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IFC Press Releases

IFC, Eskhata Bank to Expand SME Finance in Tajikistan

5 hours 49 min ago
Dushanbe, Tajikistan, September 29 , 2014—IFC, a member of the World Bank Group, is providing a $10 million subordinated loan and $5 million senior loan denominated in Tajik somoni to Eskhata Bank to help expand access to finance for small and medium enterprises (SMEs), creating jobs and boost

IFC Encourages Jobs, Investment through Hospitality Industry in Ethiopia

5 hours 49 min ago
Addis Ababa, Ethiopia, September 28, 2014: IFC, a member of the World Bank Group, today announced its first hotel investment in Ethiopia, with a loan of $9.5 million to Ethiopian company Tsemex Global Enterprise, to develop an international-standard hotel in Addis Ababa. The hotel will create

IFC, Al Majmoua Support Small Businesses and Women Entrepreneurs in Lebanon

5 hours 49 min ago
Beirut, Lebanon, September 25, 2014 — IFC, a member of the World Bank Group, is providing a loan to a leading Lebanese microfinance institution, part of an effort to encourage entrepreneurship and drive economic development in Lebanon. The $2 million loan will help the Lebanese Association f

Infrastructure Is Key to IFC’s Development Agenda in Europe and Central Asia

5 hours 49 min ago
Istanbul, Turkey, September 25, 2014 – In the fiscal year ending June 30, 2014, IFC, a member of the World Bank Group, invested more than $915 million in infrastructure in Europe and Central Asia (ECA) in an effort to ensure improved access to markets and goods and boost economies across the r

IFC, Partner Banks Help Finance Sustainable-Energy Projects and Cut Carbon Emissions in the Philippines

5 hours 49 min ago
Manila, the Philippines, September 30, 2014—IFC, a member of the World Bank Group, and its partner banks have provided 19 billion Philippine pesos (about $463 million) worth of financing to more than 130 sustainable-energy projects, thereby helping cut a million metric tons of greenhouse-gas e

Green Building Council Brings IFC’s EDGE Certification to South Africa’s Residential Property Market

8 hours 38 min ago
Cape Town, September 25, 2014—The Green Business Council of South Africa and IFC, a member of the World Bank Group, have launched of IFC’s EDGE certification program in South Africa. The program, which will be focused on the residential property sector in South Africa, includes innovative soft

Green Building Council Brings IFC’s EDGE Certification to South Africa’s Residential Property Market

8 hours 38 min ago
Cape Town, September 15, 2014—The Green Business Council of South Africa and IFC, a member of the World Bank Group, today announced the launch of IFC’s EDGE certification program in South Africa. The program, which will be focused on the residential property sector in South Africa, includes in

مؤسسة التمويل الدولية والجمعية اللبنانية للتنمية تدعمان الشركات الصغيرة ورائدات الأعمال في لبنان

16 hours 15 min ago
بيروت، لبنان، 25 سبتمبر/ أيلول 2014، أعلنت مؤسسة التمويل الدولية، عضو مجموعة البنك الدولي، عن تقديمها قرضاً إلى إحدى المؤسسات اللبنانية الرائدة في مجال التمويل متناهي الصغر بهدف تشجيع ريادة الأعمال وتعزيز التنمية الإقتصادية فى لبنان. وسيساعد هذا القرض، البالغ قيمته 2 مليون دولار، الجمعي

IFC Supports Senegal’s Efforts to Improve Agricultural Commerce Through Access to Finance

17 hours 48 min ago
Dakar, 25 September, 2014 -- IFC, a member of the World Bank Group, and the government of Senegal, today announced a program that will help provide access to credit for the agricultural sector and ease the commercialization of agricultural products, contributing to a reduction in extreme pover

IFC appuie le Gouvernement du Sénégal à faciliter la commercialisation des produits agricoles

1 day 15 hours ago
Dakar, le 25 septembre 2014 - IFC, membre du Groupe de la Banque mondiale, appuie le Gouvernement du Sénégal en vue d’accroître l’accès au crédit du secteur de l’agriculture, et faciliter la commercialisation des produits agricoles. Contribuer à la commercialisation des produits agricoles

International and Mongolian Partners Promote Good Governance in Mongolia’s Banking Sector

5 days 14 hours ago
Ulaanbaatar, Mongolia, September 18, 2014—IFC, a member of the World Bank Group, FMO (the Netherlands Development Finance Company), the Bank of Mongolia, and the Mongolian Bankers Association are working together to improve corporate-governance practices in Mongolian banks, which will help att

IFC向广西丰林投资1.86亿元,帮助创造就业,支持中国林业产业

5 days 14 hours ago
2014年9月24日,北京—世界银行集团成员IFC将向中国领先的人造板材制造商广西丰林木业集团股份有限公司提供1.86亿元 (约3000万美元) ,以支持丰林改 善地理布局,推出更具环境可持续性的产品。该项目将创造就业机会,支持中国林业产业的可持续发展。 此次5年期的本币贷款将帮助丰林在中国南方欠发达的广西壮族自治区新建年产20万立方米的中密度纤维板生产设施,同时对位于广东省的年产20万立方米刨花板厂进行升级改 造。 丰林董事长崔建国说:“IFC的贷款使公司获得了在市场上不易获得的长期融资,这对我们的战略发展和扩张计划至关重要。新工厂有助于我们的产品线实现互补,提高我们的规

IFC Invests 186 Million Yuan in Guangxi Fenglin to Create Jobs and Support China’s Forestry Industry

5 days 18 hours ago
Beijing, September 24, 2014—IFC, a member of the World Bank Group, will provide 186 million yuan (about $30 million) to Guangxi Fenglin Wood Industry Group Co., a leading Chinese wood-panel manufacturer, to extend its geographic reach and the range of its environmentally sustainable products.

