Productivity has been the driving force behind the five- sometimes six-day workweek, but there is a growing body of evidence that shows a shorter week is equally, if not more productive in many respects. Juliet Schor is a champion of the four-day week and led the charge in the early 90s with her book The Overworked American, which studies the pitfalls of choosing money over time. Schor is an economist and sociologist at Boston College and heads the research for global trials of companies instituting four-day workweeks. Journalist Rhoda Metcalfe spoke with Juliet Schor about her four-day week mission, as part of our special Women in Economics series.  Transcript: https://bit.ly/3SHgPRR

Behind any good policy stands good data. And as the global economy becomes increasingly digitalized, effective policy and regulation are critical to ensure a stable and equitable financial system. Jim Tebrake is Deputy Director and heads the data and methodology efforts in the IMF Statistics Department. In this podcast, Tebrake says the world of digital money is changing quickly and statisticians should be prepared to provide the data that policymakers need to respond effectively.  Transcript: https://bit.ly/3Su8pgA Check out the latest IMF Statistical Forum at IMF.org

Artificial intelligence has the power to transform society in so many ways, but only a small number of companies in an even smaller number of countries hold the keys to AI’s development. So what happens when a narrow swath of humanity makes choices that will impact everyone else? Stephanie Bell is a Senior Research Scientist at the Partnership for AI and led the creation of the Guidelines for Shared Prosperity. In this podcast, Bell says guidelines are needed to ensure AI’s development trajectory serves humanity. Transcript: https://bit.ly/3tFhdGY

Artificial intelligence is changing the way we work and for many it’s scary. But for teachers in India’s million-plus schools, AI is a welcome partner in solving the learning poverty problem. Shankar Maruwada is the Co-founder and CEO of EkStep Foundation, which develops AI to help improve the public education system. In this podcast, Maruwada and journalist Rhoda Metcalfe discuss how AI can close the literacy gap. Transcript: https://bit.ly/3RNAZJy Read  Unlocking India’s Potential With AI  in a special AI edition of Finance and Development Magazine at IMF.org/fandd

The pace at which artificial intelligence is transforming jobs is astounding, but while it boasts higher productivity AI is also increasing wage inequality. When workers are replaced by machines, real wages decline, and the owners of capital prosper. So who owns AI and how should its benefits be distributed? In this podcast, the IMFs Andrew Berg and Maryam Vaziri discuss AI’s inequality problem, the subject of their article in December’s special AI edition of Finance and Development magazine. Berg is Deputy Director, and Vaziri is an economist, both in the IMF Institute for Capacity Development.  Transcript: https://bit.ly/3NdgRxR

There’s no question that Artificial Intelligence will increase productivity- but at what cost? What happens when systems out-perform not only factory workers but society’s most esteemed professions? Daniel Susskind has written two thought-provoking books on how AI is changing the nature of work and what tomorrow’s labor market will look like. Susskind is a research professor at King's College London and a senior research associate at the Institute for Ethics in AI at Oxford University. In this podcast, Susskind speaks with journalist Rhoda Metcalfe about how encouraging technologies that complement rather than substitute human work would place fewer livelihoods at risk. Transcript: https://bit.ly/3T146Kj

Global warming is wreaking havoc on so many levels, but climate action is costly and presents policymakers with difficult tradeoffs. High debt, rising interest rates, and weaker growth prospects make public finances harder to balance and climate goals harder to achieve. This is where fiscal policy and climate mitigation meet and why the IMF Fiscal Affairs Department is trying to help countries manage their limited resources. Economists Christine Richmond and Raphael Lam work on climate policy and the annual publications of the IMF Fiscal Monitor. In this podcast, they say governments now face a policy trilemma between achieving climate goals, fiscal sustainability, and political feasibility.   Transcript: https://bit.ly/3sT6JmP

Carbon pricing is steadily emerging as one of the most viable solutions to reducing global emissions, but shedding its contentious past to build a global consensus is still a work in progress. Economist Ian Parry has championed the idea of carbon pricing long before it was fashionable- or even considered feasible by more than a handful of countries. Parry is the principal environmental fiscal policy expert in the IMF Fiscal Affairs Department and has made it his mission to present- on behalf of the institution, the benefits of incorporating climate risks into the cost of doing business through a carbon tax. Transcript: https://bit.ly/47jrAP7

Having access to nature can improve lives. Walking through the forest or by a lake occasionally is proven to have both physical and psychological benefits. But nature is a resource that is undervalued in our economies, and all too often left off the balance sheet. Catherine Kling says determining the true economic value of nature will help foster its preservation. Kling is an environmental economist at Cornell University in the Dyson School of Applied Economics and Management and has focused much of her career on creating the kind of data that encourages governments to include the value of nature in their economic decision-making. In this special episode of our Women in Economics series, Kling and Journalist Rhoda Metcalfe discuss why putting a price tag on nature will help save it. Transcript: https://bit.ly/3QHpRvZ

