Finance & Economics | WPN World People News

Japan must step up enforcement of its foreign bribery laws and strengthen the capacities of its law enforcement agencies to proactively detect, investigate and prosecute the foreign bribery offence, according to a new report by the OECD Working Group on Bribery.

To learn about the development experience of the Regione Emilia Romagna in Italy and how this experience can benefit the economic development of Slavonia, Baranja and Srijem, the Minister of Regional Development and EU funds, H.E. Gabrijela Žalac, and the World Bank Country Manager for Croatia, Elisabetta Capannelli, hosted a high-level conference gathering experts and stakeholders of the Project Slavonia, Baranja and Srijem.

On July 3, 2019, the Executive Board of the International Monetary Fund (IMF) completed the fourth review of Chad’s economic and financial program supported by an Extended Credit Facility (ECF) arrangement. Completion of the review enables the disbursement of SDR 28.04 million (about US$38.9 million), bringing total disbursements under the arrangement to SDR 168.24 million (about US$233.1 million).

On July 3, 2019, the Executive Board of the International Monetary Fund (IMF) approved a 39-month extended arrangement under the Extended Fund Facility (EFF) for Pakistan for an amount of SDR 4,268 million (about US$6 billion or 210 percent of quota) to support the authorities’ economic reform program.

Ghana is to transform and diversify its economy by promoting private investment and firm growth in the non-resource base sectors through an integrated program to build the country’s competitiveness and deliver sustainable jobs under the Ghana Economic Transformation Project (GETP).

On June 7, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Oman.

Since the 2014 oil price shock, Oman’s policy efforts have aimed at strengthening the fiscal position, enhancing private sector-led growth and employment, and encouraging diversification.

On June 12, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Grenada.

The Grenadian economy continues to grow robustly. GDP expanded by 4¼ percent in 2018, driven by strong activity in construction and tourism. Unemployment has been falling, but it remains high at 21.7 percent as of mid-2018.

On July 1, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Second Post-Program Monitoring review for Albania and considered and endorsed the Staff Appraisal on a lapse-of-time basis. 1 Albania’s capacity to repay the Fund is adequate reflecting a strong record of repaying the Fund, relative macroeconomic stability, and progress in reforms.

Local producers and tens of thousands of Samoan families will benefit from improved management and productivity in Samoa’s agriculture and fisheries sectors through a US$20 million grant approved by the World Bank’s Board of Executive Directors, on July 2.