IFC, AXA Agree to Boost Insurance Coverage, Improve Safety in Emerging Markets

5 days 18 hours ago
Paris, September 22, 2014—IFC, a member of the World Bank Group, and AXA Group, a worldwide leader in insurance, signed an agreement today to help expand insurance coverage, improve safety, and foster economic growth in emerging markets. The five areas of cooperation are: co-investments, w

IFC Debuts Maharaja Bonds, Attracting Foreign Investment and Setting Triple-A Benchmark for India's Domestic Capital Markets

5 days 18 hours ago
Mumbai, India, September 23, 2014— IFC, a member of the World Bank Group, today issued its first onshore rupee bond, setting an international triple-A benchmark for the country's domestic capital markets. The IFC Maharaja bonds raised Indian rupees 6 billion, or approximately $100 million, fro

Mature Capital Markets Key to China’s Sustained Growth, Experts Say at International Conference

6 days 18 hours ago
Beijing, September 18, 2014—China needs to develop more mature and liquid financial markets in order to meet the government’s objectives for sustained growth led by domestic economic activity, international experts said at a capital markets conference in Beijing today. The conference was

IFC and Bank Al-Maghrib Work to Expand Access to Credit in Africa

1 week 20 hours ago
Rabat, Morocco, September 22, 2014—IFC, a member of the World Bank Group, and Bank Al-Maghrib, the Central Bank of Morocco, will organize an international symposium to train African and MENA central banks and financial regulators on financial infrastructure and risk management that will help s

IFC et Bank Al-Maghrib se mobilisent pour le développement de l’accès au crédit en Afrique

1 week 20 hours ago
Rabat, Maroc, le 22 septembre 2014 - IFC, un membre du Groupe de la Banque mondiale, et Bank Al-Maghrib, la Banque centrale du Maroc, organisent un colloque international en vue de former les banques centrales et instituions de régulation africaines, arabes et d’autres régions aux dernières te

IFC pone en marcha la asociación "Ella Trabaja" para promover el empleo de las mujeres en el sector privado

1 week 20 hours ago
Ciudad de Nueva York, 22 de septiembre de 2014. La Corporación Financiera Internacional (IFC), institución que forma parte del Grupo del Banco Mundial, anunció hoy la puesta en marcha de una asociación con el sector privado que mejorará las oportunidades de empleo de más de 300 000 mujeres en

IFC Launches She Works Partnership to Advance Women’s Employment in the Private Sector

1 week 1 day ago
New York City, September 22, 2014—IFC, a member of the World Bank Group, today announced the launch of a private sector partnership that will improve employment opportunities for more than 300,000 women over the next two years. The initiative was announced by World Bank Group President Jim Yon

IFC Helps Trans-Oil Increase Agricultural Exports in Moldova

1 week 1 day ago
Chisinau, Moldova, September 11, 2014 — IFC, a member of the World Bank Group, has extended financing to Trans-Oil to promote its agricultural export activities in Moldova and help raise the incomes of local farmers. The $155 million short-term pre-export finance facility, arranged by Societ

IFC Adquire Participação na Austral para Apoiar a Expansão do Mercado de Seguros Brasileiro

1 week 1 day ago
São Paulo, 9 de setembro, 2014 - IFC, membro do Grupo Banco Mundial, anuncia um investimento de R$ 80 milhões na Austral Participações para apoiar a expansão do mercado de seguros para os setores de infraestrutura e agricultura, entre outros, e inovação de produtos de seguro. A IFC vai adq

IFC Becomes Shareholder of Austral to Support Expansion of Brazilian Insurance Market

1 week 1 day ago
São Paulo, Brazil, September 9, 2014—IFC, a member of the World Bank Group, announced an equity investment of BRL 80 million (about US$ 36 million) in Austral Participações, to support the expansion of the insurance market for infrastructure and agricultural sectors, among others, and promote

IFC Delivers Wide-Ranging Support for Private Sector, Poverty Reduction in Sub-Saharan Africa in 2014

1 week 1 day ago
Nairobi/Dakar, September 10, 2014—IFC, a member of the World Bank Group, provided billions of dollars of new financing and investment mobilization and delivered wide-ranging advisory services in sub Saharan Africa during its most recent fiscal year. IFC’s activities impacted 1.1 million farmer

En 2014, IFC a apporté un appui d’envergure au secteur privé et a contribué à la réduction de la pauvreté en Afrique sub-saharienne

1 week 1 day ago
Nairobi/Dakar, le 10 septembre 2014 – Au cours de son dernier exercice financier, IFC, membre du Groupe de la Banque mondiale, a octroyé plusieurs milliards de dollars en nouveaux financements et mobilisations d'investissements, tout en fournissant une large gamme de services-conseil en Afri