The world of money is changing fast and central banks are at the very center of that change. Shaktikanta Das is the Governor of the Reserve Bank of India, which is responsible for regulating currency and securing monetary stability for the world’s 5th largest economy. Das is also an innovator and a pioneer when it comes to Central Bank Digital Currencies or CBDCs. In this podcast, Das sits down with IMF Asia and Pacific Department head, Krishna Srinivasan, to discuss RBI’s strategy for today and for the future. The conversation took place as part of the Governor Talks series held during the Annual Meetings in Marrakech. Watch the webcast at IMF.org

Navigating an economy through multiple crises is not for the faint-hearted. Policy responses must be quick- often with little to go on, and decisions have lasting effects. Nigel Clarke has been Jamaica’s Minister of Finance since 2018 and led its economy through the pandemic as well as devastating natural disasters caused by climate change. In this podcast, Clarke sits down with IMF Western Hemisphere Department head, Rodrigo Valdés, to discuss Jamaica’s strong track record of investing in institutions and prioritizing macroeconomic stability. The conversation took place as part of the IMF’s Governor Talks series held during the Annual Meetings in Marrakech. Watch the Webcast at IMF.org

With the years of access to cheap money behind them and the effects of climate change and geopolitical tensions only getting worse, what does resilience look like for emerging market economies? This year’s Per Jacobbson lecture brings together three influential thinkers to discuss how countries can work towards economic resilience in an era of greater uncertainty. The talk features Lesetja Kganyago, Governor of the Reserve Bank of South Africa, Masood Ahmed, President of the Center for Global Development, and is moderated by Guillermo Ortiz, former Governor of the Bank of Mexico.

Millions of families around the world- even some countries, rely on workers living abroad to keep their economies afloat. In fact, global remittances reached a record $647 billion in 2022—three times that of official development assistance. Dilip Ratha is lead economist for migration and remittances at the World Bank. In this podcast, journalist Rhoda Metcalfe asks Ratha about his own experiences growing up in rural India and how they led him to become a leading voice on the power of remittances to reduce global poverty. Ratha says remittances are timely, large, stable, and best of all, they are countercyclical. Transcript: https://bit.ly/3QlDhyU Read Resilient Remittances at IMF.org/fandd

Most economies have shown resilience through the steepest series of rate hikes in decades. But inflation remains stubbornly high in some countries, which is proving a challenge for global monetary policy going forward. The latest Global Financial Stability Report (GFSR) examines all the worrying trends including the corporate world’s dwindling cash buffers and the risk of underinvesting in climate mitigation. Fabio Natalucci heads the GFSR. In this podcast, he says risks to the world economy remain high. Transcript: https://bit.ly/3Q8LjLn Read the full report at IMF.org/GFSR

International cooperation is weakening. The bridges that connect countries are corroding as trade and investment barriers are rising, and Africa stands to suffer the biggest economic losses from severe fragmentation. IMF Managing Director Kristalina Georgieva kicked off the 2023 Annual Meetings in Marrakech with her customary curtain raiser speech from Cote d’Ivoire. It’s the first time since 1973 that the Annual Meetings are held in Africa and Georgieva says it’s an opportunity to pave the way to the next 50 years. Transcript: https://bit.ly/3LRsJoC Go to IMF.org to follow the Annual Meetings and find all the IMF flagship reports, including the World Economic Outlook, the Global Financial Stability Report, and the Fiscal Monitor.

A functioning economy provides people with access to credit, insurance, and, among other things, investment opportunities. But what happens in poor communities where they are landless and have no wealth? Eliana La Ferrara says the social structure within those communities offers the collateral they need to make the economy work. La Ferrara is a Professor of Public Policy at Harvard Kennedy School and an award-winning economist whose work has helped us understand how the economics of the poor are deeply interwoven into the social fabric and norms of their communities. Journalist Rhoda Metcalfe sat down with La Ferrara to discuss her work in Africa, and how she came to focus on development issues that are often overlooked. The interview is part of the IMF series on extraordinary Women in Economics. Transcript: https://bit.ly/3ZwnH6k

Credit cards that offer rewards like travel discounts seem a good idea, but rewards cards can be costly for anyone who keeps a running balance. So should there be rules around who gets one? IMF economist Andrea Presbitero is coauthor of a study that looks at the distributional impact of rewards cards. In this podcast, Presbitero says while the high interest rates and penalties associated with these cards can widen wealth inequality, limiting access is not the answer. Transcript: https://bit.ly/3r5fzwY

Abdellatif Jouahri est le gouverneur de Banque Al-Maghrib depuis 2003 et l'homme derrière les grandes réformes qui ont fait du Maroc l'une des économies les plus importantes de la région du Moyen-Orient et de l'Afrique du Nord (MENA). Dans cet épisode, Jouahri s'entretient avec Taline Koranchelian, directrice adjointe du Département Moyen-Orient et Asie centrale du FMI pour évoquer sa longue et éminente carrière. Leur conversation a eu lieu à la veille des Assemblées Annuelles 2023 qui se tiendront au Maroc en octobre.

