Finance & Economics | WPN World People News

Malaysia Airlines, the country's money-losing flag carrier, will cut thousands of jobs, trim routes and replace its CEO under plans to return the company to profitability within three years.

An International Monetary Fund (IMF) team visited Grenada during August 18-27, 2014 to conduct discussions on the first review of Grenada’s IMF-supported program under the Extended Credit Facility (ECF). The program was approved on June 26, 2014 for a total amount equivalent to SDR 14.04 million (about US$21.7 million, 120 percent of quota) with SDR 2.04 million disbursed upon program approval. Representatives from the World Bank, Caribbean Development Bank, and Eastern Caribbean Central Bank accompanied the mission.

The Government of India, the Government of Mizoram, and the World Bank signed a $107 million credit agreement for the Mizoram State Roads II – Regional Transport Connectivity Project to improve transport connectivity for the landlocked state of Mizoram and to help open up the potential for regional trade among neighboring countries.

In the Rwanda Economic Update (REU) launched, the World Bank forecasts an economic growth rate of 5.7% in 2014 and 6.6% in 2015.

An International Monetary Fund (IMF) team visited Grenada during August 18-27, 2014 to conduct discussions on the first review of Grenada’s IMF-supported program under the Extended Credit Facility (ECF). The program was approved on June 26, 2014 for a total amount equivalent to SDR 14.04 million (about US$21.7 million, 120 percent of quota) with SDR 2.04 million disbursed upon program approval. Representatives from the World Bank, Caribbean Development Bank, and Eastern Caribbean Central Bank accompanied the mission.

The long international history of attracting private capital to the railway sector may offer some valuable insights to China. A new paper published by the World Bank has suggested five steps that China could take to attract private capital for railway development.

Gross domestic product
Percentage change on the previous quarter, seasonally adjusted data

*Data are based on SNA 2008 / ESA 2010 methodology.
Note: Growth rate presented in this chart are based on data with more than one decimal.

On August 25, 2014, the Executive Board of the International Monetary Fund (IMF) completed the fifth review of Burundi’s economic performance under a three-year program supported by the IMF’s Extended Credit Facility (ECF) arrangement, and also concluded the 2014 Article IV Consultation1 with Burundi.

An International Monetary Fund (IMF) mission visited Jamaica during August 13-22, 2014 to conduct discussions on the fifth review of Jamaica’s IMF-supported program under the Extended Fund Facility (EFF). The mission met with the Minister of Finance and Planning, Dr. the Hon. Peter Phillips, Bank of Jamaica Governor Brian Wynter, Financial Secretary Devon Rowe, senior government officials, as well as representatives of the private sector and civil society.

Egypt is joining the new economic paradigm emerging under the leadership of the BRICS countries—Brazil, Russia, India, China, and South Africa. Egyptian President and former Army commander Abdel Fattah al-Sisi, who was elected in June, is moving in the spirit of his famous predecessor, Egyptian President Gamal Abdel Nasser (1918-70), who was a founder of the Non-Aligned Movement.