How the Commodity Boom Helped Tackle Poverty and Inequality in Latin America

By Ravi Balakrishnan and Frederik Toscani

June 21, 2018 

Versions in Español, Português

People buying produce in a busy market in Bahia, Brazil. During the commodity boom, Brazil saw significant reductions in poverty and inequality (photo: golero/iStock by Getty Images)

Latin America may be the most unequal region in the world, but it is the only region to significantly lower inequality over the past two decades, and the boom in commodity prices helped make it happen.  Continue reading “How the Commodity Boom Helped Tackle Poverty and Inequality in Latin America” »

Chart of the Week: Greenery and Prosperity

By João Tovar Jalles and Prakash Loungani

May 21, 2018

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

Brandenburg, Germany: in three advanced economies—Germany, the United Kingdom, and France—emissions have fallen despite the increase in incomes (photo: Caro / Kaiser/Newscom).

Economic growth has traditionally moved in tandem with pollution. But can countries break this link and manage to grow while lowering pollution?

Continue reading “Chart of the Week: Greenery and Prosperity” »

Technology and the Future of Work

By Adrian Peralta, and Agustin Roitman

May 1, 2018 

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

Technology impacts how we work (photo: BSIP/Newscom).

Many feel anxious about the impact of new technology on their jobs. This is not new. In fact, it dates back at least to the Luddites movement at the outset of the Industrial Revolution. And it resurfaced during the Great Depression and again in the 1960s, following a period of high productivity growth, and in the 1980s at the outset of the IT revolution.

How can governments help? By investing in peoples’ skills. Continue reading “Technology and the Future of Work” »

Mounting Debt Threatens Sustainable Development Goals

By Chris Lane and Elliott Harris

April 27, 2018

Versions in baˈhasa indoneˈsia(Indonesian), Español (Spanish), Français (French), Português (Portuguese)

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” »

Bringing Down High Debt

By Vitor Gaspar and Laura Jaramillo

April 18, 2018

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

High debt makes governments’ financing vulnerable to sudden changes in market sentiment (photo: NYSE-LUCAS JACKSON-REUTERS Newscom).

Global debt hit a new record high of $164 trillion in 2016, the equivalent of 225 percent of global GDP. Both private and public debt have surged over the past decade. High debt makes government’s financing vulnerable to sudden changes in market sentiment. It also limits a government’s ability to provide support to the economy in the event of a downturn or a financial crisis.

Countries should use the window of opportunity afforded by the economic upswing to strengthen the state of their fiscal affairs. The April 2018 Fiscal Monitor explores how countries can reduce government deficits and debt in a growth-friendly way.

Continue reading “Bringing Down High Debt” »

Fiscal Rules: Make them Easy to Love and Hard to Cheat

By Xavier Debrun, Luc Eyraud, Andrew Hodge, Victor Lledo, Catherine Pattillo, Abdelhak Senhadji

April 13, 2018

Versions in Español (Spanish), Français (French),  Português  (Portuguese)

The national debt clock in New York City: a fiscal rule, like the debt ceiling, should not be set too low or too high. (photo: Frances M. Roberts/Newscom)

Rules to contain lavish government deficits are most effective if countries design them to be simple, flexible, and enforceable in the face of changing economic circumstances.

In new analysis, we look at fiscal rules in over 90 countries and, based on their experiences, find that the rules put in the place over the last three decades often were too complex, overly rigid, and difficult to enforce. Continue reading “Fiscal Rules: Make them Easy to Love and Hard to Cheat” »

The Digital Gamble: New Technology Transforms Fiscal Policy

By Vitor Gaspar and Geneviève Verdier

April 12, 2018

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

Traffic in Singapore: the city uses digital technology for road pricing to manage road congestion congestion (photo: Kua Chee Siong/ SPH/Newscom)..

In Rwanda, digitally-monitored drones deliver blood supplies to hospitals. In Estonia, it takes five minutes to file taxes and 99 percent of government services are available online. Singapore was the first city to implement electronic road pricing to manage congestion. The world is becoming digital, and reliable, timely, and accurate information is available at the push of a button. Governments are following suit, using digital tools for tax and expenditure policy, public financial management, and public service delivery.  Continue reading “The Digital Gamble: New Technology Transforms Fiscal Policy” »

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” »

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