World Economic Outlook, April 2009: Crisis and Recovery

World Economic Outlook, April 22, 2009

Source details

Examines how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses.
Presents economic projections for 2009 and 2010.
Looks beyond the immediate crisis to factors shaping the medium-term global economic landscape as businesses and households repair the damage.
Outlines the tension between the overwhelming imperative to restore financial stability and revive the global economy and the longer-run need for national actions to be mutually supporting.

The shape of the eventual recovery, examining the characteristics and possible trajectories of post-crisis economic revival.
The role of external financial linkages and financial stress in transmitting economic shocks from advanced to emerging and developing economies.

The escalation of financial stress in September 2008 was a catalyst for an unprecedented contraction in global activity and trade.
Active policy responses were implemented but the contraction remained severe.
Recovery considerations require attention to both short-run stabilization and medium-term structural interactions across countries.

Short-term economic projections are provided for 2009 and 2010.
Analysis explicitly considers medium-term factors shaping the global economy after the immediate crisis period.

Immediate priority: take all steps necessary to restore financial stability and revive the global economy.
Medium- to longer-run priority: ensure national policy actions are mutually supporting to foster a sustained global recovery.

International Monetary Fund. World Economic Outlook, April 2009: Crisis and Recovery.