Finance & Economics | WPN World People News

Latin America and the Caribbean have led the developing world in shared prosperity achievements in the last decade, and have seen impressive poverty reduction successes, driven by growth, labor incomes and effective safety net programs. The middle class has expanded and the socioeconomic makeup of the region has transformed as a result. As the region now faces an economic slowdown and stagnating inequality, understanding what helped drive these gains becomes particularly valuable.

The global economy is growing slightly faster than in 2014, although growth rates vary widely among countries. We remain vigilant to the risks from potential financial market volatility, movements in exchange rates and oil and other commodity prices, and sluggish global trade.

The Committee expresses its deep appreciation to Deputy Prime Minister Tharman for his service and guidance as IMFC Chairman during challenging times. It welcomes Governor Agustín Carstens as the new Chairman.

Chief executives from major oil companies joined together today with senior government officials from several oil-producing countries to commit on April 17, for the first time, to ending the practice of routine gas flaring at oil production sites by 2030 at the latest.

Mr. Armando Manuel, Chairman of the African Caucus, and Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), co-chaired the African Consultative Group meeting at the IMF Headquarters on April 19. They issued the following statement after the conclusion of the Group’s meeting in Washington.

The delivery of essential public services in the Middle East and North Africa region is failing to meet the needs of citizens and continues to be a source of widespread dissatisfaction, as documented in a new report released by the World Bank on April 15. Trust, Voice and Incentives, learning from local success stories in service delivery in the Middle East and North Africa identifies a corrosive relationship between a lack of accountability among service providers and limited channels for citizen feedback that perpetuate poor service delivery.

Small and medium-sized enterprises (SMEs) are fundamental for inclusive growth and jobs, but they need to broaden their sources of finance in order to reduce their vulnerability to volatile credit market developments, according to two new OECD reports.

Widespread corruption continues to be a major challenge for Kyrgyzstan’s development, despite efforts to streamline its anti-corruption policy and strengthen the institutional framework since 2012.

2015 marks a critical year for development, as the international community works towards agreeing on a set of Sustainable Development Goals (SDGs) to meet the dual challenges of overcoming poverty and protecting the planet. With their welcome emphasis on issues such as the environment, employment, infrastructure, and inequality, the SDGs send a clear message to policy-makers and development practitioners.