The dramatic opening up of markets to international trade over the past 30 years has been a boon to many developing economies but it has not benefitted everyone. Nina Pavcnik grew up in Yugoslavia and witnessed firsthand the effects of open markets on the lives of people across the border. Pavcnik is now Professor of Economics and International Studies at Dartmouth College and has become an authority on how international trade affects the poor. In this podcast, Journalist Rhoda Metcalfe sits down with Pavcnik to talk about her research as part of our series on extraordinary Women in Economics. Transcript: https://bit.ly/3YFlMMg

While import prices account for much of Europe’s inflation, its outlook largely depends on how companies absorb wage gains as higher prices erode workers’ purchasing power. IMF economist Frederik Toscani studies inflation and monetary policy in the Euro Area and is coauthor of a new paper that breaks inflation down into labor costs, import costs, taxes, and profits. In this podcast, Toscani says corporate profits account for 45 percent of price rises since the start of 2022.  Transcript: https://bit.ly/454o3Tk

Nigeria’s eNaira was the first Central Bank Digital Currency in Africa and only the second in the world when it launched in October 2021, but a growing number of countries across the globe are now planning to follow suit with their own CBDCs. What can they learn from Nigeria’s experience? Jookyung Ree is an economist in the IMF African Department and assigned to Nigeria when the CBDC was introduced. Ree has since studied its impact on the economy and found that existing mobile money networks are proving a challenge to the eNaira’s adoptability. In this podcast, Ree says the eNaira will need to complement mobile money systems to convince more Nigerians to use it.   Transcript: https://bit.ly/3Qb2FI5

Since their inception in 2008, the contentious rise of crypto assets has been dramatic. Their market value has been as high as $3 trillion and about $50 million is transacted in crypto every day. But what does this brave new world of cryptographically-protected distributed ledgers mean for traditional tax systems? Ruud De Mooij is Deputy Director of the IMF Fiscal Affairs Department and heads its work on taxation. In this podcast, De Mooij says finding ways to tax crypto will mean significant revenue gains for governments and lead to a fairer global tax system.  Transcript: https://bit.ly/3O1Hwyt Read the blog and IMF.org/blogs

The passage of the Inflation Reduction Act in the United States unleashed its largest investment in climate and energy ever. But it also left many countries questioning some of its protectionist provisions, accusing the US of bending, if not breaking international trade rules under the WTO. So how do we move forward on climate without going backward on trade? Noah Kaufman says international trade rules need to be redesigned if protectionism is not to become an unintended consequence of green industrial policy. Kaufman is a senior research scholar at Columbia University's Center on Global Energy Policy and served in the Biden Administration’s Council of Economic Advisors.  Transcript: https://bit.ly/3CwHIiw

The history of economics has largely been written by men about men. Even when the economics of family became a burgeoning field of study in the 1970s, the woman’s role was hardly talked about. Claudia Goldin is a pioneer in the field of gender economics and her latest book Career and Family places women squarely at the center of the family economics story. Goldin is the Henry Lee Professor of Economics at Harvard University and an economic historian. Journalist Rhoda Metcalfe sat down with Claudia Goldin to discuss her work and how she came to write the definitive book on gender economics Understanding the Gender Gap. The interview is part of the IMF series on extraordinary Women in Economics. Transcript: https://bit.ly/3oYUEdO

As rising geopolitical tensions chip away at globalization, will a more fragmented world mean stronger regional pacts? Economist Michele Ruta says regionalism in a time of conflict is unlikely to triumph, but rather is likely to change. The trend toward strengthening ties with friends and loosening them with non-friends is making regional trade less about integration and more about discrimination.    Transcript: https://bit.ly/3MHNbIc

Like so many countries across the Middle East and North Africa, Morocco faced successive shocks over the past three years including a devastating drought. But the country managed well thanks to an aggressive reform agenda. In this podcast, Morocco’s Finance Minister Nadia Fettah, and IMF Regional Director Jihad Azour, discuss how Morocco is keeping reforms on track despite the challenging circumstances, and what lessons other countries in the region might learn from Morocco’s experience. Their conversation was part of the Governor Talks series hosted by the IMF during the IMF-World Bank Spring Meetings, and a preamble to the Annual Meetings to be held in Marrakesh this fall. Watch the webcast at IMF.org

