Finance & Economics | WPN World People News

The International Monetary Fund (IMF), on October 11, welcomed the continued recovery in activity in sub-Saharan African resource-intensive countries and sustained strong growth in most other countries.

The International Monetary Fund and the World Bank Group, on October 11, launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks.

The Norwegian Government announced a commitment of NOK 450 Million ($54.3 million) to support the reconstruction, reform and development process in Somalia. Channelled through the World Bank’s Multi Partner Fund (MPF), the contribution will provide resources through the Government’s systems to address the country’s most critical challenges on its path towards stability.

The Deputy Prime Minister and Minister of Agriculture, Tomislav Tolušić and the World Bank Country Manager for Croatia and Slovenia, Elisabetta Capannelli, on October 11, signed a technical assistance agreement to support the Ministry of Agriculture in increasing its capacity for evidence-based strategic planning, implementation and monitoring in agriculture, fisheries and rural development to further develop Croatia’s agri-food system to respond to the changing demand for food in domestic and international markets.

The World Bank Group, in partnership with the governments of Germany and the United Kingdom, on October 12, announced a US$145 million Global Risk Financing Facility (GRiF) to help vulnerable countries manage the financial impact of climate change and natural hazard-induced shocks.

AA new report by Scotland’s leading tax and accountancy bodies is on Friday 12 October recommending that more is done to improve public understanding and awareness of Scotland’s devolved tax powers.

The Canadian Taxpayers Federation (CTF) is calling on the Nova Scotia government to shut down or sell off the Yarmouth ferry following a news report showing the ferry service is set to move the terminal to Bar Harbor, Maine, putting Nova Scotia taxpayers on the hook for more tax dollars.

The Low Incomes Tax Reform Group (LITRG) is calling on the Government to use the forthcoming Budget and Finance Bill to act on an inconsistency in tax rules which means that more than a million people on low incomes could be losing out on tax relief on their pension contributions.

Ukraine’s economy grew by 3.5 percent in the first half of 2018, supported by an early agriculture harvest and strong consumption growth from higher wages, pensions, and remittances, according to the World Bank’s latest Ukraine Economic Update. However, investor confidence is being held back by delays in key reforms, Ukraine’s large financing needs, and uncertainty surrounding the 2019 elections.

Growth for the Western Balkan region is estimated to strengthen to 3.5 percent for 2018, according to the latest Western Balkans Regular Economic Report, Higher but Fragile Growth. Albania, Bosnia and Herzegovina, Kosovo, FYR Macedonia, Montenegro, and Serbia are estimated to grow at rates between 2.5 percent and 4 percent.