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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

To Safeguard Global Financial Stability, Boost the Resilience of Investment Funds

By Tobias Adrian, Antonio Garcia Pascual, Ranjit Singh, and Jay Surti Investment funds were hit hard by the pandemic; their response amplified its adverse impact on financial markets and capital flows. Our brush last year with one of the biggest economic shocks of our lifetimes revealed some fundamental vulnerabilities that could affect global financial stability. Caught up in the financial market turmoil generated by risk averse investors, many investment funds were heavily affected by the...

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How to Tax in Asia’s Digital Age

By Era Dabla-Norris, Ruud De Mooij, Andrew Hodge, and Dinar Prihardini Español New global reforms will change where tech giants pay taxes in Asia and make the international tax system more robust. Digitalization —the technology that powers fintech, e-commerce, and online services—enables us to make mobile money transfers, purchase goods and services online, and interact with people across the globe. It has created some of the largest global businesses, such as online platforms and...

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Taxation and Digitalization in Asia

A conversation on the future of taxation in an increasingly digitalized world and the reforms countries need to meet the challenges with Kristalina Georgieva, Emma Agyemang, Vitor Gaspar, Masatsugu Asakawa, Febrio Kacaribu, Alan Lee, and Chia-Tern Huey Min.

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Building Back Better: Dominica on a path from devastation to climate resilience

After 2017’s Hurricane Maria, the small island state of Dominica knew it needed to make a change. Still reeling from $1.2 billion in damage (226 percent of the country’s annual GDP), politicians created a new agency, The Climate Resilience Execution Agency for Dominica (CREAD). CREAD worked with the IMF and other partners to create a strategy that priced out all of the infrastructure, insurance, and social resilience needed to make the country the first in the world to become...

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Finland Leads the Way with Climate-Friendly Wood Innovations

While many countries pursue business-as-usual, Finland is helping solve the climate crisis through innovation. With 65 percent of its land covered by forests, Finland has wood in abundance. Cutting-edge Finnish companies are inventing new ways to use wood, from the production of clothing to multi-story buildings, and packaging for the global Internet economy. Products are easy to recycle, biodegradable and hypoallergenic, and CO2 can remain stored in cut wood for decades and even centuries....

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The Climate Issue

By Gita Bhatt In Ernest Hemingway’s novel The Sun Also Rises, a character is asked how he went bankrupt. “Two ways,” he answers. “Gradually, then suddenly.” It’s the same with climate change. The damage is becoming less and less gradual, and unless we take action, the world could suddenly reach an irreversible tipping point. We now know the problem is much worse than we once thought. It requires not incremental change, but radical overhaul—roughly halving carbon emissions each decade through...

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Your Top 5 Back-to-School Blogs

By IMFBlog What’s on your mind as you (or your kids) head back to school? To help you stay on top of the news and policy debates from the past few months, our IMFBlog editors have put together a list of our top reads on economics and finance. Our list of blogs gives you a snapshot on the state of the global economy, a glimpse at the new world of cryptocurrencies, and some insight into the phenomenon of rising prices. Urgent Action Needed to Address a Worsening “Two-Track” Recovery   ...

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A Shot in the Arm—How Special Drawing Rights Can Help Struggling Countries

By IMFBlog The largest allocation of Special Drawing Rights, or SDRs, in history—about $650 billion—came into effect earlier this week. The allocation is a significant shot in the arm for the world and, if used wisely, a unique opportunity to combat this unprecedented crisis. The SDR allocation will provide additional liquidity to the global economic system—supplementing countries’ foreign exchange reserves and reducing their reliance on more expensive domestic or external debt. Countries can...

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Your Weekend Podcast Roundup

By IMFBlog We may not be commuting as much, but it seems we’re still listening. According to the latest Infinite Dial survey from Edison Research and Triton Digital, the percentage of people listening to podcasts weekly grew 17 percent in 2021. Whether you’re hitting the road this weekend, or re-organizing the kitchen cupboards (again), here’s a list of podcast interviews with some of the brightest minds in economics and development, as selected by our editors at Finance & Development....

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