Industrial policy refers to a set of policies that governments use to bolster national industries or companies deemed strategically important for economic competitiveness, social outcomes, or national security. The approach has been used in many countries to create global giants like Huawei, General Electric, Volkswagen, and Airbus to name a few. Economist Ruchir Agarwal is currently studying industrial policy, among other things, at the Yale School of Management and Harvard Kennedy School. In this podcast, Agarwal says while the practice of choosing national champions fell out of favor in the 1980s, rising geopolitical tensions of late have sparked a renewed interest in industrial policy, which can be a guise for protectionism.   Transcript: https://bit.ly/3oxgswS

Agricultural productivity in Africa has lagged behind for decades, and now climate change is making things worse. But for Hamza Rkha Chaham, the prospect of helping African farmers increase crop yields prompted him to launch a startup that is transforming lives. Chaham was only 27 years old in 2018 when he co-founded SOWIT, a company that uses processed satellite imagery to provide farmers with invaluable data to optimize decisions related to irrigation and fertilization. In this podcast, he says startups in Africa can be challenging on many levels, but the rewards far outweigh the risks.  Transcript: https://bit.ly/3NZcRSG

The Democratic Republic of the Congo faces many challenges to its development, but the country’s natural wealth has the potential to lift more people out of poverty and help the world make the transition to renewable energy.  In this podcast, IMF African Department head Abebe Aemro Selassie sits down with DRC’s Minister of Finance, Nicolas Kazadi to discuss the country’s pivotal role in the fight for climate preservation and sustainable development. Their conversation took place as part of the Governor Talks series hosted by the IMF during the IMF-World Bank Spring Meetings.

Economists often share a common understanding of the world based on their training and what they’ve learned from other like-minded professionals. In this podcast, author and Financial Times journalist, Gillian Tett says anthropology offers insights into public policy challenges and helps economists better understand socioeconomic problems.  IMF Deputy Secretary, Sabina Bhatia, sits down with Gillian Tett to discuss her recent book Anthro-Vision, a New Way to See in Business and in Life. The conversation took place before a live audience during the IMF and World Bank Group Spring Meetings. Watch the webcast at IMF.org.

Financial stability never comes easy, but the past few months have been especially challenging with persistently high inflation and two bank failures in the United States that exposed vulnerabilities lurking beneath the surface. The latest Global Financial Stability Report (GFSR) examines all the worrying trends including the potential economic impact of rising geopolitical tensions. Fabio Natalucci heads the GFSR. In this podcast, he says while regulatory changes put in place after the Global Financial Crisis have made the financial system more resilient, recent events may be a harbinger of more systemic stress to come. Transcript: https://bit.ly/41zCPQv Read the full report at IMF.org/GFSR

Financial stability is not only about managing inflation, employment rates and spending, it’s about understanding how those factors affect people in different places and in all kinds of circumstances. In this podcast, the United Nations High Commissioner for Refugees, Filippo Grandi, discusses how strategic partnerships between humanitarians and economists will help support the millions of forcefully displaced people in the world and provide a firmer footing for an economic recovery. Transcript: https://bit.ly/3Mnnq13

As global economic uncertainty surges, Sub-Saharan Africa faces a host of challenges that will require effective policy responses if it is to regain the ground it lost during the pandemic. But what does it take to design and implement successful policy reforms? In this podcast, IMF African Department head Abebe Aemro Selassie and Georgetown University’s Ken Opalo discuss why some reforms work and others do not. This conversation is part of a series of talks hosted by the IMF African Department called Africa Perspectives. Watch the webcast: www.imf.org/en/News/Seminars/Conferences/2022/06/10/africa-speaker-series#

The last few months have witnessed tensions in Europe's housing markets as the cost-of-living crisis has eroded real incomes and the surge in interest rates has made borrowers more vulnerable to financial distress. Laura Valderrama is a macro-financial expert and coauthor of new research that suggests house prices across Europe are overvalued, and housing markets are at risk of a price correction that could undermine the region's economic recovery.   Transcript: https://bit.ly/42Dm33U Read the research paper at: https://www.imf.org/en/Publications/WP  

While the currency values of today’s economic powerhouses help maintain global financial stability, the currency systems in the 19th century were tied to precious metals and France played the stabilizing role. In the early 1800s, most countries tied their currencies to silver or gold, but Napoleon tied the French franc to both, which sparked the era of global bimetallism. IMF economist Johannes Wiegand has studied bimetallism, and in this podcast, he says this almost-forgotten 19th-century episode shows that international cooperation is essential for a stable global monetary system.  Transcript: https://bit.ly/41CunjU Read the article at IMF.org/fandd

