Since the global financial crisis of 2008, emerging market economies have experienced a surge in capital flows in response to significant monetary easing by major central banks. Gross capital inflows to the Middle East and North Africa (MENA) have remained high compared to other emerging markets, but their composition has changed significantly, with a surge in portfolio flows (equity and bond instruments) and a decline in foreign direct investment. […]
September 19, 2018
Women are underrepresented at all levels of the global financial system, from depositors and borrowers to bank board members and […]
January 23, 2018
Tackling inequality is not only a moral imperative. It is critical for sustaining growth.
Global income inequality has declined in recent years, with the […]
At last week’s Spring Meetings of the IMF and World Bank, economists and policymakers discussed ways to maintain the momentum of the global economic expansion—while also ensuring that the fruits of growth are shared more widely within their countries. Fiscal policy—government’s ability to tax and spend—has an important role to play.
The effectiveness of fiscal policy in mitigating inequality varies widely by country, as seen in our Chart of the Week. The chart shows the redistribution effect of fiscal policy before and after taxes, as measured by the change in the Gini coefficient. A Gini of […]
(Version in اردو)
Following my most recent visit to Pakistan I noticed there seem to be many different and contradictory views about the government’s reform agenda supported by the IMF program. This piece addresses some of the key concerns on people’s minds.
1. The IMF dictated the content of the program.
The government mostly produced the policies supported in this program, which respond to key challenges facing Pakistan today.