The fiscal implications of the sharp decline in commodity prices are very large. The deterioration in the 2015 primary balance in commodity exporting countries is about 5 percentage points of GDP on average, with countries like Saudi Arabia and Venezuela experiencing a particularly sharp decline.
A collective effort to deliver a policy upgrade is needed urgently to face up to rising challenges in an uncertain world, to ensure financial stability and better growth prospects. Three percent of global output is at stake.
Today, we released the October 2015 World Economic Outlook. Our forecasts come at a moment when the world economy is at the intersection of at least ...
Nick Lardy, China specialist at Washington's Peterson Institute for International Economics, says the rebalancing underway in the world's second largest economy is a good thing.
While outstanding IMF lending is overwhelmingly to Europe, European candidacies for MD, even if professionally sound, give rise to very apparent if not very real conflicts of interest.
Without relief, Europe may end up with another deluge of asylum seekers, this time from Ukraine. Already, Russia's occupation of nine percent of Ukraine has displaced 1.4 million internally and continuing military incursions will result in the dislocation of millions more.
By Chris Miller, YaleGlobal, 27 August 2015 New East-West divide? An established welfare state like France, whose President François Hollande is see...
A shadowy yet powerful organization begins to exert pressure on King Theoden of Rohan to bend to its will -- yes, the wizard Saruman and his minions at Isengard, better known to us as the International Monetary Fund.
If there was one virtue that China projected, it was an economy that could handle like a BMW, and go from 0 to 7.5 percent growth in 3 months.
Despite the political discomfort many Arab countries may have with Iran's nuclear framework, there is an element of economic discomfort among oil-rich, Arab countries because they will compete with Iran as the fourth largest oil reserve in the world.
Investment in infrastructure projects are more than just a bright spot for the global south. It may actually encourage investment in real assets that would boost output back in the old "rich" countries -- a welcome monsoon rain amidst a sea of paper.
LONDON -- When push came to shove, Varoufakis faced the difficult choice of going along with more of the same, despite knowing that it would fail, or trying to pivot to a new approach. He bravely opted for the latter. While his brash style undermined outcomes, it would be a real tragedy to lose sight of his arguments (which have been made by many others as well).
Algeria is lately facing a dramatic setback to its ambitious plan to build a modern nation and economy with its large infrastructure investment program, like all countries that rely heavily on oil and gas.
It's no surprise that the powerful both set the rules and break the rules with impunity. The world system isn't presided over by Miss Manners. For small countries like Greece, there's not much room for maneuver between the regulations of the EU and the general parameters established by globalization. There isn't much room for democracy either, as Greek citizens discovered when they voted in Syriza and attempted to vote out austerity in the more recent referendum. Iran, a larger country that plays a strategic role in the Middle East, has considerably more room for maneuver than does Greece. But it too cannot unilaterally remake the rules of the game. It can only negotiate the best deal it can. In the end, it must open itself up to the kind of inspection regime that more powerful countries would never tolerate.
If you need proof of how the modern welfare state can miss the mark, just look at the rising level of social inequality in much of the developed world.
I'm traveling back to my country dominated by a feeling of sadness. There is no more depressing thing for someone than to see his nation be stagnated in misery and depression caused by the high unemployment rates and lack of any light of hope for a better future.