Tipping the Scales—Rebalancing Growth in Asia

Posted on April 29, 2011 by iMFdirect

By Anoop Singh

(Version in 中文 and 日本語)

The center of global economic growth is moving from the West to Asia, in particular emerging Asia and China.

But, left unattended, the economic imbalances that have emerged with this shift in power could test the sustainability of global growth.

How to achieve this rebalancing is a key theme of a new book from the IMF, launched in Hong Kong, on Rebalancing Growth in Asia—Economic Dimensions for China.

(more…)

Filed under: Asia, Economic Crisis, Economic outlook, Emerging Markets, International Monetary Fund | Tagged: , , , , , , , , , , , , , , | Comments Off

The Next Phase of Asia’s Economic Growth

Posted on April 28, 2011 by iMFdirect

By Anoop Singh

(Version in 中文,  日本語 and 한국어)

As the economic recovery has matured across much of Asia, the region has continued to be a driving force in the strengthening global recovery. Yet, recent tragic events—around the globe, and the earthquake and tsunami in Japan—are an all too poignant reminder of the fragility of our economic circumstances and, indeed, life.

Much of this weighs on my mind as I am here in Hong Kong to launch our April 2011 Regional Economic Outlook: Asia and Pacific. While the outlook is by no means gloomy, it is an opportune time to consider how Asia should manage the next phase of growth. (more…)

Filed under: Asia, Economic outlook, Emerging Markets, International Monetary Fund | Tagged: , , , , , , , , , , , , , , | Comments Off

Promises, Promises. Better Measuring the Effect of Pension Reform

Posted on April 26, 2011 by iMFdirect

By Benedict Clements

We all hope to retire one day. Our pensions hold the promise of that.

But when that promise is a public pension, it’s also a lot like debt the government has to pay at some point in the future.

Good fiscal policy means thinking about how policy decisions—especially ones that involve long-term promises, such as pensions—affect government finances both today and in the future.

Problems, problems

The first problem is that good fiscal policy hasn’t always ruled the day, to put it mildly. Today, pension reform is a priority for the advanced economies as current trends are unsustainable—see Commandment V—and for many emerging and low-income economies that need “to improve coverage of health and pension systems in a fiscally sound manner.” (more…)

Filed under: Advanced Economies, Emerging Markets, Fiscal policy, International Monetary Fund, Public debt | Tagged: , , , , , , , , | 7 Comments »

Tax Matters for Developing Countries

Posted on April 22, 2011 by iMFdirect

By Carlo Cottarelli

You hear a lot these days—not least from me—about the fiscal problems of advanced economies. But let’s not forget the fiscal problems that low-income countries face, though they are of a different kind.

For all too many low-income countries, government tax revenues are far from enough to meet the needs of their people. Some have made good progress, and this helped them weather the crisis better than many advanced economies—but there is an underlying, quiet crisis of inadequately resourced governments. (more…)

Filed under: Asia, Fiscal policy, International Monetary Fund, Latin America, Low-income countries | Tagged: , , , , , , , , , , , , , | 3 Comments »

Connecting the Dots Between Global Risks

Posted on April 21, 2011 by iMFdirect

By iMFdirect

Finance ministers and central bank governors from around the world, gathering at the Spring Meetings of the IMF and World Bank in Washington last week, identified a slew of continued and emerging risks to the global economy, including higher food and fuel prices, the disaster in Japan, unrest in the Middle East, lingering unemployment in parts of the world, and the risk of overheating in some dynamic emerging markets.

With the recovery solidifying but still fragile, ministers put the spotlight on how to strengthen the IMF’s surveillance—its economic assessment and analysis—to help countries take the action needed to address risks and avoid future crises. (more…)

Filed under: Annual Meetings, Economic Crisis, Financial Crisis, IMF, International Monetary Fund | Tagged: , , , , , , , , , , | 2 Comments »

Global Challenges, Global Solutions

Posted on April 14, 2011 by iMFdirect

By iMFdirect

The IMF-World Bank Spring Meetings are upon us here in Washington DC.

With global challenges that require global solutions—the theme of the meetings—IMF Managing Director Dominique Strauss-Kahn reminds us that this is “not the time for complacency.”

Government ministers and officials, members of civil society organizations, journalists, and others are flocking to Washington DC this week to discuss and decide on key issues facing the global economy. (more…)

Filed under: Annual Meetings, Civil Society, Economic outlook, Employment, IMF, Inequality, International Monetary Fund, Multilateral Cooperation | Tagged: , , , , , , , , , , , , , , | 3 Comments »

Avoiding Another Year of Living Dangerously: Time to Secure Financial Stability

Posted on April 13, 2011 by iMFdirect

By José Viñals

In various guises, the “Year of Living Dangerously” has been used to describe the global financial crisis, the policy response to the crisis, and its aftermath.

But, we’ve slipped well beyond a year and the financial system is still flirting with danger. Durable financial stability has, so far, proven elusive.

Financial stability risks may have eased, reflecting improvements in the economic outlook and continuing accommodative policies. But those supportive policies—while necessary to restart the economy—have also masked serious, underlying financial vulnerabilities that need to be addressed as quickly as possible. (more…)

Filed under: Advanced Economies, Emerging Markets, Financial Crisis, Financial regulation, Financial sector supervision, International Monetary Fund | Tagged: , , , , , , , , , , , , , , , , , , , | 5 Comments »

Shifting Gears: Where the Rubber Meets the Fiscal Road

Posted on April 12, 2011 by iMFdirect

By Carlo Cottarelli

Undertaking a sizable fiscal adjustment is a lot like driving up a tall mountain: it’s hard work, it can take a long time, and you don’t want to run out of fuel partway up the incline. Countries are starting the climb, cutting back government deficits and debt levels, but according to our analysis often current plans aren’t enough to get countries where they need and want to go.

The plans in place are large by historical standards, which brings with it difficult choices, and particular risks and uncertainties. Let me fill you in on what these are. (more…)

Filed under: Economic Crisis, Fiscal policy, International Monetary Fund, Public debt | Tagged: , , , , , , , , , , , , | 1 Comment »

Global Recovery Strengthens, Tensions Heighten

Posted on April 11, 2011 by iMFdirect

By Olivier Blanchard

The world economic recovery is gaining strength, but it remains unbalanced.

Three numbers tell the story. We expect the world economy to grow at about 4.5 percent a year in both 2011 and 2012, but with advanced economies growing at only 2.5 percent, while emerging and developing economies grow at a much higher 6.5 percent.

On the good news side. Earlier fears of a double dip—which we did not share—have not materialized. (more…)

Filed under: Advanced Economies, Economic Crisis, Economic outlook, Economic research, Emerging Markets, International Monetary Fund, Low-income countries | Tagged: , , , , , , , , , , , , , , , , , , , | 8 Comments »

Next Page »
Follow

Get every new post delivered to your Inbox.

Join 463 other followers

%d bloggers like this: