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Tag Archives: Global economy

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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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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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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Making Affordable Rental Housing Part of Europe’s Recovery

By Alfred Kammer, Andrea Schaechter, and Andreas Tudyka  Español, Português Already before the pandemic, many store or restaurant workers living in a major city in Europe had to spend more than half of their household’s income on rent. During the pandemic, many of them have seen their incomes fall, pushing up their share of income going to rent. Since low-income and young renters tend to work more frequently in contact-intensive sectors or hold insecure jobs, government policies are needed to...

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A Proposal to End the COVID-19 Pandemic

By Kristalina Georgieva, Gita Gopinath, and Ruchir Agarwal Български, Español, Русский Many countries have stepped up in the global fight against the pandemic, as have institutions such as the World Health Organization, the World Bank, Gavi (the Global Alliance for Vaccines and Immunization), the African Union, and others. Yet, more than a year into the COVID-19 crisis, new cases worldwide are higher than ever. Urgent action is needed to arrest the rising human toll and economic strain....

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How Strengthening Standards for Data and Disclosure Can Make for a Greener Future

By Caio Ferreira, Fabio Natalucci, Ranjit Singh, and Felix Suntheim Imagine you plan to invest your savings and are looking for a firm or sector with a sustainable business model or a project that can make a real difference in the transition to a low-carbon economy. Where do you get reliable information to assess and compare projects from different companies? Data gaps make it difficult to assess firms’ exposure to climate risk. To give investors access to decision-useful information to...

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Economies in the Financial Spotlight in 2021

By IMFBlog Throughout 2020 and into 2021, the global financial system withstood the effects of the global pandemic and economic lockdowns due to unprecedented policy support. Strong financial systems that are well regulated and well supervised help maintain financial stability. But like a well calibrated engine on a car, maintenance is key. Each year the IMF takes a look under the hood of select economies, which helps to unmask vulnerabilities that could present bigger problems down the...

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Chart of the WeekUS Dollar Share of Global Foreign Exchange Reserves Drops to 25-Year Low

By Serkan Arslanalp and Chima Simpson-Bell عربي, 中文, Español, Português, Русский The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Some analysts say this partly reflects the declining role of the US dollar in the global economy, in the face of competition from other currencies used by central banks for...

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COVID-19: The Moms’ Emergency

By Kristalina Georgieva, Stefania Fabrizio, Diego B. P. Gomes, and Marina M. Tavares عربي , 中文 , Español, Français , 日本語 , Português , Русский  A year ago, the world changed. While the pandemic’s effect on workers has varied worldwide, the new reality has left many mothers scrambling. With schools and daycares closed, many were forced to leave their jobs or cut the hours they worked. New IMF estimates confirm the outsized impact on working mothers, and on the economy as a whole. In short,...

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