Finance & Economics | WPN World People News

The Executive Board of the International Monetary Fund (IMF) completed the first review of Sierra Leone’s economic program under a three-year arrangement under the Extended Credit Facility (ECF) for Sierra Leone. The completion of the review enables the disbursement of an amount equivalent to SDR 8.89 million (about US$13.69 million), bringing the total disbursements under the arrangement to SDR 17.78 million (about US$27.39 million). The decision was taken without a formal Board meeting.

The World Bank Group’s Board of Executive Directors has approved support for Malawi that will help the country to equip young people with the skills needed for jobs in high-priority sectors in the country’s steadily growing economy. These include engineering, natural resources extraction, agriculture, construction, health services, tourism and hospitality.

Responsible business conduct is crucial for open and stable international investment climates. OECD Secretary-General Ángel Gurría will open the 2014 OECD Global Forum on Responsible Business Conduct on 26-27 June 2014, together with Dutch Minister for Foreign Trade and Development Co-operation Lilianne Ploumen and French Minister for Finance and Public Accounts Michel Sapin.

The World Bank’s Board of Executive Directors approved a US$495.3 million International Development Association (IDA*) credit to improve farmers’ access to irrigation and drainage services, strengthen institutional arrangements for integrated water resources management and improve delivery of agricultural services in selected, large-scale public schemes in northern Nigeria.

Sustained work towards a new universal climate agreement, regulations to limit the risk of financial crashes and continued attention to the economic impacts of migration are among the recommendations made by the OSCE Parliamentary Assembly’s Committee on Economic Affairs, Science, Technology and Environment (Second Committee) in its draft resolution for the PA’s upcoming Annual Session.

The International Monetary Fund (IMF) released revised results from its Coordinated Direct Investment Survey (CDIS), the Fund’s worldwide survey of bilateral direct investment positions.

On June 13, 2014, the Executive Board of the International Monetary Fund (IMF) concluded the First Post-Program Monitoring with Ireland.

The Executive Board of the International Monetary Fund (IMF) approved emergency financial assistance under the Rapid Credit Facility (RCF) in the equivalent of SDR 30.55 million (about US$47.1 million) for Madagascar to enable the authorities meet their urgent balance of payment needs.

Andorra has become the 48th signatory to an OECD Declaration that commits countries to end bank secrecy for tax purposes.

The World Bank’s Board of Executive Directors approved a US$31 million Kosovo Energy Efficiency and Renewable Energy Project that aims to reduce energy consumption and fossil fuel use in public buildings. Through these investments, the Bank is supporting Kosovo in implementing a comprehensive energy strategy, and enhancing the policy and regulatory environment for renewable energy and energy efficiency.