Pandemic-related lockdowns, flight cancellations, and border closures may be putting a crimp on summer vacation plans. However, the precipitous drop in tourism will have an outsized impact on countries that rely on foreign travelers—with potentially large-scale effects on their economies’ national accounts. […]
Since the global financial crisis of 2008, emerging market economies have experienced a surge in capital flows in response to significant monetary easing by major central banks. Gross capital inflows to the Middle East and North Africa (MENA) have remained high compared to other emerging markets, but their composition has changed significantly, with a surge in portfolio flows (equity and bond instruments) and a decline in foreign direct investment. […]
Over the past decade, inequality has become one of the most complex and vexing challenges in the global economy.
Inequality of opportunity. Inequality across generations. Inequality between women and men. And, of course, inequality of income and wealth . They are all present in our societies and—unfortunately— in many countries they are […]
In 2019, the IMF will complete 14 assessments under the Financial Sector Assessment Program (FSAP). Eight of this year’s assessments are mandatory: Australia, Austria, Canada, France, Italy, Poland, Singapore, and Switzerland. The other six are voluntary: Algeria, Bahamas, Kuwait, FYR Macedonia, Malta, and Thailand. […]
October 30, 2018
Power Plant, Abidjan, Cote d’Ivoire. The G20 Compact with Africa was initiated under the German G20 Presidency to promote private investment in Africa, including in infrastructure. So far, eleven African countries have joined the initiative: Benin, Côte d’Ivoire, Egypt, Ethiopia, Ghana, Guinea, Morocco, Rwanda, Senegal, Togo and Tunisia (photo: Thierry Gouegnon/Reuters/Newsom)
The Compact with Africa focuses on a fundamental challenge for the continent: how to accelerate private sector investment and create jobs. To realize its full potential, all parties need to deliver. […]
March 5, 2018
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. […]
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. […]