Finance & Economics | WPN World People News

An International Monetary Fund (IMF) team led by Mr. Christoph Duenwald, the Mission Chief for the West Bank and Gaza, visited East Jerusalem and Ramallah during January 28-February 6, 2014, to assess recent economic developments in the West Bank and Gaza and the financial situation of the Palestinian Authority.

The World Bank Group’s Board of Executive Directors approved a $31.5 million credit from the International Development Association (IDA) for a Telecommunications Sector Reform Project in Myanmar.

Economists are warning of slower economic growth in Thailand while the country is gripped by political unrest. The U.S. ratings agency Fitch warns a prolonged political standoff could have a lasting negative impact on Thailand’s economic performance and financial stability.

The EU should raise anti-dumping tariffs against dumped or subsidized imports from third countries and do much more to help small firms to take advantage of EU measures to combat them, say MEPs in amendments, voted Wednesday, to plans to update EU “trade defence instruments”. MEPs also passed amendments calling for tougher tariffs against environmental or social dumping, and against dumping assisted by third country export subsidies.

“The authorities maintained a stable macroeconomic environment in 2013, despite difficult external developments. The fiscal deficit rose in part because of spending in response to the March flash floods and larger than expected capital spending. Inflation fell to low levels. The challenges in 2014 are to (i) start reducing public debt through a smooth medium-term fiscal consolidation path; (ii) improve the monetary policy transmission mechanism by removing excess reserves; (iii) pursue public sector reforms while protecting the poor; and (iv) address productivity and competitiveness challenges needed to raise medium-term economic growth prospects.

The IMF staff has reached agreement with the Armenian authorities on their request for a 38-month Extended Fund Facility (EFF) arrangement, in support of the economic and financial program of the government and Central Bank of Armenia (CBA) for 2014–17. The agreement also builds on the policy discussions that took place in Yerevan in September and December of last year.

Aquaculture – or fish farming – will provide close to two thirds of global food fish consumption by 2030 as catches from wild capture fisheries level off and demand from an emerging global middle class, especially in China, substantially increases.

Claude Moraes

A report by the U.S. Congressional Budget Office predicts the new health care reform law will shrink the work force by more than 2 million full-time positions.

Italian President Giorgio Napolitano (left) and EP President Martin Schulz