Posted on September 2, 2014 by iMFdirect
By Jeff Hayden
You can call this edition of F&D magazine our Bob Dylan issue. It may seem odd for an economics magazine to draw inspiration from the legendary singer/songwriter, but one of his most famous lines, “The times, they are a-changin,’” reverberated through our corridors as we put together this special issue on the global economy’s past and future.
We weren’t humming the tune to pass the time. The lyrics seemed especially relevant to us this year, as we mark the 70th anniversary of the IMF and World Bank and the 50th anniversary of F&D. The world has seen a staggering amount of change in the past seven decades.
So, with these two anniversaries in mind and with Dylan’s ode to changing times in the air, we focused our attention on the transformation of the global economy—looking back and looking ahead. We wanted to address the question, what will the global economy look like in another 70 years?
Filed under: Economic outlook, Economic research, Financial Crisis, Globalization, growth, IMF, Inequality, International Monetary Fund, Reform | Tagged: Christine Lagarde, energy, Finance & Development magazine, Finance & Development. F&D, George Akerlof, global economy, inequality, Joseph Stiglitz, Ken Arrow, Michael Spence, Nobel Prize, Olivier Blanchard, Paul Krugman, Robert Solow, SGP. Martin Wolf | Leave a comment »
Posted on June 9, 2014 by iMFdirect
By Sanjeev Gupta and Enrique Flores
(Versions in Español)
The Finance Minister answers her mobile. On the line is the Minister of Energy, who informs her that the country has struck oil and that he expects revenues from its sale to start flowing into the budget in the coming four years. While excited by the prospects of higher revenues—indeed the average resource-rich country gets more than 15 percent of GDP in resource revenues—she starts to ponder how to use these revenues for her country’s development. She is aware that only in rare cases have natural resources served as a catalyst for development; too often they have led to economic instability, corruption, and conflict or what has been termed as “the resource curse.”
Filed under: Economic research, Finance, Financial regulation, Fiscal policy, growth, IMF, International Monetary Fund, Investment, Reform | Tagged: Alaska, budget, energy, income, income distribution, macroeconomics, natural resources, Nigeria, oil, resource wealth, subsidies, wealth | Leave a comment »
Posted on April 30, 2014 by iMFdirect
By Reza Moghadam
(Version in Русский and Español)
Even before geopolitical tensions unleashed currency flight, bank deposit withdrawals and surging risk premiums, Ukraine faced serious challenges. The crisis there has been years in the making, reflecting deep structural problems that left it vulnerable to periodic funding shortfalls and near the bottom of transition country league tables. Thus, any program to tackle the immediate crisis in Ukraine must inevitably come to grips with this legacy.
Filed under: Advanced Economies, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Financial Crisis, Fiscal policy, growth, IMF, International Monetary Fund, Politics | Tagged: energy, euro area, exchange rate flexibility, fiscal policy, Russia, transparency, Ukraine | Leave a comment »
Posted on December 19, 2013 by iMFdirect
By Jeffrey Franks
(Version in اردو)
Following my most recent visit to Pakistan I noticed there seem to be many different and contradictory views about the government’s reform agenda supported by the IMF program. This piece addresses some of the key concerns on people’s minds.
1. The IMF dictated the content of the program.
The government mostly produced the policies supported in this program, which respond to key challenges facing Pakistan today.
The economic section of the PML-N party manifesto shows that most of the policies agreed with the IMF were actually those proposed by Prime Minister Sharif and his team before the elections, such as: fiscal consolidation, tax reform, measures to tackle the energy crisis, restructuring and privatizations of public sector enterprises, trade policy reforms, and steps to boost the investment climate.
Filed under: Asia, Emerging Markets, Finance, growth, IMF, International Monetary Fund, Low-income countries | Tagged: energy, Pakistan, recession, taxes, United States | Leave a comment »
Posted on March 18, 2013 by iMFdirect
By Christine Lagarde
(Version in عربي)
I was in Algiers last week, my first time as the Managing Director of the IMF. It was a good visit: we reaffirmed the special partnership between Algeria and the IMF, and I was able to gain a deeper insight into Algeria’s aspirations—and also its challenges in reaching a hopeful future.
Filed under: Africa, International Monetary Fund | Tagged: Algeria, budget, business leaders, Christine Lagarde, civil society organizations, debt levels, economy, employment, energy, external deficits, gas, grwoth, IMF, iMFdirect, inclusive growth, inflation, International Monetary Fund, jobs, labor market policies, oil, private sector, productivity, subsidies, women, youth unemployment | Leave a comment »
Posted on June 27, 2012 by iMFdirect
Our top links for June, 2012 from iMFdirect blog and others:
Filed under: Advanced Economies, Africa, Asia, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Employment, Europe, Finance, Financial Crisis, Fiscal policy, Globalization, growth, Inequality, International Monetary Fund, Investment, Latin America, LICs, Middle East, Multilateral Cooperation, Politics, Public debt | Tagged: Africa, Arab, Asia, Brazil, China, Cote d’Ivoire, debt relief, energy, environment, euro, Facebook, Finance & Development magazine, Google+, green, imbalances, iMFdirect blog, India, inequality, Japan, LICs, Middle East, oil, poor, Top links | 2 Comments »