Taxing Oil, Gas and Minerals Across Borders Poses Challenges for Developing Nations


By Philip Daniel, Michael Keen, Artur Swistak, and Victor Thuronyi

Versions in Français (French), Português (Portuguese), and Español (Spanish)

Seventy percent of the world’s poorest people live in countries rich in oil, natural gas or minerals, making effective taxation of these extractive industries critical to alleviating poverty and achieving sustained growth. But national borders make that task much harder, opening possibilities for tax avoidance by multinationals and raising tough jurisdictional issues when resource deposits cross frontiers. Continue reading

Infrastructure Done Right


By iMFdirect

In the face of crumbling bridges and super-low interest rates, many countries are talking and planning to increase spending on infrastructure. And it’s not just about more spending; it’s about smart spending. This is something that the IMF has urged countries to consider for several years, starting with our Fall 2014 World Economic OutlookContinue reading

Esther Duflo on Poverty: It’s Not Just the Lack of Money


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

Sub-Saharan Africa Growth Lowest in 20 Years


by iMFdirect

The IMF’s latest regional economic outlook for Sub-Saharan Africa shows growth at its lowest level in more than 20 years. In this podcast, the African Department’s new Director, Abebe Aemro Selassie, says it’s a mixed story of struggling oil-exporters and strong performers.

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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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Learning to Adjust: The Effects of Currency Depreciations on Inflation in Latin America


By Yan Carrière-Swallow and Bertrand Gruss

(Versions in Español and Português)

Falling global commodity prices and the normalization of monetary policy in the United States have contributed to widespread currency depreciations in Latin America. In theory, a falling currency is expected to create inflation by driving up the price of imported goods and services—triggering what economists call exchange rate pass-through.

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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

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