Posted on March 21, 2017 by iMFdirect
By Christine Lagarde
Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), and Español (Spanish)
From smartphones to cloud computing, technology is rapidly changing virtually every facet of society, including communications, business and government. The financial world is no exception.
As a result, the financial world stands at a critical juncture. Yes, the widespread adoption of new technologies, such as blockchain-based systems, offers many potential benefits. But it also gives rise to new risks, including risks to financial stability. That causes challenges for financial regulators, a subject I addressed at the 2017 World Government Summit in Dubai.
Filed under: currency, financial policy, Financing, International Monetary Fund, technology | Tagged: artificial intelligence, Bitcoin, Christine Lagarde, cryptocurrencies, Financial regulation, financial stability, financial systems, financial technology, fintech, imfblog | Leave a comment »
Posted on February 21, 2017 by iMFdirect
By Ghiath Shabsigh, Ross Leckow, and Zeine Zeidane
Versions in: Arabic, French, Indonesian, and Malay
Islamic banking, a small but fast-growing corner of the financial world, is receiving greater attention from regulators and policy makers. The IMF recently adopted a set of proposals on Islamic banking and called for a more comprehensive set of policies to ensure financial stability in countries with Islamic banking and support the sound development of the industry. The IMF is now calling for additional work and cooperation by its staff with other international agencies to improve the adoption of relevant standards for Islamic banking and to address remaining regulatory gaps. Continue reading
Filed under: Africa, banking, Central Asia, Economic research, Europe, Financial regulation, IMF, International Monetary Fund, Middle East, monetary policy | Tagged: banking, banking regulation, Central Asia, financial sector, financial stability, IMF, iMFdirect blog, Islamic banking, islamic finance, Islamic Financial Services Board, Middle East, sukuk | Leave a comment »
Posted on December 12, 2016 by iMFdirect
By Maurice Obstfeld and Poul M. Thomsen
Versions in عربي (Arabic); Français (French); Deutsch (German); ελληνικά (Greek); and Español (Spanish)
Greece is once again in the headlines as discussions for the second review of its European Stability Mechanism (ESM) program are gaining pace. Unfortunately, the discussions have also spurred some misinformation about the role and the views of the IMF. Above all, the IMF is being criticized for demanding more fiscal austerity, in particular for making this a condition for urgently needed debt relief. This is not true, and clarifications are in order. Continue reading
Filed under: Debt Relief, Europe, Fiscal policy, Greece, IMF, International Monetary Fund | Tagged: austerity, debt, debt relief, debt sustainability, ESM, euro zone, Europe, European Stability Mechanism, financial stability, fiscal policy, GDP, Greece, IMF, iMFdirect blog, International Monetary Fund | Leave a comment »
Posted on July 1, 2016 by iMFdirect
By Sean Hagan and Ross Leckow
Since the 2008 global financial crisis, the international community has made a great deal of progress in strengthening legal frameworks governing the financial sector, but a great deal more needs to be done to implement international standards and develop appropriate approaches to emerging challenges.
Filed under: banking, Financial regulation, Government, IMF, International Monetary Fund | Tagged: AML/CFT, banking regulat, corresponding bank relationships, emerging economies, financial inclusion, financial stability, IMF, iMFdirect, International Monetary Fund, Islamic banking, law, legal frameworks, money laundering, shadow banking | 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 March 21, 2016 by iMFdirect
By Cheng Hoon Lim
(Version in Français)
Canada’s housing market is sizzling hot and the Bank of Canada has a monetary policy dilemma: increase interest rates to cool the housing market would hurt borrowers and the economy; keep interest rates low adds fuel to the borrowing that led to the rise in housing prices and in household debt. What to do?
Filed under: Advanced Economies, banking, Financial regulation, housing, IMF, International Monetary Fund | Tagged: Bank of Canada, Canada, financial stability, GDP, house prices, household debt, housing market, IMF, iMFdirect, monetary policy, mortgages | Leave a comment »
Posted on February 11, 2016 by iMFdirect
By Poul M. Thomsen
Versions in عربي (Arabic), Español, Français, and ελληνικά (Greek)
Having successfully pulled Greece from the brink last summer and subsequently stabilized the economy, the government of Alexis Tsipras is now discussing with its European partners and the IMF a comprehensive multi-year program that can secure a lasting recovery and make debt sustainable. While discussions continue, there have been some misperceptions about the International Monetary Fund’s views and role in the process. I thought it would be useful to clarify issues.
Filed under: Debt Relief, euro zone, Europe, Government, Greece, IMF, International Monetary Fund | Tagged: debt, debt relief, debt sustainability, euro zone, Europe, financial stability, GDP, Germany, government, Greece, Grexit, IMF, iMFdirect, International Monetary Fund, pension reform, productivity | Leave a comment »