This article is published in association with IMF. The Gambia has been relying heavily on donor support to finance critical government activities. Approximately 27 percent of the budget was funded by donors on average between 2018 and 2023. The support seems to have reached its peak despite the country’s growing developmental needs. In response, the government […]The Gambia: Renewing the Push for Domestic Revenue Mobilization
September 17, 2024 by Leave a Comment
This article is published in association with IMF. The Gambia has been relying heavily on donor support to finance critical government activities. Approximately 27 percent of the budget was funded by donors on average between 2018 and 2023. The support seems to have reached its peak despite the country’s growing developmental needs. In response, the government […]EBRD helps Ukraine’s banks to unlock €690 million of new lending
September 12, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is providing new guarantees to Ukraine’s banking sector and unlocking €690 million of new financing to critical industries in wartime Ukraine. The Bank is extending unfunded portfolio risk-sharing facilities to PrivatBank, Ukrgasbank, KredoBank and Bank Lviv, under which the […]EBRD deepens cooperation with AccessBank in Azerbaijan
September 10, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) has relaunched its Risk-Sharing Facility (RSF) in Azerbaijan by partnering with AccessBank to share risk in loans provided to local small and medium-sized enterprises (SMEs). Under the RSF agreement, the EBRD and AccessBank will each provide up to […]Fed Rate Cuts May Help Revive Bond Flows to Emerging, Developing Economies
September 9, 2024 by Leave a Comment
This article is published in association with IMF. Paula Arias, Robin Koepke Some higher risk countries still face high costs for selling foreign-currency denominated debt to investors after major central banks raised interest rates Capital flows to emerging market and developing economies went through several boom-bust cycles in recent decades, often partly driven by external developments […]AI-Powered Treasury: Georgia’s Innovative Approach to Managing Payment Risks
September 4, 2024 by Leave a Comment
This article is published in association with IMF. Davit Gamkrelidze, Giorgi Mchedlishvili, Graham Prentice, Alok Verma Imbibing the spirit of Georgia’s national epic, “The Knight in the Panther’s Skin” by Shota Rustaveli, which celebrates the virtues of exploration and overcoming challenges, the Georgian State Treasury[1] has embraced innovative modern technology to manage risks in Treasury payments. Georgia has established a […]Women Lead Record Number of Central Banks, but More Progress is Needed
August 30, 2024 by Leave a Comment
This article is published in association with IMF. New governors in Bosnia and Herzegovina and Papua New Guinea lifted the share of central banks with women leaders to 16 percent The Editors Women are leading more central banks than ever before, thanks to appointments in the past year, but recent gains still leave the share of […]EBRD supports first renewable hydrogen project in Central Asia
August 28, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is helping to decarbonise fertiliser production and power generation in Uzbekistan by financing a pilot renewable hydrogen facility. It will consist of a 20 MW electrolyser and a greenfield 52 MW wind power plant. The EBRD is offering […]EBRD makes equity investment in Bank of Palestine
August 28, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are supporting the Palestinian economy in challenging times with an equity investment in Bank of Palestine. Under the new investment agreement, Bank of Palestine will issue additional shares, with the EBRD acquiring […]Economics Authors Confront Toughest Questions on Data, History, and Theory
August 22, 2024 by Leave a Comment
This article is published in association with IMF. The Editors Beyond benchmark measures like employment, growth, and inflation, economics encompasses the full spectrum of humanity. It affects—and reflects—everyone. Central bankers may be most acutely aware of this, as well as the high cost for people should they falter in charting the policies to keep prices stable […]Joint press statement of the EU and Fiji on the implementation of the EU-Pacific interim Economic Partnership Agreement
August 21, 2024 by Leave a Comment
This article is brought to you in association with the European Commission. Valdis Dombrovskis, Executive Vice-President of the European Commission and Commissioner for Trade, and Honourable Manoa Kamikamica, Deputy Prime Minister and Minister for Trade, Cooperatives, Micro, Small and Medium Enterprises and Communications of Fiji are pleased to announce the further strengthening of bilateral trade relations, […]Removing the ‘Fiction’, and Other Flaws, from the UK Fiscal Framework
August 20, 2024 by Leave a Comment
This article is published in association with IMF. Fiscal rules have come under a range of criticism in recent years in the UK and elsewhere. In general, the argument of critics has been that they encourage sub-optimal economic policy-making. For example, they have been blamed for forcing countries into counterproductive austerity to not enforcing fiscal sustainability […]Why the world needs a UN global tax convention
August 19, 2024 by Leave a Comment
