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The Executive Board of the International Monetary Fund (IMF) completed the sixth review of The Gambia's economic performance under a program supported by the Extended Credit Facility (ECF) and approved a waiver for the nonobservance of the fiscal performance criterion based on corrective actions, notably the government's 2010 budget approved by the National Assembly, which aims for a near-zero basic balance.

The Executive Board of the International Monetary Fund (IMF) completed the second and third reviews of Romania's economic performance under a program supported by a 24-month Stand-By Arrangement (SBA) which enables the country for immediate disbursement of SDR 2.18 billion (about €2.45 billion or about US$3.32 billion), bringing total disbursements under the program to SDR 8.26 billion (about €9.32 billion or about US$12.60 billion).

New York: The United Nations Development Programme (UNDP) has pledged $25 million to strengthen credible national institutions like parliaments, human rights organizations and anti-corruption commissions in developing countries during 2010, with more than half going for elections in Sub-Saharan Africa.

The International Monetary Fund (IMF), as Trustee of the Poverty Reduction and Growth Trust (PRGT), has signed a borrowing agreement with the Danmarks Nationalbank, through which Denmark will provide the PGRT with SDR 200 million (about US$305 million) in new loan resources for low-income countries.

New York: East Asia's economically viable coastal habitats and ecosystems are under threat from pollution, alien invasive species and other factors which could impact the region's poverty levels unless urgent action is taken, the United Nations Environment Programme (UNEP) said in a new report.

The Executive Board of the International Monetary Fund (IMF) decided today to restore Zimbabwe's voting and related rights, and its eligibility to use resources from the IMF's General Resources Account (GRA), following a request from Zimbabwe's Finance Minister Tendai Biti.

New York: Nearly 20,000 people have been uprooted from their homes in the Somali capital by renewed clashes between the forces of the Transitional Federal Government (TFG) and opposition groups since the start of February, the United Nations refugee agency has reported.

The Executive Board of the International Monetary Fund (IMF) today approved a three-year, SDR 52.05 million (about US$79.4 million) arrangement for Malawi under the Extended Credit Facility (ECF) to support the authorities' economic program for the period 2010-2012.

New York: The United Nations refugee agency has called on all African Union (AU) member countries to follow Uganda's example and ratify the first legally binding international treaty to provide legal protection and aid to millions of people displaced within their own countries by conflicts and natural calamities.

Following a period of modest economic growth, St. Lucia was severely impacted by the global downturn. Real GDP contracted sharply in 2009 after expanding on average by about 3 percent during the previous 5 years, when tourism became a more prominent sector and resulted in Foreign Direct Investment-related (FDI) construction. Inflation is estimated at one percent in December 2009 (from 7 percent in 2008), reflecting a decline in international food and fuel prices, as well as weaker domestic demand.