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Karen Ongley is an Advisor in the IMF’s African Department and is currently Mission Chief for Sierra Leone. Since joining the IMF in 1998, Karen has worked on a range of low- and middle-income economies including Afghanistan, Albania, Egypt, Jordan, Nigeria, Yemen, and West Bank & Gaza. She has also worked extensively on IMF lending policies and other policy issues. Prior to joining the IMF, Karen worked on tax policy and international economy issues at the Australian Treasury, and as a policy advisor to a Cabinet Minister. She has degrees from the University of Sydney and Newcastle University.
October 3, 2017
With inequality rising in many countries, policymakers need to choose the best fiscal policies that will help share the benefits of economic growth, and in so doing, make it more inclusive.
The early 20th century English economist Arthur Pigou, among others, saw economic welfare as influenced by both “the size of the national dividend” and “the way in which it is distributed among the members of the community.” (more…)
May 18, 2017
Corruption—the abuse of public office for private gain—is a many-headed monster. It is pervasive in many countries, but only a fraction of cases make headlines; fewer are successfully prosecuted. Yet the cumulative burden is massive. By some estimates, bribery alone amounts to $1 trillion each year, and corruption more broadly to much more. While the precise figures are the subject of debate, the importance of the problem is not. (more…)
Nadeem Ilahi is Mission Chief for Bosnia-Herzegovina and a Deputy Chief in in the IMF’s European Department, covering Hungary and Croatia. Previously, he served as Mission Chief for Albania and Montenegro. His research and analytical work has focused on the nature and implications of international spillovers and the macroeconomic role of oil funds. Prior to joining the IMF in 2000, Mr. Ilahi held faculty positions at McGill University in Canada and Lahore University of Management Sciences in Pakistan. He holds BA and PhD degrees from the University of California.
Central, Eastern, and South-Eastern Europe: Safeguarding the Recovery as the Global Liquidity Tide Recedes
(Version in Türk)
Growth is gathering momentum in most of Central, Eastern, and South-Eastern Europe (CESEE) in the wake of the recovery in the euro area. Excluding the largest economies—Russia and Turkey—the IMF’s latest Regional Economic Issues report projects the region to grow 2.3 percent in 2014, almost twice last year’s pace. This is certainly good news.
By Ajai Chopra
Almost unnoticed, amid the difficulties in western Europe, the other half of the continent has begun to recover from the deepest slump in its post-transition period. The emerging economies in central and eastern Europe will grow by 3¾ percent this year and next—a relief after the 6 percent decline in 2009.
Why was the crisis so severe—and how do we avoid a repeat? We consider just that question in our fall 2010 Regional Economic Outlook: Europe. While the crisis was triggered by external shocks, it is clear that domestic imbalances and policies also played a key role. (more…)
By Sean Hagan and Jody Myers
The international community has made the fight against money laundering and terrorist financing a priority. The IMF is especially concerned about the possible consequences of money laundering and the financing of terrorism on our members’ economies and on international financial stability.
The IMF’s Legal Department has the lead on the Fund’s work in combating money laundering and the financing of terrorism, and our work includes assessments of countries’ compliance with the international standard on anti-money laundering and combating the financing of terrorism (AML/CFT), technical assistance, research, and policy development.
Building on the results of our recent work on the risks from money laundering and the macroeconomic impacts of money laundering and predicate crime, we are seeking to integrate AML/CFT more fully into the Fund’s surveillance and Financial Sector Assessment Programs (FSAPs).