Download or read book 2017 External Sector Report Individual Economy Assessments written by International Working Group on External Debt Statistics and published by International Monetary Fund. This book was released on 2017-07-28 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: The external sector assessments use a wide range of methods, including the External Balance Assessment (EBA) developed by the IMF’s Research Department to estimate desired current account balances and real exchange rates (see IMF Working Paper WP/13/272 for a complete description of the EBA methodology and Annex I of the 2015 External Sector Report for a discussion of more recent refinements). In all cases, the overall assessment is based on the judgment of IMF staff drawing on the inputs provided by these model estimates and other analysis. Since estimates are subject to uncertainty, overall assessments are presented in ranges. The external sector assessments are based on data and IMF staff projections as of June 15th, 2017. The external assessments discuss a broad range of external indicators: the current account, the real effective exchange rate, capital and financial accounts flows and measures, FX intervention and reserves and the foreign asset or liability position.[1] The individual economy assessments are discussed with the respective authorities as a part of bilateral surveillance.

Download or read book 2017 External Sector Report written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2017-07-28 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global current account imbalances were broadly unchanged in 2016, with minor shifts adding to the reconfiguration under way since 2013. The fall in commodity prices, uneven cyclical recoveries in systemic economies, and differences in policy responses contributed to the rotation of imbalances. Current account surpluses of oil-exporting economies, as a group, shifted from large surpluses to small deficits, while deficits in emerging and developing economies narrowed markedly. At the same time, surpluses and deficits in key advanced economies widened. These trends were generally supported by real exchange rate movements. Overall excess current account imbalances (i.e., deficits or surpluses that deviate from desirable levels) represented about one-third of total global imbalances in 2016, remaining broadly unchanged since 2013, although increasingly concentrated in advanced economies. In particular, excess imbalances narrowed in emerging and developing economies, led by a smaller excess surplus in China and smaller excess deficits in others (Brazil, Indonesia, South Africa, Turkey). This narrowing, however, was accompanied by a widening of excess imbalances in some advanced economies. The persistence of large excess surpluses in several advanced economies (e.g. Germany, Korea, the Netherlands, Singapore, Sweden) remains a distinguishing feature of the constellation of imbalances, an issue that is explored in greater detail in this year’s report. Persistent global excess imbalances suggest that automatic adjustment mechanisms are weak. While the rotation of excess imbalances toward advanced economies—with deficits increasingly concentrated in the United States and United Kingdom—likely entails lower deficit-financing risks in the near term, the increased concentration of deficits in a few economies carries greater risks of disruptive trade policy actions. Diverging stock positions coupled with continued overreliance on demand from debtor countries could also pose risks to global growth and raise the likelihood of disruptive adjustments down the road. With nearly-closed output gaps in most systemic economies, addressing external imbalances in a growth-friendly fashion requires a recalibration of the policy mix in deficit and surplus economies alike. Excess deficit countries should move forward with fiscal consolidation, while gradually normalizing monetary policy in tandem with inflation developments. Excess surplus economies with fiscal space should reduce their reliance on easy monetary policy and allow for greater fiscal stimulus. Where monetary policy is constrained from playing a role, as in individual euro area members, fiscal and structural policies to facilitate relative price adjustments should take priority. Meanwhile, structural policies in excess surplus countries should focus on lifting distortions that constrain domestic demand or limit trade competition; while in excess deficit economies, policies should be directed to improving external competitiveness and overall saving. Protectionist and mercantilist policies should be avoided as they are detrimental to global growth.

Download or read book External Sector Report July 2018 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-07-23 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: The External Sector Report presents a methodologically consistent assessment of the exchange rates, current accounts, reserves, capital flows, and external balance sheets of the world’s largest economies. The 2018 edition includes an analytical assessment of how trade costs and related policy barriers drive excess global imbalances.