The longtime critics of globalization are having another moment, claiming supply chain shortages, high inflation, and increasing migration are products of an overly globalized world. But history suggests more globalization- not less, can help counter those disruptions in the global economy. Harold James is a professor of history and international relations at Princeton University and an IMF historian. In this podcast, James says globalization offers an antidote to inflationary pressures.  Transcript: https://bit.ly/3m5mB1J Look for In Defense of Globalization in the March issue of Finance and Development: IMF.org/fandd

Alan S. Blinder, former Fed vice chair and one of the world’s most influential economists has had a front-row seat to the changes in central banking over the past several decades. Blinder is also a former member of the President’s Council of Economic Advisors, and in his latest book, A Monetary and Fiscal History of the United States, 1961-2021, he recounts the conflicts and collaborations in fiscal and monetary policy that have shaped the United States economy. Blinder was invited to the IMF Research Department to discuss his book. Transcript: https://bit.ly/3xtYUTq

China’s severe covid lockdowns since the start of the pandemic undoubtedly contributed to an economic downturn last year not seen in decades. And while China has lifted the containment measures and is reopening, the factors behind that slowdown, like its ailing property sector, low productivity growth, and the lingering COVID threat, could weigh on its economic performance this year if left unaddressed. In this podcast, IMF economists Sonali Jain-Chandra and Thomas Helbling walk us through China’s latest economic review, a deep analysis of China’s economy that includes outlooks, risk assessments, and policy recommendations. Transcript: https://bit.ly/3HpduA8 Read the full report at IMF.org

The IMF’s Resilience and Sustainability Trust (RST) helps low-income and vulnerable middle-income countries build resilience to external shocks and ensure sustainable growth, contributing to their longer-term balance of payments stability. It complements the IMF’s existing lending toolkit by providing longer-term, affordable financing to address longer-term challenges, including climate change and pandemic preparedness. In this podcast, IMF Managing Director Kristalina Georgieva discusses the RST with Prime Minister Mia Motley of Barbados, Rwanda’s President Paul Kagame, WTO Director-General Ngozi Okonjo-Iweala, and Makhtar Diop, Managing Director of the International Finance Corporation. The discussion is moderated by Rajiv Shah, President of the Rockefeller Foundation. Watch the webcast at IMF.org

Most countries have infrastructure and governance structures that allow the private sector to take advantage of new technologies to innovate and improve payment and financial services. But at the international level, it’s a different story. Cross-border payments are as slow, expensive, and risky as ever. IMF Financial Counsellor, Tobias Adrian, and coauthors published some new research on creating a Multi-Currency Exchange and Contracting Platform that would effectively transform the cross-border payment system. In this podcast, Adrian says payments are the foundation for the entire monetary and financial system, and new technologies can help get global payments right. Transcript: https://bit.ly/3D1RKJ7 Read the research at IMF.org

Innovation is often associated with developments in information and communication technologies, but for economists, innovation is also about developing new business models and new ways for governments to deliver public services like health and education. Michael Kremer is a professor of economics at the University of Chicago and the founder of the Development Innovation Lab. His work on poverty reduction with colleagues Esther Duflo and Abhijit Banerjee won them the Nobel Prize in economics in 2019. In the early 2000s, Kremer helped develop the design of Advance Market Commitment models used to incentivize the private sector to work on issues of relevance for the developing world. Michael Kremer was invited to deliver the IMF Richard Goode Lecture, an annual event to discuss policy issues and debates. In his talk, Kremer says commercial incentives for innovation are not always aligned with social needs, which results in underinvestment in some types of innovation and creates a role for public investment. Transcript: https://bit.ly/3ka1daT

We often think about the economy as being driven by how productive we are on the job, but the pandemic made it clear that our personal lives and our work lives are in fact deeply linked. Betsey Stevenson is a labor economist who studies how families are shaped by their economic situations and the decisions that policymakers make. Stevenson is a professor at the University of Michigan and a former economic advisor to the Obama administration. Journalist Rhoda Metcalfe spoke with Betsey Stevenson about her research into the powerful connections between our work and home life for the IMF series on extraordinary Women in Economics. Transcript: https://bit.ly/3X7ihML 

