The 2011 IMF-World Bank Annual Meetings are taking place in Washington DC as the global economy enters a dangerous new phase — financial markets jitters and risks to the recovery are giving everyone plenty to talk about. Here are our ‘must reads’ for the meetings.
- IMF members vowed collectively to do whatever it takes to tackle a “precarious situation” and restore both confidence and financial stability. Singapore Finance Minister Tharman Shanmugaratnam said “We face a confluence of sovereign debt and banking risks, with the epicenter of that being the euro area. But it is underpinned and complicated by the fact that we also face a weakening global economy, especially in the advanced economies, including the United States.”
- We kicked off the week with our latest assessments of the world economic outlook and global financial stability, as well as an updated look at the outlook for government debts and deficits.
- Managing Director Christine Lagarde set the scene for the meetings in a speech last week at the Woodrow Wilson Center, outlining the policies needed to achieve economic recovery and stability.
- The Managing Director underscored the need for policymakers to “act now and act together” at the Annual Meetings opening press conference and her speech to delegates.
- We also kicked off our program of seminars with a day-long event on how low-income countries manage volatile commodity prices and achieve inclusive growth. Hear more about the issue in this podcast.
- There will be a host of other events over the next several days, including a press conference on Saturday afternoon following the meeting of IMF ministers and governors, the annual Per Jacobsson lecture on Sunday, and a conference on Monday about on-the-ground training as countries struggle to deal with the crisis.
- In a recent interview, Reza Moghadam—head of the IMF’s Strategy, Policy and Review Department—previewed some of the main issues up for discussion. Watch this video to hear more about what he has to say.