Global Financial Stability: What’s Still To Be Done?

Posted on April 18, 2012 by iMFdirect

The quest for lasting financial stability is still fraught with risks. The latest Global Financial Stability Report has two key messages: policy actions have brought gains to global financial stability since our September report; but current policy efforts are not enough to achieve lasting stability, both in Europe and some other advanced economies, in particular the United States and Japan.

Filed under: Advanced Economies, Economic Crisis, Emerging Markets, Europe, Finance, Financial Crisis, Financial regulation, Financial sector supervision, G-20, IMF, International Monetary Fund | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 5 Comments »

Disappearing Deficits

Posted on March 28, 2012 by iMFdirect

In our work at the IMF, we sometimes discover that governments choose to employ accounting devices—or stratagems that make the deficit smaller without actually causing any pain, and without actually improving public finances. In ideal accounting, this would not be possible. In real accounting, it sometimes is.

Filed under: Advanced Economies, Economic research, Emerging Markets, Financial sector supervision, Global Governance, Globalization, IMF, International Monetary Fund, Low-income countries, Public debt | Tagged: , , , , , , , , , , | 7 Comments »

The Logic and Fairness of Greece’s Program

Posted on March 19, 2012 by iMFdirect

The program deals squarely with the two most fundamental issues facing Greece―not only high debt but also low competitiveness. And it is fair, both in asking for shared sacrifices, not only within Greece, but also between Greece and its creditors.

Filed under: Advanced Economies, Economic Crisis, Economic outlook, Employment, Europe, Financial Crisis, Fiscal policy, growth, IMF, Inequality, International Monetary Fund, Public debt, recession | Tagged: , , , , , , , , , , , | 34 Comments »

Avoiding a Lost Generation

Posted on March 15, 2012 by iMFdirect

Young people were innocent bystanders in the global financial crisis, but they may well end up paying the heaviest price for the policy mistakes that have led us to where we are today. Young people will have to pay the taxes to service the debts accumulated in recent years.

Filed under: Advanced Economies, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Financial Crisis, growth, IMF, Inequality, Low-income countries, Middle East, Public debt, recession | Tagged: , , , , , , , , , , , , , , , , , | 12 Comments »

2011 In Review: Four Hard Truths

Posted on December 21, 2011 by iMFdirect

As 2011 draws to a close, the recovery in many advanced economies is at a standstill, with some investors even exploring the implications of a potential breakup of the euro zone, and the real possibility that conditions may be worse than we saw in 2008. Olivier Blanchard, the IMF’s Chief Economist, draws four main lessons in his year in review.

Filed under: Advanced Economies, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Financial Crisis, Fiscal policy, Fiscal Stimulus, G-20, growth, International Monetary Fund, Multilateral Cooperation, Public debt, recession | Tagged: , , , , , , , , , , , , , , , | 56 Comments »

Christine Lagarde on Sovereign Debt, Growth and Social Instability

Posted on July 26, 2011 by iMFdirect

The IMF chief gave a speech in New York City today that sets out how the IMF can help countries tackle this troika of challenges to the global economy.

Filed under: Advanced Economies, Economic Crisis, Employment, Europe, Fiscal policy, growth, IMF, Inequality, International Monetary Fund, Public debt | Tagged: , , , , , , , , , , , , , , , | 1 Comment »

Between a Rock and a Hard Place: U.S. Fiscal Policy

Posted on July 25, 2011 by iMFdirect

The United States faces two pressing challenges to fiscal policy: raise the debt ceiling, and begin the arduous process of reducing deficits and debt.
And, right now, this leaves U.S. fiscal policy between a rock and a hard place. How much savings should be found and in what form are crucial questions. So is when to put those savings in effect.

Filed under: Advanced Economies, Economic Crisis, Employment, Fiscal policy, growth, IMF, International Monetary Fund, Public debt | Tagged: , , , , , , , , , , , | 5 Comments »

Euro Muscles in Brussels: Christine Lagarde on Greece

Posted on July 22, 2011 by iMFdirect

The head of the IMF Christine Lagarde was clear during her press conference—European leaders deal to help Greece and the euro area is a very constructive and comprehensive package of measures to resolve debt problems.

Filed under: Advanced Economies, Economic Crisis, Europe, IMF, International Monetary Fund | Tagged: , , , , , , , , , , , , , | 2 Comments »

Postcard from São Paulo: the Latest Global Fiscal News–and Some of It’s Actually Good

Posted on June 21, 2011 by iMFdirect

In São Paulo, Brazil last Friday we launched our latest assessment of the state of government finances, debts and deficits. While many countries are slogging through a tough fiscal time, there is some good news, including in the United States ̶ the deficit will be lower this year than previously expected. I will also give you an assessment of how the new information affects our sense of what needs to be done in the future.

Filed under: Advanced Economies, Asia, Economic Crisis, Emerging Markets, Employment, Europe, Fiscal policy, growth, IMF, Latin America, Low-income countries, Public debt | Tagged: , , , , , , , | 1 Comment »

Tough Political Decisions Needed to Fix the Financial System

Posted on June 20, 2011 by iMFdirect

It was fitting that I should present our latest assessment of global financial stability in Sao Paulo, the financial center of one of the leading emerging economies. In common with many of its peers in Latin America, Brazil is recovering strongly from the crisis. But new financial stability challenges are emerging in this, and other fast-growing regions.

I have three key messages:

Financial risks have increased since April

Policymakers in both advanced and emerging economies need to step up their efforts to preserve financial stability and safeguard the recovery.

We have entered into a new phase of the crisis – a political phase- when tough political decisions will need to be made. Time is of the essence.

Filed under: Advanced Economies, Emerging Markets, Europe, Financial Crisis, Financial regulation, IMF | Tagged: , , , , , , , , , , , , , , , , | 5 Comments »

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