Latin America—Taking the Helm

Posted on November 25, 2011 by iMFdirect

The new Latin America can provide some lessons to the advanced countries—such as saving for a rainy day, and making sure that risks in the banking system are under control. Of course, Latin America is not immune to any storms that come out of Europe. No one is. In our interconnected world, there is simply nowhere to hide. And so countries in the region should take all necessary precautions and make all needed preparations.

Filed under: Economic Crisis, Economic outlook, Emerging Markets, Español, Europe, Fiscal policy, G-20, Globalization, growth, IMF, Inequality, Latin America | Tagged: , , , , , , , , , , | 12 Comments »

Shared Frustrations: How to Make Economic Growth in Sub-Saharan Africa More Inclusive

Posted on October 19, 2011 by iMFdirect

Suddenly it’s the thing everyone is talking about. Income inequality. In North Africa and the Middle East, jobless youth sparked the Arab Spring. In the United States, the growing gap between rich and poor is the “meta concern” of the Occupy Wall Street movement. Worldwide, frustrations appear to be on the rise.

And, in sub-Saharan Africa, sustained economic growth may have produced tremendous advances, but a large proportion of the population is still living in poverty. Here, the underlying situation is a little more complex.

In July, I wrote about the importance of inclusive growth and whether economic growth was a necessary or a sufficient condition for poverty reduction. Our latest Regional Economic Outlook for Sub-Saharan Africa takes that thinking a step further, with new analysis that looks at how living standards for the poorest households have actually been changing in some countries in the region.

Filed under: Africa, Economic outlook, Français, growth, Inequality, International Monetary Fund | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , | 3 Comments »

The Other Rebalancing: Asia’s Quest for Inclusive Growth

Posted on October 17, 2011 by iMFdirect

For the past two or three decades, rising inequality—inequality of incomes, of economic outcomes and of economic opportunities—has taken a back seat to the goal of boosting overall growth. But growing discontent with the fallout of the global financial crisis has put inequality back on top of the policy agenda. While the symptoms may be different, tackling inequality is no less an issue in Asia. Indeed, research shows that inequality can be counterproductive to sustaining longer-term growth. So, in increasingly turbulent global economic times, this gives added importance to promoting shared—or inclusive—growth in Asia that is more likely to be sustained.

This has been a major focus our latest Regional Economic Outlook, which we presented in Manila today. A great challenge for the government here, and for other countries across the region, is to raise living standards for a wide section of their populations.

Filed under: Asia, Economic outlook, growth, Inequality, International Monetary Fund, 日本語, 中文 | Tagged: , , , , , , , , , , , , , , , , | 1 Comment »

Haves and Have Less—Why Inequality Throws Us Off Balance

Posted on September 14, 2011 by iMFdirect

We used to think that overall economic growth would pull everyone up. While the rich might be getting richer, everyone would benefit and would see higher living standards. That was the unspoken bargain of the market system. But now research is showing that, in many countries, inequality is on the rise and the gap between the rich and the poor is widening, particularly over the past quarter-century.

Filed under: IMF, Inequality, International Monetary Fund | Tagged: , , , , , , , , , , , , | 3 Comments »

iMFdirect—Our Top 10 Posts

Posted on August 21, 2011 by iMFdirect

As iMFdirect looks back at two years since our blog on global economics was launched in August 2009, we’ve compiled a list of the posts that have drawn the most attention.

Filed under: Advanced Economies, Africa, Asia, Economic Crisis, Economic outlook, Economic research, Europe, Financial Crisis, Financial regulation, Financial sector supervision, Fiscal policy, G-20, Globalization, growth, IMF, Inequality, International Monetary Fund, Latin America, LICs, Middle East, Multilateral Cooperation, Public debt, recession | Tagged: , , , , , , , , , , | 1 Comment »

Seven Pillars of Prosperity—Diversifying Economic Growth in the Caucasus and Central Asia

Posted on May 5, 2011 by iMFdirect

Medium-term economic growth prospects in the Caucasus and Central Asia region are strong. But, to secure ongoing prosperity, the eight countries of the region—Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan—will need to look beyond traditional sources of growth.

The challenge for policymakers will be to foster new and more diverse growth drivers, outside mining, oil, and gas. There are seven policy pillars that can help them do that, including strengthening economic and financial ties within the region.

Filed under: Economic outlook, Emerging Markets, International Monetary Fund | Tagged: , , , , , , , , , , , , , , , , | 3 Comments »

Tipping the Scales—Rebalancing Growth in Asia

Posted on April 29, 2011 by iMFdirect

The center of global economic growth is moving from the West to Asia. Over the last 30 years, the Asian economy has grown by over 7 percent each year, doubling in size every decade. This success has been based in large part on outward-oriented growth strategies. But, there is growing awareness that Asia’s export-led growth needs to be balanced by a second engine of growth. How to achieve this rebalancing is a key theme of a new book from the IMF, launched in Hong Kong, on Rebalancing Growth in Asia—Economic Dimensions for China.

Filed under: Asia, Economic Crisis, Economic outlook, Emerging Markets, International Monetary Fund | Tagged: , , , , , , , , , , , , , , | Comments Off

Global Challenges, Global Solutions

Posted on April 14, 2011 by iMFdirect

The April 2011 IMF-World Bank Spring Meetings are upon us here in Washington DC. With global challenges that require global solutions—the theme of the meetings—IMF Managing Director Dominique Strauss-Kahn reminds us that this is “not the time for complacency.” Here’s a snapshot of what you need to know to get you through the meetings….

Filed under: Annual Meetings, Civil Society, Economic outlook, Employment, IMF, Inequality, International Monetary Fund, Multilateral Cooperation | Tagged: , , , , , , , , , , , , , , | 3 Comments »

Warning! Inequality May Be Hazardous to Your Growth

Posted on April 8, 2011 by iMFdirect

Some people dismiss inequality and focus on overall growth—arguing that a rising tide lifts all boats. But when—as in the U.S. in recent decades—a handful of yachts become ocean liners while the rest remain lowly canoes, something is seriously amiss. In fact, inequality matters. And it matters in all corners of the globe.

Medical researchers ask how smoking, weight, and so on influence life expectancy. We wondered, what keeps long periods of high growth going? Somewhat to our surprise, income inequality stood out as a key driver. The upshot? It is a big mistake to separate analyses of growth and income distribution. A rising tide is still critical to lifting all the boats. But lifting up the lowest boats may actually help to keep the tide rising!

Filed under: growth, Inequality, International Monetary Fund | Tagged: , , , , , , , , | 31 Comments »

Latin America’s Twin Challenges—Increasing Rate of Growth and Managing Volatility

Posted on March 27, 2011 by iMFdirect

Three ways Latin America can reduce its vulnerability to economic fluctuations and sudden stops.

Filed under: Economic Crisis, Economic outlook, Employment, Español, Fiscal Stimulus, Globalization, growth, Latin America | Tagged: , , , , , , , | Leave a Comment »

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