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Tag Archives: Global economy

Chart of the WeekHow a Collective Infrastructure Push Will Boost Global Growth

By IMFBlog عربي, 中文, Español, Français, Português, Русский  With vaccines around the corner, there is increased hope that the pandemic could soon be under better control. That said, the need for cooperative efforts to work toward a better future has never been greater. Priority areas relate to the need to produce and distribute vaccines globally, tackle climate change, and bolster the economic recovery from the crisis. An IMF report published ahead of the G20 leaders meeting argues that a...

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Continued Strong Policy Action to Combat Uncertainty

By Kristalina Georgieva Español, Français, 日本語, Português, Русский  As G20 leaders meet virtually this week, the global economy faces a critical juncture. Countries have started to climb back from the depths of the COVID-19 crisis. But the resurgence in infections in many economies shows just how difficult and uncertain this ascent will be. The good news is the significant progress on vaccine development. While there are many caveats, this raises hopes of vanquishing the virus that has taken...

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Chart of the WeekIMF Lending Lifeline: Addressing Urgent Financing Needs Brought on by the Pandemic

IMF Blog  Español, Français, Português The human toll and global economic disruption from the COVID-19 pandemic triggered unprecedented demand for financing. More than 1/3 of the IMF’s membership have received relief from the Fund. Since the onset of the pandemic, the IMF has responded rapidly and decisively to meet urgent and exceptional demand for financial assistance from its membership. Since March 2020, 70 members, including many low-income countries, have received financial support...

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Chart of the WeekData Disruption: The Impact of COVID-19 on Inflation Measurement

By Marshall Reinsdorf Lockdowns, working from home, and physical distancing caused people to spend larger shares of their household budgets on food and housing, while fewer people bought nonessentials, like airline tickets and clothing. And with incomes down as millions have lost their jobs, spending on nonessential items will likely remain depressed. The consumer price index (CPI) does not reflect these abrupt changes in spending patterns because the CPI weights are not continuously updated....

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Bridging the Digital Divide to Scale Up the COVID-19 Recovery

By Patrick Njoroge and Ceyla Pazarbasioglu عربي, 中文, Español, Français, 日本語, Português, Русский  Digitalization has in the past few years enabled developing countries in particular to leapfrog on financial inclusion. Countries like Kenya, Ghana, Rwanda and Tanzania have made great advances in connecting their citizens to financial systems by leveraging on mobile phone technology. Digitalization must be driven by the needs of the people and work for them. As the world has grappled with the...

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Chart of the WeekThe Crisis is Not Over, Keep Spending (Wisely)

By Oya Celasun, Lone Christiansen, and Margaux MacDonald The pandemic-induced economic crisis is set to leave deep scars. Human capital erosion from prolonged high unemployment and school closures, value destruction from bankruptcies, and constraints on future fiscal policy from elevated public debt top the list. Groups that were already poor and vulnerable are set to see the largest setbacks. Swift and unprecedented action by policymakers, including among the Group of Twenty (G20) advanced...

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How COVID-19 Will Increase Inequality in Emerging Markets and Developing Economies

By Gabriela Cugat and Futoshi Narita Emerging markets and developing economies grew consistently in the two decades before the COVID-19 pandemic hit, allowing for much-needed gains in poverty reduction and life expectancy. The crisis now puts much of that progress at risk while further widening the gap between rich and poor. Despite the pre-pandemic gains in poverty reduction and lifespans, many of these countries have struggled to reduce income inequality. At the same time, they saw...

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Chart of the WeekFirms’ Environmental Performance in Times of Crisis

By Pierre Guérin, Fabio Natalucci, Felix Suntheim عربي, 中文, Español, Français, 日本語, Português, Русский  Leaders are often called upon to “rise to the challenge” in times of crisis. As firms and their leaders rise as best they can amid the ongoing health and economic crises, yet another crisis lies on the horizon. A looming environmental crisis, obscured by the exigency of the pandemic, requires action be taken by firms (and others). So how will business leaders and companies respond? Our...

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Emerging and Frontier Markets: Policy Tools in Times of Financial Stress

By Dimitris Drakopoulos, Rohit Goel, Fabio Natalucci, and Evan Papageorgiou عربي, 中文, Español, Français After the unprecedented hit to economic activity in emerging market economies from the COVID-19 pandemic, their economic output is projected to shrink by 3.3 percent in 2020. Central banks across emerging markets responded swiftly and forcefully with an unprecedented response of their own. They did this by using a variety of policy tools and, to a great extent, helped stabilize markets and...

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Pandemic Persistence Clouds Latin America and Caribbean Recovery

By Samuel Pienknagura, Jorge Roldós, and Alejandro Werner Español, Français COVID-19 has hit Latin America and the Caribbean harder than other parts of the world, both in human and economic terms. The relatively large human toll is evident: with only 8.2 percent of the world population, the region had 28 percent of cases and 34 percent of deaths, by end-September. Our new Regional Economic Outlook: Western Hemisphere projects a real GDP contraction of 8.1 percent in 2020. Unlike in previous...

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