Emerging Economies Must Prepare for Fed Policy Tightening
Policymakers may need to react by pulling multiple policy levers, depending on Fed actions and their own challenges at home.
IMF Podcasts: The Year in Review
The past year has brought us new challenges even as the old ones persist. If anything, the ongoing pandemic has taught us to think differently about tackling the challenges and questions we currently face when it comes to big issues like climate change, gender equality, inflation and economic measurement.
The G20 Common Framework for Debt Treatments Must Be Stepped Up
With the debt service suspension initiative expiring and interest rates poised to rise, low-income countries will find it increasingly difficult to service their debts.
Sovereign Domestic Debt Restructuring: Handle with Care
Restructuring domestic debt is like surgery: You only do it if you must, and you avoid it if it might do more harm than good.
Joint Action Needed to Secure the Recovery
G20 should lead in sharing vaccine doses, helping developing countries financially, and committing to reaching net-zero carbon emissions by mid-century.
Fiscal Policy for an Uncertain World
As public debt rises to record levels, countries need to calibrate fiscal policies to their own unique circumstances.
When It Comes to Public Finances, Credibility Is Key
Raphael Espinoza, Vitor Gaspar, and Paolo Mauro
Ending the health crisis and addressing its immediate fallout remains the top priority, but governments would also benefit from committing to fiscal responsibility.
The Next Move: Consequences for Emerging Markets
By Gita Bhatt
We focus this issue of Finance & Development on the road ahead for emerging markets, a label frequently applied to economies in the middle—neither advanced nor low-income. Because of their growing systemic relevance, this group of countries helps anchor global stability. […]
The Policymaker’s Trilemma
By Abebe Aemro Selassie and Andrew Tiffin
中文, Español, Français, 日本語, Português, Русский
Imagine you’re a policymaker in sub-Saharan Africa. You’ve been charged with lifting your country out of the worst health crisis in living memory, and nobody around you knows when it will end—the second wave that gripped the region earlier in the year has eased, but many countries are nonetheless bracing for further waves as winter approaches. […]
A Future with High Public Debt: Low-for-Long Is Not Low Forever
By Marcos Chamon and Jonathan D. Ostry
Many countries are experiencing a combination of high public debt and low interest rates. This was already the case in advanced economies even prior to the pandemic but has become even starker in its aftermath. […]