Archive 2022

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Contents

• Top 10 Blogs of 2022 Chronicle Onslaught of War, Inflation, Dollar Surge
  • Published: December 29, 2022
  • Authors: Jeff Kearns
  • Summary: Readers focus on war’s impact on the world, the repercussions of a strong dollar, and what policies can help revive economic growth
• The Global Economy's Turbulent Year in Five Charts
  • Published: December 27, 2022
  • Authors: Andrew Stanley
  • Summary: Visualizations depict effects of war and inflation—and how they have changed as a new year beckons
• Countries Hurt by War and Fragility Need Strong Global Partnerships, Resources
  • Published: December 22, 2022
  • Authors: Jihad Azour, Franck Bousquet, Abebe Aemro Selassie
  • Summary: Supporting fragile and conflict-affected states in an age of compound crises is essential for global stability
• From Crypto to Central Bank Digital Currency, Podcast Tracks Fintech Boom
  • Published: December 21, 2022
  • Authors: Tobias Adrian, Tara Iyer
  • Summary: Our series examines how regulators, investors and central banks are embracing the promise—and bracing for the peril—of evolving financial technologies
• Europe Could Do Even More to Support Ukrainian Refugees
  • Published: December 15, 2022
  • Authors: Nicolo Bird, Neree Noumon
  • Summary: Greater integration into economies and labor markets would benefit Europe and refugees
• Swapping Debt for Climate or Nature Pledges Can Help Fund Resilience
  • Published: December 14, 2022
  • Authors: Kristalina Georgieva, Marcos Chamon, Vimal Thakoor
  • Summary: Innovative debt swaps can help governments that have limited access to traditional grants or debt relief
• Riding the Global Debt Rollercoaster
  • Published: December 12, 2022
  • Authors: Vitor Gaspar, Paulo Medas, Roberto Perrelli
  • Summary: The weaker growth outlook and tighter monetary policy call for prudence in managing debt and conducting fiscal policy
• Global Food Prices to Remain Elevated Amid War, Costly Energy, La Niña
  • Published: December 9, 2022
  • Authors: Christian Bogmans, Andrea Pescatori, Ervin Prifti
  • Summary: Interest-rate hikes have eased price pressures, but the weather, war and material costs could keep food prices elevated for longer
• United States Is World's Top Destination for Foreign Direct Investment
  • Published: December 7, 2022
  • Authors: Jannick Damgaard, Carlos Sánchez-Muñoz
  • Summary: The move comes amid a decline in offshore financial centers’ share of global FDI
• Climate Security and Energy Security Must Go Hand-in-Hand
  • Published: December 1, 2022
  • Authors: Gita Bhatt
  • Summary: Finance & Development magazine examines where the green energy transition stands amid geopolitical tensions
• Bridging Data Gaps Can Help Tackle the Climate Crisis
  • Published: November 28, 2022
  • Authors: Bo Li, Bert Kroese
  • Summary: A new data gaps initiative will play an important role in addressing climate-related data deficits
• Africa’s Growing Crypto Market Needs Better Regulations
  • Published: November 22, 2022
  • Authors: Habtamu Fuje, Saad Quayyum, Tebo Molosiwa
  • Summary: The risks from crypto assets are evident—it’s time to regulate
• How Fiscal Restraint Can Help Fight Inflation
  • Published: November 21, 2022
  • Authors: Tobias Adrian, Vitor Gaspar
  • Summary: Fiscal policy can ease the task of monetary policy in reducing inflation while mitigating risks to financial stability
• How Blended Finance Can Support Climate Transition in Emerging and Developing Economies
  • Published: November 15, 2022
  • Authors: Bo Li, Fabio Natalucci, Prasad Ananthakrishnan
  • Summary: Innovative instruments and equity finance are needed to enhance risk-sharing through public-private partnerships and maximize the impact of scarce public funds
• Slowing Global Economic Growth is Increasingly Evident, High-Frequency Data Show
  • Published: November 14, 2022
  • Authors: Tryggvi Gudmundsson
  • Summary: While there are multiple headwinds weighing on growth, further policy tightening is expected amid the need to bring down elevated inflation
• How Fiscal Policy Can Help Middle East, Central Asia Reduce Emissions
  • Published: November 6, 2022
  • Authors: Jihad Azour, Gareth Anderson, Ling Zhu
  • Summary: Early rollout of climate-mitigation strategies will help countries meet their Paris Agreement commitments and smooth the low-carbon transition
• Getting Back on Track to Net Zero: Three Critical Priorities for COP27
  • Published: November 4, 2022
  • Authors: Kristalina Georgieva
  • Summary: The devastation and destruction of climate change will only worsen if we fail to act now
• Methane Emissions Must Fall for World to Hit Temperature Targets
  • Published: November 2, 2022
  • Authors: Simon Black, Ian Parry, Nate Vernon-Lin
  • Summary: Fees are a promising and practical solution, especially those that build off existing business taxes common for extractive industries and agriculture
• Asia and the World Face Growing Risks From Economic Fragmentation
  • Published: October 28, 2022
  • Authors: Diego Cerdeiro, Siddharth Kothari, Chris Redl
