Interview: Peter J. Montiel Professor of Economics at Wiliams College, Massachusetts, USA

Face à l’ampleur des retombées économiques et sociales des crises sanitaires, comme la Covid19, l’aide publique au développement peut jouer un rôle essentiel dans l’atténuation de l’impact des épidémies sur les économies les plus fragiles et vulnérables. L'aide publique au développement (APD) vise non seulement à combler le manque de capital nécessaire à amorcer une dynamique forte de développement, mais aussi à amorcer la capacité des Etats à répondre aux risques sanitaires et sécu ...

Illicit financial flows (IFFs) have become a serious threat to the attainment of global development goals. On February 28th, 2020, the President of the United Nations General Assembly, Tijjani Muhammad-Bande, and the President of ECOSOC, Mona Juul, have announced a high-level panel on international financial accountability, transparency, and integrity (FACTI) as a means to address this challenge, which inhibits financing for the Sustainable Development Goals. This paper provides an ...

The outbreak in China has already affected economic sectors in Latin America. Is there more to come? China’s economy has come to a sudden stop. Large parts of the country remain in shutdown mode after the end of the Lunar New Year holiday, with national passenger traffic declining by 85% on the Wednesday after the break compared to 2019.   Outside of China, the impact of the slowdown has already been felt, with companies like Apple and Land Rover warning of lower production, as pa ...

In the context of his role as chair of the T20 task force « Trade, Investment and Globalization », our senior fellow, Uri Dadush has led the T20 brief under the theme "World Trading System Under Stress: Scenarios for the Future", which has been published in Global Policy. The world trading system has been remarkably successful in many respects but is now under great strain. The causes are deep‐seated and require a strategic response. The future of the system depends critically on r ...

Emerging market and developing economies: Engine of the global economic growth despite some vulnerabilities1 After a long spell of slow growth post-crisis, the global economy’s recovery was mainly supported by the improvement of emerging markets and developing economies growth. However, this recovery is subject to wide-ranging uncertainties and is now in some danger. According to the IMF, the global economic growth is expected to fall to 3 % in 2019, the lowest level since 2008. Th ...

Following the global financial crisis of 2007-08, the International Monetary Fund (IMF) went through a period of self-examination. The old joke that its acronym stood for “It’s Mostly Fiscal” bothered some of its leaders, who believed the organization needed to focus less on austerity and more thoroughly consider issues such as inequality, poverty reduction and gender equality when making loans and other key decisions. There was talk of a “new IMF” that had learned from its old mist ...

Since the Fed’s July meeting, when the Fed Funds Rate had a 0.25% cut, fears about the impact of the US-China trade war on the global economy have escalated. The US yield curve inversion received much attention as a harbinger of a slowdown in the global and US economic outlooks. We approach here whether lights on next monetary policy events can be obtained from reading the minutes of the Fed’s meeting – and of the July meeting of the ECB governing council – released this week. The ...

Argentina’s peso tumbled and stocks plunged after last Sunday’s primary elections. The perception of a likely victory of President Macri’s opponents – Alberto Fernandez, and running mate, Christina Fernandez de Kirchner - has sparked a new shift in investor preferences away from peso assets, pressures on the exchange rate, and hikes on sovereign spreads. Unless fears of a return to policies prevailing before Macri are assuaged, the market rout tends to deepen as a negative feedback ...

Brazil's economic recovery after the deep 2015-16 recession has been the slowest on record, with GDP per capita last year remaining more than 9% below its pre-crisis peak (Chart 1, right side). The IMF's annual report on the country's economy, released two weeks ago, estimated current GDP to be nearly 4% below its potential level, which suggests insufficiency of aggregate demand (Chart 1, left side). On the other hand, as the slow recovery reflects structural factors, it is necessar ...

Multilateral Development Banks (MDBs) have two financing windows, with different terms, dedicated to low- and middle-income countries. Countries are presumed to cross those windows as their income per capita rises, with middle-income countries (MICs) eventually “graduating” to a non-client status once they reach some criteria. However, due to what may be called “middle-income traps”, such progression toward graduation has been limited to a small number of countries. ...