Archive 2024

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Contents

• Artificial Intelligence, Dollar, Growth, and Debt Drove 2024 Blog Readership
  • Published: December 30, 2024
  • Authors: Jeff Kearns
  • Summary: Complex global economic challenges, and the careful policy responses that the world needs to foster sustainable growth and financial stability, were the most popular
• Why Latin America Needs Lower Deficits and Stronger Fiscal Rules
  • Published: December 18, 2024
  • Authors: Juan Passadore, Juan Pedro Treviño, Rodrigo Valdés
  • Summary: The increase in debt in the last decade points to the need for lowering deficits, rebuilding space to deal with shocks, and strengthening fiscal rules
• Europe Needs a Coordinated Approach to Industrial Policy
  • Published: December 16, 2024
  • Authors: Alfred Kammer, Andrew Hodge, Roberto Piazza
  • Summary: The success of government interventions depends not just on how much is spent, but on spending it well.
• Breaking Latin America’s Cycle of Low Growth and Violence
  • Published: December 5, 2024
  • Authors: Ilan Goldfajn, Rodrigo Valdés
  • Summary: Crime directly costs the region more than 3 percent of GDP and lowers growth. Economic instability, in turn, drives higher rates of crime. Actions can be taken to break this vicious cycle.
• Housing’s Unique Role in Lives and Economies Demands Greater Understanding
  • Published: December 4, 2024
  • Authors: Gita Bhatt
  • Summary: Affordability and other complex housing issues challenging governments can be better revealed in broader economic analysis
• The 2004 EU Enlargement Was a Success Story Built on Deep Reform Efforts
  • Published: December 3, 2024
  • Authors: Robert Beyer, Claire Yi Li, Sebastian Weber
  • Summary: New accession candidates will need to undertake equally ambitious reforms to make the next expansion a comparable success
• Persistent Fall in Private Borrowing Brings Global Debt Down
  • Published: December 2, 2024
  • Authors: Vitor Gaspar, Carlos Gonçalves, Marcos Poplawski-Ribeiro
  • Summary: Empirical analysis points to low growth prospects as the main driver of this trend in 2023.
• G20 Economies Should Target Reforms to Boost Medium-Term Growth Prospects
  • Published: November 21, 2024
  • Authors: Paula Beltran Saavedra, Nicolas Fernandez-Arias, Chanpheng Fizzarotti, Alberto Musso
  • Summary: Improving fiscal policy frameworks, fostering education and skills, and supporting the green transition can help ensure strong, sustainable, balanced, and inclusive growth
• New European Wealth Gauge Helps Policymakers Address Inequality
  • Published: November 19, 2024
  • Authors: Henning Ahnert, Francien Berry, Darja Milic, Jorrit Zwijnenburg
  • Summary: Combined measure allows for a deeper understanding of how wealth distribution affects the overall health of economies
• The Clock is Ticking on Sub-Saharan Africa's Urgent Job Creation Challenge
  • Published: November 12, 2024
  • Authors: Athene Laws, Faten Saliba, Can Sever, Luc Tucker
  • Summary: To employ a growing population, the region needs to transform informal jobs, reduce barriers to business growth, and create conditions conductive to jobs growth in higher productivity sectors—especially in fragile and low-income countries
• How Property Taxes Can Help Low-Income Countries to Develop
  • Published: November 11, 2024
  • Authors: Martin Grote, Mario Mansour, Jean-François Wen
  • Summary: Satellites, drones, and the right policies can help countries increase revenue by up to 10 times at the local level
• Asia’s Economies Can Embrace Services to Boost Growth and Productivity
  • Published: November 1, 2024
  • Authors: Chikako Baba, Rahul Giri, Krishna Srinivasan
  • Summary: Manufacturing has been the engine of growth in Asia, but a transition to modern, tradable services could be new source of growth and productivity
• As Inflation Recedes, Global Economy Needs Policy Triple Pivot
  • Published: October 22, 2024
  • Authors: Pierre-Olivier Gourinchas
  • Summary: Growth is projected to hold steady, but amid weakening prospects and rising threats, the world needs a shift in policy gears
• Global Financial Fragilities Mount Despite Rate Cuts and Buoyant Markets
  • Published: October 22, 2024
  • Authors: Tobias Adrian, Sheheryar Malik, Jason Wu
  • Summary: Increased investor risk-taking could fuel vulnerabilities
• Support for Economic Reforms Hinges on Communication, Engagement, and Trust
  • Published: October 16, 2024
  • Authors: Silvia Albrizio, Bertrand Gruss, Yu Shi
  • Summary: Effective communication, civic engagement, and earning the public's trust are the keys to advance pro-growth reforms
