Finance & Economics | WPN World People News

Amid a global slowdown and elevated trade tensions, the Thai economy is projected to grow by 3.8 percent in 2019 and 3.9 in 2020, according to the World Bank’s Thailand Economic Monitor released on January 16. Investing in human capital and pursuing economic reforms is critically important for Thailand to become a high-income nation with equal opportunities for all citizens.

The World Bank Group launched its Action Plan on Climate Change Adaptation and Resilience, on January15. Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. This financing level—an average of $10 billion a year—is more than double what was achieved during FY15-18. The World Bank Group will also pilot new approaches to increasing private finance for adaptation and resilience.

China’s trade surplus with the United States rose dramatically in 2018, despite a tit-for-tat tariff war with the U.S. that has roiled global markets.

Growth in the Middle East and North Africa is estimated to have improved to 1.7 percent in 2018, contributed by acceleration in activity of both oil exporters and importers.

The government of Bangladesh signed a $250 million development policy operation to support the country’s reform efforts to create large-scale, better-paid and inclusive jobs, on January 9.

Countries should increase their co-operation and information sharing to enable them to deal more effectively and quickly with inflows of humanitarian migrants, according to a new OECD report.

On December 21, 2018, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Burkina Faso. The Board also completed the First Review of Burkina Faso’s economic performance under a three-year program supported by the IMF’s Extended Credit Facility (ECF) arrangement.

Global economic growth is projected to soften from a downwardly revised 3 percent in 2018 to 2.9 percent in 2019 amid rising downside risks to the outlook, the World Bank said on January 8. International trade and manufacturing activity have softened, trade tensions remain elevated, and some large emerging markets have experienced substantial financial market pressures.