Finance & Economics | WPN World People News

The legislation that President Barack Obama signed Jan. 2 that postponed the fiscal cliff means changes to military and civilian paychecks, U.S. Defense Finance and Accounting Service officials said.

U.S. President Barack Obama says he has kept his promise to America by working with Congress to change a tax code that he says too often benefited the wealthy at the expense of the middle class.

The International Monetary Fund (IMF) welcome the action by the U.S. Congress to avoid sudden tax increases and spending cuts, including through an extension of unemployment benefits during 2013. In the absence of Congressional action the economic recovery would have been derailed.

South Sudan will delay resuming oil exports until at least mid-March even if the new African republic solves all security conflicts with Sudan at a presidential summit on Friday, Oil Minister Stephen Dhieu Dau said.

The World Bank Group Thursday announced the debarment of Energoprojekt Niskogradnja, a Serbian civil engineering and contracting company - for a period of 2.5 years following the company’s acknowledgment of misconduct in a Bank-financed roads and development project in Uganda.

World markets greeted 2013 on a high note Wednesday after the U.S. Congress and President Barack Obama reached a last-minute deal to avert a financial crisis that analysts say could have sent the United States into a recession.

The Middle East and North Africa (MENA) Transition Fund recently received $37.7 million from Canada, the United Kingdom, and France to support good governance, sustainable growth, and greater employment opportunities for youth.

Mr. Gerry Rice, Director of External Relations at the International Monetary Fund (IMF), issued the statement Wednesday