Mapping Income Polarization in the United States

By Ali Alichi and Rodrigo Mariscal

May 15, 2018

Version in Español

Investment in education an important countervailing force in addressing income inequality (photo: Istock by Getty Images).

When it comes to income inequality among American households, outcomes have varied widely across the 50 U.S. states.  The impact of international competition gets a lot of the blame, along with automation, in states that have fared the worst. Continue reading “Mapping Income Polarization in the United States” »

Trust and the Future of Multilateralism

By David Lipton

May 10, 2018
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Where trust exists and is reciprocated—where there is “confidence” in policies, institutions and systems—economies will achieve more (photo: iStock by Getty Images).

We live in an era of doubts and questions about the global order.  We have seen an erosion of trust in bedrock institutions—political parties, national governments, regional authorities, and among international trade and investment partners. Continue reading “Trust and the Future of Multilateralism” »

Mounting Debt Threatens Sustainable Development Goals

By Chris Lane and Elliott Harris

April 27, 2018

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A market in Port-au-Prince, Haiti: some developing countries are falling behind when it comes to incomes (photo: Dumont Bildarchiv/Newscom).

In 2015, 193 countries adopted the 17 Sustainable Development Goals (SDGs) as an overarching policy roadmap through 2030. These goals are predicated on the idea that for a sustainable future, economic growth must go hand-in-hand with social inclusion and protection of the environment.

Our respective institutions, the United Nations Department of Economic and Social Affairs (UNDESA) and the International Monetary Fund (IMF), fully support these goals. From the UN perspective, they represent a down payment on a more peaceful, prosperous, and cooperative world, especially in increasingly perilous times. For the IMF, they help underpin economic stability and sustainable and inclusive economic growth. Continue reading “Mounting Debt Threatens Sustainable Development Goals” »

Shining a Bright Light into the Dark Corners of Weak Governance and Corruption

By Christine Lagarde

April 22, 2018

Versions in عربي (Arabic), 中文 (Chinese), Español (Spanish), Français (French), baˈhasa indoneˈsia (Indonesian),  日本語 (Japanese), Português (Portuguese),  Русский (Russian)

Anti-corruption strategies require broader regulatory and institutional reforms (photo: Kritchanut/iStock).

The IMF Executive Board has just endorsed a new framework for stepping up engagement on governance and corruption in our member countries. Let me talk about why this is important and what it means for our work.

Continue reading “Shining a Bright Light into the Dark Corners of Weak Governance and Corruption” »

Globalization Helps Spread Knowledge and Technology Across Borders

By Aqib Aslam, Johannes Eugster, Giang Ho, Florence Jaumotte, Carolina Osorio-Buitron, and Roberto Piazza

April 9, 2018

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Using artificial intelligence at a hospital in Qingdao, China: the spread of knowledge and technology between countries has intensified (photo: Sipa Asia/Sipa USA/Newscom).

It took 1,000 years for the invention of paper to spread from China to Europe. Nowadays, in a world that has become more integrated, innovations spread faster and through many channels.

Our research in Chapter 4 of the April 2018 World Economic Outlook takes a closer look at how technology travels between countries. We find that the spread of knowledge and technology across borders has intensified because of globalization. In emerging markets, the transfer of technology has helped to boost innovation and productivity even in the recent period of weak global productivity growth. Continue reading “Globalization Helps Spread Knowledge and Technology Across Borders” »

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” »

Policy Actions to Sustain Growth and Guard Against Risks

By Christine Lagarde

March 15, 2018

Versions in عربي (Arabic),  中文 (Chinese), Español (Spanish), Français (French),  日本語 (Japanese), Português (Portuguese)  Русский (Russian)

Even though the sun still shines on the global economy, there are more clouds on the horizon (iStock by GettyImages).

When the Group of Twenty finance ministers and central bank governors met last October, there was a sense of optimism about the global economic upswing and the opportunities for much-needed reforms.

When they meet again in Buenos Aires next week, their focus will be on the policies needed to protect this upswing against downside risks and bolster growth going forward.

The good news is that the growth momentum has continued to strengthen, involving three- quarters of the world economy.

Continue reading “Policy Actions to Sustain Growth and Guard Against Risks” »

Beware of Strike-it-Rich Euphoria: the Curse of Potential Oil Wealth

By IMFBlog

March 9, 2018

(photo: Nielubieklonu/iStock).

The resource curse, or paradox of plenty, is when countries with an abundance of natural resources suffer stagnant economic growth or even contraction.

In this podcast, World Bank economist James Cust, says the problem of eradicating extreme poverty is going to be about how resource-rich countries manage their resource wealth. Continue reading “Beware of Strike-it-Rich Euphoria: the Curse of Potential Oil Wealth” »

Ending Harassment Helps #TheEconomyToo

By Christine Lagarde, Corinne Deléchat, and Monique Newiak

March 5, 2018

Versions in عربي (Arabic),  中文 (Chinese), Español (Spanish), Français (French), 日本語 (Japanese), Português (Portuguese)

Women who live in countries with stronger protection against harassment, including at work, are more likely to open a bank account, borrow and save, and use financial services such as mobile payments (iStock by Getty Images).

This International Women’s Day is bringing new calls to #pressforprogress on gender parity. Giving women and girls the opportunity to succeed is not only the right thing to do—it can also transform societies and economies.

Unlocking this transformative potential means pushing for more equal opportunities: for example, equality in legal rights for men and women, and equality in access to education, health, and finance. Just as important is the fundamental issue of ensuring a safe environment for all, including protection against harassment. Continue reading “Ending Harassment Helps #TheEconomyToo” »

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” »

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