Download or read book Pilot External Sector Report written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-02-07 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Pilot External Sector Report (ESR) provides a multilaterally consistent analysis of the external positions of major world economies. Following the recommendations of the 2011 Triennial Surveillance Review and the Managing Director’s Statement on Strengthening Surveillance, the focus of the analysis has been broadened beyond exchange rates to detailed examinations of current accounts, reserves, capital flows, and external balance sheets. It draws upon the Research Department’s past and new methods for assessing current accounts and real exchange rates (see Appendix I), and on previous IMF analytical work on exchange rates, capital flows and measures, and reserves adequacy.

Download or read book External Sector Report July 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-07-17 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF’s 2019 External Sector Report shows that global current account balances stand at about 3 percent of global GDP. Of this, about 35–45 percent are now deemed excessive. Meanwhile, net credit and debtor positions are at historical peaks and about four times larger than in the early 1990s. Short-term financing risks from the current configuration of external imbalances are generally contained, as debtor positions are concentrated in reserve-currency-issuing advanced economies. An intensification of trade tensions or a disorderly Brexit outcome—with further repercussions for global growth and risk aversion—could, however, affect other economies that are highly dependent on foreign demand and external financing. With output near potential in most systemic economies, a well-calibrated macroeconomic and structural policy mix is necessary to support rebalancing. Recent trade policy actions are weighing on global trade flows, investment, and growth, including through confidence effects and the disruption of global supply chains, with no discernible impact on external imbalances thus far.

Download or read book External Sector Report 2022 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2022-08-04 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global current account balances—the overall size of current account deficits and surpluses—continued to widen in 2021 to 3.5 percent of world GDP, and are expected to widen again this year. The IMF’s multilateral approach suggests that global excess balances narrowed to 0.9 percent of world GDP in 2021 compared with 1.2 percent of world GDP in 2020. The pandemic has continued to affect economies’ current account balances unevenly through the travel and transportation sectors as well as a shift from services to goods consumption. Commodity prices recovered from the COVID-19 shock and started rising in 2021 with opposite effects on the external position of exporters and importers, a trend that the war in Ukraine is exacerbating in 2022. The medium-term outlook for global current account balances is a gradual narrowing as the impact of the pandemic fades away, commodity prices normalize, and fiscal consolidation in current account deficit economies progresses. However, this outlook is highly uncertain and subject to several risks. Policies to promote external rebalancing differ with positions and needs of individual economies.

Download or read book External Sector Report 2020 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2020-08-04 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: Produced since 2012, the IMF’s annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions, including current accounts, real exchange rates, external balance sheets, capital flows, and international reserves, of the world’s largest economies, representing over 90 percent of global GDP. Chapter 1 discusses the evolution of global external positions in 2019, external developments during the COVID-19 crisis, and policy priorities for responding to the crisis and for reducing excess imbalances over the medium term. Chapter 2 analyzes the relationship between the structure of external assets and liabilities—the components of the international investment position—and the risk of external stress events. It also assesses how heightened global risk aversion, as during the COVID-19 crisis, amplifies these risks. Chapter 3, “Individual Economy Assessments,” provides details on the different aspects of the overall external assessment and associated policy recommendations for 30 economies. This year’s report and associated external assessments are based on the latest vintage of the External Balance Assessment (EBA) methodology and on data and IMF staff projections as of July 15, 2020.

Download or read book External Sector Report July 2019 written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2019-07-17 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF’s 2019 External Sector Report shows that global current account balances stand at about 3 percent of global GDP. Of this, about 35–45 percent are now deemed excessive. Meanwhile, net credit and debtor positions are at historical peaks and about four times larger than in the early 1990s. Short-term financing risks from the current configuration of external imbalances are generally contained, as debtor positions are concentrated in reserve-currency-issuing advanced economies. An intensification of trade tensions or a disorderly Brexit outcome—with further repercussions for global growth and risk aversion—could, however, affect other economies that are highly dependent on foreign demand and external financing. With output near potential in most systemic economies, a well-calibrated macroeconomic and structural policy mix is necessary to support rebalancing. Recent trade policy actions are weighing on global trade flows, investment, and growth, including through confidence effects and the disruption of global supply chains, with no discernible impact on external imbalances thus far.

