Posted on October 13, 2011 by iMFdirect
By Nemat Shafik
(Version in عربي)
Of the three main pillars of the IMF’s work, technical assistance has been a sort of middle child; it doesn’t get the attention of the oldest and youngest children, yet in many ways is the glue that holds the family together.
The other two pillars are well known: we lend money to countries in times of need and crisis, and conduct annual check-ups of their economies and financial systems, known as surveillance.
As countries around the world cope with the global economic crisis, the IMF’s technical assistance is a vital part of the work that we do to help countries prevent, prepare for and resolve crises. Technical assistance also helps countries master the form and details to govern themselves in an effective and legitimate way. (more…)
Filed under: Advanced Economies, Africa, Economic Crisis, IMF, International Monetary Fund, Low-income countries | Tagged: advanced economies, Africa, capacity building, civil society organizations, crisis prevention, donor countries, global economic crisis, IMF, International Monetary Fund, low-income countries, regional technical assistance centers, technical assistance, training | 20 Comments »
Posted on October 13, 2011 by iMFdirect
By Anoop Singh
(Versions in 中文, 日本語)
Recent large equity sell-offs across Asia and safe haven flows into Japan illustrate perfectly the region’s vulnerabilities to further global shocks. While the region’s fundamentals—built up over the past decade—remain relatively strong, economic uncertainties in Europe and the United States pose large downside risks.
The world economy has entered a dangerous new phase and, as the IMF’s Managing Director stated recently, “what makes the situation all the more urgent is that it has implications for every country.”
Our Regional Economic Outlook for Asia and the Pacific emphasizes these risks, and stresses the need for policymakers to remain vigilant and nimble in this extraordinarily uncertain climate. The view from here in Tokyo—looking out at the region—may be more serene than the view from other advanced country capitals, but there are storm clouds on the horizon. (more…)
Filed under: Asia, Economic outlook, Emerging Markets, Europe, growth, IMF, Inequality, International Monetary Fund, Low-income countries | Tagged: credit growth, derivative markets, domestic demand, downside risks, economic rebalancing, external shocks, foreign investors, global demand, iMFdirect, inclusive growth, inflation, infrastructure investment, International Monetary Fund, monetary policy, overheating, Regional Economic Outlook: Asia and Pacific, stressed banks, unemployment | 1 Comment »
Posted on October 5, 2011 by iMFdirect
By Nicolás Eyzaguirre
(Version in Español)
As the European crisis lingers and advanced economies stall, the next six to eighteen months will be challenging for Latin America. Increased global uncertainties may create headwinds for the region—greater stress in the global economy and markets—tailwinds, if the advanced countries’ problems are tackled and economies spring back to life, or volatile gusts—weak growth and continued uncertainty—like we are seeing now.
But it’s not easy to forecast the future of Latin America in these uncertain times, as we discuss in our just-published Regional Economic Outlook for Western Hemisphere. (Here I focus on Latin America, but our report covers the whole region, including North America, Central America, and the Caribbean.)
Today’s global uncertainties are virtually unprecedented. But then again, much of Latin America is stronger today than in past decades. (more…)
Filed under: Economic outlook, Economic research, International Monetary Fund, Latin America | Tagged: commodity prices, current account deficits, financial market turbulence, financial risks, financial system, fiscal consolidation, global financial markets, government budgets, iMFdirect, inflation, International Monetary Fund, liquidity, monetary policy, Regional Economic Outlook: Western Hemisphere | 5 Comments »