This article is published in association with United Nations. The global tax system needed reform, and the UN answered the call on Friday with a blueprint for a new universal tax accord that represents an historic step towards changing the financial landscape. The aim is to help nations around the world boost economic growth and achieve […]EBRD arranges €40.1 million financing to Elektroprivreda BiH towards Bosnia and Herzegovina’s green transition
August 15, 2024 by Leave a Comment
This article is published in association with United Nations. The European Bank for Reconstruction and Development (EBRD) is providing a €25.1 million loan to Elektroprivreda Bosne i Hercegovine (EPBiH), the largest public electricity generation and distribution utility in Bosnia and Herzegovina, to develop and construct a 50 MWp solar power plant on a former coal ash […]EBRD lends €70 million to Ukraine postal operator
August 14, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is lending €70 million to Nova Post, a leading private postal and courier operator in Ukraine, to finance its investment programme for 2024. “The loan will support the company’s long-term growth strategy, which envisages a transformation of its […]EBRD lends US$ 60 million to Kazakhstan’s Bank CenterCredit
August 8, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is promoting greater use of green technologies and creating growth opportunities for small firms in Kazakhstan by providing a financial package of US$ 60 million (€55.3 million) to the country’s major private lender, Bank CenterCredit (BCC). The package […]EBRD promotes renewable energy in Tunisia
August 7, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) and the French development agency, Proparco, are promoting the green transition of Tunisia by financing the construction and operation of two solar photovoltaic power plants in the areas of Tozeur and Sidi Bouzid. The EBRD’s financing package consists […]EBRD, donors and Crédit Agricole Egypt boost green investments in Egypt
August 6, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is boosting small businesses and green investments in Egypt with a loan of US$ 20 million (ca.€18.5 million equivalent) to Crédit Agricole Egypt, one of Egypt’s largest commercial banks and a subsidiary of Crédit Agricole Group. The loan, […]Now Is the Time to Help Countries Faced with Liquidity Challenges
August 2, 2024 by Leave a Comment
This article is published in association with IMF. Ceyla Pazarbasioglu, Pablo Saavedra With elevated debt service squeezing the space available to finance much needed investment in many countries, urgent action is needed to boost fiscal space, maintain adequate international support, and reduce debt servicing costs. Many countries are being squeezed by increasing interest payments and high […]EBRD invests in Georgia Global Utilities green Eurobond
August 1, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) has successfully participated in the second green Eurobond issuance by Georgia Global Utilities (GGU), with an investment of US$ 40 million of the total US$ 300 million offering. GGU will invest the proceeds to improve the water-network infrastructure […]Raising Productivity Growth in Central America, Panama and the Dominican Republic
July 30, 2024 by Leave a Comment
This article is published in association with IMF. Opening Remarks by Deputy Managing Director Kenji Okamura at the IMF’s XVIII CAPDR Regional Conference It is my great pleasure to welcome you to the 18th Regional Conference on Central America, Panama, and the Dominican Republic, co-hosted this year with the Central Bank of Costa Rica. I would […]Barbados: EIB and Inter-American Development Bank approve guarantees to support climate and fiscal resilience
July 26, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The Inter-American Development Bank (IDB) and the European Investment Bank (EIB) have approved guarantees totalling $300 million to support an innovative debt-for-climate operation that will help Barbados unlock much-needed resources to invest in critical climate adaptation projects, while safeguarding other priorities such as social spending on health […]A Low-Growth World Is an Unequal, Unstable World
July 24, 2024 by Leave a Comment
This article is published in association with IMF. Long periods of slow economic growth can cause a jump in inequality. But a balanced set of policies can stave off that outcome. Kristalina Georgieva The global economy is stuck in low gear, which could deal a major blow to the fight against poverty and inequality. Group of […]IMF and World Bank Working Together to Scale up Climate Finance
July 18, 2024 by Leave a Comment
This article is published in association with IMF. International Roundtable for Scaling Up Climate Finance for BeninTobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department July 17, 2024 I would like to warmly thank the authorities for hosting this kickoff meeting for scaling up climate finance for Benin. I would also like […]Global Growth Steady Amid Slowing Disinflation and Rising Policy Uncertainty
July 17, 2024 by Leave a Comment
This article is published in association with IMF. Major economies are becoming more aligned, but the world’s medium-term prospects remain weak Pierre-Olivier Gourinchas July 16, 2024 Our global growth projections are unchanged at 3.2 percent this year and slightly higher at 3.3 percent for next year, but there have been notable developments beneath the surface since […]Stop Squeezing the Baseline!
