News published on Globe Banner in July 2024

On July 18, 2024, five federal regulatory agencies issued final guidance on reconsiderations of value (ROVs) for residential real estate transactions. The guidance advises financial institutions on policies and procedures to allow consumers to provide information that may not have been considered during an appraisal or if deficiencies are identified in the original appraisal.

Moroccan economy shows resilience amid global challenges but faces internal hurdles

RABAT, July 18, 2024 — Despite various obstacles, including a slowdown in the global economy, an inflation shock, and the Al Haouz earthquake, the Moroccan economy has shown resilience and accelerated with real output increasing by 3.4 percent in 2023, according to the World Bank's latest economic monitor for the country.

WTO updates progress on dispute settlement reform efforts

Ambassador Dwarka-Canabady addressed a Heads of Delegation meeting, the third since the formal dispute settlement reform process began earlier this year. "We know what we need to do," she stated. "We know we have to accelerate work. We need to find the best way of doing that to keep the process inclusive."

Uzbekistan empowers villages through community-driven development projects

Nearly half of Uzbekistan’s 37 million population resides in rural areas, where access to clean drinking water, quality healthcare services, and education outcomes are often limited. These disparities particularly affect women and children.

U.S issues caution ahead of Bratislava Pride festival amid security concerns

Bratislava is set to host its annual PRIDE festival, including a march parade and various events from July 19 to 21.

WTO releases documents for China's trade policy review

The following documents are available regarding the Trade Policy Review of China:

Morocco's economy grows despite challenges; private sector faces productivity issues

The Moroccan economy expanded by 3.4% in 2023 despite global economic headwinds, an inflation surge, and the Al-Haouz earthquake. Growth was propelled by a tourism rebound, strong manufacturing exports, and increased private consumption, supported by sound macroeconomic policies. Foreign direct investment (IDA) inflows grew, and the current account deficit shrank to its lowest since 2007. Challenges remain, with per capita consumption just reaching pre-pandemic levels and a new social aid program to assist vulnerable households. Growth is expected to slow to 2.9% in 2024,...

Binance investigator: 'We greatly value the trust of our law enforcement partners'

Carlos Mak, a specialist on the Binance Investigations team, stated that many of his colleagues' backgrounds in law enforcement enhance their collaboration with partners in the field. Mak shared his statement in a July 11 post on Binance's website about the company's Law Enforcement Training Program.

Western Balkan economies urged to invest $37B in climate resilience

VIENNA, July 17, 2024 – The six economies of the Western Balkans need to collectively invest at least $37 billion over the next decade to effectively protect people and property from the damaging impacts of climate change, according to the World Bank Group’s Western Balkans regional Country Climate and Development Report (CCDR), released today.

Uganda combines economic ecological advancement amid pandemic pressures

When the COVID-19 pandemic impacted global economies in early 2020, Uganda's forests and national parks faced increased pressure from illegal extraction as nearby communities struggled to sustain their livelihoods. The tourism sector, which had been growing, came to a halt, reducing funds for conservation activities.

India's drive towards becoming a global business destination through enhanced logistics

An efficient logistics sector is pivotal for India to become a globally preferred business destination. It reduces manufacturing costs, makes businesses more competitive, and links them with global value chains, boosting the Make in India initiative. The sector is also one of India’s largest employers, employing over 22 million people.

Agencies issue final rule on automated valuation models under Dodd-Frank Act

Six federal regulatory agencies issued a final rule on July 17, 2024, aimed at ensuring the credibility and integrity of models used in valuations for certain mortgages secured by a consumer’s principal dwelling. This action is pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rule will implement quality control standards for automated valuation models (AVMs) utilized by mortgage originators and secondary market issuers.

Western Balkans report outlines $69 billion investment plan for climate neutrality by 2050

The Western Balkans 6 Country Climate and Development Report (CCDR) examines how the region can enhance climate adaptation and reduce greenhouse gas emissions while continuing to meet broader development goals. This comprehensive report covers six economies of the Western Balkans: Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia.

Tajikistan's robust growth tempered by structural challenges

The Tajikistan Economic Update is an annual report that analyzes recent economic developments, prospects, and policy issues in Tajikistan.

Key highlights from CPIA Africa report on structural reforms

The Country Policy and Institutional Assessment (CPIA) for Africa is an annual diagnostic tool for Sub-Saharan African (SSA) countries eligible for financing from the International Development Association (IDA), a part of the World Bank that assists low-income countries by providing grants and low to zero-interest loans. The CPIA Report aims to capture the quality of each country’s policies and institutional arrangements, focusing on elements within the country’s control. The scores assess sustainable growth and poverty reduction supported through existing frameworks.

Tanzania's integrated justice centers improve access for women and families

DAR ES SALAAM, July 16, 2024 — Fatuma Mbaruku, a 38-year-old mother of four, traveled from Azimio to the Temeke Integrated Justice Center to file for custody and support for her children following her 2023 divorce.

Caribbean institute launches platforms to boost environmental sustainability

Port of Spain, 28 June 2024 – In 2023, the Caribbean Natural Resources Institute (CANARI) launched two online platforms aimed at enhancing environmental stewardship and sustainable development efforts across the Caribbean. The Caribbean Resilience Knowledge Platform and the Caribbean Local Green-Blue Enterprises (LGEs) Knowledge Platform serve as dynamic hubs for individuals, communities, and organizations to share knowledge, ideas, and solutions.

Jamaican farmers adapt to climate change with new strategies

Arlette Dunkley-Fullerton, a farmer in Jamaica's Cockpit Country Key Biodiversity Area (KBA), has observed significant changes in rainfall patterns and crop growing seasons over the past 20 years. "The work that Jamaica Environment Trust did to help us plan for climate change in our area was not just informative about climate change, it was an eye-opener, especially for the group members," says Arlette, who is also Vice President of the South East Cockpit Country Local Forest Management Committee Benevolent Society.

World Bank stresses need for competitive neutrality in Tajikistan's economic growth

Tajikistan's economy has demonstrated significant growth in recent years, with an expansion of 8.3% in 2023 and 8.2% in early 2024, according to the World Bank’s latest Tajikistan Economic Update released today. The report attributes this growth to increased revenues from gold exports and substantial public infrastructure spending. Additionally, robust worker remittances and public wage increases have bolstered domestic demand, contributing to overall poverty reduction.

New CPIA report highlights Sub-Saharan Africa's resilience amid global shocks