International Monetary Fund Annual Report 2019: Our Connected World

Annual Report of the Executive Board, October 4, 2019

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The global economy is at a delicate moment.
The expansion of early 2018 has lost momentum, in large part in response to rising trade tensions.
There are threats from rising financial vulnerabilities and geopolitical uncertainties.
Management has deepened analysis on trade spillovers and financial stability.
Frameworks are being revamped for debt sustainability assessment in low-income and market access countries.
The October 2018 World Economic Outlook provided illustrative scenarios of the potential impact of escalating trade tensions between the United States and China.
Several major reviews were undertaken looking at:
- IMF conditionality
- Economic and financial surveillance
- Lending facilities

Policymakers should avoid missteps and take the right policy steps:
- at home,
- across borders,
- and globally.
Emphasize cross-border policy coordination to address trade spillovers and financial stability risks.
Strengthen frameworks for debt sustainability assessment in low-income and market access countries to better identify vulnerabilities.

Subjects: Budget planning and preparation; Credit; External audit; Financial sector policy and analysis; Financial sector stability; Labor; Money; Poverty; Poverty reduction strategy; Public financial management (PFM)
Keywords: AR, AREA, Asia and Pacific, Budget planning and preparation, capacity development, Central Asia, country, Credit, External audit, Financial sector stability, Global, IMF finance department, IMF headquarters, IMF policy advice, IMF staff calculation, IMF-World Bank Bali Fintech Agenda, Middle East and Central Asia, Poverty reduction strategy, SDR, Sub-Saharan Africa, trade