Finance & Economics | WPN World People News

Tax-to-GDP ratios increased in the majority of Asian and Pacific economies covered by a new OECD report published on July 24. Nine of the economies in the publication increased their tax-to-GDP ratios between 2016 and 2017, compared with only three in the preceding year, according to Revenue Statistics in Asian and Pacific Economies 2019.

Afghanistan’s economy grew by around two percent in 2018 despite progress in economic policies, likely leading to further increases in poverty and deterioration in living standards, according to the World Bank’s recent Afghanistan Development Update.

The World Bank Group mobilized over $14.4 billion in lending and guarantees to support sustainable development and poverty reduction in Latin American and the Caribbean during the 2019 fiscal year ending June 30.

More than 90,000 residents of rural areas in the State of Ceará was benefit from a new program approved by the World Bank Board of Directors, on July 18. The US$ 100 million Ceará Rural Sustainable and Competitiveness project (Phase II) will finance investments to help local farmers expand access to markets and adopt climate resilient approaches. The initiative will also improve access to water and sanitation services.

The World Bank responded to strong demand from the Middle East and North Africa Region (MENA) during the financial year that ended on June 30th, 2019, with US$5.47 billion in new commitments to invest in people, expand the private sector, and set a course for digital transformation, in addition to helping MENA countries and the region continue on the path of stability and inclusive growth. Along with the financial commitments, the Bank delivered a wide range of analytical products in support of development goals of MENA countries.

The Executive Board of the International Monetary Fund (IMF) approved on July 15 an SDR 149.88 million (about US$207.5million) Stand-By Arrangement (SBA) and an SDR 74.94 million (about US$103.8 million) arrangement under the Standby Credit Facility (SCF) for Honduras for a combined SDR 224.82 million (about US$311.3 million or 90 percent of Honduras’ quota).

Zambia’s path to economic recovery remains weak, reflecting both exogenous and policy uncertainties, says the latest World Bank’s Economic Brief on Zambia, titled: Wealth Beyond Mining: Leveraging Renewable Natural Capital.

Local school children eat their meals at the Ban Bor Primary School in Xay District, Lao People's Democratic Republic.

Members of the OECD’s Development Assistance Committee (DAC) – 29 donor countries and the EU – agreed on a comprehensive set of recommendations aimed at preventing sexual exploitation, abuse and harassment in the aid sector.