El primer Foro por el Desarrollo Rural enfrentó el Reto del Financiamiento al Campo Colombiano

1 week 1 day ago
Bogotá, Colombia, 19 de septiembre de 2014—Los retos que enfrenta el desarrollo rural en Colombia y el papel que puede jugar la coordinación entre el  sector público y privado para promover el crecimiento del sector agrícola fueron abordados en el primer Foro por el Desarrollo Rural, un evento

IFC and the Lao Government Present Revised Water Resources Law to Different Stakeholders

1 week 1 day ago
Vientiane, Lao PDR, September 18, 2014—IFC, a member of the World Bank Group, and the government of the Lao People’s Democratic Republic have presented a revised draft of the Water Resources Law at a public consultation. The revised law has proposed putting in place a water rights regime to fo

IFC, PNB Housing to Expand Affordable Home Loans Availability Among Women, Self-employed in India

1 week 1 day ago
New Delhi, India, September 18, 2014—IFC, a member of the World Bank Group, is lending  $50 million to PNB Housing Finance to support increased access for affordable housing finance, particularly among women and self-employed people, in India. IFC also helped mobilize a further $50 million to

IFC Supports RP Global’s Rudine Wind Farm, Boosting Croatia’s Clean Energy

1 week 4 days ago
In Belgrade:                         Slobodan Brkic                         Phone: +381 11 3023 750         E-mail: sbrkic@ifc.org         In Washington, D.C.: Josef Skoldeberg Tel: +1 202 473 6978 E-mail: JSkoldeberg@ifc.org Zagreb, Croatia/ Vienna, Austria, September 17, 2014 – IF

IFC Becomes Largest Issuer of London-Listed Renminbi Bonds, Supporting Internationalization of Chinese Currency

1 week 4 days ago
Beijing/London, September 17, 2014—IFC, a member of the World Bank Group, today became the largest issuer of renminbi-denominated bonds on the London Stock Exchange, issuing bonds totaling 1 billion yuan (equivalent to about $163 million) to increase foreign investment in China and support the

IFC Lends $96 million to Yapi Kredi Leasing to Promote Energy Efficiency and Renewable Energy in Turkey

1 week 5 days ago
In Istanbul: Basak Pamir Ulgen Phone: +90 212 385 3075 E-mail: bulgen@ifc.org Istanbul, Turkey, September 17, 2014 - IFC, a member of the World Bank Group, is lending $96 million to Yapi Kredi Leasing, Turkey’s leading leasing company, to increase its leasing operations in energy effic

IFC and Airtel Money to Expand Access to Mobile Financial Services in Uganda

1 week 5 days ago
Johannesburg, South Africa, September 17, 2014—IFC, a member of the World Bank Group, today announced an advisory services agreement, valued at $3.9 million, with Airtel Uganda to expand access to mobile financial services to strengthen financial inclusion. In Uganda, just over half of the

IFC and Yoma Bank Ink Deal to Expand Financing for Small and Medium Enterprises in Myanmar

1 week 6 days ago
Nay Pyi Taw, Myanmar, September 16, 2014— IFC, a member of the World Bank Group, has agreed to provide Yoma Bank Ltd. with a $5 million convertible loan and help the lender improve its risk management and corporate governance in support of the bank's growth strategy. The package is expected to

IFC Invests in Virgin Mobile to Expand Affordable Access to Broadband Mobile Services in Central and Eastern Europe

1 week 6 days ago
Warsaw, Poland, September 16, 2014—IFC, a member of the World Bank Group, together with the European Bank for Reconstruction and Development (EBRD), Delta Partners Emerging Markets TMT Growth Fund II, and CEE Mobile Capital LLC (spearheaded by Dick Kiphart of KGC Capital LLC), will provide €40

IFC Ramps up Investments to Boost Economic Integration in MENA

1 week 6 days ago
Cairo, Egypt, September 16, 2014—IFC, a member of the World Bank Group, has stepped up its work encouraging cross border investments between emerging economies in the Middle East and North Africa and other developing regions over the past twelve months. During the 2014 financial year, whi

IMF News

Republic of the Congo: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for the Republic of the Congo

4 hours 50 min ago
Country Report No. 14/301

Press Release: IMF, Jamaica’s Government, and Civil Society Groups Stress Importance of Women Participation in the Economy

4 hours 50 min ago

Press Release: IMF Mission Welcomes Seychelles’ Commitment to Continued Strong Policies

5 hours 3 min ago

<p>World Economic Outlook (WEO), October 2014: Legacies, Clouds, Uncertainties - Analytical Chapters</p>

5 hours 48 min ago

IMF Survey: The Time Is Right for an Infrastructure Push

11 hours 45 min ago

Bangladesh: Statement at the Conclusion of the IMF Mission for the Fifth Review under the Extended Credit Facility (ECF) Arrangement

11 hours 47 min ago

IMF Survey: Global Imbalances: Narrowing Flows, Widening Stocks

13 hours 30 min ago

IMF Releases Results of December 2013 Coordinated Portfolio Investment Survey

13 hours 40 min ago

IMF Executive Board Concludes Review of the Financial Sector Assessment Program

1 day 4 hours ago
Press Release

Guinea: Requests for Disbursement Under the Rapid Credit Facility and for Modification of Performance Criteria Under the Extended Credit Facility Arrangement—Staff Report; Press Release; and Statement by the Executive Director for Guinea

