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

Posted on May 5, 2011 by iMFdirect

By David Owen

(Version in Русский)

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: (more…)

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

By Anoop Singh

(Version in 中文 and 日本語)

The center of global economic growth is moving from the West to Asia, in particular emerging Asia and China.

But, left unattended, the economic imbalances that have emerged with this shift in power could test the sustainability of global 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.

(more…)

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

By iMFdirect

The 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.”

Government ministers and officials, members of civil society organizations, journalists, and others are flocking to Washington DC this week to discuss and decide on key issues facing the global economy. (more…)

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

By Andrew G. Berg and Jonathan D. Ostry

Many of us have been struck by the huge increase in income inequality in the United States in the past thirty years. The rich have gotten much richer, while just about everyone else has had very modest income growth.

Some dismiss inequality and focus instead on overall growth—arguing, in effect, that a rising tide lifts all boats. But assume we have a thousand boats representing all the households in the United States, with boat length proportional to family income. In the late 1970s, the average boat was a 12 foot canoe and the biggest yacht was 250 feet long. Thirty years later, the average boat is a slightly roomier 15 footer, while the biggest yacht, at over 1100 feet, would dwarf the Titanic! When 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. (more…)

Filed under: growth, Inequality, International Monetary Fund | Tagged: , , , , , , , , | 41 Comments »

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

Posted on March 27, 2011 by iMFdirect

By Dominique Strauss-Kahn

(Version in Español)

Earlier this month, I had the opportunity to discuss Latin America’s regional outlook with government leaders, parliamentarians, and university students in Brazil, Panama, and Uruguay.

The key conclusion that I took away from these meetings is that Latin America faces two principal economic challenges: to increase the sustainable rate of economic growth and to reduce the volatility of growth.

In my meeting in Calgary on March 26 with Finance Ministers of the region, I focused on the second challenge so that favorable conditions today do not come at the expense of a bust tomorrow.

It’s a nice coincidence that this meeting of Finance Ministers of the Americas and the Caribbean was held here in Calgary. Canada is a good example of “managing the good times,” but as in many countries across the globe, some challenges remain. (more…)

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

All Eyes on Paris and the G-20

Posted on February 18, 2011 by iMFdirect

By iMFdirect

Certainly the world did not end in 2008 with the collapse of Lehman and the crisis that followed. But, it didn’t mostly—perhaps only—because extraordinary international policy cooperation helped avert a far worse outcome.
Dominique Strauss-Kahn

… the G-20 has now to adapt to a new economic environment. It must prove that it is able to coordinate the economic policies of major economies on an ongoing basis.
French G-20 Presidency

G-20 Finance Ministers and Central Bank Governors gather in Paris for their first ministerial level meeting of France’s G-20 presidency at a critical juncture (more…)

Filed under: Economic outlook, Employment, G-20, Global Governance, Globalization, International Monetary Fund, Multilateral Cooperation | Tagged: , , , , , , , , , , , , , , | 3 Comments »

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