  • Summary: Policymakers must act decisively to avoid the harm from fraying ties, and ensure trade remains an engine of growth
• Market Liquidity Strains Signal Heightened Global Financial Stability Risk
  • Published: October 27, 2022
  • Authors: Fabio Cortes, Glenn Gottselig, Shoko Ikarashi, Aki Yokoyama
  • Summary: A deterioration in market liquidity has amplified price swings
• Europe Must Address a Toxic Mix of High Inflation and Flagging Growth
  • Published: October 23, 2022
  • Authors: Alfred Kammer
  • Summary: Authorities must tighten macroeconomic policies to bring down inflation, while helping vulnerable households and viable firms cope with the energy crisis
• Pacific Island Countries Have Untapped Tax Potential
  • Published: October 20, 2022
  • Authors: Sanjaya Panth, Todd Schneider, Mouhamadou Sy
  • Summary: There is scope to raise more revenue to pay for vital climate and social-development spending
• Africa’s Inflation Among Region’s Most Urgent Challenges
  • Published: October 20, 2022
  • Authors: Marijn Bolhuis, Peter Kovacs
  • Summary: Tackling inflation while supporting growth and protecting the vulnerable warrants careful and vigilant monetary policy tightening
• Latest Global Growth Forecasts Show Challenges Facing Economies
  • Published: October 19, 2022
  • Authors: The Editors
  • Summary: The global deceleration will be broad-based, with many economies poised to contract, and the outlook remains uncertain
• How Countries Should Respond to the Strong Dollar
  • Published: October 14, 2022
  • Authors: Gita Gopinath, Pierre-Olivier Gourinchas
  • Summary: Policy responses to currency depreciation pressures should focus on the drivers of the exchange-rate moves and signs of market disruptions
• Asia Sails Into Headwinds From Rate Hikes, War, and China Slowdown
  • Published: October 13, 2022
  • Authors: Krishna Srinivasan, Shanaka J. Peiris
  • Summary: Growth forecasts have been lowered for this year and next, while inflation exceeds central bank targets in most countries
• Latin America Faces a Third Shock as Global Financial Conditions Tighten
  • Published: October 13, 2022
  • Authors: Santiago Acosta-Ormaechea, Gustavo Adler, Ilan Goldfajn, Anna Ivanova
  • Summary: Growth momentum continues but scarcer and costlier financing will slow the region’s economies, while inflation remains high. Policy priorities are to restore price stability and maintain fiscal sustainability while protecting vulnerable groups
• Fiscal Policy Can Help People Rebound From Cost of Living Crisis
  • Published: October 12, 2022
  • Authors: Vitor Gaspar, Raphael Lam, Paolo Mauro, Roberto Piazza
  • Summary: Countries should prioritize protecting the vulnerable through targeted support while keeping a tight fiscal stance to help fight inflation
• Interest Rate Increases, Volatile Markets Signal Rising Financial Stability Risks
  • Published: October 11, 2022
  • Authors: Tobias Adrian
  • Summary: Global financial conditions have tightened as central banks accelerate monetary policy normalization to keep rapid inflation from becoming entrenched
• Policymakers Need Steady Hand as Storm Clouds Gather Over Global Economy
  • Published: October 11, 2022
  • Authors: Pierre-Olivier Gourinchas
  • Summary: One-third of the world economy will likely contract this year or next amid shrinking real incomes and rising prices
• How to Scale Up Private Climate Finance in Emerging Economies
  • Published: October 7, 2022
  • Authors: Torsten Ehlers, Charlotte Gardes-Landolfini, Fabio Natalucci, Prasad Ananthakrishnan
  • Summary: Scaling up private capital is crucial to finance vital low-carbon infrastructure projects, particularly in less developed economies
• Further Delaying Climate Policies Will Hurt Economic Growth
  • Published: October 5, 2022
  • Authors: Benjamin Carton, Jean-Marc Natal
  • Summary: The transition to a greener future has a price—but the longer countries wait to make the shift, the larger the costs
• Wage-Price Spiral Risks Appear Contained Despite High Inflation
  • Published: October 5, 2022
  • Authors: John Bluedorn
  • Summary: Analysis suggests a sustained acceleration of wages and prices is unlikely
• How Illiquid Open-End Funds Can Amplify Shocks and Destabilize Asset Prices
  • Published: October 4, 2022
  • Authors: Fabio Natalucci, Mahvash S. Qureshi, Felix Suntheim
  • Summary: Mutual funds holding hard-to-sell assets but offering daily redemptions can spark volatility and magnify the impact of shocks, especially in periods of market stress
• Global Food Crisis Demands Support for People, Open Trade, Bigger Local Harvests
  • Published: September 30, 2022
  • Authors: Kristalina Georgieva, Sebastián Sosa, Björn Rother
  • Summary: Unprecedented humanitarian challenge requires rapid action to ease suffering of those without enough to eat and provide financing to countries in need
• Africa Food Prices Are Soaring Amid High Import Reliance
  • Published: September 27, 2022
  • Authors: Cedric Okou, John Spray, D. Filiz Unsal
  • Summary: Factors include the region’s heavy reliance on food imports and changes in food consumption and incomes.