1 day 6 hours ago
Country Report No. 14/298

Guinea: Letter of Intent, Memoranda of Economic and Financial Policies, and Technical Memorandum of Understanding, September 18, 2014

1 day 6 hours ago

IMF Survey: IMF Loan to Help Yemen Tackle Reforms, Attract Aid

1 day 6 hours ago

Zimbabwe: IMF Staff Concludes Mission for a Staff-Monitored Program

1 day 7 hours ago

Sierra Leone: Ad Hoc Review Under the Extended Credit Facility Arrangement and Request for Augmentation of Access and Modification of Performance Criteria and Financing Assurances Review-Staff Report; Press Release; and Statement by the Executive Director

1 day 7 hours ago
Country Report No. 14/300

Sierra Leone: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding

1 day 7 hours ago

Liberia: Ad Hoc Review Under the Extended Credit Facility Arrangement and Request for Augmentation of Access and Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Liberia

1 day 7 hours ago
Country Report No. 14/299

Transcript of a Press Briefing by Gerry Rice, Director, Communications Department, International Monetary Fund

1 day 11 hours ago

Kuwait: Concluding Statement of the 2014 Article IV Consultation

1 day 11 hours ago

Jordan: IMF Staff Statement at the End of a Review Mission

2 days 13 hours ago
Press Release

IMF Survey: IMF Approves $130 Million for Countries Worst Hit by Ebola

4 days 8 hours ago
As the death toll from Ebola rises and the economic impact of the crisis spreads, the IMF steps in to provide a total of $130 million of emergency financial assistance to Guinea, Liberia, and Sierra Leone, the three West African countries at the center of the epidemic.

IMF Video: IMF Approves $130 Million for Countries Worst Hit by Ebola

4 days 9 hours ago

Podcast: IMF Approves $130 Million for Countries Worst Hit by Ebola

4 days 9 hours ago
Podcast

Press Release: IMF Executive Board Approves US$130 Million in Immediate Assistance to Guinea, Liberia, and Sierra Leone in Response to the Ebola Outbreak

4 days 10 hours ago

Press Release: Senior Policymakers from CESEE Countries Discuss Credit Growth Recovery in IMF-Bank of Slovenia Conference

4 days 10 hours ago

St. Kitts and Nevis: Letter of Intent, June 23, 2014

4 days 11 hours ago

St. Kitts and Nevis: Ninth and Final Review Under the Stand-By Arrangement, Request for Waiver of Nonobservance of Performance Criterion, and Proposal for Post-Program Monitoring—Staff Report

4 days 11 hours ago
Country Report

Ghana: IMF Staff Concludes Visit

4 days 13 hours ago

Press Release: IMF Staff Concludes 2014 Article IV Mission to Senegal and Final Review under the PSI

4 days 13 hours ago

Denmark: Concluding Statement of the 2014 Article IV Mission

4 days 15 hours ago

IMF Staff Concludes Visit to Mali

4 days 22 hours ago

IMF Mission and Guinea-Bissau Reach Staff-level Agreement on Financial Assistance Under The Rapid Credit Facility

5 days 5 hours ago

Cabo Verde: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Cabo Verde

5 days 6 hours ago
Country Report No. 14/296

IMF Video: Press Briefing by Gerry Rice, Director, IMF Communications Department

5 days 6 hours ago

Jamaica: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding

5 days 11 hours ago

Jamaica: Fifth Review Under the Extended Fund Facility and Request for Modification of Performance Criteria—Staff Report

5 days 11 hours ago
Country Report

Republic of Yemen: 2014 Article IV Consultation and Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; Press Release; and Statement by the Executive Director for the Republic of Yemen

6 days 7 hours ago
Country Report No. 14/276

Jamaica: IMF Executive Board Concludes Fifth Review under the Extended Fund Facility and Approves US$68.8 Million Disbursement

6 days 10 hours ago

The IMF and Banque de France Hold the First IMF Central Bank Forum for Developing Markets: The Road to Inflation Targeting and Transitional Monetary Arrangements

6 days 12 hours ago

IMF Video: Press Conference by IMF Managing Director Christine Lagarde at the Conclusion of the Group of 20 (G20) Finance Ministers and Central Bank Governors Meeting in Cairns, Australia

1 week 8 hours ago

Burundi: 2014 Article IV Consultation, Fifth Review Under the Three-Year Arrangement Under the Extended Credit Facility; and Request for Modification of Performance Criteria-Staff Report; Press Release; and Statement by the Executive Director for Burundi

1 week 8 hours ago
Country Report No. 14/293

Burundi: Letter of Intent, Memorandum of Economic and Financial Policies, and Technical Memorandum of Understanding, July 21, 2014

1 week 8 hours ago

Report on the Incidence of Longer-Term Program Engagement

1 week 10 hours ago
IMF Policy Paper

Iceland: Technical Assistance Report-Modernizing the Icelandic VAT

1 week 11 hours ago
Country Report

Saudi Arabia: 2014 Article IV Consultation-Staff Report; Press Release

1 week 12 hours ago
Country Report No. 14/292

IMF Financial Activities -- Update September 18, 2014

1 week 1 day ago

Press Release: IMF Managing Director Christine Lagarde Commends Progress on G20 Growth Strategies, Calls for Further Action to Strengthen the Recovery

