Countries with elevated housing prices and high household debt issued at floating rates are particularly vulnerable to monetary policy tightening
Elevated borrowing costs are adding to risks that some companies may default on their debt as central banks keep interest rates higher for longer to contain inflation
Closer ties allowed Europe to find new natural gas sources after Russia’s supply cutoff, and growing global export capacity can reduce market fragmentation
Weaker currencies make the fight to curb inflation harder given the region’s dependence on imports
The Chart of the Week brings together our economic forecasts, which reveal weaker growth amid an uncertain outlook with high downside risks
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Region would contribute about 70 percent to global growth this year—but still faces challenges from inflation, debt, and financial vulnerabilities
Inflation is slowly falling, but economic growth remains historically low and financial risks have risen
Asia should prioritize reforms that address the investment scarring from high corporate debt, mitigate education losses, and boost digitalization
Success will require tighter macroeconomic policies tailored to changing financial conditions, strong financial supervision and regulation, and bold supply-side reforms
Wage gains remain broadly in line with past episodes, which didn’t tend to lead to sustained wage-price acceleration
Fiscal policy can ease the task of monetary policy in reducing inflation while mitigating risks to financial stability
Tackling inflation while supporting growth and protecting the vulnerable warrants careful and vigilant monetary policy tightening
Analysis suggests a sustained acceleration of wages and prices is unlikely
Factors include the region’s heavy reliance on food imports and changes in food consumption and incomes.
The magazine publishes insights on international finance, economics, & development.
This issue of F&D explores how inflation dynamics have forced a re-think of how central banks conduct monetary policy
Tools such as foreign exchange intervention can ease the effects of shocks but need to be carefully weighed against potential longer-term costs.
We must work together to end the pandemic, navigate monetary tightening and shift focus to fiscal sustainability.
Following exceptional pandemic support, governments should foster disinflation and financial stability while protecting the most vulnerable and safeguarding public finances
Taming inflation requires slowing down demand. While monetary policy has played its part, lowering fiscal deficits would also help lessen the cost-of-living crisis.
Smart fiscal policy can help restore price stability and lessen the impact of the cost-of-living crisis.
Most countries in the world agreed on a major tax reform in 2021. Now it’s time to follow through with implementation.
There is scope to raise more revenue to pay for vital climate and social-development spending
Countries should prioritize protecting the vulnerable through targeted support while keeping a tight fiscal stance to help fight inflation
Rapid monetary policy tightening after years of low rates is exposing fault lines
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Elevated risk aversion amid heightened geopolitical and inflation risks and tightening monetary policies in advanced economies weighed on sentiment
Sharp rises in global interest rates could spark corporate distress and pose wider problems for many economies
The war in Ukraine and resulting increase in commodity prices are expected to contribute to a further widening this year.
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Novel survey shows how concerned people are about climate change, how they view mitigation polices, and what drives support for climate action
With the right tools, policymakers can help to manage the climate risks impacting economies and financial systems
Innovative debt swaps can help governments that have limited access to traditional grants or debt relief
A new data gaps initiative will play an important role in addressing climate-related data deficits
Innovative instruments and equity finance are needed to enhance risk-sharing through public-private partnerships and maximize the impact of scarce public funds
A new survey reveals the gender gap persists
Capturing the dividends from women’s economic equity. Too many women are locked out of economic opportunities, which is not only unfair but also harms growth and resilience for all.
The pandemic has deepened long-standing gender gaps, with women continuing to bear the burden of unpaid work. By structuring spending and taxation in ways that advance gender equality—a process called gender budgeting—governments can help close the gap.
International Women’s Day, first recognized by the United Nations in 1977, grew from early 1900s labor movements for better working conditions and women’s right to work.
Stopping violence against women is not only a moral imperative, new evidence shows that it can help the economy.
Women remain underrepresented in economics, yet many have made an outsized impact on the field.
Digital technologies shielded labor and productivity from the pandemic, while lagging countries accelerated the adoption of technology. However, digitalization gaps persist.
Regulators and supervisors must act now to strengthen the prudential framework
A new kind of multilateral platform could improve cross-border payments, leveraging technological innovations for public policy objectives
Stronger financial regulation and supervision, and developing global standards, can help address many concerns about crypto assets
Amid slowing global growth, promoting technological adoption and closing digital divides can help the region boost aggregate productivity and economic output
Our series examines how regulators, investors and central banks are embracing the promise—and bracing for the peril—of evolving financial technologies
