Mali – At the Dawn of a New Year


MD's Updated HeadshotBy Christine Lagarde

(Version in Français)

My second stop on this trip to Africa, after Kenya, was Mali—a country that is facing an extraordinarily difficult transition: from restoring political stability to securing economic stability—from crisis to recovery.

Having gone through massive turmoil in 2012, Mali is emerging successfully, thanks to the perseverance and fortitude of its people. Parliamentary and presidential elections have been held, and the newly elected government has put forth a new economic program aimed at increasing growth and reducing poverty.

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Myanmar: Awakening to Countless Possibilities


MD's Updated HeadshotBy Christine Lagarde

Having visited Cambodia and Korea on this whirlwind tour of the region, I touched down in my third and last country—Myanmar.

What a place! It is rare to find such a combination of enchanting beauty, warm hospitality, and an unstoppable drive to succeed. Myanmar is undergoing a great awakening to the world and all that it has to offer. And it is engaging on multiple fronts. For example, it has recently taken over the chairmanship of ASEAN, and when I arrived I found the country in the midst of hosting the South East Asian games.

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Korea: Keeping It Dynamic


MD's Updated HeadshotBy Christine Lagarde

(Versions in 한국의 and 中文)

My arrival in Seoul was somewhat delayed when dense fog caused my plane from Phnom Penh to be temporarily diverted from Seoul to Daegu. Still, better late than never! I was delighted to be back in Seoul, capital of one of the world’s most dynamic and innovative economies. Just remember: in a remarkably short period of time, Korea has risen from close to the bottom to close to the top—becoming the thirteenth most prosperous economy with an income per capita that is higher than the European Union average.

With such a track record, Korea plays an increasingly important role on the global stage. It held the annual presidency of the Group of Twenty advanced and emerging economies at the height of the global financial crisis in 2010. It is host to the Green Climate Fund, whose aim is to help developing countries respond to climate change—surely one of the greatest challenges of the 21st century. And it is playing ever increasing leadership roles in other international institutions, including the IMF.

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Cambodia: Moving Beyond The Frontier


MD's Updated HeadshotBy Christine Lagarde

Cambodia is the first leg of my Asia trip. This is a country that has already grown by leaps and bounds, and now stands at the frontier of becoming an emerging market economy in the heart of the most dynamic hub of the global economy.

I could feel this energy and excitement everywhere. Cambodians, especially young Cambodians, have big dreams and substantial societal aspirations. They want dignity and respect, so that they can fulfill their potential, both as individuals and as a nation. They want to embrace the wider world and all that it has to offer. They want good governance and strong institutions, which are essential to underpin economic development, empower people and ensure that prosperity is broadly shared.

I heard these themes consistently—from inspiring women leaders, from dynamic young economists, and from the students at the Royal School of Administration, where I gave a speech on how Cambodia can keep its forward momentum.

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Back to Asia


Christine LagardeBy Christine Lagarde

In a couple of days, I will embark upon a trip to Asia. Every time I visit Asia, I can feel that dynamism and intensity are in the air. It feels like moving forward in time. Hardly surprising as under current trends, developing Asia alone will account for half of global GDP by 2050. Back to Asia really means back to the future.

This time, I will visit three countries—Cambodia, Korea, and Myanmar. These countries represent three different chapters of the great Asian story, each in their own unique way.

Korea is a country that has propelled itself from very low income levels to one of the world’s richest economies in an astoundingly short period of time. It has a well-deserved reputation for innovation, technological brilliance and hard work. I am convinced it can stay at the leading edge, especially by making labor markets more inclusive—including for women—and making the services sector more dynamic and productive.

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Lagarde: Women Can Help Grow the World Economy


(Versions in Español and عربي)

Hot off the press: a new study out today from our economists pointing to the striking economic benefits that could come from increased female participation in the work force.

IMF Chief Christine Lagarde, calling attention to the findings of the paper, “Women, Work, and the Economy,” made the case for policymakers to shift into high gear and give women equal opportunities to participate in the work force.

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F&D Magazine: A Mother’s Example


By: Jeffrey Hayden, Editor-in-Chief

FD June CoverNazareth College was my second home. As a child, I spent countless evenings roaming the small liberal arts college in Rochester, N.Y., where my mother headed the office of graduate studies and continuing education.­

Most of her students worked day jobs, attending class at night. For her, this made for late hours at the office—and for a complex juggling act: off to work in the morning to manage a staff, drop everything at 3 p.m. to rush home to fix dinner for the family, and then back to work around 5 p.m.—with me in tow—to staff the office until evening classes let out. Sleep and then repeat. This was the rhythm of my childhood.­

I thought a lot about those days as we put together the special feature on women at work in this issue of F&D—about her example, and about the many women who share in her experience and the many who do not.­

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An Open and Diverse Economy To Benefit All Algerians


Christine LagardeBy 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.

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What We Can Do To Improve Women’s Economic Opportunities


Christine LagardeBy Christine Lagarde

Versions in  عربي中文Français, 日本語Русский, and Español

Today, I invite all of you to celebrate International Women’s Day. Let’s celebrate the incredible progress women have made over the past decades in different parts of society, playing a key role in economic life that our grandmothers worked for and dreamed about. Today, although men still dominate the executive suites in most professions, women all over the world hold high positions in the private sector and in public office. Women are no longer the Second Sex Simone de Beauvoir wrote about.

But far too many women face the most fundamental challenges: the right to safety and to choose the life they want.

Across the globe, fewer women than men are in paid employment, with only about 50 percent of working-age women participating in the labor force. In many countries, laws, regulations and social norms still constrain women’s possibilities to seek paid employment. And all over the world women conduct most of the work that remains unseen and unpaid, in the fields and in households.

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Top 20 — iMFdirect’s Top 20 list


Three years after the launch of iMFdirect as a forum for discussing economic issues around the world, we look back at some of our most popular posts.

The IMF blog has helped stimulate considerable debate about economic policy in the current crisis, on events in Europe and around the world in Asia, Africa, Latin America, and the Middle East, on fiscal adjustment, on regulating the financial sector, and the future of macroeconomics–as economists learn lessons from the Great Recession.

As readers struggled to understand the implications of the crisis, our most popular post by far was IMF Chief Economist Olivier Blanchard’s Four Hard Truths, a look back at 2011 and the economic lessons for the future.

Here’s our Top 20 list of our most popular posts by subject (from more than 300 posts):

1.  Global Crisis: Four Hard Truths; Driving With the Brakes On

2.  Financial Stability: What’s Still to Be Done?

3.  Fiscal Policy:  Ten Commandments ; Striking the Right Balance

4.  Macroeconomic Policy: Rewriting the Playbook;  Nine Tentative Conclusions ; Future Study

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