Financial Inclusion

IMF Support for the United Nations’ Sustainable Development Goals

By Stefania Fabrizio, Roland Kpodar, and Chris Lane

July 19, 2017

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

Schoolchildren in line in Mali: Reducing the large gap between men’s and women’s education in some low-income states is one of the 2030 goals which IMF advice can address (photo: Stringer/Reuters/Newscom)

Since the adoption of the United Nation’s Sustainable Development Goals (SDGs) in 2015, we at the IMF have supported countries to reach their goals through policy advice, training, and financial support. Results will accrue over time, and we already see some notable progress. Continue reading “IMF Support for the United Nations’ Sustainable Development Goals” »

By IMFBlog| July 19th, 2017|climate change, developing countries, Economic outlook, Economic research, education, Emerging Markets, Employment, Environment, Finance, Gender issues, Government, Inequality, International Monetary Fund, jobs, labor force, Low-income countries, Middle East, Reform, South America, Uncategorized, unemployment, wages|

A New Twist in the Link Between Inequality and Economic Development

By Francesco Grigoli

May 11, 2017

Version in عربي (Arabic), Español (Spanish)

Much has been written about the relationship between inequality and economic development, but theory remains inconclusive. When income is more concentrated in the hands of a few individuals, this can lead to less demand by the general population and lower investment in education and health, impairing long-term growth. At the same time, a certain level of inequality endows the rich with the means to start businesses, and creates incentives to increase productivity and investment, promoting economic activity. But the initial inequality levels also matter to explain why an increase in inequality varies in its impact on economic development across countries.

Continue reading “A New Twist in the Link Between Inequality and Economic Development” »

By IMFBlog| May 11th, 2017|capital flows, developing countries, Economic research, education, Employment, Financial markets, Gender issues, growth, inclusive growth, income, Inequality, International Monetary Fund, labor force, Uncategorized|

Inclusive Growth and the IMF

prakash-loungani-128x112-72 By Prakash Loungani

Versions in 中文 (Chinese), Français (French), and Español (Spanish)

Four years ago, at the World Economic Forum in Davos, IMF Managing Director Christine Lagarde warned of the dangers of rising inequality, a topic that has now risen to the very top of the global policy agenda.

While the IMF’s work on inequality has attracted the most attention, it is one of several new areas into which the institution has branched out in recent years. A unifying framework for all this work can be summarized in two words: Inclusive growth. Continue reading “Inclusive Growth and the IMF” »

By IMFBlog| January 24th, 2017|Economic research, Globalization, growth, IMF, Inequality|

Sub-Saharan Africa Growth Lowest in 20 Years

by iMFdirect

The IMF's latest regional economic outlook for Sub-Saharan Africa shows growth at its lowest level in more than 20 years. In this podcast, the African Department’s new Director, Abebe Aemro Selassie, says it’s a mixed story of struggling oil-exporters and strong performers.

Continue reading “Sub-Saharan Africa Growth Lowest in 20 Years” »

By IMFBlog| October 26th, 2016|Africa, banking, developing countries, Economic research, Finance, Fiscal, growth, IMF, International Monetary Fund, LICs, monetary policy, oil, poverty, technology|

Accelerating Financial Sector Development to Boost Growth in Sub-Saharan Africa

Anne-Marie Gulde-Wolf.IMF By Anne-Marie Gulde-Wolf

Version in Français (French), Português (Portuguese)

There are many reasons why deeper financial development—the increase in deposits and loans but also their accessibility and improved financial sector efficiency—is good for sustainable growth in sub-Saharan Africa. For one, it helps mobilize savings and to direct funds into productive uses, for example by providing the start-up capital for the next innovative enterprise. This in turn facilitates a more efficient allocation of resources and increases overall productivity.

Continue reading “Accelerating Financial Sector Development to Boost Growth in Sub-Saharan Africa” »

By IMFBlog| July 13th, 2016|Africa, Economic outlook, Financial regulation, growth, IMF, International Monetary Fund, Investment, Uncategorized|

The Role of Law in Preserving Financial Stability

By Sean Hagan and Ross Leckow

Since the 2008 global financial crisis, the international community has made a great deal of progress in strengthening legal frameworks governing the financial sector, but a great deal more needs to be done to implement international standards and develop appropriate approaches to emerging challenges.

Continue reading “The Role of Law in Preserving Financial Stability” »

By IMFBlog| July 1st, 2016|banking, Financial regulation, Government, IMF, International Monetary Fund, Uncategorized|

Virtual Currencies: The Public Impact of Private Money

By iMFdirect

(Version in عربي, 中文, and Español)

Technology and finance have always gone together. So what's new this time around? Virtual currencies are part of a broader tech revolution that is driving fundamental change in the global economy.

Continue reading “Virtual Currencies: The Public Impact of Private Money” »

By IMFBlog| January 20th, 2016|Finance, Financial markets, Financial regulation, International Monetary Fund|

Plato & the Incas: Overheard at the IMF’s Annual Meetings

By iMFdirect

According to Plato, you do not really know something unless you can give an account of it. Otherwise, you have just an opinion and not real knowledge. The seminars that took place during the IMF’s Annual Meetings in Lima, Peru would have made Plato proud.

Our editors deployed their pens and notepads and brought back these themes and highlights.

Continue reading “Plato & the Incas: Overheard at the IMF’s Annual Meetings” »

By IMFBlog| October 15th, 2015|Advanced Economies, Annual Meetings, Asia, Economic outlook, Emerging Markets, Financial Crisis, Globalization, IMF, Inequality, International Monetary Fund, Latin America|

The More the Merrier? What Happens When More People Use Financial Services

By Ratna Sahay, Martin Cihak, Papa N’Diaye, Adolfo Barajas, and Srobona Mitra

(Version in Français, Español, عربي)

A growing number of policymakers see financial inclusion—greater access to financial services throughout a country’s population—as a way to promote and make economic development work for society. More than 60 countries have adopted national financial inclusion targets and strategies. Opening bank accounts for all in India and encouraging mobile payments platforms in Peru are just two examples. Evidence for individuals and firms suggests that greater access to financial services indeed makes a difference in investment, food security, health outcomes, and other aspects of daily life. Our study looks at the benefits to the economy as a whole.

Continue reading “The More the Merrier? What Happens When More People Use Financial Services” »

By IMFBlog| September 15th, 2015|Advanced Economies, Economic research, Emerging Markets, Finance, Financial regulation, Fiscal policy, growth, IMF|

A Big Step Forward for Bolstering Financial Inclusion

By David Marston, Era Dabla-Norris, and D. Filiz Unsal

(version in Español)

Economists are paying increasing attention to the link between financial inclusion—greater availability of and access to financial services—and economic development. In a new paper, we take a closer look at exactly how financial inclusion impacts a country’s economy and what policies are most effective in promoting it.

The new framework developed in this paper allows us to identify barriers to financial inclusion and see how lifting these barriers might affect a country’s output and level of inequality. Because the more you know about what stands in the way of financial inclusion, the better you can be at designing policies that help foster it.

Continue reading “A Big Step Forward for Bolstering Financial Inclusion” »

By IMFBlog| January 28th, 2015|Advanced Economies, Africa, Asia, Economic Crisis, Economic outlook, Economic research, Emerging Markets, Financial Crisis, Financial regulation, Fiscal policy, growth, IMF, Inequality, International Monetary Fund, Low-income countries, Uncategorized|

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