Finance & Economics | WPN World People News

OECD Harmonised Unemployment Rates, s.a.

MELBOURNE – A large and persistent shortfall in the number and quality of the jobs being created in G20 countries is affecting prospects for re-igniting economic growth, according to a report prepared by the ILO, the OECD and the World Bank Group for the G20 Labour and Employment Ministers meeting taking place in Melbourne this week.

World Bank Regional Vice President for the Middle East and North Africa, Inger Andersen confirmed that the economic reforms launched following the 2011 revolution are beginning to yield results for Tunisians. Speaking at the “Invest in Tunisia: Start-up Democracy” conference organized by the Tunisian authorities with support from the French Government, the World Bank Vice President encouraged the interim government to accelerate the momentum for reforms to attract investments needed to bolster economic recovery and job creation.

The World Bank Group’s (WBG) Executive Directors discussed a new Country Partnership Strategy (CPS) for Argentina covering fiscal years 2015-2018. Executive Directors broadly endorsed the strategy’s overall goals designed to sustain social gains and expand social inclusion in Argentina.

Stable growth momentum in the OECD area

The EU's response to the crisis in Ukraine was in the spotlight at Parliament this week, following President Schulz's warning to EU leaders last Saturday of the dangers of escalation and his plea for a political solution to the crisis. He called on the EU to play a more ambitious international role and said it must give Ukraine the financial and political help needed to remain a unified and independent country.

U.S. Vice President Joe Biden says there have been 54 straight months of job creation; the longest streak of uninterrupted job growth in U.S. history.

Recently the World Bank’s Board of Executive Directors approved a grant of US$5.1 million from the Global Environment Facility (GEF) to the People’s Republic of China in support of the Climate Smart Staple Crop Production Project.