More than half of the world’s population lives in cities, and it’s expected that almost 70 percent will live in urban areas by 2050. People are attracted to cities for the economic and social opportunities they offer. But if the COVID pandemic taught us anything, it’s that population density presents significant health risks. David Cutler is a Professor of Economics at Harvard University’s Kennedy School of Government and the Chan School of Public Health. Cutler and his Harvard colleague Edward Glaeser write about Cities After the Pandemic in the December issue of Finance and Development. In this podcast, David Cutler discusses the article with journalist Rhoda Metcalfe. He says cities now need to put more emphasis on public health to keep economies healthy.   Transcript: https://bit.ly/3UHR6X6 Read at IMF.org/FandD

After decades of being shrouded in suspicion and controversy, nuclear energy is emerging as a viable clean alternative to oil and gas. The war in Ukraine has turned post-pandemic energy shortages into a full-blown energy crisis and nuclear power plants across Europe that were destined to close will continue to operate. Ted Nordhaus is the Executive Director of the Breakthrough Institute, which looks for technological solutions to environmental problems. Nordhaus and coauthor Juzel Lloyd published an article titled The Nuclear Resurgence, in the December edition of Finance and Development. In this podcast. Nordhaus discusses the benefits of nuclear energy with Journalist Rhoda Metcalfe.  Transcript: https://bit.ly/3Uq4yim Read The Nuclear Resurgence at IMF.org/FandD  

Events of the last three years have made life difficult on many levels for millions of people around the world. And while expecting more support from social and financial institutions during hard times is nothing new, the recent rise in prices has left people angry and questioning the efficacy of the social contract between the government and its citizenry. Justin Wolfers is a Professor of Economics and Social Policy at the University of Michigan. In this podcast, he says there has never been a better time to reinvent- for the first time in decades perhaps centuries, the institutions that foster social cohesion. Transcript: http://bit.ly/3XKUNy7

Economic progress improves lives, but it can also clash with some of the bigger development problems we face, like gender equality and the environment. Seema Jayachandran believes striking that balance is key to making economic development work for everyone. Jayachandran’s research has helped change gender attitudes in India’s schools, and conserve climate-critical forests in Uganda. Seema Jayachandran is a Professor of Economics and Public Affairs at Princeton University and serves on the board of directors of the Abdul Latif Jameel Poverty Action Lab. In this podcast, Jayachandran talks about her work with journalist Rhoda Metcalfe as part of a special IMF series on extraordinary Women in Economics. Transcript: http://bit.ly/3tW9Wz4

Inflation is high virtually everywhere, but what’s pushing prices to record levels in Europe is not necessarily what’s fueling inflation in the United States. The European Central Bank and the Federal Reserve share a common problem and similar financial tools to fight it, but Europe’s supply-dominated inflation and America’s mostly demand-dominated inflation require slightly different approaches. Philip Lane is Chief Economist for the European Central Bank. In this podcast, he says finding the “sweet spot” between fiscal and monetary policies will allow for continued support to vulnerable Europeans hard hit by high energy prices and double-digit inflation, while not further straining public finances. Transcript: http://bit.ly/3X55sU2 Philip Lane participated in the IMF’s Jacques Polak Annual Research Conference. Watch the Webcast at IMF.org

Economic outlooks don’t come easy in the current environment but the latest Regional Economic Outlook for sub-Saharan Africa proved to be particularly challenging. Its title Living on the Edge tells part of the story but in this podcast, economist Wenjie Chen walks us through the research behind the new report. Chen is a deputy head in the Regional Studies Division and part of the team of macroeconomists who dissect regional trends to come up with key priorities for policymakers. Transcript: https://bit.ly/3U6lUBy Read the report at IMF.org

Cryptocurrencies have grabbed news headlines with their dramatic highs and lows, and their proponents argue they could revolutionize the financial system, making it faster and fairer. But is the cryptocurrency craze dragging us all into dangerous waters? Hilary Allen is a professor of law at American University and studies the impact of new financial technologies on financial stability. Allen is also the author of The Superficial Allure of Crypto published in the September edition of Finance and Development. In this podcast, Allen sits down with journalist Rhoda Metcalfe to discuss the risks associated with cryptocurrencies and why she thinks that they simply cannot deliver their claimed benefits. Transcript: https://bit.ly/3eJTuOh Read The Superficial Allure of Crypto at IMF.org/FandD

Amid growing calls to deglobalize the economy, Raghuram Rajan says not so fast. Rajan, a former Governor of the Bank of India and former IMF Chief Economist, delivered this year's Per Jacobsson Lecture, in which he argues that continued globalization is our best chance to tackle climate change. Transcript: https://bit.ly/3EVhCIC Watch the webcast of the Per Jacobsson Lecture at IMF.org