• Commercial Real Estate Sector Faces Risks as Financial Conditions Tighten
  • Published: September 22, 2022
  • Authors: Andrea Deghi, Fabio Natalucci, Mahvash S. Qureshi
  • Summary: Financial conditions are an important driver of prices, and they help to explain recent divergence between different parts of the market
• Africa’s Rapid Economic Growth Hasn’t Fully Closed Income Gaps
  • Published: September 21, 2022
  • Authors: Habtamu Fuje, Jiaxiong Yao
  • Summary: Despite decades of rapid growth, regional inequalities in sub-Saharan Africa persist.
• Dominant Employers May Add to Unemployment in Rural US as Fed Raises Rates
  • Published: September 19, 2022
  • Authors: Anastasia Burya, Rui C. Mano, Yannick Timmer, Anke Weber
  • Summary: Employers with labor market power are more likely to fire workers as rates rise because they can more easily hire back when the Fed cuts rates again.
• How Africa Can Escape Chronic Food Insecurity Amid Climate Change
  • Published: September 14, 2022
  • Authors: Laurent Kemoe, Pritha Mitra, Cedric Okou, D. Filiz Unsal
  • Summary: The toll of extreme weather events on crops underscores the region’s challenges and need for policies to save lives and protect livelihoods.
• Energy Shocks Amid Rapid Inflation Could Fuel Faster Wage Gains
  • Published: September 12, 2022
  • Authors: Chikako Baba, Jaewoo Lee
  • Summary: When inflation is high, wages tend to rise more in response to a spike in oil prices. And the more wages rise, the greater the risk of a sustained increase in inflation.
• How Food and Energy are Driving the Global Inflation Surge
  • Published: September 12, 2022
  • Authors: Philip Barrett
  • Summary: 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.
• How to Close Gender Gaps and Grow the Global Economy
  • Published: September 8, 2022
  • Authors: Kristalina Georgieva, Antoinette M. Sayeh, Ratna Sahay
  • Summary: 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.
• European Fiscal Governance: A Proposal from the IMF
  • Published: September 5, 2022
  • Authors: Vitor Gaspar, Alfred Kammer, Ceyla Pazarbasioglu
  • Summary: High debt and rising interest rates put a premium on improved governance to anchor fiscal policy in EU member states.
• Reimagining Money in the Age of Crypto and Central Bank Digital Currency
  • Published: September 1, 2022
  • Authors: Gita Bhatt
  • Summary: Letter from the Editor: The recent plunge in crypto assets has left investors numbed by losses and surely in doubt. But the future of money is undoubtedly digital
• From War and Inflation to Food and Cargo, Charts Chronicle Volatile Year
  • Published: August 30, 2022
  • Authors: Andrew Stanley, Jeff Kearns
  • Summary: An overview of the top 10 Chart of the Week blogs in 2022
• New Economics Books Tackle China, Wheat, Equality, and the Dollar
  • Published: August 25, 2022
  • Authors: Jeff Kearns
  • Summary: Amid war and inflation, debt and fragmentation, now may be a better time than ever to step back and consider the bigger and more enduring questions of lives and livelihoods.
• Achieving Net-Zero Emissions Requires Closing a Data Deficit
  • Published: August 23, 2022
  • Authors: Charlotte Gardes-Landolfini, Fabio Natalucci
  • Summary: High-quality, reliable, and comparable gauges are lacking. Here’s how to close the gap.
