Oil Exporters Learn to Live with Cheaper Oil


By Martin Sommer, Juan Treviño, and Neil Hickey

Version in  عربي (Arabic)

The significant and prolonged drop in oil prices since mid-2014 has changed the fortunes of many energy-exporting nations around the world. This applies particularly to countries of the Middle East and Central Asia, because these regions are home to 11 of the world’s top 20 energy exporters.

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Africa Pausing


Jeff HaydenBy Jeff Hayden

Strong performance by many African economies over the past two decades led some commentators to coin the term “Africa Rising” to describe the region’s surging economic power.

The term graced the cover of TIME magazine in December 2012, in an issue that chronicled the region’s decades-long journey from economic anemia to impressive vigor. Beginning in the mid-1990s, many—but certainly not all—countries in sub-Saharan Africa energized their economies, achieving in recent years some of the world’s highest growth. Living standards improved as a result, as did health care and other key services, inspiring hope for a bright future.

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Reducing Inequality in Asia: Sharing the Growth Dividend


By Sonali Jain-Chandra, Kalpana Kochhar and Tidiane Kinda

Versions in 中文 (Chinese), 日本語 (Japanese)

Asia continues to be the world’s growth leader, but the gains from growth are less widely shared than before. Until about 1990, Asia grew rapidly and secured large gains in poverty reduction while simultaneously achieving a fairly equitable society. Since the early 1990s, however, the region has witnessed widening income inequality that has accompanied its robust expansion—a break from its own remarkable past.

This matters because elevated levels of inequality are harmful for the pace and sustainability of growth. What can be done? Our research finds that policies could substantially reverse the trend of rising inequality. In particular, given limited social safety nets, well-designed fiscal policies may be able to alleviate inequality without stifling the region’s wealth-creating growth.

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Addition by Subtraction: How Diasporas Can Boost Home-Country Growth


Pritha Mitra-blogpicBy Pritha Mitra

Version in عربي (Arabic)

Every year, millions of people leave their countries of birth in search of better opportunities abroad. Often, these migrants are among the most talented workers in their home countries. At first glance, this is a loss for the home countries, which invested considerable time and money in educating and developing these people, only to watch them leave. But look again.

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Who Wins and Who Loses As China Rebalances


By Serkan Arslanalp, Thomas Helbling, Jaewoo Lee, and Koshy Mathai

Version in 中文  (Chinese)

China’s economy leaves nobody indifferent. The world is watching closely as the second largest economy in the world is shifting its growth model from an export-driven one to one centered on household consumption. As China’s economy slows and rebalances, its impact is being felt on an already fragile global economy, and particularly in the rest of the Asia region. Our recent studies show that while China’s rebalancing will adversely affect some Asian economies, it will also open opportunities for several others.

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Bang for Your Buck: Public Investment & Efficiency


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

Act Now, Act Together


By Vitor Gaspar and Luc Eyraud

Versions in 中文 (Chinese), Français (French), Español (Spanish), 日本語 (Japanese), and Русский (Russian)

Public finances have had a rough year. A new reality is emerging. Against this backdrop, countries need to act now to boost growth and build resilience. They must also be prepared to act together to fend off global risks.

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