Finance & Economics | WPN World People News

The Executive Board of the International Monetary Fund (IMF) completed the sixth review of Benin’s economic performance under a program supported by the Extended Credit Facility (ECF) arrangement. The Board's decision, which was taken without a formal meeting and enters into effect, enables the immediate disbursement of an amount equivalent to SDR 10.61 million (about US$-16.4 million), bringing total disbursements under the arrangement to an amount equivalent to SDR 74.28 million (about US$114.5 million).

With a civil war raging in neighboring Syria, Lebanese security forces are busy guarding the country's borders. In the past three years, there have not been enough troops for regular raids on illegal crop farmers. As a result, cannabis farms have flourished in the fertile Bekaa Valley in east Lebanon, with the cannabis plant squeezing out less lucrative wheat, barley and vegetable crops.

The IMF has published a Fiscal Transparency Evaluation (FTE) report for Russia, which was carried out at the request of the Government of the Russian Federation by a joint team from the Fund’s Fiscal Affairs and Statistics Departments that visited Moscow in October 2013.

The end of foreign sanctions and the opening up of Myanmar has benefitted millions of children paving the way for greater progress, however they have also led to higher operational costs for UN agencies and other aid organizations.

South East Europe’s (SEE6 are Albania, Bosnia and Herzegovina, Kosovo, Former Yugoslav Republic of Macedonia, Montenegro, and Serbia. ) economy began recovering from the 2012 recession, growing by 2.2 percent on average in 2013, according to the World Bank’s latest South East Europe Regular Economic Report (SEE RER).

Administration, are escalating day by day, as the May 25 date of the election in Ukraine approaches. But, despite the pile-up of sanctions, continuous NATO exercises, and the deployment of U.S. Aegis-equipped destroyers into the Black Sea, President Putin has persisted in a policy of de-escalation and diplomacy, seeking dialogue with the Europeans and the U.S., if at all possible.

Countries of the world should confront climate change squarely as part of the global efforts to end poverty and boost prosperity. It’s a challenge that needs collective action by national governments, development partners, private sector, civil society, and local communities.

The World Bank launched a new report, “Turkey Country Economic Memorandum: Trading up to High Income”, at a conference held in Ankara in partnership with the Ministry of Economy and the Undersecretariat of Treasury.

The World Bank Board of Executive Directors approved a loan of $35 million to the People’s Republic of China to support government’s policymaking and strengthen capacity to implement priority reform areas.

The Czech Republic has made significant progress towards creating a stable and attractive climate for investment, but more could be done to tackle long-term and youth unemployment through integrated actions across employment, skills and economic development policies at the local level, according to a new OECD report.