• Crypto is More in Line with Asian Equities, Highlighting Need for Regulation
  • Published: August 21, 2022
  • Authors: Nada Choueiri, Anne-Marie Gulde-Wolf, Tara Iyer
  • Summary: Crypto trading volume, and co-movement with equity markets, has surged in the region.
• Public Sector Must Play Major Role in Catalyzing Private Climate Finance
  • Published: August 18, 2022
  • Authors: Kristalina Georgieva, Tobias Adrian
  • Summary: Climate change is one of the most critical macroeconomic and financial policy challenges that IMF members face in coming decades.
• Climate Change Mitigation Will Cause Large Adjustments in Current Account Balances
  • Published: August 16, 2022
  • Authors: Rudolfs Bems, Luciana Juvenal
  • Summary: A climate mitigation policy mix of carbon taxes, green subsidies, and infrastructure investment could reduce global balances by a quarter by 2027. But only if countries coordinate their response.
• Central Banks Hike Interest Rates in Sync to Tame Inflation Pressures
  • Published: August 10, 2022
  • Authors: Tobias Adrian, Fabio Natalucci
  • Summary: During the pandemic, central banks in both advanced and emerging market economies took unprecedented measures to ease financial conditions and support the economic recovery, including interest-rate cuts and asset purchases.
• Global Current Account Balances Widen Amid War and Pandemic
  • Published: August 4, 2022
  • Authors: Giovanni Ganelli, Pau Rabanal, Niamh Sheridan
  • Summary: The war in Ukraine and resulting increase in commodity prices are expected to contribute to a further widening this year.
• How Europe Can Protect the Poor from Surging Energy Prices
  • Published: August 3, 2022
  • Authors: Oya Celasun, Dora Iakova, Ian Parry
  • Summary: With fossil fuels likely to remain expensive for some time, governments should let retail prices rise to promote energy conservation while protecting poorer households.
• Soaring Inflation Puts Central Banks on a Difficult Journey
  • Published: August 1, 2022
  • Authors: Tobias Adrian, Christopher Erceg, Fabio Natalucci
  • Summary: Upside risks to the inflation outlook remain large, and more aggressive tightening may be needed if these risks materialize.
• Asia’s Economies Face Weakening Growth, Rising Inflation Pressures
  • Published: July 28, 2022
  • Authors: Krishna Srinivasan
  • Summary: A multifaced response, including increasing interest rates, is needed to prevent an upward spiral of price expectations and rising capital outflows.
• Shifting Global Winds Pose Challenges to Latin America
  • Published: July 27, 2022
  • Authors: Gustavo Adler, Ilan Goldfajn, Anna Ivanova
  • Summary: The region continued its strong recovery in early 2022, but decelerating economic activity and persistent inflation will test its resilience.
• Global Economic Growth Slows Amid Gloomy and More Uncertain Outlook
  • Published: July 26, 2022
  • Authors: Pierre-Olivier Gourinchas
  • Summary: The world’s three largest economies are stalling, with important consequences for the global outlook. Inflation is a major concern.
• More Countries Are Pricing Carbon, but Emissions Are Still Too Cheap
  • Published: July 21, 2022
  • Authors: Simon Black, Ian Parry, Karlygash Zhunussova
  • Summary: Carbon pricing, in one form or another, is likely to be an essential element of mitigation strategies as the world transitions to net zero over the next three decades
• How a Russian Natural Gas Cutoff Could Weigh on Europe’s Economies
  • Published: July 19, 2022
  • Authors: Mark Flanagan, Alfred Kammer, Andrea Pescatori, Martin Stuermer
  • Summary: The partial shutoff of gas deliveries is already affecting European growth, and a full shutdown could be substantially more severe.
• Facing a Darkening Economic Outlook: How the G20 Can Respond
  • Published: July 13, 2022
  • Authors: Kristalina Georgieva
  • Summary: As G20 ministers and central bank governors gather in Bali this week, they face a global economic outlook that has darkened significantly.
• Middle East Needs Fairer Taxes to Aid Growth and Ease Inequality
  • Published: July 6, 2022
  • Authors: Jihad Azour, Priscilla Muthoora, Geneviève Verdier
  • Summary: More progressive taxes with fewer exemptions would help governments pay for immediate spending priorities and make societies fairer.
• Greenhouse Emissions Rise to Record, Erasing Drop During Pandemic
  • Published: June 30, 2022
  • Authors: P. Bhanumati, Mark de Haan
  • Summary: The latest data from the IMF's Climate Change Indicators Dashboard reveals a worrying picture
• Capital Markets Regulation Is Stronger, but Some Gaps Still Must be Closed
  • Published: June 29, 2022
  • Authors: Tobias Adrian, Jay Surti
  • Summary: Countries have made substantial progress toward implementing capital markets regulatory reform, but important gaps remain and new challenges have raised the bar.