Rising risks to the inflation outlook and rapidly changing views about the likely pace of monetary policy tightening have been dominant themes affecting financial stability. The latest Global Financial Stability Report (GFSR) says the Russian invasion of Ukraine has also exerted a material drag on the global recovery from the pandemic and increased financial vulnerabilities. Fabio Natalucci heads the GFSR and Global Financial Markets Monitoring. In this podcast, he says with inflation now at a multi-decade high and tightening financial conditions, it will take time for investors and policymakers to adjust to the new world. Transcript: https://bit.ly/3Ml5h21 Read the full report at IMF.org/GFSR Read the blog at blogs.imf.org

With shock upon shock hitting the world economy in the last three years, IMF Managing Director Kristalina Georgieva's customary opening speech to the Annual Meetings warned of a darker global outlook and emphasized the need for the world to come together to deal with the consequences. The speech was delivered to an audience of students at Georgetown University's School of Foreign Service and presided over by Dean Joel S. Hellman and Georgetown University President John J. DeGioia. Transcript: https://bit.ly/3MgciB9

How can multilateral institutions like the IMF help close the gender gap? IMF Senior Advisor on Gender, Dr. Ratna Sahay joins Jason Mitchell, Head of Responsible Investment Research at Man Group, on their A Sustainable Future podcast to talk about how gender disparities hurt economic growth. Dr. Sahay has been a gender equality pioneer over the years- helping to break down barriers within her own institution. She now heads the IMF's first strategy toward mainstreaming gender into its core work. Transcript: https://bit.ly/3dNaCm1 Go to  man.com/ri-podcast  to see more episodes of A Sustainable Future with Jason Mitchell.    

The Michel Camdessus Central Banking Lecture is an annual event honoring the IMF's longest-serving Managing Director. This year's lecture was presented by François Villeroy de Galhau, Governor of the Banque De France, and introduced by IMF Managing Director Kristalina Georgieva. In his lecture, Governor de Galhau says today's multiple crises are challenging public trust in central banks.  Transcript: https://bit.ly/3Sna8Bx Go to IMF.org to watch the webcast of the entire event including a post-lecture discussion.

While consumers' expectations of where prices are going are something that economists have been tracking for a long time, understanding how those expectations are formed provides valuable insight toward controlling inflation. New research by economists Carlo Pizzinelli (IMF), Peter Andre (Briq Institute), Christopher Roth (University of Cologne), and Johannes Wohlfart (University of Copenhagen) shows a surprising divide between what experts think and consumers believe drives inflation and other economic trends. Carlo Pizzinelli is the author of an article in the latest Finance and Development based on the study. In this podcast, Pizzinelli sits down with Journalist Rhoda Metcalfe to discuss how the collective consumer mind influences economic policy. Transcript: https://bit.ly/3RMPYAv Read the study: https://bit.ly/3RrXmlb  

Welcome to the 5th and final episode of Fintech Forward, the IMF podcast that focuses on financial technology. Hosted by IMF economist Tara Iyer, the special 5-part series draws from the expertise of the IMF Monetary and Capital Markets Department (MCM) to better understand the impact of emerging technologies on financial systems and local economies around the world. In this podcast, MCM's May Khamis talks about how the IMF's Financial Stability Assessment Programs, which started in the early 2000s, are adapting to the rapid rise of FinTech.  Transcript: https://bit.ly/3wJ9HZM

Sanctions are not new, but they deliver bigger global shocks and are easier to avoid than at any time in history. Nicholas Mulder's latest book, The Economic Weapon, the Rise of Sanctions as a Tool of Modern War, looks at sanctions regimes of the past to better understand the implications of today's sweeping sanctions against Russia. In this podcast, Mulder says we need to think more carefully about crafting macroeconomic policy at a global level to offset the negative effects that the sanctions are having on third countries.  Transcript: https://bit.ly/3wBUZnq Read Nick Mulder's article in Finance and Development at IMF.org/fandd

Welcome to episode 4 of Fintech Forward, the IMF podcast that focuses on financial technology. Hosted by IMF economist Tara Iyer, the special 5-part series draws from the expertise of the IMF Monetary and Capital Markets Department (MCM) to better understand the impact of emerging technologies on financial systems and local economies around the world. In this podcast, MCM's Aditya Narain and Marina Moretti say regulation of financial technology aims to protect consumers and markets, not stifle innovation.  Transcript: https://bit.ly/3wkEMCY

Economic growth depends on several factors, but a new study (forthcoming) by Eric Hanushek and Ludger Woessmann shows nothing is more important for development than equitable education. Hanushek is a senior fellow at the Hoover Institution at Stanford University, and in this podcast, he says skill differences account for three-quarters of cross-country variations in long-term growth. Hanushek also says the global skills deficit is immense, with two-thirds or more of the world’s youth never reaching even basic skill levels. Hanushek and Woessmann are coauthors of The Basic Skills Gap published in Finance and Development where they say reaching the goal of global universal basic skills would raise future world GDP by $700 trillion over the remainder of the century. Transcript: https://bit.ly/3AqSxCE Read the article at IMF.org/fandd

