Trade openness increased after the Second World War, but has slowed following the global financial crisis
Despite sharp monetary policy tightening, financial conditions have eased around much of the globe, posing a challenge for central banks
Restoring macro stability and boosting growth will require carefully-crafted policies that will help mitigate discontent
Sharp rises in global interest rates could spark corporate distress and pose wider problems for many economies
The fight against inflation is starting to pay off, but central banks must continue their efforts
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From Brexit and US-China trade tensions to the pandemic and war, successive shocks have combined to keep uncertainty elevated
While there are multiple headwinds weighing on growth, further policy tightening is expected amid the need to bring down elevated inflation
Policymakers must act decisively to avoid the harm from fraying ties, and ensure trade remains an engine of growth
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
The risks from crypto assets are evident—it’s time to regulate
Crypto trading volume, and co-movement with equity markets, has surged in the region.
Several sub-Saharan African central banks are exploring or in the pilot phase of a digital currency, following Nigeria’s October introduction of e-Naira.
The weaker growth outlook and tighter monetary policy call for prudence in managing debt and conducting fiscal policy
With elevated risks to sovereign debt, a global cooperative approach is necessary to reach an orderly resolution of debt problems and prevent defaults.
An improved common framework for debt treatment could clear a path through an increasingly complex creditor landscape.
Policymakers must strike the right balance in the face of high debt and rising inflation.
With the debt service suspension initiative expiring and interest rates poised to rise, low-income countries will find it increasingly difficult to service their debts.
Restructuring domestic debt is like surgery: You only do it if you must, and you avoid it if it might do more harm than good.
Innovative debt swaps can help governments that have limited access to traditional grants or debt relief
The magazine publishes insights on international finance, economics, & development.
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
Early rollout of climate-mitigation strategies will help countries meet their Paris Agreement commitments and smooth the low-carbon transition
Greater integration into economies and labor markets would benefit Europe and refugees
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IMF staff have developed a novel measure of road quality across 162 countries using Google Maps to determine the mean, or average, time it takes to drive between large cities that are at least 80 kilometers (50 miles) apart.
Even before the pandemic, fragile and conflict-affected states (FCS) already confronted some of the greatest challenges among the world’s economies.
G20 should lead in sharing vaccine doses, helping developing countries financially, and committing to reaching net-zero carbon emissions by mid-century.
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.
Rapid increases in food prices have been one of the main drivers of quickening inflation around the world, as our Chart of the Week shows.
The region continued its strong recovery in early 2022, but decelerating economic activity and persistent inflation will test its resilience.
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.