July 16, 2024 by Leave a Comment
This article is published in association with IMF. Holger van Eden Too much. Ok, dear ministry of finance official, a little squeeze is fine, but decreasing existing expenditure commitments to bare bones levels has serious drawbacks. One of the unintended consequences of squeezing too much is that the baseline, the path of expenditure under unchanged policies, […]Emerging Markets Show Resilience Despite Global Monetary Tightening
July 15, 2024 by Leave a Comment
This article is published in association with IMF. Unlike past episodes, emerging market capital flows have remained largely resilient in the face of global monetary tightening, even as global capital flows have fallen Cian Allen, Rudolfs Bems July 12, 2024 Interest rates in the United States are at 20-year highs and the dollar has appreciated sharply against […]Ukraine: EU bank helps improve water supply for war-torn Bucha
July 11, 2024 by Leave a Comment
This article is published in association with European Investment Bank. The newly renovated water supply facility in Bucha, Kyiv Oblast, opened today under the Ukraine Recovery Programme by the European Investment Bank (EIB). This critical upgrade helps the community overcome longstanding challenges in providing reliable, high-quality drinking water. The need for this facility became even more […]Tanzania: Global Gateway – Businesses to Benefit from EU Grant to Boost EIB Global Credit Lines to Local Banks
July 9, 2024 by 1 Comment
This article is published in association with European Investment Bank. The European Investment Bank Vice-President, Mr. Thomas Östros, and the Deputy Ambassador of the European Union to Tanzania, Mr. Emilio Rossetti, have today signed a statement of intent to blend a grant of 15 million EUR (43 billion TZS) from the European Union with 350 million […]EBRD announces settlement with Chinese construction company CGGC
July 4, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) has announced a 35-month sanction of the Chinese construction company China Gezhouba Group Company Limited (CGGC) and its 212 subsidiaries, in connection with fraudulent practice relating to the project Corridor VC – Tunnel Prenj in Bosnia and Herzegovina. […]EIB Global supports SPE’s USD 350m investment in North African growth companies
July 2, 2024 by Leave a Comment
This article is published in association with European Investment Bank. At the EU-Egypt Investment Conference in Cairo the European Investment Bank today confirmed support for a new USD 350 million regional private sector investment fund managed by SPE Capital. The fund is expected to unlock large-scale equity investments in high-growth private companies operating in sectors such […]First EBRD loan to Türkiye’s cement sector to boost low-carbon investments
June 27, 2024 by Leave a Comment
This article is brought to you in association with EBRD. The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to Türkiye’s Cimsa to finance the company’s decarbonisation investment programme. The proceeds of the loan will finance the installation of a solar power plant, a waste heat recovery plant, a new silo […]Global foreign investment declines for second year as geopolitical tensions rise, UN trade body reports
June 21, 2024 by Leave a Comment
This article is published in association with United Nations. Foreign direct investment (FDI) fell by two per cent to $1.3 trillion in 2023 amid global economic slowdown and rising geopolitical tensions, according to a report released on Thursday by the UN trade and development body, UNCTAD. The 2024 World Investment Report highlighted that insufficient funding is hindering […]Central Bank Digital Currencies Can Boost Middle East’s Financial Inclusion, Payment Efficiency
June 19, 2024 by Leave a Comment
This article is published in association with IMF. Serpil Bouza, Marcello Miccoli, Borislava Mircheva Almost two-thirds of countries in the Middle East and Central Asia are exploring adopting a central bank digital currency as a way to promote financial inclusion and improve the efficiency of cross-border payments. Adopting a CBDC, however, requires careful consideration. Countries across […]
