IMFSurvey Magazine: News, views, and analysis from the IMF

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Governments Must Take Stronger Measures to Strengthen Banks

January 28, 2009
IMF raises estimate of U.S.-origin asset writedowns to $2.2 trillion as financial markets continue to deteriorate. The multilateral institution presses for stronger measures to clean up banks' balance sheets and bolster their capital.

Are 'Temporary' Fiscal Boost Measures Really Reversible?

January 28, 2009
Fiscal measures to stimulate sluggish economies should be reversible, the IMF recommends, and governments should precommit to unwinding once economies recover. But the bulk of Europe's public expenditures are entitlements and for political reasons they are not reversible, writes Jean-Pierre Dumas.

Global Recession Triggers Slump in World Trade Volumes

January 28, 2009
Global output and trade plummeted in the final months of 2008, and the IMF said it expects world trade volumes to contract this year, falling by 2.8 percent.

Need to Fix Banking Sector for Stimulus to Work, IMF Chief Says

January 26, 2009
Economic stimulus alone cannot pull the world out of the current tailspin and more needs to be done to fix the underlying causes of the crisis, particularly in the banking sector, IMF Managing Director Dominique Strauss-Kahn says.

Global Slowdown Damages Progress in Low-Income Countries

January 23, 2009
Low-income countries, already weakened by high food and energy prices, are likely to be hit hard by effects of the financial crisis in advanced economies and the global recession, says a panel at an IMF-World Bank meeting with labor unions.

Germany Faces Extended Downturn Despite Stimulus

January 22, 2009
A combination of slowing demand for German exports because of the global recession, continued caution among German consumers, and a sharp drop in investment will result in a dramatic contraction in Europe's largest economy in 2009, according to an IMF analysis.

Don't Forget the Role Automatic Stabilizers Can Play

January 21, 2009
When recession hits a market economy, trends such as lower tax takes and higher unemployment benefit payouts effectively ease fiscal policy. These "automatic stabilizers" have a prominent role in European economies, writes Horst Siebert of the Kiel Institut.

World Faces Deepening Crisis, IMF Chief Warns

January 21, 2009
The world faces a deepening economic crisis, with the slowdown in advanced economies now spreading to major emerging markets such as China, India, and Brazil, warns IMF Managing Director Dominique Strauss-Kahn.

Economic Crises Hit Workers Hardest, Labor Conference Told

January 16, 2009
Workers, farmers, and the poor are likely to be among the groups worst affected by the current global recession, an IMF and World Bank meeting with global labor unions heard. The poor were also likeliest to spend any extra liquidity, the meeting was told.

IMF Makes $800 Million Available to El Salvador

January 16, 2009
In an interview, the IMF's mission chief for El Salvador, Alfred Schipke, talks about the impact of the global financial crisis on El Salvador, the precautionary nature of the economic program, and the challenges surrounding the future of the country's economic policies.

IMF Helping Counter Crisis Fallout in Emerging Europe

January 14, 2009
The financial crisis has hit Europe hard. In an interview, IMF European Department head Marek Belka talks about Europe's prospects for recovery and the principles that guide the Fund as it seeks to help Europe's emerging economies counter the fallout of the crisis.

Hungary: Markets Have Stabilized, but Long Road Ahead

January 12, 2009
Hungary's financial markets have stabilized since the IMF approved a $15.7 billion loan to back a program designed to ease financial market stress and support economic activity. But the road ahead is long, says James Morsink, the IMF's mission chief for Hungary.

Study Finds IMF Helps Countries in Use of Aid

January 06, 2009
A new study shows that IMF-supported programs are designed so that low-income countries can use, within a few years, most or all of the increases in aid they receive, refuting charges by some critics that the IMF restricts use of aid.

Fiscal Boosts May Create Problems for Developing Countries

December 31, 2008
The merits of loosening fiscal policy to combat recession seem focused on the advanced countries. Unfortunately, many developing countries infer that looser monetary policy and fiscal stimulus will revive their economies. This is creating problems, writes Edi Segura.

IMF Set to Lend $2.5 Billion to Belarus

December 31, 2008
The IMF announces plans to lend $2.5 billion to Belarus to support the country's efforts to restore economic stability. The loan, which could receive final approval in January, would support policies to help Belarus adjust to shocks from the global financial crisis.

Laissez-Faire States are Keynesian Now: How Refreshing!

December 30, 2008
U.S. economic orthodoxy once shunned government intervention and glorified laissez-faire policies. It is refreshing and edifying that the United States and some other developed economies have welcomed the Keynesian proposition of government involvement in business, writes Resa Imbuye.

IMF Spells Out Need for Global Fiscal Stimulus

December 29, 2008
As the global financial crisis threatens to stall the world economy, IMF Chief Economist Olivier Blanchard and Fiscal Affairs Department head Carlo Cottarelli enlarge on the IMF's call for a substantial fiscal stimulus to support aggregate demand and restore economic growth.

El Salvador Seeks Precautionary Arrangement from IMF

December 23, 2008
El Salvador and IMF staff agree in principle on an $800 million IMF arrangement that the country does not intend to draw on, but to hold on a precautionary basis. The IMF says the global financial turmoil has tightened financing conditions.

IMF Set to Lend $2.4 Billion to Latvia

December 19, 2008
The IMF announces plans to lend $2.4 billion to Latvia to support the country's ambitious plan for stabilizing the economy. The loan is subject to final approval but could be discussed before year-end under the IMF's fast-track emergency financing procedures.

Financial Crisis Shapes IMF Work Priorities

December 18, 2008
A principal short-term focus for the IMF will be to ensure financial support and policy advice for countries buckling under the global financial crisis. The IMF's new work program also includes studying causes of the crisis and identifying international financial reforms.

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