Posted on July 20, 2016 by iMFdirect
(Versions in: Bulgarian, Czech, Estonian, Hungarian, Latvian, Lithuanian, Polish, Romanian, Russian, Serbian, and Slovenian)
The opening up of Eastern Europe to the rest of the world in the early 1990s brought about tremendous benefits. The inflow of capital and innovation has led to better institutions, better economic management, and higher efficiency. On the flip side, it has also led to sizable and persistent outflow of people.
Filed under: Advanced Economies, Economic research, Employment, euro zone, Europe, growth, income, Inequality, International Monetary Fund, Migration, refugees, unemployment | Tagged: advanced economies, Bulgaria, Czech Republic, East-West migration, eastern Europe, emigration, employment, Estonia, Europe, European Union, GDP, growth, Hungary, IMF, iMFdirect, International Monetary Fund, jobs, labor force, Latvia, Lithuania, pan-European, Romania, Russia, Slovakia, Slovenia | Leave a comment »
Posted on July 19, 2016 by iMFdirect
By Maurice Obstfeld
Versions in عربي (Arabic), 中文 (Chinese), Français (French), and Español (Spanish)
The United Kingdom’s June 23 vote to leave the European Union adds downward pressure to the world economy at a time when growth has been slow amid an array of remaining downside risks. The first half of 2016 revealed some promising signs—for example, stronger than expected growth in the euro area and Japan, as well as a partial recovery in commodity prices that helped several emerging and developing economies. As of June 22, we were therefore prepared to upgrade our 2016-17 global growth projections slightly. But Brexit has thrown a spanner in the works.
Filed under: Advanced Economies, Economic outlook, Economic research, Europe, International Monetary Fund | Tagged: bank balance sheets, Brexit, China, debt overhang, financial, financial markets, geopolitical risks, growth, IMF, investment, Japan, Nigeria, Policy Action, refugees, South Africa, trade, unemployment, United Kingdom, World Economic Outlook | Leave a comment »
Posted on July 11, 2016 by iMFdirect
By Vivek Arora
Version in 中文 (Chinese), Español (Spanish)
IMF lending increased to unprecedented levels in the aftermath of the global financial crisis. As difficulties emerged, we extended financial support to countries across the world—in the euro area, Africa, Asia, the Middle East, and emerging economies in Europe.
The IMF tried to draw lessons in real time as the crisis evolved in order to adapt our operations. We reviewed individual programs and, from time to time, paused and took stock of our experience across countries.
Filed under: Economic research, Financial Crisis, Fiscal policy, IMF, International Monetary Fund, Multilateral Cooperation | Tagged: Africa, Arab Spring, Asia, crisis programs, emerging economies, Europe, financial crises, financing arrangements, fiscal policy, global financial crisis, IMF, iMFdirect, International Monetary Fund, Middle East, structural reforms | Leave a comment »
Posted on June 22, 2016 by iMFdirect
By Christine Lagarde
Version in Español (Spanish)
The U.S. economy is in good shape, despite some setbacks in very recent months. The latest IMF review of the U.S. economy can be summed up in three numbers: above 2, below 5, and 4. What does that mean?
Filed under: Advanced Economies, Economic research, Financial markets, growth, IMF, International Monetary Fund, labor markets, monetary policy, U.S. | Tagged: advanced economies, Christine Lagarde, GDP, growth, IMF, income inequality, International Monetary Fund, labor force, population, poverty, productivity, productivity gains, trade, United States, US ecconomy, women | Leave a comment »
Posted on June 6, 2016 by iMFdirect
The global financial crisis led to a broad rethink of macroeconomic and financial policies in the global academic and policy community. Eight months into the job as IMF Chief Economist, Maury Obstfeld reflects on the IMF’s role in this rethinking and in furthering economic and financial stability.
Filed under: Economic research, Financial Crisis, Fiscal policy, IMF, International Monetary Fund, trade | Tagged: capital flows, competitive markets, financial stability, fiscal policy, global financial crisis, IMF, International Monetary Fund, macroeconomic stability, Maurice Obstfeld, trade | Leave a comment »
Posted on April 26, 2016 by iMFdirect
By James Daniel, José Garrido, and Marina Moretti
Version in 中文 (Chinese)
China’s high and rising corporate debt problem and how best to address it has received much attention recently. Indeed, corporate debt in China has risen to about 160 percent of GDP, which is very high compared to other, especially developing, countries.
The IMF’s April 2016 Global Financial Stability Report looked at the issue from the viewpoint of commercial banks and resulting vulnerabilities. Its analysis suggests that the share of commercial banks’ loans to corporates that could potentially be at risk has been rising fast and, although currently at a manageable level, needs to be addressed with urgency in order to avoid serious problems down the road. Indeed the success in addressing this issue is important for China’s economic transition and, given its size and growing global integration, the world’s economy at large.
Filed under: China, developing countries, Economic research, Finance, IMF, International Monetary Fund, unemployment | Tagged: bank credit, capital, China, credit, debt restructuring, developing countries, IMF, International Monetary Fund, Labor, nonperforming loans, NPLs, structural reform | Comments Off on Tackling China’s Debt Problem: Can Debt-Equity Conversions Help?
Posted on April 19, 2016 by iMFdirect
Public capital—road, bridges, electricity—can make countries richer by attracting more investment and building economic growth at a time when many are struggling with low growth. Many economists would argue public investment projects in highly efficient countries tend to have a greater impact on growth. New research by IMF economists shows that’s not necessarily the case. Continue reading
Filed under: Advanced Economies, Africa, Asia, Caribbean, China, Economic research, growth, IMF, International Monetary Fund, Latin America, LICs, Low-income countries | Tagged: Andy Berg, infrastructure, public spending | Leave a comment »