1 week 2 days ago

Making the Most of Opportunities, Agostinho Neto University, Luanda, Angola, Speech by Naoyuki Shinohara, IMF Deputy Managing Director

1 week 4 days ago

Bosnia and Herzegovina: Statement at the Conclusion of an IMF Mission

1 week 4 days ago

Guatemala: Selected Issues and Analytical Notes

1 week 5 days ago
Country Report

Guatemala: 2014 Article IV Consultation—Staff Report

1 week 5 days ago
Country Report

Sri Lanka: 2014 Article IV Consultation and Second Post-Program Monitoring Discussion-Staff Report; Press Release

1 week 5 days ago
Country Report No. 14/285

Sri Lanka: Selected Issues Paper

1 week 5 days ago
Country Report No. 14/286

Italy: IMF Executive Board Concludes Article IV Consultation

1 week 5 days ago

Italy: Selected Issues Paper

1 week 5 days ago
Country Report

Italy: 2014 Article IV Consultation—Staff Report

1 week 5 days ago
Country Report

IMF Survey: Labor, Judiciary, Tax Reforms Can Help Boost Italy's Economy

1 week 5 days ago
Italy is struggling to emerge from recession, as tight credit conditions shackle investment, high public debt weighs on future growth prospects and long-standing rigidities hamper productivity, IMF staff said in a regular review of the country's economy.

How Much Carbon Pricing is in Countries’ Own Interests? The Critical Role of Co-Benefits

1 week 5 days ago
Working Paper No. 14/174

Growth Surprises and Synchronized Slowdowns in Emerging Markets––An Empirical Investigation

1 week 5 days ago
Working Paper No. 14/173

Australian Minister of Foreign Affairs and Trade Opens Course on Inclusive Growth at the IMF’s Africa Training Institute (ATI)

1 week 6 days ago

Belize: Selected Issues Paper

1 week 6 days ago
Country Report

Belize: 2014 Article IV Consultation—Staff Report

1 week 6 days ago
Country Report

IMF Staff Proposes Financial Assistance to Guinea, Liberia, and Sierra Leone to Address Economic Impact of Ebola Outbreak

1 week 6 days ago

IMF Policies and Practices on Capacity Development

1 week 6 days ago
IMF Policy Paper

Sudan: IMF Staff Concludes 2014 Article IV and the Second Review Missions

1 week 6 days ago
Press Release

The Gambia: IMF Staff Concludes Mission

1 week 6 days ago
Press Release

OECD News - Corruption

Anti-corruption Network for Eastern Europe and Central Asia meetings: October 2014

0 sec ago
8-10 October 2014, Paris, France: Discussions at this meeting will focus on implementing the Istanbul Anti-Corruption Action Plan; monitoring reports for Armenia and Kazakhstan; and, progress reports from Azerbaijan, Georgia, Kyrgyz Republic, Mongolia, Tajikistan, Ukraine and Uzbekistan.

International Forum on Open Government

12 hours 44 min ago
The International Forum on Open Government gathered open government leaders from around the world in order to debate the contribution of the principles of transparency, accountability and citizens’ participation to good governance and socio-economic development.

OECD News - Development

The post-2015 agenda must steer a transformational shift towards sustainable development

6 days 9 hours ago
As the Millennium Development Goals (MDGs) approach their expiry date, we must focus our efforts on ensuring a brighter, more inclusive and sustainable future for all. We face a plethora of common issues: growing inequalities; changing consumption patterns and population dynamics; increasing natural resource scarcity; and ongoing illicit financial flows.

UNGA 2014 Side Event

6 days 19 hours ago
“Creating enabling environments for sustainable development: How policy coherence can help curb illicit financial flows in the post-2015 era”

OECD-CPI Dialogue: Improving Transparency and Accountability through Improved Tracking of Climate Finance Flows

1 week 1 day ago
The OECD and CPI organised a Dialogue on "Improving Transparency and Accountability through Improved Tracking of Climate Finance Flows" on 22 September in New York.

Latin American Competition Forum

2 weeks 1 day ago
The 2014 OECD-IDB Latin American Competition Forum takes place in Montevideo, Uruguay, on 16-17 September. Discussions will focus on electricity markets in Latin America, a peer review of Costa Rica's competition law and policy and mainstreaming competition policy with key policy makers.

OECD News - Economy

Consumer Prices, OECD - Updated: 30 September 2014

11 hours 28 min ago
OECD annual inflation eases slightly to 1.8% in August 2014

Joint OECD-NBER Conference on Productivity Growth and Innovation in the Long Run

5 days 13 hours ago
Despite large and growing investments in knowledge and innovation, productivity growth in many countries has slowed in recent years. At the same time, the urgent need for more rapid innovation (including its uptake and diffusion) in several key areas, such as in environment. This joint OECD-NBER workshop on 25-26 September 2014 will bring together academic experts to consider these challenges.

Addressing high household debt in Korea

1 week 5 days ago
Rising household debt has become a major policy concern in Korea. By the end of 2012, it had risen to 164% of disposable income, well above the OECD average of 133%.

Reducing the high rate of poverty among the elderly in Korea

1 week 5 days ago
One-half of Korea's population aged 65 and over lives in relative poverty, nearly four times higher than the OECD average of 13%. Elderly poverty is thus an urgent social problem.