• More African Central Banks Are Exploring Digital Currencies
  • Published: June 24, 2022
  • Authors: Habtamu Fuje, Saad Quayyum, Franck Ouattara
  • Summary: 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.
• From 1980s Debt Crisis to Crypto Era, Financial Stability Monitoring is Always Evolving
  • Published: June 22, 2022
  • Authors: Tobias Adrian, Fabio Natalucci, Mahvash S. Qureshi
  • Summary: The IMF’s Global Financial Stability Report, introduced in 2002, was a step toward a more comprehensive assessment of risks in financial markets and cross-border capital flows.
• How Crypto and CBDCs Can Use Less Energy Than Existing Payment Systems
  • Published: June 17, 2022
  • Authors: Itai Agur, Xavier Lavayssière, Germán Villegas Bauer
  • Summary: Environmentally conscious design can make a major difference in the energy efficiency of digital currencies.
• Where Are the World’s Fastest Roads?
  • Published: June 15, 2022
  • Authors: Mariano Moszoro, Mauricio Soto
  • Summary: 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.
• The Caribbean and the IMF: Building on a Strong Partnership
  • Published: June 14, 2022
  • Summary: By Kristalina Georgieva, Managing Director, International Monetary Fund
• How Replacing Coal With Renewable Energy Could Pay For Itself
  • Published: June 8, 2022
  • Authors: Tobias Adrian, Patrick Bolton, Alissa M. Kleinnijenhuis
  • Summary: The world may gain an estimated $78 trillion over coming decades by making this energy transition.
• Response to High Food, Energy Prices Should Focus on Most Vulnerable
  • Published: June 7, 2022
  • Authors: David Amaglobeli, Emine Hanedar, Gee Hee Hong, Céline Thévenot
  • Summary: Countries should allow international prices to pass through to domestic prices while protecting households that are most in need.
• A Deeper Look at Forces Fragmenting Our World—and How to Respond
  • Published: June 2, 2022
  • Authors: Gita Bhatt
• Dollar Dominance and the Rise of Nontraditional Reserve Currencies
  • Published: June 1, 2022
  • Authors: Serkan Arslanalp, Barry Eichengreen, Chima Simpson-Bell
  • Summary: The greenback’s share of global foreign-exchange reserves has extended a two-decade decline, but it’s still used more than all other currencies combined.
• Real-Time Economic Indicators Help Better Track Activity in Africa
  • Published: May 27, 2022
  • Authors: Seung Mo Choi, Tara Iyer
  • Summary: Economists are increasingly turning to new technologies that help track indicators such as growth and inflation in real time to sharpen their forecasts and offer better input for policymakers.
• Middle East and North Africa’s Commodity Importers Hit by Higher Prices
  • Published: May 24, 2022
  • Authors: Jihad Azour, Jeta Menkulasi, Rodrigo Garcia-Verdu
  • Summary: Higher commodity prices, propelled upwards by war in Ukraine, will have a significant economic impact on the region.
• Why We Must Resist Geoeconomic Fragmentation—And How
  • Published: May 22, 2022
  • Authors: Kristalina Georgieva, Gita Gopinath, Ceyla Pazarbasioglu
• Social Unrest is Rising, Adding to Risks for Global Economy
  • Published: May 20, 2022
  • Authors: Philip Barrett
  • Summary: After a pause in popular protest during the first year of the pandemic, people are returning to the streets.
• Why Countries Must Cooperate on Carbon Prices
  • Published: May 19, 2022
  • Authors: Jean Chateau, Florence Jaumotte, Gregor Schwerhoff
  • Summary: An international floor price for carbon could speed the world’s transition to green energy without compromising countries’ competitiveness.
• Healing the Pandemic’s Economic Scars Demands Prompt Action
  • Published: May 17, 2022
  • Authors: Mehdi Benatiya Andaloussi, Lone Engbo Christiansen, Ashique Habib, Davide Malacrino
• Lower Oil Reliance Insulates World From 1970s-Style Crude Shock
  • Published: May 5, 2022
  • Authors: Nico Valckx
  • Summary: war in Ukraine and sanctions on Russia are causing substantial economic spillovers, notably for energy.
• Africa Faces New Shock as War Raises Food and Fuel Costs
  • Published: April 28, 2022
  • Authors: Abebe Aemro Selassie, Peter Kovacs
  • Summary: The effects of the war in Ukraine leave policymakers with little room to maneuver.
