Finance & Economics | WPN World People News

On July 26, 2019, the Executive Board of the International Monetary Fund (IMF) completed the third review of Guinea’s economic performance under the program supported by an Extended Credit Facility (ECF). Completion of this review enables the immediate disbursement of SDR 17.213 million (about US$23.9 million), bringing total disbursements under the arrangement to SDR 68.849 million (about US$95.7 million).

The World Bank Group has started national consultations to map out its strategy in Fiji for the next four years for work to be undertaken by the World Bank and its sister organisation, the International Finance Corporation, IFC.

On July 26, the Executive Board of the International Monetary Fund (IMF) completed the fifth review under the Extended Credit Facility (ECF) Arrangement for Madagascar. The completion of this review enables the disbursement of SDR 31.428 million (about US$43.7 million), bringing total disbursements under the arrangement to SDR 219.12 million (about US$304.5 million).

The economy of Papua New Guinea (PNG) has begun recovering from a series of external shocks, but global economic uncertainties are mounting, according to a report released by the World Bank on July 26.

On July 19, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Iraq.

An improved security situation and the recovery in oil prices have improved near-term vulnerabilities. Large fiscal and current account surpluses—around 8 and 6 percent of GDP, respectively—were recorded in 2018, allowing the government to retire domestic debt and accumulate fiscal buffers. Gross international reserves reached $65 billion by end-2018.

On July 24, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fifth and final review of Egypt’s economic reform program supported by an arrangement under the Extended Fund Facility (EFF). The completion of the review allows the authorities to draw the equivalent of SDR 1,432.76 million (about US$2 billion).

On Jul 24, 2019, the Executive Board of the International Monetary Fund (IMF) approved the equivalent of SDR 8.9 million (US$12.3 million) in financial assistance to the Union of Comoros, with one-third (US$4.1 million) to be drawn under the Rapid Credit Facility and two-thirds (US$8.2 million) to be drawn under the Rapid Financing Instrument.

A workshop on corporate governance practices for the shareholders, board members, and management of financial institutions was launched in Dushanbe by Jamoliddin Nuraliev, the First Deputy Chairman of the National Bank of Tajikistan (NBT) and Jan-Peter Olters, Country Manager for the World Bank in Tajikistan, on July 25.

Financial incentives linked to education help Eswatini to find an innovative way of preventing HIV infections and pregnancy among adolescent girls and young women (AGYW) in a country with one of the highest HIV prevalence globally, and one of the highest rates of new infections.

Malaysia’s economic performance has been very successful, but public policy can do more to address social and governance challenges while making growth stronger, greener and more inclusive, according to a new report from the OECD.