Statement by the Managing Director to the International Monetary and Financial Committee on the Global Economy and Financial Markets PDF Download
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Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498338976
Category : Business & Economics
Languages : en
Pages : 5
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Book Description
The recovery is solidifying. However, old policy challenges still need to be fully addressed and new challenges are arising, especially on account of rising commodities prices. In many advanced economies the handoff from public to private demand is proceeding. But unemployment remains high and weak public balance sheets and still vulnerable financial sectors mean that the recovery is subject to downside risks. In many emerging market economies, overheating and financial imbalances present growing policy concerns. Monetary policy should stay accommodative in advanced economies, but needs further tightening in a number of emerging and developing economies to rein in inflationary pressure and rapid credit growth. Additionally, in emerging surplus economies, real exchange rate appreciation is needed to help contain inflation and support global demand rebalancing. In most economies, the time has come to begin fiscal adjustment by implementing measures to steadily reduce debt ratios toward more prudent levels. Moreover, financial sector repair and reform need to accelerate. Absent major progress on all these fronts, the recovery will remain vulnerable and job creation will continue to fall short of requirements in many parts of the world.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498338976
Category : Business & Economics
Languages : en
Pages : 5
Get Book Here
Book Description
The recovery is solidifying. However, old policy challenges still need to be fully addressed and new challenges are arising, especially on account of rising commodities prices. In many advanced economies the handoff from public to private demand is proceeding. But unemployment remains high and weak public balance sheets and still vulnerable financial sectors mean that the recovery is subject to downside risks. In many emerging market economies, overheating and financial imbalances present growing policy concerns. Monetary policy should stay accommodative in advanced economies, but needs further tightening in a number of emerging and developing economies to rein in inflationary pressure and rapid credit growth. Additionally, in emerging surplus economies, real exchange rate appreciation is needed to help contain inflation and support global demand rebalancing. In most economies, the time has come to begin fiscal adjustment by implementing measures to steadily reduce debt ratios toward more prudent levels. Moreover, financial sector repair and reform need to accelerate. Absent major progress on all these fronts, the recovery will remain vulnerable and job creation will continue to fall short of requirements in many parts of the world.
Author: Internationaler Währungsfonds
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The recovery remains fragile and uneven. In many advanced economies, activity is still sluggish and unemployment high, while legacy problems in the financial system remain unresolved. Activity is more robust in many emerging and developing economies. However, their prospects also depend on a healthy, broad-based recovery among the advanced economies, owing to deep real and financial linkages. The key policy challenge is to effect a smooth transition from public- to private-sector-led growth in many advanced economies, and from external to domestically driven growth in key emerging economies. While short-term macroeconomic policies are broadly appropriate, completing the two rebalancing acts will require tackling the medium-term fiscal, financial, and structural challenges raised by the crisis. Without such reforms, growth could sputter, with grave economic and social consequences.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344674
Category : Business & Economics
Languages : en
Pages : 9
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Book Description
2015 is a pivotal year—a year when the international community will commit to a shared vision on goals for international development through 2030 and beyond. Achieving these Sustainable Development Goals (SDGs) will require a partnership among advanced, emerging, and developing economies, and international institutions to ensure that the required policies are put in place and that sufficient private and public resources are mobilized. The Fund, with its global membership and mandate at both the national and multilateral levels, is uniquely positioned to contribute to this compact and help implement it. As new deliverables, the IMF is considering: 1. Boosting the access to IMF resources provided to developing countries, better positioning them to handle balance of payments needs as they pursue growth; 2. Expanding diagnostic and capacity-building support for countries seeking to scale up investment to tackle infrastructure gaps; 3. Sharpening the focus of operational work on equity, inclusion, and gender, drawing on ongoing analysis and work of other institutions; 4. Increasing the focus on and resourcing of work on fragile/conflict-affected states; 5. Selective expansion of capacity-building efforts in the areas Full text is also available in French and Spanish.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498338992
Category : Business & Economics
Languages : en
Pages : 4
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Book Description
Since the IMFC last met, the global economic recovery has gathered strength and financial conditions have kept improving; but members continue to face multiple and diverse challenges—slow growth, high unemployment, and fiscal and financial vulnerabilities in many advanced economies; and rapid credit growth and overheating pressures in some emerging markets. Rising food and energy prices have returned, further constraining policies. Meanwhile, global imbalances show no sign of abating, and volatility in cross border financial flows and exchange rates remains high. The outlook has been further challenged recently by unpredictable shocks: the tragic events in Japan and developments across the Middle East and North Africa. The latter also contain an important lesson for policy makers, namely that the quality of growth—especially its ability to combat unacceptably high unemployment and inequality—is critical to the sustainability of growth.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498326625
