The Elusive Quest for International Policy Cooperation

2017-04-14T01:45:12-04:00March 26, 2015|

By Olivier Blanchard, Atish R. Ghosh, Mahvash S. Qureshi

As with previous crises, the global financial crisis has prompted greater calls for international policy cooperation, but it still remains very much like Nessie, the lovable Loch Ness monster: oft-discussed, seldom seen. To reflect on the obstacles to international policy cooperation, and how to make progress, the IMF recently hosted a panel discussion, Toward a More Cooperative International Monetary System: Perspectives from the Past, Prospects for the Future, with Maurice Obstfeld (CEA; University of Berkley), José Antonio […]

Time to Act on the G-20 Agenda: The Global Economy Will Thank You

2017-04-14T01:48:18-04:00February 6, 2015|

2014MDNEW_04By Christine Lagarde

(Versions in 中文, Français, 日本語Русский, Türk, and Español)

Implementation, investment, and inclusiveness: these three policy goals will dominate the G-20 agenda this year, including the first meeting of finance ministers and central bank governors in Istanbul next week. As Turkish Prime Minister Ahmet Davutoğlu recently put it: “Now is the time to act” – şimdi uygulama zamanı.

There […]

Challenges Ahead: Managing Spillovers

2017-04-14T01:50:26-04:00November 26, 2014|

By Olivier Blanchard, Luc Laeven, and Esteban Vesperoni

The last five years have been a reminder of the importance of interconnections and risks in the global economy. They have triggered intense discussions on the optimal way to combine fiscal, monetary, and financial policies to deal with spillovers, and on the need and the scope for coordination of such policies.

The IMF’s 15th Jacques Polak Annual Research Conference, which took place in Washington DC on November 13 and 14, 2014, focused on Cross-Border Spillovers, and took stock of what […]

Aristotle & the Archbishop of Canterbury: Overheard at the IMF’s Annual Meetings

2017-04-14T01:52:43-04:00October 14, 2014|

By iMFdirect editors

What a week it’s been.  Practical and existential questions on how to do good and be good for the sake of the global economy and finance dominated the seminars at the IMF’s Annual Meetings in Washington.

Our editors fanned out to cover what the panelists, moderators, and audiences said in a variety of seminars, and two big themes caught our eye.

[…]

The Secret Weapon for Fiscal Strength—Strong Budget Institutions

2017-04-14T01:59:37-04:00May 29, 2014|

Holger van EdenBy Holger van Eden 

Most economists would agree that institutions in general are incredibly important in helping to shape countries’ overall economic and fiscal outcomes. But which institutions really matter, and to what extent, is less clear.

A team of staff at the IMF recently completed a study, along with detailed country evaluations, that explores the G-20 countries’ efforts to strengthen their budget institutions in the wake of the global financial crisis, and evaluates their impact on fiscal policy. We ask whether […]

Finish the Job on Financial Regulation

2017-04-14T02:10:38-04:00January 23, 2014|

GFSRBy José Viñals

Brisbane and Basel may be 10,000 miles apart, but when it comes to financial regulation the two cities will be standing cheek by jowl.

At the next summit of the Group of Twenty advanced and emerging economies, to be held in Brisbane in November, political leaders will take the pulse of the global financial regulatory reform agenda, launched five years ago. The explicit goal of the Australian G-20 presidency is to […]

More Diversity will Help the IMF at Work

2017-04-15T14:22:10-04:00June 1, 2011|

Nemat Shafik, who took over as IMF Deputy Managing Director in April, says she has been surprised by the vigor of internal policy debate at the IMF. “From the outside looking in, you have the impression that the IMF is a monolith with a very single-minded view of the world. When you are inside the Fund, what is really striking is how active the internal debate is,” she says. At a time when the global economy is being buffeted by continued uncertainty in Europe, uprisings in the Middle East, and signs of overheating in some emerging market economies, there’s a lot to discuss. And, it addition to global economic problems, the IMF’s work environment has come under increased scrutiny, in particular how women are treated and its professional code of conduct. In an interview, Ms. Shafik discusses some of these issues.

Connecting the Dots Between Global Risks

2017-04-15T14:25:08-04:00April 21, 2011|

Finance ministers and central bank governors from around the world, gathering at the Spring Meetings of the IMF and World Bank in Washington last week. With the recovery solidifying but still fragile, ministers put the spotlight on how to strengthen the IMF’s surveillance—its economic assessment and analysis—to help countries take the action needed to address risks and avoid future crises. As the meetings were wrapping up in Washington DC, the IMF’s First Deputy Managing Director talked about the outcomes of the meetings. While there are concerns about risks in the global economy, there was important progress on a “multilateral cooperative approach on the various challenges we face.” Watch his interview to hear more about what Mr. Lipsky has to say about progress by the G-20 and about the likely changes to the IMF’s multilateral surveillance.
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