Posted on July 25, 2016 by iMFdirect
By David Lipton
Versions in عربي (Arabic), Español (Spanish)
Almost a decade after the start of the global financial crisis, the world economy is still trying to achieve escape velocity. The IMF’s recent forecast for global growth is a disappointing 3.1 percent in 2016 and 3.4 percent in 2017. And the outlook remains clouded by increased economic and political uncertainty, including from the impact of the Brexit vote.
Policymakers have taken forceful macroeconomic policy action to support growth, such as fiscal stimulus and appropriately accommodative monetary policy. But a lasting recovery remains elusive. Continue reading
Filed under: Advanced Economies, Financial Crisis, Fiscal policy, G-20, International Monetary Fund | Tagged: Brazil, business cycle, competition, foreign direct investment, IMF, India, Indonesia, International Monetary Fund, macroeconomic policy, monetary policy, structural reforms, trade | Leave a comment »
Posted on December 13, 2010 by iMFdirect
By Nicolás Eyzaguirre
(Version in Español)
Ahead of my arrival today in Mexico with the IMFs Managing Director Dominique Strauss-Kahn, I can’t help but reflect on how things have changed for the better in Mexico over the past decade in the sphere of economic policy. At the same time, I am struck by the importance of the task ahead for Mexico: grasping the opportunities offered by the changing global scene.
Mexico’s economic institutions have been very substantially strengthened. The balanced budget fiscal rule has supported fiscal discipline and a reduction in public debt. Moreover the structure of this debt has been radically improved—Mexico has created a deep domestic bond market and extended maturities. The introduction of inflation targeting has cemented the credibility of Banxico and fostered a reduction in inflation—that most unequal of taxes on the poorest—to low single digit levels. Meanwhile, the deep commitment to the flexible exchange regime has created an important safety valve for the economy. Continue reading
Filed under: Economic Crisis, Economic outlook, Emerging Markets, Financial Crisis, Fiscal policy, International Monetary Fund, Latin America, Public debt | Tagged: competition, FCL, Flexible Credit Line, labor markets, Mexico, public services, Strauss-Kahn, transformation | Leave a comment »