How Africa Can Navigate Growing Monetary Policy Challenges
Tools such as foreign exchange intervention can ease the effects of shocks but need to be carefully weighed against potential longer-term costs.
Personal Income Tax Has Untapped Potential in Poorer Countries
Developing countries have shown remarkable progress in using the personal income tax.
Pandemic’s E-commerce Surge Proves Less Persistent, More Varied
Spikes in the share of online spending are dissipating overall, but there’s significant variation by industry
Chart of the Week Gender Budgeting Is More Widespread But Implementation Remains a Challenge
The pandemic has deepened long-standing gender gaps, with women continuing to bear the burden of unpaid work.
Rethinking Fiscal Policy and Debt for a Post-Pandemic World
Nearly a century ago, Joseph Schumpeter wrote, “The spirit of a people, its cultural level, its social structure…all this and more is written in its fiscal history…. The public finances are one of the best starting points for an investigation of society.”
Sustainable Finance in Emerging Markets is Enjoying Rapid Growth, But May Bring Risks
Financial stability concerns include potentially higher sensitivity to global financial conditions.
Chart of the WeekEconomic Indicators Signal Diminished Growth Momentum at Start of Year
The economic recovery continues, though the pace of the recovery has slowed. Notably, our global forecast was lowered in January to a still-healthy 4.4 percent expansion this year.
Governments Must Choose to Support or Restructure Heavily Indebted Firms
To stave off risks to recovery, policymakers should focus support on firms that can survive and prepare to restructure or liquidate those that cannot.
Should Monetary Finance Remain Taboo?
In exceptional times, monetary finance may provide helpful policy support but there are risks.
Supply Disruptions Add to Inflation, Undermine Recovery in Europe
With supply constraints likely to persist, the challenge for policymakers is to support recovery without allowing high inflation to become entrenched.