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Tag Archives: Greece

The IMF 30 Years After Brady

By Rhoda Weeks-Brown and Martin Mühleisen Last month marked the 30th anniversary of the announcement of the “Brady plan”. In response to the 1980s Latin American debt crisis, this plan, named after then US Treasury Secretary Nicholas Brady, allowed countries to exchange their commercial bank loans for bonds backed by US Treasuries, bringing an end to a tumultuous period with possible systemic consequences for the global banking system at the time. In what was then a novel approach, banks...

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Chart of the Week: Bye Bye Baby—How Crises Affect Fertility Rates

By IMFBlog November 13, 2018 Increasing access to affordable and high-quality childcare can make it easier for families to have more children (photo: Franziska Kraufmann/dpa/Newscom) The global financial crisis a decade ago and the resulting recession left long-lasting scars on future growth in more ways than one. Our October World Economic Outlook points to signs that the crisis may have had lasting effects on potential economic growth through its impact on fertility rates and...

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Lasting Effects: The Global Economic Recovery 10 Years After the Crisis

By Wenjie Chen, Mico Mrkaic, and Malhar Nabar October 3, 2018 عربي,中文, Español, Français, Baˈhasa indoneˈsia, Português, Русский Woman cleaning in Berlin, Germany: the 2008 global financial crisis has had long-lasting effects on economic growth (photo: Caro/Olaf Jandke/Newscom) In the year following the 2008 financial crisis, economic activity declined in half of all countries in the world. Our analysis in Chapter 2 of the October World Economic Outlook shows that in many countries...

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The Long-Term Impact of Brexit on the European Union

By Jiaqian Chen, Christian Ebeke, Li Lin, Haonan Qu, and Jesse Siminitz August 10, 2018 Versions in Español, Français, A container ship entering the Port of Marseille, France: The UK is among the European Union's largest trading partners, accounting for about 13 percent of its trade in goods and services (photo: Gerard Bottino/Newscom) When the United Kingdom leaves the European Union, higher barriers to trade, capital flows, and labor mobility will affect output and jobs not only in...

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Chart of the Week: Equal Pay Remains a Global Issue

By IMFBlog August 6, 2018 Versions in عربي, 中文,  Español, Français, 日本語, Português, Русский  The G7 countries, which are committed to the need for closing the gender gap, have a wage gap average of about 16 percentage points (photo: iStock by GettyImages).   In the battle for the parity of the sexes, some countries have made progress in reducing inequality—such as in access to health care, education, and financial services—but worldwide, men still have more economic...

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Chart of the Week: Top 5 Charts

By IMFBlog July 25, 2018 People wait while their electric cars charge, in Xiamen, China (photo: Zhang Guojun/Newscom) Rank has its privileges, the saying goes.  This week our editors pull rank and pick their favorite charts from our Chart of the Week series.  We’ve selected charts on electric cars, China’s thrift, Iceland’s tourism, wealth and inequality, and millennial home ownership as our top choices.  Chart of the Week: Sharing the Wealth: Inequality and Who Owns What Chart of...

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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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Game-Changers and Whistle-Blowers: Taxing Wealth

By James Brumby and Michael Keen February 13, 2018  Versions in 中文 (Chinese), 日本語 (Japanese) New Delhi, India: there are now very few effective explicit wealth taxes in either developing or advanced economies (photo: Jens Kalaene/Corbis). High and rising income inequality is a serious concern in many countries, as highlighted in the IMF’s recent Fiscal Monitor. Wealth, however, is distributed even more unequally than income, as in the picture below. Although Thomas Piketty has...

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Forget Tulips & Bitcoin – Here’s The Real Bubble

While the broader market for Swiss stocks has risen modestly this year, one ‘entity’ has outperformed its peers by such a staggering margin, it has left bamboozled market experts struggling for an explanation. And that company is…the Swiss National Bank. The price of a share in Swiss National Bank in August rose above 3,000 francs ($3,143) for the first time, more than double the level of a year ago, and up 50% since...

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The Secret History Of The Banking Crisis

Accounts of the financial crisis leave out the story of the secretive deals between banks that kept the show on the road. How long can the system be propped up for? - Click to enlarge It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world from China and South Korea, to Ukraine, Greece, Brexit Britain and Trump’s America it has shaken...

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