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Tag Archives: Kristalina Georgieva

Charting a Path for a Resilient Recovery in Sub Saharan Africa

By Kristalina Georgieva and Abebe Aemro Selassie Perhaps first among the many lessons of 2020 is that the notion of so‑called black swan events is not some remote worry. These purportedly once‑in‑a‑generation events are occurring with increasing frequency. Take climate‑related shocks, especially in sub‑Saharan Africa. More than any other region, it is vulnerable to these events because of its heavy dependence on rain‑fed agriculture and its limited ability to adapt to shocks. Every year, the...

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Toward an Integrated Policy Framework for Open Economies

By Tobias Adrian and Gita Gopinath While capital mobility provides many benefits, capital flows to emerging market and developing economies are often volatile and depend critically on global financial conditions. The risks posed by volatile capital flows to macroeconomic and financial stability are often difficult to address with conventional monetary policy tools. Hence, policymakers have complemented interest rate policy with additional tools—including foreign exchange intervention, capital...

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The Global Economic Reset—Promoting a More Inclusive Recovery

By Kristalina Georgieva  عربي, 中文, Español, Français, 日本語 The COVID-19 crisis is inflicting the most pain on those who are already most vulnerable. This calamity could lead to a significant rise in income inequality. And it could jeopardize development gains, from educational attainment to poverty reduction. New estimates suggest that up to 100 million people worldwide could be pushed into extreme poverty, erasing all gains made in poverty reduction in the past three years. Policymakers...

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A Turning Point for Political Economy

By Gita Bhatt Five months ago we set out to write in this issue of Finance & Development about political economy—how politics affects the economy and the economy affects politics. Few suspected then that, instead of exploring an academic question, we would be witnessing real-world political economy dynamics unfolding, tragically, in real time. The pandemic, with its appalling loss of life, has brought the Great Lockdown and frozen the wheels of commerce. People’s lives have been turned...

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Fiscal Policies to Protect People During the Coronavirus Outbreak

This blog is part of a special series on the response to the coronavirus. By Vitor Gaspar and Paolo Mauro A key role of government is to protect the well-being of its people—most crucially and visibly during emergencies such as the recent outbreak of the coronavirus. The IMF has $50 billion available in rapid-disbursing emergency financing to help countries suffering from the virus. As Managing Director Kristalina Georgieva said, what we want is to guarantee that people are not going to...

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The Adaptive Age

By Kristalina Georgieva عربي, 日本語, Русский No institution or individual can stand on the sidelines in the fight against climate change When I think of the incredible challenges we must confront in the face of a changing climate, my mind focuses on young people. Eventually, they will be the ones either to enjoy the fruits or bear the burdens resulting from actions taken today. I think of my 9-year-old granddaughter. By the time she turns 20, she may be witness to climate change so profound...

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