Fostering inclusive growth in Turkey by promoting structural change in the business sector

1 week 5 days ago
Turkey’s business sector dynamism has underpinned broad-based and inclusive growth in the 2000s. However, the business sector is highly segmented, with a relatively small core of modern high-productivity corporations, and myriad small, less formal and low-productivity entities.

Promoting the financing of SMEs and start-ups in Korea

1 week 5 days ago
The Korean government has made fostering a “creative economy” a top priority. The goal is to shift Korea's economic paradigm to one based on innovation in which new start-ups and venture businesses play a key role.

Reducing macroeconomic imbalances in Turkey

1 week 5 days ago
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process.

OECD News - Finance

2nd Global Policy Research Symposium to Advance Financial Literacy

0 sec ago
Discussions at this OECD-GFLEC event in Paris on 6 November 2014 will address the status of financial literacy around the world, the impact of the institutional framework, innovative ideas and how to translate research into policy and practice.

2nd Global Policy Research Symposium to Advance Financial Literacy

0 sec ago
Discussions at this OECD-GFLEC event in Paris on 6 November 2014 will address the status of financial literacy around the world, the impact of the institutional framework, innovative ideas and how to translate research into policy and practice.

2014 OECD/IOPS Global Forum on Private Pensions

0 sec ago
2-3 October 2014, Swakopmund, Namibia: This event will focus on the pension reform process in Africa, tax and the financial incentives that affect savings in complementary private pensions, and the role of pension funds in long-term investment financing and capital market development.

2014 OECD/IOPS Global Forum on Private Pensions

0 sec ago
2-3 October 2014, Swakopmund, Namibia: This event will focus on the pension reform process in Africa, tax and the financial incentives that affect savings in complementary private pensions, and the role of pension funds in long-term investment financing and capital market development.

The post-2015 agenda must steer a transformational shift towards sustainable development

6 days 9 hours ago
As the Millennium Development Goals (MDGs) approach their expiry date, we must focus our efforts on ensuring a brighter, more inclusive and sustainable future for all. We face a plethora of common issues: growing inequalities; changing consumption patterns and population dynamics; increasing natural resource scarcity; and ongoing illicit financial flows.

G20-OECD work on long-term financing

1 week 2 days ago
The OECD is working with the G20 encourage the flow of institutional investment towards longer-term assets, such as infrastructure and renewable energy projects, in order to strengthen the global economy and deliver more sustainable growth.

Addressing high household debt in Korea

1 week 5 days ago
Rising household debt has become a major policy concern in Korea. By the end of 2012, it had risen to 164% of disposable income, well above the OECD average of 133%.

Reducing macroeconomic imbalances in Turkey

1 week 5 days ago
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process.

The World Bank - Governance

Governors and governing institutions: a comparative study of state-business relations in Russia's regions

1 week 5 days ago
The paper uses the latest 2011 round of the Business Environment and Enterprise Performance Survey for the Russian Federation, which for the first time was designed to be representative of Russian regions. The paper takes a closer look at regional-level factors influencing the business environment in Russia and, more specifically, conditions that favor the emergence of symbiotic relations between regional authorities and regional businesses. Considering the argued significance of informal rules, norms, and agreements for the regional-level business environment in Russia, the paper uses proxy variables such as tenure and origin of regional governors to identify how these rules are being institutionalized. The findings reveal that, at least in case of Russia, juxtaposing the state and business actors as separate and opposed to each other may overstate the distinction between these two groups of actors and understate the fact that many localities in Russia have witnessed the emergence of mutually beneficial state-business arrangements. Defining whether these arrangements are beneficial or harmful to regional development is beyond the scope of this exploratory paper.

The World Bank - Law and Development

Reducing trade costs in east Africa : deep regional integration and multilateral action

1 day 23 hours ago
There is substantial evidence that with the progressive global decline in tariffs over several decades, trade costs are a more significant barrier to trade than tariffs, especially in Sub-Saharan Africa. This paper decomposes trade costs into three categories: costs that can be lowered by trade facilitation, nontariff barriers, and the costs of business services. The paper develops a 10-region, 18-sector, global trade model that includes Kenya, Tanzania, Uganda, and Rwanda of the East African Customs Union. The analysis finds that deep integration in the East African Customs Union that lowers these trade costs results in significant gains for the four countries, especially from improved trade facilitation. Extending the lowering of nontariff barriers and services liberalization multilaterally would increase the gains between two and seven times, depending on the country. that the analysis also finds that reducing nondiscriminatory services barriers in Kenya and Tanzania would increase welfare even more than multilateral reduction of discriminatory services barriers. The paper is innovative both conceptually and empirically. It contains foreign direct investment in services and is the first paper to numerically assess liberalization of barriers against domestic and multinational service providers in a multi-sector, multi-region, applied general equilibrium model. The paper uses new databases of the ad valorem equivalents of barriers in services and the time in trade costs. Both databases are shown to be important to the results.

