Posted on December 2, 2014 by iMFdirect
By Christine Lagarde
(Versions in Español and Português)
I am looking forward to being in Peru this week to discuss economic and social developments with the government and a wide range of stakeholders—and also to follow up on the preparations for the next IMF–World Bank Annual Meetings, which will be held in Lima in October 2015. Later this week, I will participate in the Santiago Conference in Chile, where I will meet policymakers and influential representatives from Latin America and the Caribbean to discuss economic approaches to strengthen the entire region.
As I travel to the land of the Andes, I am reminded of the natural beauty of the region, the richness of its culture, and its incredible diversity. Despite its current challenges—growth continues to slow, as global economic and financial conditions are shifting and economies run up against capacity limits—I remain decidedly optimistic about the region’s potential to raise living standards while protecting its unique heritage and precious environment.
Filed under: Economic outlook, Emerging Markets, Español, Finance, Fiscal policy, Globalization, Government, growth, IMF, International Monetary Fund, Latin America, Reform | Tagged: Caribbean, Chile, Christine Lagarde, commodiity prices, conference, education, health care, inequality, infrastructure, Latin America, Peru, poverty, youth | Leave a comment »
Posted on November 5, 2014 by iMFdirect
By Deniz Igan
(version in Español)
There was a time in the not-so-distant past when science fiction could make us look forward to a better world. We had uplifting visions of the future in shows like Star Trek and Back to the Future. Today, the menu of options only offers a dystopian world ruined by poverty and violence (think The Hunger Games, Divergent, or Elysium).
It sure is easy to get pessimistic these days. Six years after the financial crisis, the recovery in the United States has been fragile and weaker than anything we have seen in the post-WWII period. Growth figures, in large part, have been serial disappointments, disrupted by government shutdowns, debt ceiling showdowns, or meteorologically-triggered slowdowns.
Filed under: Advanced Economies, Economic Crisis, Economic outlook, Economic research, Employment, Financial Crisis, Fiscal, Fiscal policy, Government, growth, Politics, Reform | Tagged: Article IV, deficit, education, global financial crisis, immigration, infrastructure, labor force, recovery, tax reform, United States | Leave a comment »
Posted on October 29, 2014 by iMFdirect
By Bertrand Gruss
(version in Español and Português)
It looks as if labor markets in Latin America have not been following the economic news—literally! Economic activity has slowed markedly in the last three years, with some South American countries slipping into outright recession more recently. Yet, labor markets still appear remarkably strong, with unemployment rates, in particular, hovering at record-low levels in most countries (Figure 1). So, what is going on? Has the region discovered how to defy the law of gravity?
Filed under: Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, growth, IMF, International Monetary Fund, Latin America, Reform, unemployment | Tagged: Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, education, infrastructure, labor market, Latin America, Mexico, Peru, Regional Economic Outlook: Western Hemisphere, South America, unemployment rate, Uruguay | Leave a comment »
Posted on September 8, 2014 by iMFdirect
By Era Dabla-Norris
Much of the debate on inequality focuses on its deleterious social and political effects and its impact on growth. But an equally important issue is what policies play a clear role in reducing income inequality.
The results of our new study suggest that improvements in education—even more than factors such as government expenditure or financial sector development—have contributed in an important way to reducing income inequality within countries.
Filed under: Advanced Economies, Economic research, Emerging Markets, Finance, Globalization, growth, Inequality, International Monetary Fund | Tagged: education, expenditure reform, income inequality, inequality, technology, United States | Leave a comment »
Posted on August 28, 2014 by iMFdirect
By Deniz Igan
(Version in Español)
Something unusual happened this year. For the first time in almost ten years, a book by an economist made it to Amazon’s Top 10 list. Thomas Piketty’s Capital in the Twenty-First Century captured the attention of people from all walks of life because it echoed what an increasing number of Americans have been feeling: the rich keep getting richer and poverty in America is a mainstream problem.
The numbers illustrate the troubling reality. According to the U.S. Census Bureau, 1 in 6 Americans—almost 50 million people—are living in poverty. Recent research documents that nearly 40 percent of American adults will spend at least one year in poverty by the time they reach 60. During 1968–2000, the risk was less than 20 percent. More devastatingly, 1 in 5 children currently live in poverty and, during their childhood, roughly 1 in 3 Americans will spend at least one year living below the poverty line.
Filed under: Advanced Economies, Economic outlook, Economic research, Employment, Financial Crisis, Globalization, IMF, International Monetary Fund, Investment, recession, Reform, unemployment | Tagged: economic recovery, education, health care, jobs, labor market, poverty, poverty reduction, recession, rich and poor, tax, U.S., United States, wages | Leave a comment »
Posted on April 16, 2014 by iMFdirect
By: Sanjeev Gupta and Martine Guerguil
(Version in Español, Français, Русский, 中文, and 日本語)
The global financial crisis brought to the fore the question of sustainability of public finances. But it merely exacerbated a situation that was bound to attract attention sooner or later—governments all over the world have been spending more and more in recent decades. Here at the IMF, we’ve been looking into the factors behind this increase in public spending, particularly social spending, and our latest Fiscal Monitor report discusses some of the options for spending reform.
Filed under: Advanced Economies, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Financial Crisis, Fiscal policy, growth, International Monetary Fund, Low-income countries, Public debt | Tagged: education, expenditure reform, Fiscal Monitor, health care reform, private sector involvement, public finances, reforms | Leave a comment »