Finance & Economics | WPN World People News

The World Bank’s Board of Executive Directors approved an additional International Development Association (IDA)* credit of US$75 million to improve the livelihoods and resilience of pastoralists in the Horn of Africa.

Growth boosted by increased household and public savings can help the Polish economy stay on a path of sustained long-term economic development, says a new World Bank report, Poland Country Economic Memorandum (CEM): Saving for Growth and Prosperous Aging. Recent economic trends in advanced and emerging economies point to a lukewarm growth outlook. Against the backdrop of rapidly aging populations and slowing productivity growth, Poland too wrestles with the challenge of revisiting its growth model.

China's economy expanded by just 7.3 percent in the third quarter from a year earlier, the slowest growth since early 2009 for the world's second-largest economy.

Eider Gardiazábal

“The strong growth trends of recent years in the sub-Saharan Africa region are expected to continue. The region’s economy is forecast to continue growing at a fast clip, expanding by about 5 percent in 2014, the same level as in 2013, and accelerating to around 5¾ percent in 2015, underpinned by continued public investment in infrastructure, buoyant services sectors, and strong agricultural production. This growth momentum is particularly pronounced in the region’s Low-Income Countries, where activity is forecast to accelerate to 6¾-7 percent in 2014-15.

The ECB neither provides nor approves emergency liquidity assistance. It is the national central bank, in this case the Central Bank of Cyprus, that provides ELA to an institution that it judges to be solvent at its own risks and under its own terms and conditions. The ECB can object on monetary policy grounds; in order to do so at least two thirds of the Governing Council must see the provision of emergency liquidity as interfering with the tasks and objectives of euro area monetary policy.

“Many austerity and fiscal consolidation programmes were implemented without prior consultation with social partners and are not in conformity with the European Social Charter, nor the Charter of Fundamental Rights of the European Union,” the PACE Sub-Committee participating in the High-level Conference on the European Social Charter in Turin stressed.

The European Central Bank (ECB) is publishing the results of the “Euro Money Market Survey 2014”, which highlights the main developments in the euro money market in the second quarter of 2014, comparing them with those in the second quarter of 2013.

Full implementation of the structural reforms adopted and announced in France would boost potential annual economic growth by one third, or 0.4 percentage points per year over ten years, according to the OECD.