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The Executive Board of the International Monetary Fund (IMF) today approved the fourth review of Liberia's economic performance under its Extended Credit Facility (ECF) (formerly Poverty Reduction and Growth Facility) arrangement. The approval enables Liberia to draw an amount equivalent to SDR 4.44 million (US$6.55 million) immediately, bringing total disbursements under the arrangement to an amount equivalent to SDR 230.14 million (US$339.25 million). The SDR 239.02 million (about US$352 million) ECF arrangement for Liberia was approved by the Executive Board on March 14, 2008.

KOLKATA: This may come as a surprise to Indian policymakers, but apparently the ruling Awami League is not much different from its main opposition, Bangladesh Nationalist Party, when it comes to buying arms from abroad: the most preferred destination is still China, not India.

A sudden change of tune in Beijing on the yuan exchange rate has perhaps averted a potentially divisive issue posing a new risk to the solidarity of G-20 at its fourth Summit in Toronto (June 26-27). At last, Beijing yielded to US pressures for allowing greater flexibility to its renminbi exchange rate, pegged to the dollar for two years, by announcing a move toward “managed floating exchange rate”, thus heading off immediate threats of trade actions by US Congress.

The African Water Facility's (AWF) Effectiveness Assessment Committee meeting took place on Friday, 18 June 2010 at the African Development Bank (AfDB)'s temporary relocation headquarters in Tunis. The purpose of the meeting was to enable the committee to review the draft Assessment Report submitted by the consultants Hydroconseil/WEDCC (Water Engineering and Development Center), and to provide input to the Consultant for revision of document.

New York: Encouraging reconciliation between warring political groups and boosting basic public security are critical to stabilizing Somalia, the incoming United Nations envoy to the troubled Horn of Africa country has said.

New York: Nearly a million people in rural Nepal have access to energy thanks to two United Nations development programmes which show that early investment by national governments and communities can attract private financing and extend access to utilities, according to a UN report.

New York: Nepal has become the latest country to sign a United Nations convention designed to safeguard intangible cultural heritage, such as folklore, oral traditions, social rituals and the performing arts, the UN Educational, Scientific and Cultural Organization (UNESCO) has reported.

New York: Agroecological farming, which improves food production and farmers' incomes while at the same time protecting the soil, water and climate, could feed an estimated world population of nine billion people by 2050 and go a long way to save the climate, if implemented now, experts at a United Nations seminar have concluded.

New York: Investments in agriculture in developing countries can be structured in a way that they become an alternative to large-scale land acquisitions to ensure that small-scale farmers do not lose their land rights, according to the findings of a new United Nations-backed study.

A mission from the International Monetary Fund (IMF) visited Djibouti from June 2-9, 2010 to discuss progress under the Extended Credit Facility (ECF), which replaced the Poverty Reduction and Growth Facility (PRGF) approved in September 2008.