COVID-19
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COVID-19 AND THE WAR IN UKRAINE
News & Publications
Gulf Cooperation Council (GCC)— Enhancing Resilience to Global Shocks: Economic Prospects and Policy Challenges for the GCC Countries
Despite the challenging external environment, the GCC economies have been resilient. Non-hydrocarbon activity has remained robust amid strong domestic demand supported by the reform momentum, limited spillovers from regional, as well as the modest direct impact of higher U.S. tariffs given the exemption of energy products and limited trade ties with the U.S. While external balances narrowed amid oil production cuts and robust imports, the external positions remain overall strong. The economic outlook remains favorable but risks are tilted to the downside amidst elevated global uncertainty. Economic activity will be supported by the unwinding of oil production cuts, the expansion of natural gas production, and strong reform and project implementation facilitated by ample policy buffers. External buffers would remain comfortable despite narrower current account balances driven by higher imports. The near-term risks to the outlook are tilted to the downside, as oil prices could decline and financial conditions tighten amid high uncertainty. Over the medium term, ongoing global structural shifts pose two-sided risks for the GCC economies.
How Stablecoins Can Improve Payments and Global Finance
New technology can foster innovation and financial inclusion, or cause fragmentation and turbulence in many countries
Better Economic Measurement Is About Wiser Use, Not Just More Data
Statistics are a means, not an end, that should serve the public by helping us see the world more clearly and make better decisions
Industrial Policy Can Lift Productivity—but Comes With Risks and Trade-offs
Potential gains in targeted sectors and overall are not guaranteed and depend on careful policy design and implementation
How Europe Can Capture the AI Growth Dividend
Artificial intelligence could boost Europe’s productivity, but gains will hinge on efforts to deepen the single market and the calibration of regulation
Policy Actions Can Reinforce Growth Progress in Many G20 Economies
Concerted action on economic reforms can help the G20 achieve the group’s collective growth ambitions, but the reforms with the biggest payoff vary across countries
Sub-Saharan Africa: Steady Growth Amid Fiscal Challenges
Increasing government revenue and better managing debt can help foster resilience and accelerate growth
Podcast: Navigating a More Fragile World
With shock upon shock hitting the world economy in the last three years, IMF Managing Director Kristalina Georgieva's customary opening speech to the Annual Meetings warned of a darker global outlook and emphasized the need for the world to come together to deal with the consequences.