• Global Inflationary Episode Offers Lessons for Monetary Policy
  • Published: October 16, 2024
  • Authors: Jorge Alvarez, Alberto Musso, Jean-Marc Natal, Sebastian Wende
  • Summary: The inflation surge followed a unique disruption to the global economy, but it still offers important lessons for central banks
• How High Economic Uncertainty May Threaten Global Financial Stability
  • Published: October 15, 2024
  • Authors: Mario Catalán, Andrea Deghi, Mahvash S. Qureshi
  • Summary: Unknowns raise risk of financial market volatility and a sharp decline in economic growth
• Artificial Intelligence Can Make Markets More Efficient—and More Volatile
  • Published: October 15, 2024
  • Authors: Nassira Abbas, Charles Cohen, Dirk Jan Grolleman, Benjamin Mosk
  • Summary: AI-driven trading could lead to faster and more efficient markets, but also higher trading volumes and greater volatility in times of stress
• Global Public Debt Is Probably Worse Than it Looks
  • Published: October 15, 2024
  • Authors: Era Dabla-Norris, Davide Furceri, Raphael Lam, Jeta Menkulasi
  • Summary: Elevated risks to public debt call for enduring and carefully designed fiscal adjustments
• When Foreign Exchange Intervention Can Best Help Countries Navigate Shocks
  • Published: October 10, 2024
  • Authors: Suman Basu, Sonali Das, Olamide Harrison, Erlend Nier
  • Summary: Intervention, when appropriate, should be used as part of an integrated policy approach that incorporates other policy levers to mitigate risks
• Why Women Risk Losing Out in Shift to Green Jobs
  • Published: October 7, 2024
  • Authors: Stefania Fabrizio, Florence Jaumotte, Marina M. Tavares
  • Summary: Closing the gender gap in science, technology, engineering, and math would accelerate the green transition while making it more inclusive
• How Europe Can Make Carbon Pricing Policies Less Regressive
  • Published: September 26, 2024
  • Authors: Geoffroy Dolphin, Magnus Merkle
  • Summary: Easing the burden on lower-income households is not only socially fair, but also economically efficient
• Political Parties of all Stripes are Pushing for Higher Government Spending
  • Published: September 16, 2024
  • Authors: Era Dabla-Norris, Enrico Di Gregorio, Yongquan Cao
  • Summary: Large fiscal deficits and elevated debt levels call for greater fiscal prudence, but political forces are pulling in the opposite way
• Trade Balances in China and the US Are Largely Driven by Domestic Macro Forces
  • Published: September 12, 2024
  • Authors: Pierre-Olivier Gourinchas, Ceyla Pazarbasioglu, Krishna Srinivasan, Rodrigo Valdés
  • Summary: Worries that China’s external surpluses result from industrial policies reflect an incomplete view
• How to Awaken Europe's Private Sector and Boost Economic Growth
  • Published: September 11, 2024
  • Authors: Diego Cerdeiro, Gee Hee Hong, Alfred Kammer
  • Summary: EU companies grow and innovate less than American counterparts
• Fed Rate Cuts May Help Revive Bond Flows to Emerging, Developing Economies
  • Published: September 5, 2024
  • Authors: Paula Arias, Robin Koepke
  • Summary: Some higher risk countries still face high costs for selling foreign-currency denominated debt to investors after major central banks raised interest rates
• Sustained Economic Growth Hinges on Productivity Gains as Populations Age
  • Published: September 4, 2024
  • Authors: Gita Bhatt
  • Summary: A productivity slump is eroding living standards and imperiling financial and social stability
• Women Lead Record Number of Central Banks, but More Progress is Needed
  • Published: August 29, 2024
  • Authors: The Editors
  • Summary: New governors in Bosnia and Herzegovina and Papua New Guinea lifted the share of central banks with women leaders to 16 percent
• Economics Authors Confront Toughest Questions on Data, History, and Theory
  • Published: August 21, 2024
  • Authors: The Editors
  • Summary: New books offer fresh perspectives on climate, China, and John Maynard Keynes
• Carbon Emissions from AI and Crypto Are Surging and Tax Policy Can Help
  • Published: August 15, 2024
  • Authors: Shafik Hebous, Nate Vernon-Lin
  • Summary: Crypto mining and data centers now account for 2 percent of global electricity use and nearly 1 percent of global emissions, and their footprint is growing.
• Now Is the Time to Help Countries Faced with Liquidity Challenges
  • Published: August 1, 2024
  • Authors: Ceyla Pazarbasioglu, Pablo Saavedra
  • Summary: With elevated debt service squeezing the space available to finance much needed investment in many countries, urgent action is needed to boost fiscal space, maintain adequate international support, and reduce debt servicing costs.