Macroinsurance for microenterprises : a randomized experiment in post-revolution Egypt

5 days 23 hours ago
Firms in many developing countries cite macroeconomic instability and political uncertainty as major constraints to their growth. Economic theory suggests uncertainty can cause firms to delay investments until uncertainty is resolved. A randomized experiment was conducted in post-revolution Egypt to measure the impact of insuring microenterprises against macroeconomic and political uncertainty. Demand for macroeconomic shock insurance was high; 36.7 percent of microentrepreneurs in the treatment group purchased insurance. However, purchasing insurance does not change the likelihood that a business takes a new loan, the size of the loan, or how the loan is invested. This lack of effect is attributed to microenterprises largely investing in inventories and raw materials rather than irreversible investments like equipment. These results suggest that, contrary to what some firms profess, macroeconomic and political risk is not inhibiting the investment behavior of microenterprises. However, insurance may still be of value to help firms cope with shocks when they do occur, but the paper is unable to examine this dimension, because the insurance product did not pay out over the course of the pilot.

The World Bank - Porverty Reduction

The impact of exogenous shocks on households in the Pacific : a micro-simulation analysis

6 days 23 hours ago
This paper seeks to provide evidence on the extent of household vulnerability to exogenous economic shocks in the Pacific region and consider policy options that help to manage this risk. Characteristics of the region such as remoteness, small size, dispersion, and urbanizing populations lead to pronounced vulnerabilities. The paper presents macroeconomic and distributional analysis and complements it with results of a micro-simulation model customized for this work based on a model used previously by the World Bank to analyze the impacts of the Food and Fuel Price Crisis. The results of micro-simulations serve to highlight the very high levels of economic vulnerability faced in the region. Impacts of economic shocks are not confined to well-off individuals, but have major impacts on the poor. Even moderate shocks are likely to push sizeable fractions of the population below the poverty line. The shocks considered are not worst case scenarios, but those that can and have occurred frequently. The results show that households are hard hit by increases in oil prices, especially in remote islands where freight costs are higher, while countries on aggregate, and individual households, are exposed to volatility in the prices of the one or two imported food commodities that they depend on. Livelihoods are also often driven by external demand. In particular, many poor households in countries like Papua New Guinea have livelihood strategies centered on cash crops. The results point to the importance of helping households of the Pacific to manage the risk inherent in their lives while prudently using macroeconomic tools at the disposal of the government.

Updating poverty estimates at frequent intervals in the absence of consumption data : methods and illustration with reference to a middle-income country

1 week 23 hours ago
Obtaining consistent estimates on poverty over time as well as monitoring poverty trends on a timely basis is a priority concern for policy makers. However, these objectives are not readily achieved in practice when household consumption data are neither frequently collected, nor constructed using consistent and transparent criteria. This paper develops a formal framework for survey-to-survey poverty imputation in an attempt to overcome these obstacles, and to elevate the discussion of these methods beyond the largely ad-hoc efforts in the existing literature. The framework introduced here imposes few restrictive assumptions, works with simple variance formulas, provides guidance on the selection of control variables for model building, and can be generally applied to imputation either from one survey to another survey with the same design, or to another survey with a different design. Empirical results analyzing the Household Expenditure and Income Survey and the Unemployment and Employment Survey in Jordan are quite encouraging, with imputation-based poverty estimates closely tracking the direct estimates of poverty.

Estimating the long-run impact of microcredit programs on household income and net worth

1 week 23 hours ago
This paper investigates whether the utilization of microcredit programs has a significant impact on the income and net worth of the participants. Several micro finance institutes are optimistic on the beneficial effects of microcredit programs. Others describe microcredit with interest rates in excess of 20 percent as a poverty trap. This paper uses more than 20 years of panel data on households in Bangladesh to estimate bounds on the causal effects of microcredit programs. The analysis rejects the hypothesis that these microcredit programs are a poverty trap. Moreover, the paper finds moderately positive effects of such programs.

World Trade Organization - News

WTO appoints new Appellate Body member

10 hours 58 min ago
The WTO Dispute Settlement Body (DSB) appointed on 26 September 2014 Mr Shree Baboo Chekitan Servansing, of Mauritius, to the seven-member Appellate Body for four years commencing on 1 October 2014. Mr Servansing will replace Mr David Unterhalter, whose second term expired on 11 December 2013.

Azevêdo says success of WTO dispute settlement brings urgent challenges

4 days 10 hours ago
Director-General Roberto Azevêdo told the Dispute Settlement Body on 26 September that “there is no question that the WTO’s dispute settlement system has been a success”, noting that in just under 20 years, the system has received 482 requests for consultations, much more than the 300 disputes GATT received in 47 years. He also noted that in the first 16 years of the WTO estimates suggest the system handled disputes covering at least US$1 trillion of trade flows. He said that “while this is welcome, it does create some real challenges”, including the doubling since 2012 of disputes being handled by the Secretariat, and a much higher than expected rate of appeals.

Members agree on urgent need to address WTO dispute settlement situation

4 days 10 hours ago
At the Dispute Settlement Body meeting on 26 September, many delegations welcomed the Director-General’s statement about the challenges facing the WTO dispute settlement system. Russia rejected the European Union request for a panel in the dispute over light commercial vehicles.

Argentina appeals panel reports on import measures

4 days 10 hours ago
On 26 September 2014, Argentina filed a Notice of Appeal regarding the Panel Reports in “Argentina – Measures Affecting the Importation of Goods” (WT/DS438/444/445).

