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Tag Archives: euro zone

The Wealth of Nations: Governments Can Better Manage What They Own and Owe

By Vitor Gaspar, Jason Harris, and Alexander Tieman October 10, 2018 A firefighter in Auckland, New Zealand: when governments know what they own they can put their assets to better use and can earn about 3 percent of GDP more in revenues to spend on citizens’ well being (Photo: Rafael Ben-Ari/Newscom) What is the state of your personal finances? You probably think first about your debts: your mortgage, your credit card balance, and your student loans. But you probably also think about...

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The Financial System Is Stronger, but New Vulnerabilities Have Emerged in the Decade Since the Crisis

By Tobias Adrian October 10, 2018 عربي, 中文, Español, Français, Português, Русский Debt owed by governments, companies and households in economies with globally systemically important financial sectors has risen since the global financial crisis (Photo: Richard B. Levine/Newscom) Although the global expansion has plateaued, easy monetary policies continue to support growth. But we shouldn’t rest too easily. Chapter 1 of the latest Global Financial Stability Report finds that short-term...

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A Decade After Lehman, the Financial System Is Safer. Now We Must Avoid Reform Fatigue

By Adolfo Barajas, Claudio Raddatz, and James P. Walsh October 3, 2018 A ticker in New York’s Times Square flashes the news of the collapse of Lehman Brothers on September 15, 2008: In the decade since, the financial sector has  strengthened considerably, but the reform agenda remains incomplete (Photo: Joshua Lott/Reuters/Newscom) In the decade since the collapse of US investment bank Lehman Brothers sparked the most severe economic crisis since the Great Depression, regulation and...

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Our Digital Future

By Camilla Lund Andersen May 30, 2018 “Money makes the world go around,” Liza Minnelli famously sang in the movie Cabaret. Money has for centuries been central to human relationships. Loss of faith in its value can result in economic and political instability, even war. In the past few years, financial technology—fintech for short—has caught the world’s imagination by offering alternatives to traditional means of payment. Will digitalization redefine money? In this issue, we explore the...

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Malta’s Good Bet

By IMFBlog May 7, 2018 Marsaxlokk Harbor, Malta. Not only tourist paradise: the country’s economy makes profits on the betting and gambling industry (photo: iStockPhoto/Andrey Danilovich). Known mostly for its azure seas and spectacular old towns, Malta has also become a hub for gambling and betting companies: nowhere else in the European Union does this sector account for such a large part of the economy as on the island south of Sicily in the Mediterranean Sea. While the gambling...

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A Framework for Currency Unions and IMF Lending

By Sean Hagan and Hugh Bredenkamp March 16, 2018 New guidance approved by the IMF represents an important step in how the Fund supports members of currency unions undertaking adjustment (photo: IMF). Countries benefit in various ways from belonging to a currency union—a group of countries that share a single currency. Businesses can trade and invest across borders more easily. Member countries gain access to larger markets without facing currency risk. And in some circumstances,...

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Fintech Quiz: How Much Do You Know?

By IMFBlog March 12, 2018 Rapid advances in digital technology are transforming the financial services landscape (iStock by Getty Images). From artificial intelligence to cryptography, rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers, and regulators alike. This new wave of technology is often called “fintech” and the industry is thriving. Consumers worldwide are using two or...

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The Euro Area Needs a Fiscal Union

By Helge Berger, Giovanni Dell’Ariccia, and Maurice Obstfeld February 21, 2018 Without more tangible elements of a fiscal union, the euro area will remain fundamentally vulnerable to shocks. (photo: iStock by GettyImages) . The euro area is experiencing a robust recovery, but the architecture supporting Europe’s currency union remains incomplete and leaves the region vulnerable to future financial crises. While substantial progress has been made to address some architectural...

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Countries in the IMF Financial Spotlight in 2018

By IMF Blog January 31, 2018 Financial sector assessments are showing that countries and financial systems are adapting better methods to monitor financial vulnerabilities (photo: Ingram Publishing/Newscom). The IMF in 2018 will complete ten assessments of countries’ financial systems, to identify risks and propose policies to strengthen their financial stability. Three of this year’s reviews will be for countries with Systemically Important Financial Systems : Belgium, Brazil and...

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The Current Economic Sweet Spot Is Not the “New Normal”

By Maurice Obstfeld January 22, 2017 Versions in 中文 (Chinese),  Español (Spanish),  Русский (Russian) Global growth continues to pick up and is broad based. But no matter how tempting it is to sit back and enjoy the sunshine, policy can and should move to strengthen the recovery (photo: Mumbai, India, Ingram Publishing/Newscom). As the year 2018 begins, the world economy is gathering speed. The new World Economic Outlook Update revises our forecast for the world economy’s growth in...

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