• A Low-Growth World Is an Unequal, Unstable World
  • Published: July 23, 2024
  • Authors: Kristalina Georgieva
  • Summary: Long periods of slow economic growth can cause a jump in inequality. But a balanced set of policies can stave off that outcome.
• Financial Stability Implications of Emerging Market Currency Developments
  • Published: July 22, 2024
  • Authors: Tobias Adrian, Fabio Natalucci, Jason Wu
  • Summary: Currencies have depreciated to varying degrees in emerging market economies as interest rate differentials with the United States narrowed
• Global Growth Steady Amid Slowing Disinflation and Rising Policy Uncertainty
  • Published: July 16, 2024
  • Authors: Pierre-Olivier Gourinchas
  • Summary: Major economies are becoming more aligned, but the world’s medium-term prospects remain weak
• Europe Can Better Support Venture Capital to Boost Growth and Productivity
  • Published: July 15, 2024
  • Authors: Nathaniel Arnold, Guillaume Claveres, Jan Frie
  • Summary: Reforms could increase investment in high-tech startups that power innovation
• Emerging Markets Show Resilience Despite Global Monetary Tightening
  • Published: July 12, 2024
  • Authors: Cian Allen, Rudolfs Bems
  • Summary: Unlike past episodes, emerging market capital flows have remained largely resilient in the face of global monetary tightening, even as global capital flows have fallen
• Integrating Economic and Climate Data Will Strengthen Climate Policy
  • Published: July 9, 2024
  • Authors: James Tebrake, Francien Berry, Darja Milic
  • Summary: Data Gaps Initiative helps policymakers better understand the environmental impact of economic activities and the effectiveness of climate policies
• Sovereign Debt Restructuring Process Is Improving Amid Cooperation and Reform
  • Published: June 26, 2024
  • Authors: Ceyla Pazarbasioglu
  • Summary: Agreements taking shape at a faster pace are reducing uncertainty for countries and investors.
• Mapping the World's Readiness for Artificial Intelligence Shows Prospects Diverge
  • Published: June 25, 2024
  • Authors: Giovanni Melina
  • Summary: New AI Preparedness Index Dashboard tracks 174 economies based on their digital infrastructure, human capital, labor policies, innovation, integration and regulation
• Central Bank Digital Currencies Can Boost Middle East's Financial Inclusion, Payment Efficiency
  • Published: June 18, 2024
  • Authors: Serpil Bouza, Marcello Miccoli, Borislava Mircheva
  • Summary: 19 countries in the Middle East and Central Asia are exploring issuing a CBDC
• Fiscal Policy Can Help Broaden the Gains of AI to Humanity
  • Published: June 17, 2024
  • Authors: Era Dabla-Norris, Ruud de Mooij
  • Summary: The AI transition will require stronger social safety nets, investment in education, and tax systems that support human workers and mitigate inequality
• Dollar Dominance in the International Reserve System: An Update
  • Published: June 11, 2024
  • Authors: Serkan Arslanalp, Barry Eichengreen, Chima Simpson-Bell
  • Summary: The US dollar continues to cede ground to nontraditional currencies in global foreign exchange reserves, but it remains the preeminent reserve currency
• Scars of Conflict Are Deeper and Longer Lasting in Middle East and Central Asia
  • Published: June 5, 2024
  • Authors: Colombe Ladreit, Borislava Mircheva, Troy Matheson
  • Summary: The negative economic effects of conflicts are larger and more persistent, partly reflecting a sharper impact of higher-intensity conflicts in these regions.
• As IMF Turns 80, Mounting Global Challenges Mean World Must Work Together
  • Published: June 4, 2024
  • Authors: Gita Bhatt
  • Summary: Our biggest challenges—from global warming to demographic and technological transformations—cannot be resolved by countries acting alone.
• Europe Can Reap Sizable Energy Security Rewards by Scaling Up Climate Action
  • Published: May 28, 2024
  • Authors: Geoffroy Dolphin, Romain Duval, Galen Sher, Hugo Rojas-Romagosa
  • Summary: Meeting the continent’s emission reduction targets could enhance energy security metrics by 8 percent by 2030—and that would be just the start
• More Diversified Trade Can Make Middle East and Central Asia More Resilient
  • Published: May 13, 2024
  • Authors: Jihad Azour
  • Summary: Reducing trade barriers, easing regulatory constraints, and upgrading infrastructure can mitigate challenges and help countries leverage new opportunities.
