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Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now puts much of that progress at risk while further widening the gap between rich and poor.
Despite the […]
Emerging Markets and Developing Economies: Sustaining Growth in a Less Supportive External Environment
By Bertrand Gruss, Malhar Nabar, and Marcos Poplawski-Ribeiro
It is quite likely you are reading this on a smartphone or tablet assembled in an emerging market economy. The beverage beside you could well be tea grown in Sri Lanka or Kenya. And there is a chance that you are […]
In December 2016, the U.S. Fed raised interest rates for the first time in a year, and said they planned more increases in 2017. Emerging market currencies took a bit of a dive, but overall investors didn’t overreact and run for the doors with their money. For the bigger picture, you can read IMF Chief Economist Maurice Obstfeld’s[…]
By Deniz Igan
Michael Mussa, a former Chief Economist of the IMF, famously likened capital account liberalization to fire. In his comments at the IMF Economic Forum on October 2, 1998, he said: “Fire warms our homes, it cooks our food, our internal combustion engines,” and continued: “No doubt, fire is very useful, and we are not going to give […]
Version in Español (Spanish)
Forecasts of real GDP growth attract a lot of media attention. But what matters more to the person on the street is how growth translates into jobs. Unfortunately, the mediocre growth outlook of recent years may lead to a disturbing outlook for jobs, particularly among fuel-exporting countries and in the Latin America and Caribbean region.