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Tag Archives: technology

Digital Currencies: The Rise of Stablecoins

By Tobias Adrian and Tommaso Mancini-Griffoli Español, Português A battle is raging for your wallet. New entrants want to occupy the space once used by paper bills or your debit card. The adoption of new, digital payment methods could bring significant benefits to customers and society: improved efficiency, greater competition, broader financial inclusion, and more innovation. But it could invite risks to financial stability and integrity, monetary policy effectiveness, and competition...

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Chart of the WeekFintech, Fiber-optics, and Financial Inclusion

By IMFBlog Peoples’ connection to new technology is built on the backbone of electrical and fiber-optic cables running beneath our feet—and under oceans. In 2010, most economies that were not connected to the modern, cabled internet could be found in the Pacific. However, this is no longer the case, and by 2020 the region will be almost completely connected. Governments could harness technology to improve tax collection, government transfers, trade financing, and land registries. Our...

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chart of the weekFuel for Thought: Ditch the Subsidies

By IMFBlog Pensions, education, healthcare, better infrastructure, technology, and climate change: fiscal policymakers have their work cut out for them on many fronts.  Whether you live in a rapidly aging advanced economy,  or a low-income or emerging market economy with a young, booming population, all these issues matter for you.  As the Fiscal Monitor in April 2019 shows, government policies on taxes and spending have to adapt and should shift to growth-enhancing investment.  This means,...

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Sluggish Global Growth Calls for Supportive Policies

By Gita Gopinath عربي, 中文, Español, Français, 日本語, Português, Русский In our July update of the World Economic Outlook we are revising downward our projection for global growth to 3.2 percent in 2019 and 3.5 percent in 2020. While this is a modest revision of 0.1 percentage points for both years relative to our projections in April, it comes on top of previous significant downward revisions. The revision for 2019 reflects negative surprises for growth in emerging market and developing...

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Five Facts on Fintech

By Tobias Adrian and Ceyla Pazarbasioglu From artificial intelligence to mobile applications, technology helps to increase your access to secure and efficient financial products and services. Since fintech offers the chance to boost economic growth and expand financial inclusion in all countries, the IMF and World Bank surveyed central banks, finance ministries, and other relevant agencies in 189 countries on a range of topics and received 96 responses. A new paper details the results of...

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Keynes, the IMF, and the Future

By Gita Bhatt If Lord Keynes, who helped usher in the post–World War II economic order at the Bretton Woods conference, visited the IMF today, he would be astonished at the institution’s evolution. He would find a modern IMF able to help countries with new tools for analyzing financial risks and external imbalances and take on income inequality, corruption, and climate change. He would marvel at our universal membership, diverse staff, and female head. He would also find a world transformed...

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Chart of the WeekCorruption and Your Money

By IMFBlog The costs of corruption run deep. Your taxpayer dollars are lost in different ways, siphoned off from schools, roads, and hospitals to line the pockets of people up to no good. Equally damaging is the way it corrodes the government’s ability to help grow the economy in a way that benefits all citizens. And no country is immune to corruption. Our Chart of the Week from the Fiscal Monitor analyzes more than 180 countries and finds that more corrupt countries collect fewer taxes,...

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Tackling Income Inequality Requires New Policies

By IMFBlog Español, Português The hollowing out of the middle class, rising social and political tension, lack of education, globalization, and rapid technological change are just a few of the many drivers of growing income inequality. “Inclusive growth is one of the critical challenges of our time,” IMF Managing Director Christine Lagarde said at a recent event on income inequality at the IMF Spring Meetings. “The bitter-sweet reality is that despite economic growth there are...

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Chart of the WeekFintech Can Cut Costs of Remittances to Latin America

By IMFBlog Español, Português For Latin Americans living abroad, sometimes sending money back home can be a complicated and costly ordeal. Most people rely on traditional banking methods and money transfer operators to send their remittances. But using these financial services for cross-border payments is costly—about a 6 percent charge on the total amount—and these fees are typically paid by the sender. This means less money left over for the family or friends receiving the money. A more...

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Chart of the WeekFalling Costs Make Wind, Solar More Affordable

By Christian Bogmans Harnessing wind and solar energy for low-carbon electric power generation was once considered uneconomical. Now, rapidly falling costs for these technologies are boosting global renewable energy capacity. Renewable energy sources can help reduce carbon emissions substantially and the effects of global warming. As the Chart of the Week from the April World Economic Outlook shows, solar and onshore wind turbines saw the biggest price declines among low-carbon energy...

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