• Asia's Growth and Inflation Outlook Improves, but Risks Remain
  • Published: April 30, 2024
  • Authors: Krishna Srinivasan
  • Summary: The regional outlook has strengthened as price pressures have moderated, although China’s property market correction and geoeconomic fragmentation remain key risks.
• Sub-Saharan Africa's Growth Requires Quality Education for Growing Population
  • Published: April 25, 2024
  • Authors: Michele Fornino, Andrew Tiffin
  • Summary: Despite government budget strains, countries should prioritize investment in schools with the help of the international community
• Latin America's Shifting Demographics Could Undercut Growth
  • Published: April 23, 2024
  • Authors: Gustavo Adler, Rodrigo Valdés
  • Summary: As the region’s population ages, boosting labor force participation and productivity will be key to aid economic growth and raise living standards.
• Why Our World Needs Fiscal Restraint in Biggest-Ever Election Year
  • Published: April 17, 2024
  • Authors: Era Dabla-Norris, Vitor Gaspar, Marcos Poplawski-Ribeiro, Jiae Yoo
  • Summary: Governments should stay the course on fiscal consolidation amid mounting debt.
• Central Banks Must Remain Vigilant Along the Last Mile of Disinflation
  • Published: April 16, 2024
  • Authors: Tobias Adrian
  • Summary: The decline of inflation could be stalling in some economies
• Global Economy Remains Resilient Despite Uneven Growth, Challenges Ahead
  • Published: April 16, 2024
  • Authors: Pierre-Olivier Gourinchas
  • Summary: Policymakers should prioritize steps toward greater economic resilience such as strengthening government finances and revitalizing economic growth prospects.
• Industrial Policy is Back But the Bar to Get it Right Is High
  • Published: April 12, 2024
  • Authors: Anna Ilyina, Ceyla Pazarbasioglu, Michele Ruta
  • Summary: More data, analysis and dialogue are needed to avoid costly mistakes
• Industrial Policy Is Not a Magic Cure for Slow Growth
  • Published: April 10, 2024
  • Authors: Era Dabla-Norris, Daniel Garcia-Macia, Vitor Gaspar, Li Liu
  • Summary: It can be tempting for countries to turn to industrial policy, but a policy mix supporting innovation more broadly can help boost economic growth
• World Must Prioritize Productivity Reforms to Revive Medium-Term Growth
  • Published: April 10, 2024
  • Authors: Nan Li, Diaa Noureldin
  • Summary: Without ambitious steps to enhance productivity, global growth is set to fall far below its historical average
• Rising Cyber Threats Pose Serious Concerns for Financial Stability
  • Published: April 9, 2024
  • Authors: Fabio Natalucci, Mahvash S. Qureshi, Felix Suntheim
  • Summary: Greater digitalization and heightened geopolitical tensions imply that the risk of a cyberattack with systemic consequences has risen
• Emerging Markets Are Exercising Greater Global Sway
  • Published: April 9, 2024
  • Authors: Nicolas Fernandez-Arias, Alberto Musso, Carolina Osorio-Buitron, Adina Popescu
  • Summary: Policymakers must be ready to manage greater spillovers to the global economy as emerging markets’ influence grows
• Fast-Growing $2 Trillion Private Credit Market Warrants Closer Watch
  • Published: April 8, 2024
  • Authors: Charles Cohen, Caio Ferreira, Fabio Natalucci, Nobuyasu Sugimoto
  • Summary: Rapid growth of this opaque and highly interconnected segment of the financial system could heighten financial vulnerabilities given its limited oversight
• Housing is One Reason Not All Countries Feel Same Pinch of Higher Interest Rates
  • Published: April 8, 2024
  • Authors: Mehdi Benatiya Andaloussi, Nina Biljanovska, Alessia De Stefani, Rui C. Mano
  • Summary: Effects may be delayed in some countries: if interest rates remain higher for longer, homeowners will likely feel their effects as mortgage rates adjust
• Hidden Debt Hurts Economies. Better Disclosure Laws Can Help Ease the Pain.
