Finance & Economics | WPN World People News

An International Monetary Fund (IMF) mission visited Amman during September 9–21, 2014 to review Jordan’s economic program, supported by a Stand-By Arrangement (SBA). The discussions with the authorities continued this week during the IMF-World Bank Annual Meetings in Washington, D.C. The 36-month SBA in the amount of SDR 1.364 billion (about US$2 billion, or 800 percent of Jordan’s quota at the IMF) was approved by the Executive Board on August 3, 2012.

Over 3,100 workers made redundant by Peugeot Citroën Automobiles (PSA) in France and crude steel producer Carsid SA Belgium are to get EU aid worth €13.5 million to help them to find or create new jobs. The European Globalisation Adjustment Fund (EGF) aid, approved by Budgets Committee MEPs on Monday, still has to be approved by Parliament as a whole and the Council of Ministers.

The global recovery continues, but is uneven and weaker-than-expected, and downside risks have increased. We are committed to lifting potential growth and to creating a more robust, sustainable, balanced, and job-rich global economy.

EU countries need to do more to put their EU economic policy reform pledges into effect at home, especially in the euro area, urged Economic and Monetary Affairs Committee MEPs on Monday.

Stable growth momentum in the OECD area

During the recent commodity boom, Latin America and the Caribbean proved that growth could be pro-poor and help fuel tremendous social progress. Now as growth slows regionally and beyond, it is critical to consider what will shore up economic activity while ensuring the poor won't stay behind.

Despite weaker than expected global growth and stable or declining commodity prices, African economies continue to expand at a moderately rapid pace, with regional GDP growth projected to strengthen to 5.2 percent yearly in 2015-16 from 4.6 percent in 2014, according to the World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects.

“Rwanda’s recent economic performance has been favorable. Growth in the first half of 2014 rebounded to 6.8 percent. Agriculture output also recovered due to favorable climate conditions. The pick-up in growth was broad-based, including construction, real estate, and services. Consumer price inflation remained low at below 1 percent at end-August, driven by low import and food prices.