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Tag Archives: IMF

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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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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From the History Books: The Rethinking of the International Monetary System

By Atish Rex Ghosh Fifty years ago, the world changed. On August 15, 1971, US President Richard Nixon slammed shut the “gold window,” suspending dollar convertibility. Although it was not Nixon’s intention, this act effectively marked the end of the Bretton Woods system of fixed exchange rates. But, in truth, with the rise of private cross-border capital flows, a system based on fixed exchange rates for the major currencies was no longer viable and Nixon’s decision—decried at the time as an...

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Coming Together

By Vitor Gaspar and Gita Gopinath عربي, Español, Français, Português, Русский Differences in vaccine access and the ability to deploy policy support are creating a growing divergence between advanced economies from many emerging market and developing economies. Faced with high deficits and historic levels of debt, countries with limited access to financing are walking a fiscal tightrope between providing adequate support and preserving financial stability. IMF support focused most where it...

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Women in Economics

By IMFBlog Women remain underrepresented in economics, yet many have made an outsized impact on the field. Whether it’s in working to eliminate poverty, reinventing development economics, examining social safety nets, or improving democratic institutions, Finance & Development magazine has regularly highlighted the contributions made by women economists. In F&D’s People in Economics series, the work of women economists has featured prominently. To add to your summer reading list,...

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Managing the Political Economy of Climate Change Policies

By Davide Furceri, Michael Ganslmeier, and Jonathan D. Ostry Few issues have sparked more attention than how to avoid environmental and human catastrophe from climate change. But even in the wake of massive public protests and an ambitious agenda since the 2015 Paris Agreement, governments are wary of the political costs of enacting climate mitigation policies. In recent IMF staff research, we identify strategies that can minimize or even eliminate such challenges. In the first analysis of...

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