• Inflation to be Elevated for Longer on War, Demand, Job Markets
  • Published: April 27, 2022
  • Authors: Jorge Alvarez, Philip Barrett
  • Summary: The war in Ukraine will quicken inflation, which we now expect to remain elevated for longer than previously forecast on higher commodity costs and broader price pressures.
• Latin America Faces Unusually High Risks
  • Published: April 26, 2022
  • Authors: Santiago Acosta-Ormaechea, Ilan Goldfajn, Jorge Roldós
• Asia Growth Slows on Commodities, Covid and Rising Interest Rates
  • Published: April 25, 2022
  • Authors: Anne-Marie Gulde-Wolf, Shanaka J. Peiris
  • Summary: Region’s policymakers face difficult policy trade-offs and should protect the most vulnerable from rising fuel and food costs while enacting economic reforms to boost long-term growth.
• War in Ukraine is Serious Setback to Europe’s Economic Recovery
  • Published: April 21, 2022
  • Authors: Alfred Kammer
  • Summary: Ukraine and Russia face the sharpest economic contractions, but other countries could also fall into recession this year.
• Governments Need Agile Fiscal Policies as Food and Fuel Prices Spike
  • Published: April 20, 2022
  • Authors: Jean-Marc Fournier, Vitor Gaspar, Paulo Medas, Roberto Accioly Perrelli
  • Summary: Spending imperatives from pandemic and war meet high debt and tight budget constraints.
• Financial Stability Risks Grow as War Complicates Push to Contain Inflation
  • Published: April 19, 2022
  • Authors: Tobias Adrian
  • Summary: While no systemic event has materialized, the balance of risks has tilted more firmly to the downside.
• War Dims Global Economic Outlook as Inflation Accelerates
  • Published: April 19, 2022
  • Authors: Pierre-Olivier Gourinchas
  • Summary: The effects of the war will propagate far and wide, adding to price pressures and exacerbating significant policy challenges. Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine.
• Private Debt to Weigh on Global Economic Recovery
  • Published: April 18, 2022
  • Authors: Silvia Albrizio, Sonali Das, Christoffer Koch, Jean-Marc Natal, Philippe Wingender
  • Summary: A record rise in private debt could slow the economic recovery, but the drag on growth will vary across countries and within them.
• Emerging-Market Banks’ Government Debt Holdings Pose Financial Stability Risks
  • Published: April 18, 2022
  • Authors: Andrea Deghi, Fabio Natalucci, Mahvash S. Qureshi
  • Summary: Banks’ holdings of sovereign debt rise to a record as governments spend to cushion pandemic impact.
• Global Economic Uncertainty, Surging Amid War, May Slow Growth
  • Published: April 15, 2022
  • Authors: Hites Ahir, Nicholas Bloom, Davide Furceri
  • Summary: As the war in Ukraine unfolds, global uncertainty has surged, according to the latest reading of the World Uncertainty Index—a quarterly measure across 143 countries.
• The Right Labor Market Policies Can Ease the Green Jobs Transition
  • Published: April 13, 2022
  • Authors: John Bluedorn, Niels-Jakob Hansen
  • Summary: Measures include job training, tax credits for lower-income workers, green infrastructure and R&D investment push, and a carbon tax.
• Fast-Moving FinTech Poses Challenge for Regulators
  • Published: April 13, 2022
  • Authors: Antonio Garcia Pascual, Fabio Natalucci
  • Summary: Emerging firms are quickly making inroads into critical financial services, and often taking on more risk than traditional banks.
• Tax Coordination Can Lead to a Fairer, Greener Global Economy
  • Published: April 12, 2022
  • Authors: Vitor Gaspar, Shafik Hebous, Paolo Mauro
  • Summary: Cooperation across countries can raise revenue, tackle inequality, and fight climate change.
• Global Trade Needs More Supply Diversity, Not Less
  • Published: April 12, 2022
  • Authors: Davide Malacrino, Adil Mohommad, Andrea F. Presbitero
  • Summary: Countries with trade partners that implemented more stringent lockdowns had a sharper drop in imports.
• Dangerous Global Debt Burden Requires Decisive Cooperation
  • Published: April 11, 2022
  • Authors: Vitor Gaspar, Ceyla Pazarbasioglu
  • Summary: With elevated risks to sovereign debt, a global cooperative approach is necessary to reach an orderly resolution of debt problems and prevent defaults.
• Restructuring Debt of Poorer Nations Requires More Efficient Coordination
  • Published: April 7, 2022
  • Authors: Guillaume Chabert, Martin Cerisola, Dalia Hakura
  • Summary: An improved common framework for debt treatment could clear a path through an increasingly complex creditor landscape.
