Top 10 Charts of the Week for 2018

2019-03-13T10:20:47-04:00January 7, 2019|

By IMFBlog

January 7, 2019

Looking ahead (photo: Newsis/Reuters/Newscom)

A picture is worth a thousand words.  The portraits of the global economy in our Chart of the Week series have proven a hit, and to help you start the year with just the right facts and figures, we have pulled together your top reads of 2018.  […]

Bringing Down High Debt

2019-03-14T12:19:57-04:00April 18, 2018|

By Vitor Gaspar and Laura Jaramillo

April 18, 2018

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

High debt makes governments’ financing vulnerable to sudden changes in market sentiment (photo: NYSE-LUCAS JACKSON-REUTERS Newscom).

Global debt hit a new record high of $164 trillion in 2016, the equivalent of 225 percent of global GDP. Both private and public debt have surged over the past decade. High debt […]

Managing Debt Vulnerabilities in Low-Income and Developing Countries

2019-03-14T13:28:16-04:00March 22, 2018|

By Tao Zhang

March 22, 2018

Versions in Português (Portuguese)  

Congested streets in Dhaka, Bangladesh. In a third of low-income countries, including Bangladesh, government deficits finance investment in much needed infrastructure (photo: Motoya Taguchi/Jiji Press/Newscom).

Government debt in some of the world’s poorest countries is rising to risky levels, a new IMF report shows. The report looks at economic developments and prospects among the world’s low-income […]

Chart of the Week: Budget-friendly, Equitable Growth in France

2019-03-25T16:03:59-04:00May 15, 2017|

By IMFBlog

May 15, 2017

Version in Français (French)

One need look no further than the national motto—liberté, égalité, fraternité—to understand that equality is an especially important concept in France. French policies play an important role in combating inequality. This is primarily achieved through a combination of minimum wage policies and an extensive tax and transfer system.

But these traditional equality-enhancing policies may have reached their limits as unemployment has become entrenched and budgets have been severely stretched. So, what are the best policies for a country weighing how to boost growth, lessen inequality, and minimize costs? It is […]

Dealing with Sovereign Debt—The IMF Perspective

2019-03-26T12:00:10-04:00February 23, 2017|

By Sean Hagan, Maurice Obstfeld, and Poul M. Thomsen

Versions in Français (French), Deutsch (German); ελληνικά (Greek), and Español (Spanish)

Debt is central to the functioning of a modern economy. Firms can use it to finance investments in future productivity. Households can use it to finance lumpy purchases, such as big consumer durables, or a home. Sometimes, however, firms’ investments do not pan out or a household’s main earner loses his or her job. Countries’ legal systems generally recognize that in these cases, debtors and creditors alike—along with society at large—may be better off if there is an orderly […]

Acting Collectively: A Better Way to Restructure Government Debt

2017-04-14T01:51:25-04:00November 24, 2014|

By Sean Hagan 

(version in Español)

To restructure or not to restructure? That is a question few governments would like to face. Yet, if a country does find itself with an unsustainable debt burden, one way or another, it will have to be restructured. And if that time comes, it is better for the debtor, creditors, and the entire financial system that the restructuring be carried out in a prompt, predictable, and orderly manner.

The global financial crisis ushered in a new wave of sovereign debt crises that […]

The Trillion Dollar Question: Who Owns Emerging Market Government Debt

2017-04-14T02:09:51-04:00March 5, 2014|

By Serkan Arslanalp and Takahiro Tsuda

(Version in EspañolFrançaisPortuguêsРусский中文 and 日本語)

There are a trillion reasons to care about who owns emerging market debt.  That’s how much money global investors have poured into in these government bonds in recent years —$1 trillion.  Who owns it, for how long and why it changes over time can shed light on the risks; a sudden reversal of money flowing out of a country can hurt.  Shifts in the investor base also can have […]

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 […]

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.
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