This past weekend in Washington DC, as the economic leaders of 187 countries gathered for the Annual Meetings of the IMF and World Bank, the mood was tense. The world’s finance ministers and central bank governors were concerned because the global recovery is fragile. And uneven. And it is fragile because it is so uneven.
In the emerging markets of Asia, Latin America, and the Middle East, things are going pretty well. Even in Africa, many countries have returned to growth much faster than in previous recessions. In Europe, however, the recovery is sluggish. And in the United States, it remains subdued. The IMF’s latest economic outlook, released during the meetings, does not anticipate a “double dip.” But there are risks. Continue reading
Filed under: Advanced Economies, Annual Meetings, G-20, IMF, International Monetary Fund, Multilateral Cooperation, عربي | Tagged: Annual Meetings, balanced and sustainable growth, cooperation, cross-border linkages, currency wars, double dip, financial sector reform, fiscal sustainability, G-20, global recovery, governance, IMF quotas, IMF/World Bank Annual Meetings, IMFC, International Monetary and Financial Committee, jobs, policy coordination, spillovers, unemployment | 10 Comments »