Regional trade agreements “cannot substitute” the multilateral trading system—Azevêdo

5 days 10 hours ago
Director-General Roberto Azevêdo, in closing the WTO Seminar on Cross-Cutting Issues in Regional Trade Agreements (RTAs) on 25 September 2014, said that RTAs “are important for the multilateral trading system—but they cannot substitute it”. He pointed to “big issues” such as trade facilitation, financial or telecoms regulations or farming and fisheries subsidies that “can only be tackled in an efficient manner in the multilateral context through the WTO”.

Trade Policy Review: Mongolia

6 days 13 hours ago
The second review of the trade policies and practices of Mongolia takes place on 24 and 26 September 2014. The basis for the review is a report by the WTO Secretariat and a report by the Government of Mongolia.

No consensus on how to take negotiations forward, farm talks’ chair concludes

1 week 10 hours ago
WTO agriculture delegates continued to differ on how to proceed with work on agriculture under the 2013 Bali Ministerial Conference’s decisions and in the Doha Round talks, this time when they met as negotiators on 23 September 2014.

WTO lowers forecast after sub-par trade growth in first half of 2014

1 week 10 hours ago
WTO economists have reduced their forecast for world trade growth in 2014 to 3.1% (down from the 4.7% forecast made in April) and cut their estimate for 2015 to 4.0% from 5.3% previously. The downgrade comes in response to weaker-than-expected GDP growth and muted import demand in the first half of 2014, particularly in natural resource exporting regions such as South and Central America. “This is a moment to remind ourselves that trade can play a positive role here. Cutting trade costs and broadening trade opportunities can be a key ingredient to reversing this trend,” Director-General Roberto Azevêdo said.

Azevêdo warns of “freezing effect” on WTO work from impasse on Bali package

1 week 1 day ago
Director-General Roberto Azevêdo , in a speech to the UNCTAD Trade and Development Board on 22 September 2014, said that the Bali package that delivered big gains for WTO members “is now at risk”. He said “at present, the future is uncertain”, adding that if the impasse is not solved “many areas of our work may suffer a freezing effect, including the areas of greatest interest to developing countries, such as agriculture”.

Industrial goods negotiators do not find consensus on post-Bali agenda

1 week 1 day ago
The chairman of the negotiating group on market access for non-agricultural products (NAMA), Ambassador Remigi Winzap of Switzerland, said at the conclusion of an informal meeting held on 22 September that he will report to the chairman of the Trade Negotiations Committee that there is no consensus for continuing work on the negotiations or on the establishment of a work programme for a post-Bali agenda.

Three organizations to hold joint event on medical technologies in middle-income countries

1 week 4 days ago
The World Health Organization (WHO), World Intellectual Property Organization (WIPO) and World Trade Organization (WTO) will hold a technical symposium on “Innovation and access to medical technologies: challenges and opportunities for middle income countries” on 5 November 2014 at the WTO in Geneva.

WTO to award seven Chairs in 2014, beginning with South Africa’s North-West University

1 week 6 days ago
WTO Deputy Director-General Dave Shark, in launching the WTO Chairs Programme at the North-West University of Potchefstroom, South Africa on 17 September 2014, said that “academic institutions have helped the WTO raise awareness on trade issues and contributed to strengthening the knowledge base for effective decision-making”. The WTO will also be launching its Chairs Programme during the year in universities in Benin, Brazil, Indonesia, Oman, Tunisia and Turkey.

Differences remain on deadlines and forums for post-Bali work on agriculture

2 weeks 10 hours ago
WTO members remained divided on how to proceed with work on agriculture under the 2013 Bali Ministerial Conference’s decisions, when they met informally as the regular Agriculture Committee on 16 September.

Items proposed for consideration at the next meeting of Dispute Settlement Body

2 weeks 10 hours ago
The WTO Secretariat has circulated a meeting notice and list of items proposed for the next meeting, on 26 September 2014, of the Dispute Settlement Body, which consists of all WTO members and oversees legal disputes among them. The meeting notice is circulated in the form of a document officially called an “airgram”.

Founded in 2000, the Parliamentary Network is an independent, non-governmental organization that provides a platform for Parliamentarians from over 140 countries to advocate for increased accountability and transparency in development cooperation. Alain Destexhe is the current Chair of the Parliamentary Network.

 

The Network – via its international secretariat, regional chapters and country chapters – reaches over 1500 Parliamentarians in Africa, Asia, Europe and the Americas. It strives to increase transparency and accountability in the development cooperation process by fostering the oversight role of parliaments and civil society. The Network has a specific focus on multilateral aid and a sub-focus on the work and modus operandi of the World Bank Group and the International Monetary Fund (IMF), the world’s largest multilateral funders.

 

It provides a platform for MPs and civil society to hold to account their own governments, as well as International Financial Institutions (IFIs), for development outcomes.

Membership is free of charge and open to elected parliamentarians who currently hold a mandate. As a member, you will receive The Parliamentary Network on the World Bank and International Monetary Fund’s policy materials, including the quarterly Network Review publication and the Parliamentarians and Development series.

You will also be eligible to attend the Annual Conference and participate in discussions with senior World Bank and IMF leadership. You can also be invited to take part in the Parliamentarians in the Field country visit programme.
In addition, the The Parliamentary Network on the World Bank and International Monetary Fund often invites partner organizations to join its activities.
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