  • Published: April 2, 2024
  • Authors: Alissa Ashcroft, Karla Vasquez, Rhoda Weeks-Brown
  • Summary: Domestic laws need updating to ensure that public obligations are transparent
• The Fiscal and Financial Risks of a High-Debt, Slow-Growth World
  • Published: March 28, 2024
  • Authors: Tobias Adrian, Vitor Gaspar, Pierre-Olivier Gourinchas
  • Summary: Higher long-term real interest rates, lower growth, and higher debt will put pressure on medium-term fiscal trends and financial stability
• Digital Money, Carefully Managed, Can Aid Pacific Island Growth and Equality
  • Published: March 25, 2024
  • Authors: Bo Li, Anca Paduraru, Yong Sarah Zhou
  • Summary: A cautious step-by-step approach would help the region explore new technologies effectively to deliver economic and social gains while managing risks
• Strengthen Central Bank Independence to Protect the World Economy
  • Published: March 21, 2024
  • Authors: Kristalina Georgieva
  • Summary: Independence is critical to winning the fight against inflation and achieving stable long-term economic growth, but policymakers risk facing pressure amid a wave of elections this year
• More Work is Needed to Make Big Banks Resolvable
  • Published: March 18, 2024
  • Authors: Tobias Adrian, Marc Dobler
  • Summary: Last year's turmoil showed that further progress is required in a number of areas to ensure banks aren’t too big to fail
• Red Sea Attacks Disrupt Global Trade
  • Published: March 7, 2024
  • Authors: Parisa Kamali, Robin Koepke, Alessandra Sozzi, Jasper Verschuur
  • Summary: In the first two months of 2024, Suez Canal trade dropped by 50 percent from a year earlier while trade through the Panama Canal fell by 32 percent, disrupting supply chains and distorting key macroeconomic indicators
• Beyond Efficiency: A More-human Economics
  • Published: March 4, 2024
  • Authors: Gita Bhatt
  • Summary: There is a growing consensus that the economics profession must be open to new ideas and frameworks if it hopes to solve the world’s biggest problems
• How the G20 Can Build on the World Economy’s Recent Resilience
  • Published: February 26, 2024
  • Authors: Kristalina Georgieva
  • Summary: The G20 has an important opportunity to shift focus from firefighting against successive shocks to a medium-term agenda that supports strong, sustainable, balanced, and inclusive growth.
• Emerging Markets Navigate Global Interest Rate Volatility
  • Published: January 31, 2024
  • Authors: Tobias Adrian, Fabio Natalucci, Jason Wu
  • Summary: Major emerging markets have shown resilience to global rate gyrations, but more challenging times could be ahead
• Global Economy Approaches Soft Landing, but Risks Remain
  • Published: January 30, 2024
  • Authors: Pierre-Olivier Gourinchas
  • Summary: Policy focus must shift to repairing public finances and improving medium-term growth prospects
• Explainer: How Asia Can Unlock $800 Billion of Climate Financing
  • Published: January 29, 2024
  • Authors: Ritu Basu, Cheng Hoon Lim
  • Summary: Governments, central banks, financial supervisors, and multilateral institutions must coordinate and develop a comprehensive strategy to attract more private capital.
• How Distrust of Government by Marginalized People Fuels Conflict in Africa
  • Published: January 25, 2024
  • Authors: Hany Abdel Latif, Mahmoud El Gamal
  • Summary: Improving people’s relationships with state institutions and ensuring access to services can foster conditions for greater peace and social cohesion in sub-Saharan Africa
• How to Ease Rising External Debt-Service Pressures in Low-Income Countries
  • Published: January 24, 2024
  • Authors: Allison Holland, Ceyla Pazarbasioglu
  • Summary: Debt servicing costs are increasing rapidly while annual refinancing needs have tripled to about $60 billion
• US Commercial Real Estate Remains a Risk Despite Investor Hopes for Soft Landing
  • Published: January 18, 2024
  • Authors: Andrea Deghi, Fabio Natalucci, Mahvash S. Qureshi
  • Summary: One of the steepest price declines in at least a half century heightens risks to investors and lenders
• AI Will Transform the Global Economy. Let’s Make Sure It Benefits Humanity.
  • Published: January 14, 2024
  • Authors: Kristalina Georgieva
  • Summary: AI will affect almost 40 percent of jobs around the world, replacing some and complementing others. We need a careful balance of policies to tap its potential
• Charts Spotlight Inflation, Economic Growth, Globalization, and Climate Change
  • Published: January 12, 2024
  • Authors: The Editors
  • Summary: A look back at the most popular charts on IMF Blog in 2023
• Housing Affordability Remains Stretched Amid Higher Interest Rate Environment
  • Published: January 11, 2024
  • Authors: Nassira Abbas, Corrado Macchiarelli
  • Summary: Prospective home buyers face high prices and elevated borrowing costs, while homeowners refrain from listing their properties
• How Training and Advice Can Speed Cross-Border Payments and Cut Costs
  • Published: January 3, 2024
  • Authors: Kieran Murphy
  • Summary: Cheaper cross-border payment services would benefit people and economies worldwide

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Source: https://www.imf.org/en/blogs/archive/2024