Finance & Economics | WPN World People News

On July 20, the Executive Board of the International Monetary Fund (IMF) approved a three-year SDR 83.55 million (about US$115.8 million, 75 percent of quota) arrangement under the Extended Credit Facility (ECF) for the Central African Republic. The approval enables the immediate disbursement of SDR 12.525 million (about US$17.4 million), while the remaining amount will be phased over the duration of the arrangement, subject to program reviews.

Chile has taken steps to address the rising environmental pressures from its rapid economic growth, strengthening its environmental institutions and introducing new instruments, including a carbon tax. It now needs to move ahead and thoroughly implement policy measures to stem the threat to its land, air and water, according to a new OECD report.

The Government of Sri Lanka and the World Bank on 20 July signed a $55 million loan to Sri Lanka to improve urban services, preserve cultural and environment assets, and improve livability in Jaffna, adding the city to an existing project to develop Galle and Kandy.

The Government of Uruguay, in partnership with the International Monetary Fund (IMF) will organize a conference entitled “Latin America: Structural Reforms to Boost Economic Growth” on Tuesday, July 26, 2016 in Montevideo, Uruguay.

Governments should use tax policy to drive forward economic agendas that seek to boost growth while sharing the benefits more evenly within society, according to a new OECD report.

The Government of Sri Lanka and the World Bank on 20 July signed a $55 million loan to Sri Lanka to improve urban services, preserve cultural and environment assets, and improve livability in Jaffna, adding the city to an existing project to develop Galle and Kandy.

On July 13, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with St. Vincent and the Grenadines.

After accelerating strongly last year, Vietnam’s economic activity moderated in the first half of 2016, with GDP expanding by 5.5 percent during the first half of 2016, compared to 6.3 percent growth in the same period last year.

An International Monetary Fund (IMF) mission from Washington, D.C., headed by Sonali Jain-Chandra, visited Cambodia from July 6 to July 20, 2016 to conduct the annual Article IV staff discussions. During the visit, the mission assessed macroeconomic developments and held policy discussions with ministers and senior officials of the Royal Government of Cambodia, and met a wide range of stakeholders, including representatives of business community, NGOs, and development partners.

The Government of Fiji signed a US$50 million loan agreement with the World Bank to support their continued recovery needs from Tropical Cyclone Winston and enhance the country’s efforts to protect the most vulnerable, on July 18.