to other markets. To avoid Hungary becoming a safe harbour for MNEs with subsidiaries in Hungary that commit bribery abroad, the authorities must overcome their reluctance to enforce relevant criminal legal provisions and assign responsibility to detect and investigate such bribery.

On July 22, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the 2019 Article IV consultation with Somalia.

Improved confidence, on the back of the continued implementation of reforms, and strong donor support continue to support economic activity, especially in the telecom, trade, construction, and financial sectors. However, poor rainfall in Spring weighs on the outlook and threatens food security.

Africa’s poorest countries saw little to no progress on average in improving the quality of their policy and institutional frameworks in 2018, according to the World Bank’s annual Country Policy and Institutional Assessment (CPIA) released on July 31.

On July 3, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Indonesia.

The Indonesian economy performed well in 2018, despite external headwinds, including capital flow reversals. Growth stabilized at above 5 percent, as robust domestic demand offset a decline in net exports.

The World Bank’s Board of Directors, on July 30, approved US$100 million in financing to help Mongolia further stabilize its economy and move it towards a more sustainable development path. The Second Economic Management Support Operation (EMSO 2) follows on EMSO 1 approved in November 2017, and supports policy reforms aimed at restoring debt sustainability, strengthening the social protection system, and enhancing competitiveness.

On July 30, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Lithuania and considered and endorsed the staff appraisal without a meeting.