Posted on February 23, 2017 by iMFdirect
By Sean Hagan, Maurice Obstfeld, and Poul M. Thomsen
Version in Español (Spanish)
Debt is central to the functioning of a modern economy. Firms can use it to finance investments in future productivity. Households can use it to finance lumpy purchases, such as big consumer durables, or a home. Sometimes, however, firms’ investments do not pan out or a household’s main earner loses his or her job. Countries’ legal systems generally recognize that in these cases, debtors and creditors alike—along with society at large—may be better off if there is an orderly procedure for reorganizing debts. Continue reading
Filed under: Debt Relief, Government, Greece, IMF, interest rates, Investment, Reform, structural reforms | Tagged: debt relief, debt restructuring, debt sustainability, debt-to-GDP framework, government debt, Greece, iMFdirect blog, investment, Maurice Obstfeld, Paris agreement, Poul M. Thomsen, Sean Hagan, sovereign debt, structural reform | Leave a comment »
Posted on December 20, 2016 by iMFdirect
By Maurice Obstfeld
Version inعربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)
After a year marked by financial turbulence, political surprises, and unsteady growth in many parts of the world, the Fed’s decision this month to raise interest rates for just the second time in a decade is a healthy symptom that the recovery of the world’s largest economy is on track.
The Fed’s action was hardly a surprise: markets had for weeks placed a high probability on last week’s move. But market developments preceding the Fed decision did surprise many market watchers. Continue reading
Filed under: Advanced Economies, Emerging Markets, Fiscal policy, Government, growth, interest rates, International Monetary Fund, jobs, labor force, U.S. | Tagged: developing economies, emerging market economies, exchange rates, government spending, growth, IMF, iMFdirect blog, inflationary pressures, interest rates, jobs, labor force, trade, U.S. elections, U.S. Fed, U.S. taxes, United States | Leave a comment »
Posted on November 21, 2016 by iMFdirect
By Roberto Cardarelli
Versions in Português (Portuguese), and Español (Spanish)
Most people know Argentina as the land of tango, Malbec, and some of the greatest soccer players of all times. But Argentina is also famous for being home to some of the most diverse and extreme landscapes of the world—from subtropical rainforests and Iguazu Falls in the north to the glaciers of Perito Moreno in the south, and from the lowest site in South America (Laguna del Carbón) to the highest elevation in the Americas (Aconcagua mountain).
Filed under: Economic research, Fiscal policy, Government, growth, inflation, International Monetary Fund, Latin America, Reform, taxation, trade | Tagged: Argentina, economic assessment, fiscal policy, growth, IMF, iMFdirect blog, inflation targeting, International Monetary Fund, Latin America, reform, taxation, trade | Leave a comment »
Posted on November 18, 2016 by iMFdirect
Esther Duflo, Professor of Development Economics at MIT, co-founded The Poverty Lab to find innovative approaches to poverty alleviation. In this podcast, Duflo says she became an economist specifically to study poverty. Continue reading
Filed under: corruption, Government, International Monetary Fund, poverty | Tagged: education, Esther Duflo, health, information, infrastructure, political inclusion, Richard Goode Lecture | Leave a comment »
Posted on November 16, 2016 by iMFdirect
By Jim Brumby and Michael Keen
Tax officials and experts grappled with the issue of tax treaties several weeks ago at the IMF-World Bank Annual Meetings. This arcane subject has now emerged as a new lightning rod in the debate on fairness in international taxation. As citizens demand that corporations pay their fair share of taxes and some governments struggle to raise enough revenues for basic services, tax treaties present difficult issues.
Filed under: Annual Meetings, developing countries, Fiscal policy, Government, IMF, International Monetary Fund, Investment, taxation, U.S. | Tagged: economic development, fiscal policy, IMF, IMF-World Bank Annual Meetings, income tax rates, International Monetary Fund, international taxation, investment, tax agreements, Tax Treaties, taxation, trade, World Bank | Leave a comment »
Posted on September 28, 2016 by iMFdirect
By Vitor Gaspar, Maurice Obstfeld and Ratna Sahay
There are policy options to bring new life into anemic economic recoveries and to counteract renewed slowdowns. Our new paper, along with our co-authors, debunks widespread concerns that little can be done by policymakers facing a vicious cycle of (too) low growth, (too) low inflation, near-zero interest rates, and high debt levels.
Filed under: capital markets, Economic research, Fiscal policy, Government, IMF, International Monetary Fund, monetary policy, Reform | Tagged: Christine Lagarde, collective action, economic recovery, fiscal policy, G20, growth, IMF, iMFdirect, inflation, interest rates, International Monetary Fund, Maurice Obstfeld, monetary policy, public debt, Ratna Sahay, Vitor Gaspar | Leave a comment »
Posted on July 21, 2016 by iMFdirect
Once again, we face the prospect of weak and fragile global growth. Released earlier this week, the IMF’s update to the global economic outlook expects global growth at 3.1 percent and 3.4 percent in 2016 and 2017, respectively, slightly down from April estimates. The global outlook, which was set for a small upward revision prior to the U.K.’s referendum, has been revised downward, reflecting the increased economic, political, and institutional uncertainty. Continue reading
Filed under: Advanced Economies, Europe, G-20, Government, International Monetary Fund, Multilateral Cooperation | Tagged: Brexit, China, growth, IMF, risk, trade | Leave a comment »