Recovery Strengthening, but Much Work Remains

2017-04-14T02:12:19-04:00January 21, 2014|

WEOBy: Olivier Blanchard

(Versions in Español عربيРусский,  Français, and 中文 )

I want to take a moment today to remember our colleague Wabel Abdallah, who was our resident representative in Afghanistan and who, as many of you know, was killed in the terrorist attack in Kabul on Friday. We are mourning a colleague, a friend to many of us, above all a dedicated civil servant who represented the […]

Unleashing Brazil’s Growth

2017-04-14T02:13:32-04:00November 27, 2013|

By Martin Kaufman and Mercedes García-Escribano

(Version in Español and Português)

Since the early 2000s, Brazil’s economy has grown at a robust clip, with growth in 2010 reaching 7.5 percent—its strongest in a quarter of a century. A key pillar of its hard-won economic success has been sound economic policies and the adoption of far-reaching social programs, which resulted in a substantial decline in poverty.

In the last couple of years Brazil’s growth slowed down. Although other emerging market economies experienced a similar slowdown, the growth outturns in Brazil were particularly disappointing. And the […]

Taming government debt—it can be done, but it ain’t easy

2017-04-14T02:16:16-04:00September 25, 2013|

By Helge Berger and  Justin Tyson

Sooner or later, and one way or the other, government debt in advanced economies will have to come down from the record levels reached in the wake of the global economic and euro area crises. Figure 1.Dev in Gross Debt and Structural Balance in Adv Economies There is no magic number for how much sovereign debt an economy can shoulder. And, as bringing down debt by cutting government spending or raising taxes comes at the risk of reducing growth and employment in the […]

Fixing the Financial Sector: A Change the UK Must Bank On

2017-04-15T13:35:02-04:00July 17, 2013|

Krishna SrinivasanBy Krishna Srinivasan

The UK economy is a long way from a strong and durable recovery. Growth has been flat for more than two years now, per capita income is about 7 percent below its pre-crisis peak, unemployment is elevated at 7.8 percent, with youth unemployment alarmingly high at 21 percent, and credit to the economy remains severely constrained.

Recent data are, however, encouraging, and policies should capitalize on the nascent signs of recovery to secure strong growth and rebalance the economy.  Fixing the financial sector, including by addressing […]

After a Golden Decade, Can Latin America Keep Its Luster?

2017-04-15T13:35:46-04:00May 6, 2013|

Alejandro WernerBy Alejandro Werner

(Versions in Español and Português)

Latin America continues to be one of the fastest growing regions in the world, even though growth slowed down a bit in 2012. Many economies in the region are operating at or near potential, inflation remains generally low, and unemployment is at historically low levels.

In the near term, the region will continue to benefit from easy external financing and relatively high commodity prices. In our May 2013 Regional Economic Outlook, we project that the region […]

Resolutions for the Fiscal New Year—Staying on Track Is No Easy Task

2017-04-15T13:56:58-04:00February 4, 2013|

We're one month into 2013, and if past experience is any guide, by now many people will have all but forgotten the promises they made about the things they planned to do over the coming year. But unlike many of these resolutions, the ones made by most advanced economies to reduce their 2012 fiscal deficits were by and large kept.

We May Have Avoided the Cliffs, But We Still Face High Mountains

2017-04-15T13:57:41-04:00January 23, 2013|

Compared to where we were at the same time last year, acute risks have decreased. The United States has avoided the fiscal cliff, and the euro explosion in Europe did not occur. And uncertainty is lower. But we should be under no illusion. There remain considerable challenges ahead. And the recovery continues to be slow, indeed much too slow. Overall, these developments lead us to forecast 3.5 percent world growth for 2013.

Building on Latin America’s Success

2017-04-15T14:00:25-04:00December 6, 2012|

Next week, I will travel to Chile and Colombia—my second visit to the region since November 2011. I return with increased optimism, as much of Latin America continues its impressive transformation that started a decade ago.

Taking Stock: Public Finances Now Stronger in Many Countries

2017-04-15T14:01:32-04:00October 9, 2012|

The slow global recovery is making fiscal adjustment more difficult around the world, but this doesn’t mean that little has been accomplished. In fact, significant progress in many countries has been made during the past two years in strengthening their fiscal accounts after the 2008–09 deterioration.

Risks to Financial Stability Increase, Bold Action Needed

2017-04-15T14:04:51-04:00July 17, 2012|

The latest update of the Global Financial Stability Report says financial stability risks have increased, because of escalating funding and market pressures and a weak growth outlook. Now is the moment for strong political leadership, because tough decisions will need to be made to restore confidence and ensure lasting financial stability in both advanced and emerging economies. It is time for action.
Go to Top