Finance & Economics | WPN World People News

Cambodia’s economy will grow by 4.5 percent in 2022, according to the latest World Bank projections. Weathering the Oil Price Shock, the Bank’s June 2022 economic update for Cambodia, shows that while domestic economic activity and goods exports continue to recover from the slowdown caused by COVID-19, growth remains uneven, with the war in Ukraine driving inflation.

World Bank Managing Director for Development Policy and Partnerships, Mari Pangestu concluded her five-day visit to Nepal, reiterating the World Bank’s commitment to support Nepal’s resilient recovery from the pandemic. She was joined by Regional Vice President for South Asia, Hartwig Schafer.

While Togo has made undeniable progress in certain areas, the West African nation is yet to take full advantage of its potential to achieve sustainable and inclusive growth, the World Bank said in its latest Togo Country Economic Memorandum, on June 23.

On June 22, 2022, the Executive Board of the International Monetary Fund (IMF) completed the sixth review of the Policy Coordination Instrument (PCI). The PCI was approved on June 28, 2019 ( Press Release No.19/258 ) to facilitate macroeconomic and financial stability, while advancing an ambitious reform agenda under Rwanda’s National Strategy for Transformation (NST).

The Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of Uzbekistan.

On June 10, 2022, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Principality of Andorra and endorsed the staff appraisal without a meeting.

According to the fifth edition of the World Bank's Report on the Economic Situation in Mauritania, the country's economic recovery in 2021 was robust but below pre-COVID-19 levels and growth potential.

A staff team from the International Monetary Fund (IMF), led by Sonali Jain-Chandra, visited Ethiopia for a technical staff visit with the Ethiopian authorities during June 13-17. The purpose of the staff visit was to discuss the authorities’ reform plans and economic developments, which could provide important input for a future mission to negotiate a potential new Fund program.

Belgium should intensify structural reform efforts to strengthen public finances and raise its economic potential as the war in Ukraine exacerbates fiscal and economic challenges and poses risks to the recovery.

The World Bank Board of Directors approved on June 16, the Rio de Janeiro Adjustment and Sustainable Development Policy Loan, a US$ 135.2 million disbursement to the Municipality of Rio de Janeiro with the goal to strengthen fiscal management to improve medium-term fiscal sustainability and accelerate the transition towards a low-carbon, resilient and inclusive urban development.