Posted on February 23, 2017 by iMFdirect
By Sean Hagan, Maurice Obstfeld, and Poul M. Thomsen
Versions in Français (French), Deutsch (German); ελληνικά (Greek), and Español (Spanish)
Debt is central to the functioning of a modern economy. Firms can use it to finance investments in future productivity. Households can use it to finance lumpy purchases, such as big consumer durables, or a home. Sometimes, however, firms’ investments do not pan out or a household’s main earner loses his or her job. Countries’ legal systems generally recognize that in these cases, debtors and creditors alike—along with society at large—may be better off if there is an orderly procedure for reorganizing debts. Continue reading
Filed under: Debt Relief, Government, Greece, IMF, interest rates, Investment, Reform, structural reforms | Tagged: debt relief, debt restructuring, debt sustainability, debt-to-GDP framework, government debt, Greece, iMFdirect blog, investment, Maurice Obstfeld, Paris agreement, Poul M. Thomsen, Sean Hagan, sovereign debt, structural reform | Leave a comment »
Posted on December 16, 2016 by iMFdirect
By Joong Shik Kang and Wojciech S. Maliszewski
Version in 中文 (Chinese)
China urgently needs to tackle its corporate-debt problem before it becomes a major drag on growth in the world’s No. 2 economy. Corporate debt has reached very high levels and continues to grow. In our recent paper, we recommend that the government act promptly to adopt a comprehensive program that would sacrifice some economic growth in the short term while rapidly returning the economy to a sustainable growth path.
Filed under: Asia, banking, China, Debt Relief, Economic research, Financial regulation, growth, IMF, International Monetary Fund, Public debt | Tagged: Asia, banking, China, corporate debt, credit gap, credit risks, debt relief, deleveraging, Financial regulation, IMF, iMFdirect blog, investment, Japan, Spain | Leave a comment »
Posted on November 30, 2016 by iMFdirect
By Camilla Lund Andersen
2016 has been a year of political upheaval, as accepted truths about the power of globalization to transform lives and lift millions out of poverty are being questioned by electorates in Europe, the United States, and elsewhere. No longer prepared to take experts and elites at their word, many voters appear to be rejecting the adverse consequences of globalization by casting their ballot for antiestablishment messages and candidates.
Filed under: Employment, Globalization, growth, IMF, income, Inequality, International Monetary Fund, Investment, jobs, trade, unemployment | Tagged: employment, F&D, Finance & Development magazine, Globalization, growth, IMF, iMFdirect blog, inequality, International Monetary Fund, investment, jobs, trade, trade unions, unemployment | Leave a comment »
Posted on November 16, 2016 by iMFdirect
By Jim Brumby and Michael Keen
Tax officials and experts grappled with the issue of tax treaties several weeks ago at the IMF-World Bank Annual Meetings. This arcane subject has now emerged as a new lightning rod in the debate on fairness in international taxation. As citizens demand that corporations pay their fair share of taxes and some governments struggle to raise enough revenues for basic services, tax treaties present difficult issues.
Filed under: Annual Meetings, developing countries, Fiscal policy, Government, IMF, International Monetary Fund, Investment, taxation, U.S. | Tagged: economic development, fiscal policy, IMF, IMF-World Bank Annual Meetings, income tax rates, International Monetary Fund, international taxation, investment, tax agreements, Tax Treaties, taxation, trade, World Bank | Leave a comment »
Posted on October 26, 2016 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.
Filed under: Africa, banking, developing countries, Economic research, Finance, Fiscal, growth, IMF, International Monetary Fund, LICs, monetary policy, oil, poverty, technology | Tagged: Abebe Aemro Selassie, Angola, Cote d’Ivoire, education, financial inclusion, fuel subsidies, health care, infrastructure, investment, Nigeria, senegal, South Africa, Tanzania, tax systems | Leave a comment »
Posted on September 21, 2016 by iMFdirect
By Marcello Estevão and Greetje Everaert
Version in Español (Spanish)
Borrowing and saving in foreign currencies—so-called dollarization—seem like a rational response by citizens in some emerging market economies to financial crises and runaway inflation. But dollarization usually persists many years after the problems that triggered it are alleviated and limits the effect that central banks can have on economic activity and inflation. Continue reading
Filed under: International Monetary Fund, South America, trade | Tagged: dollarization, exchange rate, IMF, investment, Peru | Leave a comment »
Posted on September 6, 2016 by iMFdirect
By Longmei Zhang
Version in 中文 (Chinese)
The word “rebalancing” is often used to describe China’s economic transition. But what does it mean? And how much is China rebalancing? A recent IMF paper attempts to answer these questions. Continue reading
Filed under: Advanced Economies, aging, Asia, China, climate change, Financial markets, growth, Inequality, International Monetary Fund, Reform | Tagged: aging, China, Chinese economy, Climate change, economic rebalancing, GDP, global financial crisis, IMF, iMFdirect, inequality, International Monetary Fund, investment, pollution, structural reforms | Leave a comment »