eurozone – IMF Blog

A Field Guide to Exchange Rate Regimes in Central, Eastern and Southeastern Europe

IMFBlog2019-03-26T14:31:23-04:00November 29, 2016|

For an economist interested in examining the evolution of monetary and exchange rate regimes, Central, Eastern and Southeastern Europe (CESEE) provides a habitat of unparalleled diversity. Almost every type of regime can be found in the region: from floating and inflation targeting over various pegs to the unilateral use of the euro and full euro area membership.

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Behind the News in Greece and China, Moderate Growth Continues

IMFBlog2019-03-27T15:40:31-04:00July 9, 2015|

By Olivier Blanchard

(Versions in Español and عربي)

Today we published the World Economic Outlook Update.

But first, let me talk about the elephant in the room, namely Greece.

The word elephant may not be right: As dramatic as the events in Greece are, Greece accounts for less than two percent of the Eurozone GDP, and less than one half of one percent of world GDP.
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The Logic and Fairness of Greece’s Program

IMFBlog2017-04-15T14:10:56-04:00March 19, 2012|

The program deals squarely with the two most fundamental issues facing Greece―not only high debt but also low competitiveness. And it is fair, both in asking for shared sacrifices, not only within Greece, but also between Greece and its creditors.

Lagarde in Davos: How to Avoid an Economic Deep Freeze

IMFBlog2017-04-15T14:13:35-04:00January 27, 2012|

Amid the heaviest snowfall in Davos for decades, IMF chief Christine Lagarde has been making her case for urgent action to resolve the eurozone crisis, which is at the center of current global economic concerns. The Fund recently sharply revised downward its forecast for global economic growth and in a speech in Berlin Lagarde mapped a way forward.

Toughing It Out: How the Baltics Defied Predictions

IMFBlog2017-04-15T14:30:14-04:00January 7, 2011|

The three Baltic states—Estonia, Latvia and Lithuania—were among the first victims of the global financial crisis. Although adjustment is still far from complete, a recovery is now underway. It is still too early to judge the success of the Baltic strategy, but it's fair to say that the most dire predictions have not come true.

Key Links for the Greek Financing Package

IMFBlog2017-04-15T14:37:30-04:00May 2, 2010|

Greece announced May 2 it had reached agreement with the International Monetary Fund (IMF), the European Commission, and the European Central Bank (ECB) on a targeted program to stabilize its economy, become more competitive, and restore market confidence with the support of a €110 billion (about $145 billion) financing package. Negotiators over the weekend wrapped up details of the package, involving budget cuts, a freeze in wages and pensions for three years, and tax increases to address Greece's fiscal and debt problems, along with deep reforms designed to strengthen Greece’s competitiveness and revive stalled economic growth.

Crisis Lessons to Remember for Europe’s Policymakers

IMFBlog2017-04-15T14:40:22-04:00February 24, 2010|

IMF European Department Director Marek Belka, a former Polish premier, draws lessons from the global economic crisis for reformers in eastern Europe.

After the Crisis, Much Still at Stake for Eurozone

IMFBlog2017-04-15T14:42:13-04:00January 21, 2010|

Marek Belka, head of the IMF's European Department and a former Prime Minister of Poland, looks at what's at stake for the eurozone as the recovery from the global economic crisis gets under way.