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Download or read book External Sector Report 2021 written by INTERNATIONAL MONETARY FUND. and published by International Monetary Fund. This book was released on 2021-08-02 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: Produced since 2012, the IMF’s annual External Sector Report analyzes global external developments and provides multilaterally consistent assessments of external positions, including current accounts, real exchange rates, external balance sheets, capital flows, and international reserves, of the world’s largest economies, representing over 90 percent of global GDP. Chapter 1 discusses the evolution of global external positions in 2020, external developments throughout the COVID-19 crisis, and policy priorities for reducing excess imbalances over the medium term. Chapter 2 analyzes how the unprecedented fiscal support provided in response to the COVID-19 crisis has affected external positions at the individual and global level. It also focuses on how withdrawal of such support will impact external positions in the medium term. Chapter 3, “Individual Economy Assessments,” provides details on the different aspects of the overall external assessment and associated policy recommendations for 30 economies. This year’s report and associated external assessments are based on the latest vintage of the External Balance Assessment (EBA) methodology and on data and IMF staff projections as of June 30, 2021.

Download or read book Information Economy Report 2017 written by United Nations Conference on Trade and Development (UNCTAD) and published by United Nations. This book was released on 2017-12-28 with total page 131 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Information Economy Report 2017 analyzes the evolving digital economy and its implications for trade and development. While these are still early days of the digital economy, it is already clear that it will have globally transformative impacts on the way we live, work and develop our economies. As the world strives to implement the 2030 Agenda for Sustainable Development, harnessing the power of information and communications technologies (ICTs) is essential. Large parts of the developing world remain disconnected from the Internet, and many people lack access to high-speed broadband connectivity. Policymaking at the national and international levels needs to mitigate the risk that digitalization could widen existing divides and create new gaps. Since increased reliance on digital technologies, such as cloud computing, three-dimensional printing, big data and “the Internet of things”, it is essential to start assessing opportunities and pitfalls alike, and to prepare for what is coming. The analysis contained in the report contributes to this process and proposes ways in which the international community can reduce inequality, enable the benefits of digitalization to reach all people and ensure that no one is left behind by the evolving digital economy.

Download or read book The External Balance Assessment EBA Methodology written by Mr.Steven Phillips and published by International Monetary Fund. This book was released on 2014-01-13 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.

Download or read book OECD Economic Outlook Volume 2017 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2017-12-19 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The Outlook puts forward a consistent set of projections for output, employment, prices, fiscal and current account balances.

Download or read book Macroeconomics for Professionals written by Leslie Lipschitz and published by Cambridge University Press. This book was released on 2019-01-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic activity and employment, keeping inflation low and risks of financial crises at bay, and navigating the ever-tighter linkages of globalization. Many professionals face demands to evaluate the implications of developments and policies for their business, financial, or public policy decisions. Macroeconomics for Professionals provides a concise, rigorous, yet intuitive framework for assessing a country's macroeconomic outlook and policies. Drawing on years of experience at the International Monetary Fund, Leslie Lipschitz and Susan Schadler have created an operating manual for professional applied economists and all those required to evaluate economic analysis.

Download or read book Health at a Glance 2017 OECD Indicators written by OECD and published by OECD Publishing. This book was released on 2017-11-10 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of Health at a Glance presents the most recent comparable data on the health status of populations and health system performance in OECD countries.

Download or read book International Monetary Fund Annual Report 2018 written by International Monetary Fund and published by International Monetary Fund. This book was released on 2018-10-02 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past year was one of growing economic anxiety tied to skepticism about both economic integration and an international approach to economic policy making. To help make globalization work for all, the IMF focused on providing policy advice in many macro-critical areas.

Download or read book International Monetary Fund Annual Report 2019 Financial Statements written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-10-04 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: The audited consolidated financial statements of the International Monetary Fund as of April 30, 2019 and 2018