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New York: Overcoming the serious weaknesses exposed by the global economic crisis will not be easy and will require a major overhaul of the machinery for international finance, aid and trade, according to a new United Nations report.

A team from the International Monetary Fund (IMF) led by Mrs. Veronica Bacalu has conducted the annual Article IV consultation with the Government of Turkmenistan during June 16−29, 2010. During the visit, the IMF team held discussions with the Turkmen authorities on recent economic developments, exchanged views on near and medium-term outlook, and took stock of the ongoing reforms. In cooperation with the Central Bank of Turkmenistan, the team organized a seminar on the global and regional economic outlook.

New York: Issues surrounding energy and the environment continue to be a priority area for collaboration between Azerbaijan and the United Nations Industrial Development Organization (UNIDO), the body's head has stressed.

New York: Elderly people have an ally in the United Nations World Health Organization (WHO), which has launched a new scheme to ensure that they can remain active and healthy in the world's cities.

New York: An independent United Nations expert has urged Israel to prevent further rights violations in East Jerusalem, warning that population transfers in or from occupied territory are war crimes under international law.

The Austrian economy is recovering from its recession. A combination of a trade and financial shocks and a related sharp contraction of investment resulted in a fall in GDP by 3 ½ percent in 2009, in spite of consumption remaining resilient. In line with the recovery in world trade, growth picked up in the second half of 2009 and is projected to be around 1 ½ percent in 2010 and 2011. Confidence has also improved in the financial sector, as evidenced by lower credit spreads. However, uncertainties are elevated and relate mainly to outside real and financial developments.

COIMBATORE: The textile industry in India has been able to come out of the recessionary trend since last year and has now stabilized and there are indications that this sector would have positive growth this year, says textile expert.

WASHINGTON — The World Bank has approved a US$100 million credit for Kenya to improve the delivery of essential health services to its people, especially the poor.

WASHINGTON - The World Bank Board of Executive Directors have approved an International Development Association grant equivalent to US$255 million to promote good governance and consolidate macroeconomic stability and economic growth in the Democratic Republic of Congo (DRC) through the rehabilitation of key transport infrastructure which, in turn, will help improve the provision of social services and reduce vulnerability of the poor.

WASHINGTON ― The World Bank Group has approved an additional US$70 million for the Electricity Company of Ghana (ECG) under the Ghana Energy Development and Access Project (GEDAP).