2010 Outlook: New Year, New Decade, New Challenges


By John Lipsky

The year 2010 has opened amid generalized—–but tempered—optimism about the global economic and financial outlook.

 The unprecedented scale and scope of the anti-crisis measures taken during the past year—and the unprecedented degree of multilateral policy coordination involved in their design and implementation—appear to have succeeded in averting a downturn of historic proportions.

 The improved prospects are evident in economic data, in financial market performance, and in the marking up of economic forecasts. In fact, somewhat more upbeat expectations no doubt will be reflected in the regular January update of the IMF’s World Economic Outloook forecast.

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