Weekend in Washington: Cooperating Our Way Out of Crisis

2017-04-15T14:33:21-04:00October 12, 2010|

This past weekend in Washington DC, as the economic leaders of 187 countries gathered for the Annual Meetings of the IMF and World Bank, the mood was tense. The world’s finance ministers and central bank governors were concerned because the global recovery is fragile. And, on top of the risks to the outlook, there is concern that the strong international cooperation that was shown during the crisis is in danger of receding. So, after the meetings, was the atmosphere less tense? Yes...and no. The world made some progress over the weekend. But we shouldn’t be too self-congratulatory. We are not yet out of the woods. The IMF’s analysis indicates that improved economic policy coordination, over the next five years, could increase global growth by 2.5 percent, create or save 30 million jobs, and lift 33 million more out of poverty. With such high potential returns, can we really afford each to go our own way?

Unwinding Public Interventions in the Financial Sector

2017-04-15T14:42:49-04:00December 10, 2009|

The IMF held a high-level conference last week on unwinding public interventions in the financial sector. Insightful discussions took place among policymakers, academics, and the private sector, highlighting several areas where a broad consensus appears to be emerging, as well as some challenges that policymakers are about to face.

The Health Care Challenge: Not Just a U.S. Problem

2017-04-15T14:43:17-04:00November 20, 2009|

Health spending in OECD countries increased from 4½ percent of GDP in 1960 to 12½ percent in 2007. What accounts for this dramatic increase? Income growth, insurance, demographics, and technological change all contributed, but the latter was the key driver.
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