Finance & Economics | WPN World People News

Money laundering accounted for 2.7% of the world's GDP (an astonishing $1.6 trillion) in 2009, according to the UN. New technologies have made it even easier for criminals such as drug dealers, financial schemers and counterfeiters to launder their dirty money.

A new World Bank report released, suggests major institutional reforms in the Dominican Republic (DR) as a way forward for accelerating poverty reduction and shared prosperity in the country.

“The mission conducted a preliminary assessment of macroeconomic developments in 2013 and the prospects for 2014. Economic activity has been severely affected by the enduring economic and political consequences of the 2012 coup. After having contracted by 1.5 percent in 2012, the economy has yet to recover.

Paraguay enjoyed robust economic growth in the past decade, on the heels of the export commodity boom, and supported by prudent macroeconomic policy implementation. Despite weather-related shocks hitting the key agribusiness sector, the economy has grown at an average rate of 4.7 percent a year since 2003 compared with about 2 percent the previous decade.

Member States must seize the opportunity of this week's ECOFIN to allow real negotiations to begin with Parliament on the single bank resolution mechanism, including the single fund. The lead MEPs have highlighted their key criteria to ministers stressing that these elements would allow for taxpayer protection, a swift and efficient decision making process, and equal treatment of banks.

The Executive Board of the International Monetary Fund (IMF) today completed the third review of Guinea’s economic performance under the program supported by an Extended Credit Facility arrangement (ECF).

Offshore tax evasion remains a serious problem for countries and jurisdictions worldwide, with vast amounts of funds deposited abroad and sheltered from taxation when taxpayers fail to comply with obligations in their home countries.

A BIS-commissioned survey has found that the number of 11-14 year olds thinking about working in engineering has jumped by six per cent. Significantly, the survey showed a six per cent rise in the number of girls saying they would consider an engineering career, an industry that acknowledges the need to recruit more women. More parents (a rise of four per cent) also said they would encourage their children to become engineers.