The Wealth of Nations: Governments Can Better Manage What They Own and Owe

By Vitor Gaspar, Jason Harris, and Alexander Tieman

October 10, 2018

عربي,中文, Español, FrançaisBaˈhasa indoneˈsia, 日本語PortuguêsРусский

A firefighter in Auckland, New Zealand: when governments know what they own they can put their assets to better use and can earn about 3 percent of GDP more in revenues to spend on citizens’ well being (Photo: Rafael Ben-Ari/Newscom)

What is the state of your personal finances? You probably think first about your debts: your mortgage, your credit card balance, and your student loans. But you probably also think about how much cash is sitting in the bank, the value of your house, and the rest of your nest egg.

Surprisingly, most governments do not approach their finances this way. Continue reading “The Wealth of Nations: Governments Can Better Manage What They Own and Owe” »

Give Today’s Children a Chance

By  Christine Lagarde and Vitor Gaspar

September 24, 2018

عربي, 中文, Español, Français, Baˈhasa indoneˈsia, 日本語PortuguêsРусский

Children in early childhood education in Indonesia: more money put into education helps countries achieve their Sustainable Development Goals (Photo: Ajun-Ally/Pacific Press/Newscom)

World leaders are gathering at the United Nations to discuss how to deliver on development for all that is economically, socially, and environmentally sustainable—“The 2030 Agenda for Sustainable Development,” and its 17 Sustainable Development Goals (SDGs). Continue reading “Give Today’s Children a Chance” »

Chart of the Week: Educate Girls and Women to Boost Equality

By IMFBlog

August 22, 2018

Versions in عربي,  中文Español,, Français,  日本語, Português

Schoolgirls in Valladolid, Mexico: Policies that focus on educating girls increase the likelihood that they will enter the labor force (photo: kertu_ee/iStock by Getty Images)

Government policies have boosted women’s participation in the work force. But women still make up a smaller percentage of the labor force than men in most countries. Of the many policies available, such as education and legal rights, which ones provide the most “bang for the buck” to reduce inequality between men and women? Continue reading “Chart of the Week: Educate Girls and Women to Boost Equality” »

Chart of the Week: Malaysia Needs More Women in the Workforce

By IMFBlog

April 2, 2018

Version in baˈhasa indoneˈsia (Indonesian)

Four students walk past a bank in Kuala Lumpur, Malaysia: Policies like improving the quality of education can help the country increase the number of women in the workforce (photo: John Mulligan/iStock by Getty Images).

Malaysia, a country well on its way to achieving high income status, can increase the number of women in the labor force by implementing key labor market reforms. And the country should, because our research shows that more women in the workforce benefits the economy.  Continue reading “Chart of the Week: Malaysia Needs More Women in the Workforce” »

Managing Debt Vulnerabilities in Low-Income and Developing Countries

By Tao Zhang

March 22, 2018

Versions in Português (Portuguese)  

Congested streets in Dhaka, Bangladesh. In a third of low-income countries, including Bangladesh, government deficits finance investment in much needed infrastructure (photo: Motoya Taguchi/Jiji Press/Newscom).

Government debt in some of the world’s poorest countries is rising to risky levels, a new IMF report shows. The report looks at economic developments and prospects among the world’s low-income countries, which account for a fifth of the world’s population but only four percent of global output. Continue reading “Managing Debt Vulnerabilities in Low-Income and Developing Countries” »

Adapting to Climate Change—Three Success Stories

By Evgenia Pugacheva and Mico Mrkaic

March 20, 2018

When governments subsidize private investment in adaptation, the economic costs of extreme weather events can be reduced (photo: Leolintang/iStock by Getty Images).

Climate change is one of the greatest threats facing our planet. Its negative effects on health, the biosphere, and labor productivity are already being felt throughout the world. Aware of the danger, communities, households, and governments have started taking measures to reduce their exposures and vulnerability to weather shocks and climate change. Our study in the World Economic Outlook shows that public investment in adaptation can partially reduce the economic costs of severe weather events.   Continue reading “Adapting to Climate Change—Three Success Stories” »

Welfare Versus GDP: What Makes People Better Off

By Geoffrey Bannister and Alexandros Mourmouras

March 7, 2018

Oslo, Norway. In rich countries like Norway, that have greater life expectancy, more leisure, and lower inequality, measured well-being is higher than income (photo: iStock by Getty Images).

For years, economists have worked to develop a way of measuring general well-being and comparing it across countries. The main metric has been differences in income or gross domestic product per person. But economists have long known that GDP is an imperfect measure of well-being, counting just the value of goods and services bought and sold in markets.

The challenge is to account for non-market factors such as the value of leisure, health, and home production, such as cleaning, cooking and childcare, as well as the negative byproducts of economic activity, such as pollution and inequality. Continue reading “Welfare Versus GDP: What Makes People Better Off” »

The Struggle to Manage Debt

By Christoph Rosenberg

March 1, 2018

Good economic times offer an opportunity to tackle budget deficits

The global economy has a spring in its step. Growth is picking up, and we at the IMF have been ratcheting up our forecasts. Government coffers are filling and, with more people at work, demand for public social support is receding. The fiscal woes of the past decade seem behind us.

But this sunny perspective ignores debt levels that remain close to historic highs and the inevitable end of the cyclical upswing. Estimates of underlying growth potential have hardly budged, and interest rates—the cost of servicing all this debt—are starting to rise, which will eventually make it harder to refinance bonds and loans. Continue reading “The Struggle to Manage Debt” »

Chart of the Week: Inequality, Your Health, and Fiscal Policy

By Mercedes García-EscribanoBaoping Shang, and Emmanouil (Manos) Kitsios

February 5, 2018 

 Catania Sicily, Italy.  Men with a lower level of education live shorter lives, on average, than their better educated fellow citizens (photo: Jann Huizenga/Getty Images/IStock).

The gap in life expectancy between rich and poor people is a worldwide phenomenon, and has grown dramatically in recent years in some countries. 

In our Chart of the Week, we show how this longevity gap, which reflects inequality in access to health care and its impact on peoples’ overall health, varies across countries. Men with a lower level of education live shorter lives, on average, than their better educated fellow citizens: this gap ranges from four years in Italy, to 14 years in Hungary, according to the October 2017 Fiscal Monitor. Continue reading “Chart of the Week: Inequality, Your Health, and Fiscal Policy” »

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