Communications Can Help to Get Financial Stability Off the Ground

2019-03-15T10:25:33-04:00February 22, 2018|

By Olga Stankova

February 22, 2018 

Versions in 中文 (Chinese), Español (Spanish), Português (Portuguese), Русский (Russian)

Policy and communications—two wings to fly to success (photo: iStock by Getty Images).

When the capacity to communicate effectively on financial stability policies is not there, it is like trying to fly a plane with one wing missing. It takes more than sound policy making. Communications is an essential part of the job.

Following the global financial […]

Capacity Development in Africa: the Faces behind the Numbers

2019-03-27T10:30:34-04:00April 7, 2016|

By Carla Grasso CGrasso

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

If there’s one thing all economists can agree on, it’s the importance of numbers. Without good data, it is difficult to assess how an economy is performing and formulate smart policies that help improve lives. […]

In Mozambique—and In Africa—Rising Requires Resilience

2017-04-14T01:55:23-04:00September 3, 2014|

Doris RossBy Doris Ross

Three months ago African leaders and policymakers assembled in Mozambique under an “Africa Rising” banner to assess the continent’s strong economic performance. But while the outlook for the continent remains strong, individual countries have faced problems and the uncertain global outlook continues to pose risks. Against this backdrop, what are the policies that Africa should pursue to sustain the positive momentum for the continent?

In reality, Africa Rising has never been about unbridled optimism; it has been a tale of strong growth tempered […]

Korea: Keeping It Dynamic

2017-04-14T02:13:08-04:00December 6, 2013|

MD's Updated HeadshotBy Christine Lagarde

(Versions in 한국의 and 中文)

My arrival in Seoul was somewhat delayed when dense fog caused my plane from Phnom Penh to be temporarily diverted from Seoul to Daegu. Still, better late than never! I was delighted to be back in Seoul, capital of one of the world’s most dynamic and innovative economies. Just remember: in a remarkably short period of time, Korea has risen from close to the bottom […]

Cambodia: Moving Beyond The Frontier

2017-04-14T02:13:10-04:00December 4, 2013|

MD's Updated HeadshotBy Christine Lagarde

Cambodia is the first leg of my Asia trip. This is a country that has already grown by leaps and bounds, and now stands at the frontier of becoming an emerging market economy in the heart of the most dynamic hub of the global economy.

I could feel this energy and excitement everywhere. Cambodians, especially young Cambodians, have big dreams and substantial societal aspirations. They want dignity and respect, so that […]

Growing Institutions? Grow the People!

2017-04-15T14:04:13-04:00August 10, 2012|

The current crisis in the eurozone also highlights the importance of coherent economic and political institutions at all levels of economic development. Weaknesses in national macroeconomic and statistical institutions in supposedly “advanced” countries were at the root of the crisis, especially in Greece. And the lack of supportive fiscal and regulatory institutions at the European level—which require making additional steps in political integration—is behind the markets’ continued anxiety surrounding the common European currency.

Convergence, Crisis, and Capacity Building in Emerging Europe

2017-04-15T14:04:35-04:00July 27, 2012|

Central, Eastern, and Southeastern Europe has been through a lot. In two short decades, the region moved from a communist planned system to a market economy, and living standards have converged towards those in the West. It has also weathered major crises: first the break-up of the old Soviet system in the early 1990s, then the Russian financial crisis in 1998, and finally the recent global economic crisis. How did these countries do it? From the Baltic to the Balkans, the region’s resilience and flexibility are the result of hard work and adaptability. But more than anything, it is the strong institutions built over the last two decades that have enhanced the region’s ability to deal with the momentous challenges of the past, the present—and those to come.

Making Sure Middle East Growth Is Inclusive

2017-04-15T14:08:13-04:00May 10, 2012|

We know that social exclusion and unemployment, especially among young people, are very painful and that the challenges ahead are formidable. We should not let the hopes and aspirations of the people who took to the street go unfulfilled. We must strive to ensure that the people of the Arab countries in transition have the opportunity for a fairer and more prosperous future.

A Spotlight on the IMF’s Technical Assistance

2017-04-15T14:17:01-04:00October 13, 2011|

Of the three main pillars of the IMF’s work, technical assistance has been a sort of middle child; it doesn’t get the attention of the oldest and youngest children, yet in many ways is the glue that holds the family together. The other two pillars are well known: we lend money to countries in times of need and crisis, and conduct annual check-ups of their economies and financial systems, known as surveillance. As countries around the world cope with the global economic crisis, the IMF’s technical assistance is a vital part of the work that we do to help countries prevent, prepare for and resolve crises. A new strategy for technical assistance is under discussion at the IMF and there are five key areas we need to focus on: adapting to countries’ evolving needs, more cooperation with donors, new ways to deliver technical assistance, the importance of training, and a focus on results.

Heartbreak and Hardship—Finding a Way Out for Fragile States

2017-04-15T14:19:19-04:00September 7, 2011|

War-torn Iraq, quake-ravaged Haiti, conflict-devastated Sierra Leone. So many countries around the world face the legacy of terrible hardships that have left them scarred and fragile. Some have questioned whether the IMF has a meaningful role to play in these countries, but they couldn’t be more wrong. A recent review found that the IMF has played an important positive role in fragile states. This doesn’t mean we always got it right. We can do better. There is plenty of scope to adapt how we engage in these countries; to be more flexible and deepen cooperation with other development partners. In this post, Dominique Desruelle discusses a few ideas that we’ll be exploring—and discussing with stakeholders—in the months ahead, including at a high-level public seminar in Washington later this month.
Go to Top