Fintech—A Brave New World for the Financial Sector?

March 21st, 2017|

Lagarde.2015MDPORTRAIT4_114x128By Christine Lagarde

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

From smartphones to cloud computing, technology is rapidly changing virtually every facet of society, including communications, business and government. The financial world is no exception.

As a result, the financial world stands at a critical juncture. Yes, the widespread adoption of new technologies, such as blockchain-based systems, offers many potential benefits. But it also gives rise to new risks, including risks to financial stability. That causes challenges for financial regulators, a subject I addressed at the 2017 World Government Summit in Dubai.

(more…)

Chart of the Week: Inequality and the Decline in Labor Share of Income

March 20th, 2017|

By IMFBlog

As discussed in the IMF’s G20 Note, and a blog last week by IMF Managing Director Christine Lagarde, a forthcoming chapter of the World Economic Outlook seeks to understand the decline in the labor share of income (that is, the share of national income paid in wages, including benefits, to workers) in many countries around the world. These downward trends can have potentially large and complex social implications, including a rise in income inequality.  (more…)

OPEC’s Rebalancing Act

March 15th, 2017|

By Rabah Arezki and Akito Matsumoto

Versions in عربي (Arabic), Français (French), Русский (Russian), and Español (Spanish)

In November 2014, the Organization of Petroleum Exporting Countries (OPEC) decided to maintain output despite a perceived global glut of oil. The result was a steep decline in price.

Two years later, on November 30, 2016, the organization took a different tack and committed to a six-month, 1.2 million barrel a day (3.5 percent) reduction in OPEC crude oil output to 32.5 million barrels per day, effective in January 2017. The result was a small price increase and some price stability. (more…)

Maintaining the Positive Momentum of the Global Economy

March 14th, 2017|

Lagarde.2015MDPORTRAIT4_114x128By Christine Lagarde

Versions in: عربي (Arabic), 中文 (Chinese), Français (French),  Deutsch (German), 日本語 (Japanese), Русский (Russian), and Español (Spanish)

Baden-Baden, the German spa town built on ancient thermal springs, is a fitting venue to discuss the health of the global economy during this week’s meeting of the Group of Twenty finance ministers and central bank governors.

Policymakers will likely share a sense of growing optimism, because the recent strengthening of activity suggests that the world economy may finally snap out of its multi-year convalescence.  (more…)

The Case for Fiscal Policy to Support Structural Reforms

March 13th, 2017|

By Angana Banerji, Era Dabla-Norris, Romain Duval, and Davide Furceri

Versions in 中文 (Chinese), Français (French),Deutsch (German), Русский (Russian), and Español (Spanish)

Many advanced countries need  structural reforms to make their economies more productive and raise long-term living standards.  Our new research shows that provided countries can afford it, fiscal policy, through spending or tax incentives, can help governments overcome some obstacles to the reforms, particularly in the early stages.   (more…)

Schools, Skills, and Economic Growth

March 10th, 2017|

By iMFdirect

Eric Hanushek is an expert on the relationship between education and economics, and he says the only thing that matters for a country is the skills of its people.

“Countries that have lots of skills grow faster than countries that have low skills, and that’s an easy way to explain what’s going on in Africa and Latin America, where the skills are very low, and the countries are just not growing in the long run.”  (more…)

Schools, Skills and Economic Growth

March 10th, 2017|

By  iMFdirect

Eric Hanushek is an expert on the relationship between education and economics, and he says the only thing that matters for a country is the skills of its people.

“Countries that have lots of skills grow faster than countries that have low skills, and that’s an easy way to explain what’s going on in Africa and Latin America, where the skills are very low, and the countries are just not growing in the long run.”

(more…)

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