Finance & Economics | WPN World People News

Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Nicosia during January 29-February 11, 2014 for the third review of Cyprus's economic program, which is supported by financial assistance from the European Stability Mechanism (ESM) and the IMF.

Extreme volatility during the global financial crisis complicated economic forecasting, leading to large errors that underline the need for better modelling methods and new approaches for making and presenting projections, according to an OECD report.

Switzerland provided USD 3 billion in official development assistance (ODA) in 2012, or 0.45% of its gross national income (GNI), in line with its goal to reach 0.5% of GNI by 2015.

Firms or citizens recovering debts across EU borders could be able to get the debtor's bank account frozen under a draft law agreed with Council and endorsed by legal affairs MEPs on Tuesday. The European Account Preservation Order (EAPO) should be quicker and cheaper to use than national proceedings. The EP amended the proposal to prevent abuse and safeguard alleged debtors.

Mental health issues cost the UK around GBP 70 billion every year, or roughly 4.5% of GDP, in lost productivity at work, benefit payments and health care expenditure. Better policies and practices by employers and the health system are needed to help people deal with mental health issues and get back to work, according to a new OECD report.

“The mission made progress in the discussions with the Mauritanian authorities on the macroeconomic performance, economic policies and possible future financial support from the IMF.

Good macroeconomic performance and active social policies since the mid-2000s have helped Bolivia to nearly triple income per capita and reduce poverty. In recent years, the economy benefitted from high international commodity prices and rising volumes of natural gas exports. Coupled with twin surpluses in the fiscal and external accounts, net international reserves have increased to almost 50 percent of gross domestic product (GDP), providing ample buffers against external shocks. Social policies have pursued ambitious redistributive and poverty reduction goals, increasing living standards of vulnerable households.

The World Bank’s Board of Executive Directors approved US$2 million for the Public Sector Modernization Project (PSMP) to support the ongoing strengthening of the government’s institutional capacity for public sector management.

The government of Bangladesh signed two financing agreements totaling $535 million with the International Development Association (IDA), the World Bank’s concessional arm: $410 million for the Municipal Governance and Services Project and $125 million in additional financing for the ongoing Higher Education Quality Enhancement Project.

The Passerelle Mimram/Mimram-Brücke straddling the river Rhine at Strasbourg is one of the bridges joining two border regions that were once bitterly divided. Before the Alsace region was the stage for a series of bloody battles between France and Germany over who could rule this region. The guns have now fallen silent and locals are more than content to sample the best of what both countries have to offer in terms of employment, housing and education.