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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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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It’s Mostly Food: How to Tame Indian Inflation


By Rahul Anand and Paul Cashin

After being low for decades, inflation in India trended higher from the mid-2000s. It reached 10–11 percent by 2008, and remained elevated at double digits for several years. Even though inflation fell by almost half in 2014, inflation expectations have remained high.

High and persistent inflation in recent years has presented serious macroeconomic challenges in India, increasing the country’s domestic and external vulnerabilities. As Reserve Bank of India Governor Raghuram Rajan pointed out at the 8th R.N. Kao Memorial Lecture in 2014, “inflation is a destructive disease … we can’t push inflation under the carpet as a central banker. We have to deal with it.”

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What the G20 Can Do to Help the Global Recovery


By iMFdirect

(Versions in عربي and Español)

Shanghai will welcome finance ministers and central bank governors for the first ministerial meeting under China’s Group of Twenty presidency this weekend. The meeting comes at a critical time for the global economy. A note by IMF staff prepared as background for the G20 meeting, Global Prospects and Policy Challenges, points to a tepid recovery, and warns that weaker global growth might well be in the cards. This calls for a strong policy response, both national and multilateral, including from the G20.

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Competitiveness in Sub-Saharan Africa: Time to Move Ahead


Antoinette Sayeh2

By Antoinette Sayeh

(Versions in EspañolFrançais, and Português)

The sub-Saharan Africa region is facing severe shocks associated with the steep decline in commodity prices and tightening global financial conditions. Against this background, it’s a good time to look back at the region’s recent growth experience and examine the relationship between growth rates and competitiveness. The extent to which sub-Saharan African companies are able to compete against their foreign competitors (that is, the extent to which they are competitive) could indeed play a role in sustaining growth going ahead.

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Latin America and the Caribbean in 2016: Adjusting to a Harsher Reality


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Alejandro Werner

By Alejandro Werner

(Versions in Español and Português)

It’s been a rough start to 2016, as seen by the recent bouts of financial volatility, stemming from uncertainties related to the slowdown in China, lower commodity prices, and divergent monetary policy in advanced economies.

The global recovery continues to struggle to gain its footing, with strains in some large emerging market economies weighing on growth prospects. For Latin America and the Caribbean, growth in 2016 is now expected to be negative for the second consecutive year—the first time since the debt crisis of 1982–83, which triggered the “lost decade” for the region (see table). Continue reading

The Top Ten Blogs of 2015


by iMFdirect

2015 was a bold year for blogs at the IMF.  Boldness grows less common in the higher ranks, according to Prussian general and military theorist Carl von Clausewitz, but he couldn’t be more wrong when it comes to these blogs: the list includes work by the IMF’s former chief economist Olivier Blanchard and Vitor Gaspar, head of the Fiscal Affairs Department.

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