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Tag Archives: United States

A Global Picture of Public Wealth

By Jason Harris, Abdelhak Senhadji, and Alexander F. Tieman Español, Português Our new data on government assets shows that when governments know what they own, they can make better use of the assets for the well-being of all their citizens.  We make these data free and publicly available for all to use because we believe transparency can help create better public policy.  The chart shows that advanced economies have larger balance sheets compared to emerging markets and low-income...

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How to Help, Not Hinder Global Growth

By Christine Lagarde As the G-20 finance ministers and central bank governors gather this week in Fukuoka, they can take inspiration from their host city. Known as Japan’s “startup city,” Fukuoka has flourished in recent decades by embracing trade, innovation, and openness. That spirit is needed more than ever to help reduce trade tensions and clear other stumbling blocks on the way back to higher and more sustainable growth. The goal must be to help, not stand in the way of global growth....

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The Impact of US-China Trade Tensions

By Eugenio Cerutti, Gita Gopinath, and Adil Mohommad 中文 US-China trade tensions have negatively affected consumers as well as many producers in both countries. The tariffs have reduced trade between the US and China, but the bilateral trade deficit remains broadly unchanged. While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected...

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Chart of the Week House Prices Are Up: Should We Be Happy?

By IMFBlog Español, Português House prices around the world have recovered smartly since the 2008 global financial crisis. Depending on where you live, that may or may not be a good thing. IMF research shows that there is a tight link between movements in house prices, on the one hand, and economic and financial stability, on the other. In fact, more than half of the banking crises in recent decades were preceded by boom-bust cycles in house prices. So it’s no wonder that central bankers...

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Bank Profitability: Consider the Source

By Udaibir S. Das, Kun Hu, and TengTeng Xu Español, Português The global financial crisis of 2007–2009 and the ensuing period of low interest rates have renewed interest among policy makers in the relationship between bank profitability and financial stability. Despite the subsequent recovery, the return on equity of many banks remains below the cost of equity. Market valuations remain below the balance sheet value of banks, indicating the market’s assessment of banks’ ability to overcome...

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Financing for Sustainable Development: Tackling Big Challenges

By Chris Lane Français (French) Without adequate financing, the best intentions of the global community expressed in the Sustainable Development Goals (SDGs) will remain beyond reach. Recent setbacks in financing for development should therefore focus policymakers’ attention on the need for decisive national strategies so these best intentions might be realized. Harnessing the necessary resources could be achieved through a combination of revenue mobilization, attracting private finance,...

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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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High Debt Hampers Countries’ Response to a Fast-Changing Global Economy

By Vitor Gaspar, John Ralyea, and Elif Ture عربي, 中文, Español, Français, 日本語, Português, Русский Economic growth is slowing and public debt remains high across the world. Meanwhile, demographic changes and technological advances are reshaping the global economy. Everyone’s opportunities for a good education, along with their job prospects, healthcare, and retirement income depend on the tax and spending choices governments make as they respond to these challenges. What should policymakers...

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Weak Spots in Global Financial System Could Amplify Shocks

By Tobias Adrian and Fabio Natalucci عربي, 中文, Español, Français, 日本語, Português, Русский In the United States, the ratio of corporate debt to GDP is at record-high levels. In several European countries, banks are overloaded with government bonds. In China, bank profitability is declining, and capital levels remain low at small and medium-size lenders. Vulnerabilities like these are on the rise across advanced and emerging market economies, according to the IMF’s latest Global Financial...

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The Global Economy: A Delicate Moment

By Gita Gopinath عربي, 中文, Español, Français, 日本語, Português, Русский A year ago, economic activity was accelerating in almost all regions of the world. One year later, much has changed. The escalation of US–China trade tensions, needed credit tightening in China, macroeconomic stress in Argentina and Turkey, disruptions to the auto sector in Germany, and financial tightening alongside the normalization of monetary policy in the larger advanced economies have all contributed to a...

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