Finance & Economics | WPN World People News

Economic growth in Lao PDR is estimated at 6.5 percent in 2018, down from 6.9 percent in 2017, in part due to the adverse impact of the recent widespread floods. The construction of infrastructure, export of electricity, and service sector have been the main drivers of growth in 2018. The medium-term economic outlook is favorable but subject to risks, including a volatile global economic environment, according to the latest edition of the World Bank’s Lao Economic Monitor, released on January 18.

On January 16, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Belarus.

The cyclical recovery of the Belarusian economy continues, with growth in the first three quarters of 2018 reaching 3.7 percent. Higher oil prices and robust external demand have supported exports, while domestic demand got an impulse from double-digit wage growth in response to ambitious wage targets.

Assisted by a panel of independent experts, the EU Commission would be tasked with establishing “generalised deficiencies as regards the rule of law” and decide on measures that could include suspending EU budget payments or reducing pre-financing. The decision would only be implemented once approved by Parliament and Council. Once the member state remedies the deficits identified by the EU Commission, Parliament and EU ministers could unlock the funds.

Social impact investment, which aims to improve well-being as well as earn a financial return, could be more effective if it were more clearly defined internationally with more measurable outcomes, according to a new OECD report.

The global economy faces a number of complex challenges from technological change and globalization, and the lingering effects of the 2008-9 financial crisis. At the same time, we are witnessing lower levels of trust in the core institutions that have helped to deliver tremendous growth and prosperity over the past 40 years. These developments threaten to fragment the international order that has governed the global economy.

On Wednesday, Parliament backed a proposal to lower tariffs in the territory of Western Sahara to the same level as Moroccan tariffs, to benefit local populations.

The World Bank will help the Government of Himachal Pradesh (GoHP) bring clean and reliable drinking water to the citizens of the greater Shimla area, who have been facing severe water shortages and water-borne epidemics over the last few years.

On January 11, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Finland.