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Executive Directors of the International Monetary Fund (IMF) agreed with the thrust of the staff appraisal. They noted that a sharp decline in revenue transfers from the Southern African Customs Union (SACU) and excessive growth in the public sector wage bill have set the stage for a fiscal crisis which threatens external stability and the soundness of the financial sector. The immediate policy challenges are to restore a sustainable fiscal position, regain competitiveness, and strengthen financial sector supervision. Directors welcomed the authorities’ plans on all these fronts, but emphasized the need for more ambitious and sustained efforts to revitalize Swaziland’s economic performance.

Executive Directors of the International Monetary Fund (IMF) noted The Gambia’s continued favorable economic performance in 2010. They welcomed the authorities’ efforts to address the fiscal slippages incurred in the first half of last year and to adjust to a reduced overall resource envelope. Directors encouraged the authorities to maintain fiscal discipline and limit government’s domestic borrowing. Stronger fiscal performance would be important to generate the necessary savings to help finance future infrastructure investment under the government’s envisioned Programme for Accelerated Growth and Employment.

New York: United Nations humanitarian chief Valerie Amos today allocated some $84 million to assist people affected by hunger, malnutrition, disease, displacement and conflict in 15 neglected emergencies around the world.

New York: UN Secretary-General Ban Ki-moon today warned forces loyal to the outgoing Côte d’Ivoire president, who has refused to step down despite his election defeat, that they will be held accountable for their criminal attacks on United Nations peacekeepers in the country.

New York: The Security Council today expressed its appreciation of efforts by the United Nations regional centre for preventive diplomacy in Central Asia to support countries there to respond to regional challenges, including the situation in Kyrgyzstan, and to find solutions for water and energy management issues through cooperation.

New Delhi: The Minister of Shipping Shri G.K. Vasan today launched the Maritime Agenda 2010-2020, a perspective plan of the Shipping Ministry for the present decade.

New Delhi: The Government has reconstituted the Executive and General Council of National Institute of Rural Development (NIRD) Hyderabad with immediate effect for a period of three years. A Notification to this effect has been issued by the Ministry of Rural Development.

New Delhi: There are 82 abandoned mines in the country, which exist prior to framing of rules for progressive mine closure plan and final mine closure plan.

New Delhi: Based on the current level of production and resources estimated, the life index of bauxite resources is estimated at more than 140 years.

New Delhi: Union Finance Minister Shri Pranab Mukherjee held a meeting with different Non Governmental Organizations (NGOs) to get their inputs for General Budget 2011-12, here today. This was the fourth meeting in the series of pre-Budget consultations held by Finance Minister with the stakeholders of different sectors. First meeting was held on 7th January with the stakeholders of agriculture sector followed by meetings with captains of Indian industry on 11th January and representatives of different trade unions yesterday i.e., 12th January, 2011.