Finance & Economics | WPN World People News

More than 200,000 people in the Kyrgyz Republic will benefit from the improved efficiency and quality of heating during cold winter months, thanks to the Heat Supply Improvement Project, on October 27, approved by the World Bank’s Board of Executive Directors. The project will be financed by the combination of a US $23 million credit and a US $23 million grant.

Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing U.S. shale oil production, while the surge in metals prices is expected to level off next year, the World Bank said on Thursday.

A new World Bank Group report titled, The Geography of Welfare in Benin, Burkina Faso, Côte d’Ivoire, and Togo explains the failure of the sub-region’s strong economic growth (above 5 percent, annually) to translate into benefits for the population as a whole. Its analysis of the data from four recent household consumption surveys points clearly to significant disparities within the countries studied.

Trade talks with Australia and New Zealand should aim to help the EU economy while protecting farmers and consumers, MEPs say in a resolution voted on Thursday.

The European Commission has launched a public consultation on how the EU can ensure that the digital economy is taxed in a fair and growth-friendly way, on October 26. Taxing the digital economy has become an issue of pressing importance – politically and economically.

Ukraine has achieved remarkable progress on anti-corruption reforms since the 2014 Revolution of Dignity. Despite these major achievements, there is a serious risk of backsliding on reforms, according to a new OECD report.

The World Bank’s Board of Executive Directors approved two grants totaling US$35 million to improve access to electricity for more than two million Haitians, and to scale-up investments in renewable energy in underserved rural and urban areas.

On October 20, 2017, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Kyrgyz Republic.

A stable business environment, effective regulations, and political stability are among the key drivers of foreign direct investment (FDI) into developing countries, according to a new survey released by the World Bank Group, on October 25.

MEPs set overall EU budget for 2018 at €162.6 billion (+1.2% on the Commission’s draft budget) for commitments and €146.7 billion (+0.9%) for payments.