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iMFdirect
iMFdirect features views by IMF economists and officials about pressing issues in the global economy. The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board.

iMFdirect

Natural Disasters and Climate Change

The impact of forest fires, storms and floods is increasing as temperatures rise, impacting countries that do not contribute significantly to global emissions. Tune in to the discussion with Kristalina Georgieva, Barbados Prime Minister Mia Amor Mottley, Minister of Economy and Finance of Madagascar Richard Randriamandrato, and Bloomberg Television's Haslinda Amin. 🗓 June 16 🕙 9 AM ET 📺 IMF.org/live

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Promoting an Inclusive Recovery

Achieving inclusive growth—that is, strong and sustainable economic growth whose benefits are widely shared—is the key policy challenge of our day and thus a fundamental pillar of the IMF’s policy focus in the years ahead. Inequality has been rising in many countries, and large income disparities persist across regions, genders, ethnicities, and generations. The COVID-19 pandemic and economic and financial crises have further exposed these vulnerabilities, while longer-term...

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How to Attract Private Finance to Africa’s Development

By Abebe Aemro Selassie, Luc Eyraud, and Catherine Pattillo 中文, Français African economies are at a pivotal juncture. The COVID-19 pandemic has brought economic activity to a standstill. Africa’s hard-won economic gains of the last two decades, critical in improving living standards, could be reversed. High public debt levels and the uncertain outlook for international aid limit the scope for growth through large public investment programs. The private sector will have to play more of a role...

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Getting Back to Growth

By Lone Engbo Christiansen, Ashique Habib, Margaux MacDonald, and Davide Malacrino عربي, Español, 日本語, Português, Русский Producing and consuming more goods and services for the same amount of work sounds too good to be true. In fact, it’s entirely possible. Higher productivity is one of the key ingredients to higher economic growth and incomes. It’s all about how workers become more productive. For many of us, the COVID-19 pandemic has changed the way we work and spend. The question is how...

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The Benefits of Setting a Lower Limit on Corporate Taxation

By Aqib Aslam and Maria Coelho On June 5, 2021, Finance Ministers from the Group of Seven major industrialized nations committed to a global minimum corporate tax rate on multinationals of at least 15 percent. While there are a number of details yet to be hammered out in broader global discussions, this historic agreement heralds an important step forward on the road to international corporate tax reform. It also highlights the role minimum taxes can play at the global level to help reverse...

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What Next for Emerging Markets?

So far, emerging markets have been agile in responding to the economic fallout from the pandemic. But the coming months will test the ability of policymakers in these countries to navigate a shifting landscape and cope with possible market volatility. The IMF’s Ceyla Pazarbasioglu and Rupa Duttagupta discuss how these countries can manage the policy tradeoffs and achieve a durable recovery.

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Chart of the WeekFour Factors Behind the Metals Price Rally

By Martin Stuermer and Nico Valckx As economies reopen in various parts of the world, the price of some commodities has soared, including the prices of prominent industrial metals. The extent to which the metals price rally may lose steam depends on how multiple factors will play out. As our latest chart of the week shows, metals prices have increased by 72 percent relative to their pre-pandemic levels—reaching a nine-year high in May (in inflation adjusted terms). The increase has been...

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Fiscal Stimulus: Lessons from the US to the EU?

With the American Rescue Plan, the US government is putting in place a fiscal stimulus package worth 10% of GDP, to be followed by an equally large infrastructure package. In the EU, although the fiscal policy response has also been unprecedented, it is much smaller. Should the EU learn from the US? Does the COVID crisis require a large aggregate demand response? What can be achieved with such a policy approach? This session is organized as part of CEPS’ collaboration with the European...

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The Next Move: Consequences for Emerging Markets

By Gita Bhatt We focus this issue of Finance & Development on the road ahead for emerging markets, a label frequently applied to economies in the middle—neither advanced nor low-income. Because of their growing systemic relevance, this group of countries helps anchor global stability. Yet, as we drill down and define their characteristics, we find a widely diverse set of economies of varying sizes and growth rates that face different prospects, priorities, and challenges. Some, like...

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