• First Global Bank Stress Test Highlights Increased Financial Resilience
  • Published: April 6, 2022
  • Authors: Tobias Adrian, Vikram Haksar, Ivo Krznar
  • Summary: The world’s banking systems saw significant capital increases ahead of the pandemic and are resilient to very large shocks.
• How Africa Can Navigate Growing Monetary Policy Challenges
  • Published: April 4, 2022
  • Authors: Tobias Adrian, Gaston Gelos, David Hofman
  • Summary: Tools such as foreign exchange intervention can ease the effects of shocks but need to be carefully weighed against potential longer-term costs.
• Tight Jobs Market Is a Boon for Workers But Could Add To Inflation Risks
  • Published: March 31, 2022
  • Authors: Romain Duval, Myrto Oikonomou, Marina M. Tavares
• Why the IMF is Updating its View on Capital Flows
  • Published: March 30, 2022
  • Authors: Tobias Adrian, Gita Gopinath, Pierre-Olivier Gourinchas, Ceyla Pazarbasioglu, Rhoda Weeks-Brown
  • Summary: In some circumstances, countries should have the option of pre-emptively curbing debt inflows to safeguard macroeconomic and financial stability.
• Without Adaptation, Middle East and Central Asia Face Crippling Climate Losses
  • Published: March 30, 2022
  • Authors: Jihad Azour, Christoph Duenwald
  • Summary: International cooperation is essential to manage the costs and maximize the benefits of adaptation, particularly for the most vulnerable countries.
• How Soaring Shipping Costs Raise Prices Around the World
  • Published: March 28, 2022
  • Authors: Yan Carrière-Swallow, Pragyan Deb, Davide Furceri, Daniel Jiménez, Jonathan D. Ostry
• Special Purpose Entities Shed Light on the Drivers of Foreign Direct Investment
  • Published: March 25, 2022
  • Authors: Evrim Bese Goksu, Theo Bikoi, Padma Hurree Gobin
• Personal Income Tax Has Untapped Potential in Poorer Countries
  • Published: March 24, 2022
  • Authors: Dora Benedek, Juan Carlos Benítez, Charles Vellutini
• Poor and Vulnerable Countries Need Support to Adapt to Climate Change
  • Published: March 23, 2022
  • Authors: Kristalina Georgieva, Vitor Gaspar, Ceyla Pazarbasioglu
  • Summary: By Kristalina Georgieva, Vitor Gaspar and Ceyla Pazarbasioglu
• Pandemic’s E-commerce Surge Proves Less Persistent, More Varied
  • Published: March 17, 2022
  • Authors: Joel Alcedo, Alberto Cavallo, Bricklin Dwyer, Prachi Mishra, Antonio Spilimbergo
• War-Fueled Surge in Food Prices to Hit Poorer Nations Hardest
  • Published: March 16, 2022
  • Authors: Christian Bogmans, Jeff Kearns, Andrea Pescatori, Ervin Prifti
• How War in Ukraine Is Reverberating Across World’s Regions
  • Published: March 15, 2022
  • Authors: Alfred Kammer, Jihad Azour, Abebe Aemro Selassie, Ilan Goldfajn, Chang Yong Rhee
• Financial Systems of Caucasus, Central Asia Are Particularly Vulnerable to Shocks
  • Published: March 10, 2022
  • Authors: Rayah Al-Farah, Klakow Akepanidtaworn, Sanan Mirzayev
  • Summary: Heavily reliant on commodity exports, remittances and tourism, the economies of the Caucasus and Central Asia and their financial systems are vulnerable to volatile external shocks.
• Gender Budgeting Is More Widespread But Implementation Remains a Challenge
  • Published: March 8, 2022
  • Authors: Teresa Curristine, Nino Tchelishvili, Sureni Weerathunga
  • Summary: 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.
• How Empowering Women Supports Economic Growth
  • Published: March 7, 2022
  • Authors: The Editors
  • Summary: 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.
• Rethinking Fiscal Policy and Debt for a Post-Pandemic World
  • Published: March 2, 2022
  • Authors: Gita Bhatt
• Sustainable Finance in Emerging Markets is Enjoying Rapid Growth, But May Bring Risks
  • Published: March 1, 2022
  • Authors: Deepali Gautam, Rohit Goel, Fabio Natalucci
• Economic Indicators Signal Diminished Growth Momentum at Start of Year
  • Published: February 24, 2022
  • Authors: Tryggvi Gudmundsson
• Governments Must Choose to Support or Restructure Heavily Indebted Firms
  • Published: February 23, 2022
  • Authors: Ceyla Pazarbasioglu, Rhoda Weeks-Brown
• Should Monetary Finance Remain Taboo?
