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Executive Directors of the International Monetary Fund (IMF) has said that Gabon is on a path of recovery from the global crisis. Looking ahead, the key challenge will be preparing the economy for the post-oil period through economic diversification, increased external competitiveness, and poverty reduction. Directors stressed the importance of maintaining long-term fiscal sustainability, improving the business environment, and strengthening the financial sector as key pillars of the authorities’ strategy to transform Gabon into an emerging economy.

An IMF team visited St. Johns during February 28 – March 4 to undertake the third review of the program under the Stand-By Arrangement (SBA) approved by the Fund’s Executive Board on June 7, 2010. The mission held meetings with Minister of Finance Hon. Harold Lovell, Minister of Tourism Hon. John Maginley, senior officials of the Ministry of Finance, members of Parliament, and representatives from labor unions and from the local business community.

New York: A senior United Nations official today cautioned that the failure to tackle poverty can only lead to rising social tensions, ecological pressures and economic crisis, stressing the importance of a transition to a “green economy” that fosters sustainable development and poverty eradication.

New Delhi: India and ASEAN group of nations called for greater physical, cultural and people-to-people connectivity in the region in the coming years.

LUCKNOW: Bharatiya Janata Party is trying hard to prepare its road map for revival of its electoral fortunes in Uttar Pradesh where it ruled for a considerable number of years. The two day meeting of the state executive of the Party held in Meerut adopted a programme of campaign to expose the failures of the Mayawati Government on all fronts and highlight the deterioration of law and order situation in the state.

The post-budget stock market has moved predictably. The Bombay Stock Exchange (BSE) 30-share index (Sensex) rose 623.10 points to 18,446 on March 1, the day after Finance Minister Pranab Mukherjee presented the union budget for 2011-12 before the joint session of Parliament. The market recorded the biggest single day gain in the previous 22 months. Without exception, all the 30 shares in the index gained. The National Stock Exchange’s (NSE) 50-share index (Nifty) gained 3.54 per cent, marginally outshining even the Sensex jump of 3.50 per cent. The union budget proposals had done the job. The most important driver of the market was the government’s permission to domestic mutual funds operators to raise money in equities from foreign investors directly. Investors across the world can now invest in Indian mutual funds.

TOKYO, JAPAN - More effective and efficient institutions are needed to complement Asia's market-driven regional integration and to manage the challenges of Asia's expanding role in the global economy, says a new joint study of the Asian Development Bank (ADB) and the Asian Development Bank Institute (ADBI).

New York: A joint delegation of the United Nations, the African Union (AU) and the Economic Community of West African States (ECOWAS) officials today backed calls for delaying Benin’s presidential poll, scheduled for Sunday, to allow time to ensure that the electoral process is credible.

New York: The United Nations envoy for children and armed conflict today called for a thorough review of procedures after NATO air strikes killed nine children in Afghanistan’s eastern Kunar province on Tuesday.