## IMF World Economic Outlook (WEO) - Sustaining the Recovery, October 2009

_World Economic Outlook, October 1, 2009_

## Source details

**Canonical URL:** [IMF World Economic Outlook (WEO) - Sustaining the Recovery, October 2009](https://www.imf.org/en/publications/weo/issues/2016/12/31/sustaining-the-recovery)

## Other formats

- [Markdown version](/en/publications/weo/issues/2016/12/31/sustaining-the-recovery/index.md)
- [Structured JSON version](/en/publications/weo/issues/2016/12/31/sustaining-the-recovery/index.json)
- [Bundle manifest](/en/publications/weo/issues/2016/12/31/sustaining-the-recovery/bundle-manifest.json)

## Bibliographic details
- Published: October 1, 2009
- Series: World Economic Outlook

---

### Global outlook and key findings
- After a deep recession, global economic growth has turned positive, driven by wide-ranging, coordinated public intervention that has supported demand and reduced uncertainty and systemic risk in financial markets.
- The Global Recession Is Ending.
- Deleveraging and Slow Job Growth Ahead.
- Improving, but Still Difficult, Financial Conditions.
- Sluggish Real Sector Dynamics.
- Continued, but Diminishing, Support from Policy.
- A Subdued Recovery and Vulnerability to Mild Deflation.
- Beyond 2010: How Will the Global Economy Rebalance?
- Risks to a Sustained Recovery.
- Policy Challenges: Reconciling Short- and Medium-Term Objectives.

### Regional perspectives and country outlooks
- The U.S. Economy is Stabilizing as the Crisis Subsides.
- Asia: From Rebound to Recovery?
- Europe: A Sluggish Recovery Lies Ahead.
- Commonwealth of Independent States: A Difficult Recovery for Some and Damage Containment for Others.
- Other Advanced Economies: On the Path to Recovery.
- Latin America and the Caribbean: Policy Frameworks Have Promoted Resilience.
- Middle East: Strengthening Growth Prospects.
- Africa: Regaining Momentum.

### Analytical chapters — themes and conclusions
- Chapter 3: Lessons for Monetary Policy from Asset Price Fluctuations
  - Asset Price Busts in the Modern Era.
  - Macroeconomic Patterns ahead of the Current Crisis.
  - The Role of Monetary Policy.
  - Should Policymakers React to Asset Market Fluctuations?
  - Policy Conclusions.
- Chapter 4: What's the Damage? Medium-Term Output Dynamics after Financial Crises
  - Does Output Recover over the Medium Term?
  - Decompositions: Why Does Aggregate Output Fail to Recover after a Banking Crisis?
  - What Factors Are Associated with Medium-Term Output Losses?
  - Implications for the Outlook after the Current Financial Crisis.

### Policy implications and priorities highlighted
- Maintain policies that support demand while managing fiscal sustainability as emergency measures diminish.
- Address deleveraging and labor market weaknesses to prevent a jobless or sluggish recovery.
- Manage financial-sector repair to improve credit conditions and reduce systemic risk.
- Monitor deflationary pressures and commodity price dynamics to guard against mild deflation.
- Rebalance global demand patterns beyond 2010 to reduce global imbalances and support sustained growth.
- Consider monetary policy frameworks that account for asset-price fluctuations and their macroeconomic implications.
- Learn from historical postcrisis output dynamics to design policies that mitigate medium-term output losses.

### Supporting materials and analytical tools referenced
- World Economic Outlook Database and statistical appendices providing detailed country and group projections.
- Boxes and figures examining topics such as trade finance, resilience of emerging-market financial markets, jobless recoveries, real estate risks, commodity price prospects, and historical perspectives on financial crises.
- Tables and figures covering Output, Inflation, Financial Policies, Foreign Trade, Current Account Transactions, Balance of Payments and External Financing, Flow of Funds, and Medium–Term Baseline Scenarios.

*IMF World Economic Outlook (WEO) - Sustaining the Recovery, October 2009*

---

## Content in this bundle

- [Box1 1 1 (CSV)](/external/pubs/ft/weo/2009/02/c1/box1_1_1.csv){rel="external" type="text/csv"}
- [Box1 1 2 (CSV)](/external/pubs/ft/weo/2009/02/c1/box1_1_2.csv){rel="external" type="text/csv"}
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- [Fig1 1 (CSV)](/external/pubs/ft/weo/2009/02/c1/fig1_1.csv){rel="external" type="text/csv"}
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---

## References

- [World Economic Outlook Database](http://www.imf.org/external/pubs/ft/weo/2009/02/weodata/index.aspx)
- [Transcript](http://www.imf.org/external/np/tr/2009/tr100109.htm)
- [Transcript](http://www.imf.org/external/np/tr/2009/tr092209.htm)
- [Olivier Blanchard, IMF Economic Counsellor](http://www.imf.org/external/mmedia/view.asp?eventID=1628)
- [Archive of WEO Reports](http://www.imf.org/external/ns/cs.aspx?id=29)
- [IMF Data Mapper®](http://www.imf.org/external/datamapper/index.php)
- [Research at the IMF](http://www.imf.org/external/pubs/res/index.htm)
- [discussion forum](http://www.imf.org/external/pubs/ft/weo/forum/index.htm)
- [Ordering Information](http://www.imf.org/external/pubs/cat/longres.cfm?sk=22576.0)
- [Disclaimer](http://www.imf.org/external/terms.htm)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/publications/weo/issues/2016/12/31/sustaining-the-recovery_