  • Published: February 22, 2022
  • Authors: Itai Agur, Damien Capelle, Giovanni Dell’Ariccia, Damiano Sandri
• Pandemic Tests Resilience and Credibility of Fiscal Rules
  • Published: February 18, 2022
• Supply Disruptions Add to Inflation, Undermine Recovery in Europe
  • Published: February 17, 2022
  • Authors: Kristalina Georgieva, Oya Celasun, Alfred Kammer
  • Summary: With supply constraints likely to persist, the challenge for policymakers is to support recovery without allowing high inflation to become entrenched.
• Three Policy Priorities for a Robust Recovery
  • Published: February 16, 2022
  • Authors: Kristalina Georgieva
  • Summary: We must work together to end the pandemic, navigate monetary tightening and shift focus to fiscal sustainability.
• Median Inflation Gauge Offers Better Read on Price Trends
  • Published: February 14, 2022
  • Authors: Laurence Ball, Daniel Leigh, Prachi Mishra, Antonio Spilimbergo
• Europe’s Consumers are Sitting on 1 Trillion Euros in Pandemic Savings
  • Published: February 10, 2022
  • Authors: Thomas McGregor, Nujin Suphaphiphat, Frederik Toscani
• Countries in the IMF Financial Stability Spotlight in 2022
  • Published: February 3, 2022
  • Authors: The Editors
• Pandemic Scars May be Twice as Deep for Students in Developing Countries
  • Published: February 3, 2022
  • Authors: Ruchir Agarwal
• Latin America’s Strong Recovery is Losing Momentum, Underscoring Reform Needs
  • Published: January 31, 2022
  • Authors: Ilan Goldfajn, Anna Ivanova, Jorge Roldós
• Global Inflation Pressures Broadened on Food and Energy Price Gains
  • Published: January 28, 2022
  • Authors: Jorge Alvarez, Philip Barrett
• Pandemic Tests Resilience and Credibility of Fiscal Rules
  • Published: January 27, 2022
  • Authors: Paulo Medas, Raphael Lam
  • Summary: Record debt and deficits during the pandemic prompted many nations to suspend their fiscal rules.
• Low Real Interest Rates Support Asset Prices, But Risks Are Rising
  • Published: January 27, 2022
  • Authors: Tobias Adrian, Nassira Abbas
  • Summary: A large and sudden jump in real interest rates could lead to a further selloff in stocks.
• A Disrupted Global Recovery
  • Published: January 25, 2022
  • Authors: Gita Gopinath
  • Summary: Growth slows as economies grapple with supply disruptions, higher inflation, record debt and persistent uncertainty.
• Fragile and Conflict-Affected Economies Are Falling Further Behind
  • Published: January 21, 2022
  • Authors: Franck Bousquet
  • Summary: Even before the pandemic, fragile and conflict-affected states (FCS) already confronted some of the greatest challenges among the world’s economies.
• A New Trust to Help Countries Build Resilience and Sustainability
  • Published: January 20, 2022
  • Authors: Ceyla Pazarbasioglu, Uma Ramakrishnan
• Why Jobs are Plentiful While Workers are Scarce
  • Published: January 19, 2022
  • Authors: Carlo Pizzinelli, Ippei Shibata
• How the IMF Continues to Change To Confront Global Challenges
  • Published: January 18, 2022
  • Authors: Ceyla Pazarbasioglu
  • Summary: From COVID-19 to climate change, economies are facing new challenges.
• Global Shipping Costs Are Moderating, But Pressures Remain
  • Published: January 13, 2022
  • Authors: Parisa Kamali
• Support for Africa’s Vaccine Production is Good for the World
  • Published: January 12, 2022
  • Authors: Kristalina Georgieva
  • Summary: Robust and reliable vaccine capacity in Africa is a global public good, deserving of global support.
• Crypto Prices Move More in Sync With Stocks, Posing New Risks
  • Published: January 11, 2022
  • Authors: Tobias Adrian, Tara Iyer, Mahvash S. Qureshi
  • Summary: There’s a growing interconnectedness between virtual assets and financial markets.
• Emerging Economies Must Prepare for Fed Policy Tightening
  • Published: January 10, 2022
  • Authors: Stephan Danninger, Kenneth Kang, Hélène Poirson
• Emerging-Market Central Bank Asset Purchases Can Be Effective but Carry Risks
  • Published: January 5, 2022
  • Authors: Tobias Adrian, Christopher Erceg, Simon Gray, Ratna Sahay
  • Summary: Asset purchases can be an effective tool, but it is critical to minimize risks to central bank independence and price stability.

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Source: https://www.imf.org/en/blogs/archive/2022