Why the IMF is Updating its View on Capital Flows
Fit for Purpose—Adapting IMF Advice to a New Economic Landscape
By Fabian Bornhorst and Ceyla Pazarbasioglu
عربي, 中文, Español, Français, 日本語, Русский
The International Monetary Fund is responding to the policy challenges of a fast-changing global economy still reeling from the COVID-19 crisis: it is modernizing the way it provides its regular policy advice to member countries—a process known as surveillance. […]
What to do When Low-for-Long Interest Rates are Lower and for Longer
Central banks have played a pivotal role in easing financial conditions in response to the COVID-19 shock, and helped avert a catastrophic downturn. […]
Navigating Capital Flows—An Integrated Approach
By Tobias Adrian, Gita Gopinath, Ceyla Pazarbasioglu
عربي, 中文, Español, Français, 日本語, Português, Русский
In a continuous effort to help countries manage volatile cross-border capital flows, the IMF has taken a major step toward a new analytical macroeconomic framework that can guide appropriate policy responses. […]
Toward an Integrated Policy Framework for Open Economies
By Tobias Adrian and Gita Gopinath
While capital mobility provides many benefits, capital flows to emerging market and developing economies are often volatile and depend critically on global financial conditions. […]