Category : Business & Economics
Languages : en
Pages : 6
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Book Description
This Work Program translates the strategic directions and policy priorities laid out in the Spring 2019 Global Policy Agenda and the International Monetary and Financial Committee Communiqué into an Executive Board agenda for the next twelve months. Its main policy priorities and related deliverables are as follows: • Support domestic policies to enhance resilience and inclusion: • Upgrade global cooperation to level the playing field and address other shared challenges • Adapt the Fund’s toolkits to lead and support change: • Continue to modernize the Fund to deliver for the future:
Author: Internationaler Währungsfonds
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Although the global recovery continues to move ahead, it remains fragile and uneven, with continued high unemployment. Many countries are emerging from the crisis with high debt burdens, low growth, and still fragile financial sectors. At the same time, economic activity in many emerging market countries has picked up, attracting large capital inflows that challenge economic policy. Important steps have been taken to make financial sectors safer around the world, but the unfinished agenda is still substantial, particularly for cross-border finance and macro-prudential regulation. All this suggests serious vulnerabilities and challenges remain, requiring continued policy cooperation and collaboration.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 5
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Book Description
Several simultaneous shocks are weighing on the global economic outlook and complicate policymaking. Inflationary pressures are on the rise and increasingly broad based. Russia’s war in Ukraine continues to send shockwaves through the global economy, including by disrupting commodity markets and contributing to higher sovereign risk spreads. Lower growth in China as a result of lockdowns and a weaker housing market curtails global demand, while climate change is generating increasingly costly extreme weather events. The combination of lower growth and high prices squeezes household budgets, especially in low-income developing countries (LIDCs) where hard-to-replace spending items, such as food, account for a large share of consumption. Central banks face difficult policy trade-offs, as both over- and under-tightening the monetary stance would come with significant costs. Emerging and Developing Economies (EMDEs) need to cope with less favorable financial conditions and weaker currencies that raise the domestic currency value of foreign debt—a constellation that contains potential for wider debt distress. Policymakers should focus on gaining control over inflation, preserving financial stability, and using focused and well-targeted fiscal interventions to support those most in need. Global cooperation is more important than ever, but it is also under acute threat from geopolitical developments.
Author: Internationaler Währungsfonds
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This Work Program puts forward an IMF Board agenda focused on activities of critical importance to our members. In line with the strategic directions laid out in the Fall 2021 Global Policy Agenda and the International Monetary and Financial Committee (IMFC) Communique, the Work Program supports three policy priorities: (i) vaccinate the world to combat the pandemic everywhere; (ii) calibrate bilateral and multilateral policies to support the recovery and reduce scarring and divergences; and (iii) accelerate the transformation of the global economy to make it greener, more digital, and inclusive. To deliver on this agenda, it is also important to ensure that the Fund remains appropriately equipped to maintain its role at the center of the global financial safety net.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 3
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Book Description
The Work Program aims to help the membership tackle multiple and complex challenges—most prominently high inflation, along with elevated debt levels, energy and food security, and risks of fragmentation. In addition to discussing policy advice, financial assistance, and capacity development to provide critical support to the countries affected by these compounding crises, the Board will continue to monitor closely the economic and financial developments, new challenges and risks, and discuss policy responses. Work will also focus on implementing the strategies to support a more resilient, inclusive, digital, and green global economy.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1513549782
Category : Business & Economics
Languages : en
Pages : 4
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Book Description
The COVID 19 crisis continues to take a heavy human and economic toll. The outlook remains highly uncertain as many countries are facing the economic fallout of the pandemic. This has led to an unprecedented surge in demand for Fund support and a strain on staff resources. Against this backdrop, and in line with the strategic priorities laid out in the Spring 2020 Global Policy Agenda and the International Monetary and Financial Committee Communiqué, this crisis focused Work Program (WP) lays out essential work during May to October aimed at helping countries to mitigate the crisis, restore stability, and prepare for a strong and sustainable recovery. The WP implies a large increase in Board items compared with last year, reflecting mostly informal and more frequent updates on how this rapidly evolving crisis affects economic and financial developments and relevant policies. Other work streams are delayed; they are outlined in the WP and will be included in the Board agenda once there is more clarity on how the evolution of the pandemic will impact crisis related work.
