Finance & Economics | WPN World People News

The Executive Board of the International Monetary Fund (IMF) approved a new three-year Policy Support Instrument (PSI) for Tanzania.1 The IMF recently concluded the final review of the country’s economic performance under a Standby Credit Facility (SCF) arrangement, together with the Article IV consultation with Tanzania on April 25, 2014. The SCF expired oInternational Monetary Fundn April 30, 2014.

The World Bank’s Board of Executive Directors approved a total of US$25 million for the Government of Mozambique (GoM)’s First Programmatic Financial Sector Development Policy Operation (DPO).

Lithuania should join the euro on 1 January 2015, recommends the European Parliament in a resolution voted on Wednesday. This vote is in line with a European Commission recommendation and political backing from EU heads of state or government at the June EU Council summit.

The World Bank Board of Executive Directors approved a US$92.1 million IDA* grant to support the fifth phase of the Central African Backbone Program (CAB Program) for the Democratic Republic of Congo (DRC). This project will allow the country to access the fastest, most modern means of telecommunications at much lower prices by linking DRC’s main economic clusters to each other, and to regional and global networks through neighboring countries.

The EU must stop rolling over its growing portfolio of unpaid bills from one year to the next, said MEPs in Wednesday’s debate on the alarming shortage of funds for payments due in 2014. Unless a satisfactory solution is found, programmes such as Erasmus+, research projects and humanitarian aid to Syrian refugees will get stuck, new ones will be grounded and beneficiaries will have to wait for money they worked for, warned the Commission and many MEPs.

A mission from the International Monetary Fund (IMF), led by Mr. Amine Mati, visited Tunis during June 10–24, 2014 to conduct discussions on the fourth review of Tunisia’s economic performance under the 24-month Stand-By Arrangement (SBA) approved by the IMF Executive Board on June 7, 2013. The mission held productive discussions with senior government and central bank officials. It also met with representatives of the banking and private sectors, trade unions, parliamentarians, the donor community, and civil society.

A team from the International Monetary Fund (IMF), led by Mr. Tsidi Tsikata, visited Lilongwe from July 7 to 15, 2014 to review recent economic developments, discuss the Government’s policy priorities, and assist with the development of the broad parameters of the Fiscal Year 2014/15 budget. The mission also took stock of program implementation under Malawi’s current Extended Credit Facility arrangement.

An International Monetary Fund (IMF) mission led by Ricardo Velloso, visited Luanda from July 1–14, 2014, to conduct discussions for the 2014 Article IV consultation.

The way out of debt is through growth, not spending; European Central Bank President Margo Draghi told Economic and Monetary Affairs Committee MEPs on Monday evening, in the first Monetary Dialogue session since the European elections. The ECB will support lending to the real economy and lower taxes provided they are accompanied by structural reforms and efforts to complete the EU single market, he added.

The Executive Board of the International Monetary Fund (IMF) on July 11 completed the ninth and final review of St. Kitts and Nevis’ economic performance under a program supported by a 36-month Stand-By Arrangement (SBA).