Mahatma Gandhi once said, "Live simply so that others may simply live.” In this podcast, we hear from an economist who believes there is more to poverty reduction than just money. Sabina Alkire began her long career helping the poor doing volunteer work alongside the likes of Mother Teresa- then studying theology before turning to economics. Today, Alkire heads the Oxford Poverty and Human Development Initiative (OPHI) and is one of the creators of the Multidimensional Poverty Index (MPI), which the United Nations uses to identify and help the most vulnerable people in the world. Journalist, Rhoda Metcalfe spoke with Sabina Alkire to discuss her work for our special series on extraordinary Women in Economics. Transcript: https://bit.ly/3bWv56W

Welcome to episode 3 of Fintech Forward, the IMF podcast that focuses on financial technology. Hosted by IMF economist Tara Iyer, this special 5-part series draws from the expertise of the IMF Monetary and Capital Markets Department (MCM) to better understand the impact of emerging technologies on financial systems and local economies around the world. In this podcast, Fabio Natalucci, Head of the Global Financial Stability Report, discusses the growing correlation between crypto and equity markets and what that means for financial stability. Transcript: https://bit.ly/3zJn2lO

Inflation has pushed up prices for almost everything, but rising food prices could mean life or death for people in countries already struggling with conflict, economic downturns, and the effects of climate change. Maximo Torero Cullen is Chief Economist for the UN's Food and Agriculture Organization, which tracks global food security. In this podcast, Torero says wheat and fertilizer supply shortages have driven up prices and increased food import bills for the most vulnerable countries by more than 25 billion dollars, putting 1.7 billion people at risk of going hungry. Transcript: https://bit.ly/3vlHUht

Welcome to episode 2 of Fintech Forward, a new IMF podcast series with a focus on financial technology. Hosted by IMF economist Tara Iyer, Fintech Forward draws from the expertise of the IMF Monetary and Capital Markets Department (MCM) to better understand the impact of emerging technologies on financial systems and local economies around the world. In this podcast, MCM Deputy Director, Dong He, discusses how central bank digital currencies (CBDC) are set to transform the global monetary system. Transcript: https://bit.ly/3v2T8rb

The energy crises of the early 70s, the 80s, and the early 2000s all had their challenges, but none were so intertwined with other emergencies like a war in Europe, climate change, and a global pandemic. Daniel Yergin won the Pulitzer Prize and many other accolades for his writing on the political economy of global energy. His latest book The New Map: Energy, Climate and the Clash of Nations looks at where today's energy markets are headed and the geopolitics of an energy transition from hydrocarbons to renewable energy. In this podcast, Yergin says renewables use a lot more minerals than people realize and will move us from the world of big oil to a world of big shovels. Transcript: https://bit.ly/3uMI4OO Daniel Yergin is Vice Chairman of S&P Global.

Albert Einstein once said, "In the midst of every crisis, lies great opportunity." But while the war in Ukraine has sparked crises on several fronts, the opportunities are not all that obvious at this point. Historians can help connect those lines by looking back at how we emerged from history's darkest hours. Patricia Clavin is Professor of Modern History at Oxford University. In this podcast, journalist Rhoda Metcalfe asks Clavin what the geopolitical fallout from the war might mean for globalization. Transcript: https://bit.ly/3RdufCi Read Patricia Clavin's article Turbulence and the Lessons of History in the June issue of Finance and Development. IMF.org/FandD

While international financial institutions work with policymakers to help countries navigate their way through the myriad of disruptions in the global economy of late, the private sector plays a critical role in catalyzing investment that will help bring long-term solutions. In this podcast, Alphabet and Google Chief Financial Officer Ruth Porat and IMF First Deputy Managing Director Gita Gopinath discuss the growing number of challenges facing the global economy and the opportunities where the private sector can help. Transcript: https://bit.ly/39X0g0S  

The war in Ukraine and the rise of emerging market economies have opened a new chapter in international relations, with important implications for the global economic order. Like an earthquake, the war has an epicenter, located in Russia and Ukraine, but its seismic waves are impacting economies far and wide and revealing a shift in the underlying geopolitical tectonic plates. In this podcast, IMF Chief Economist, Pierre-Olivier Gourinchas discusses what fragmentation of the global economy might mean for the dominance of the US dollar in the international monetary and financial system.  Transcript: https://bit.ly/3N4ZOei Read the article at IMF.org/fandd

Welcome to Fintech Forward, a new IMF podcast series with a focus on financial technology. Fintech has grown exponentially in recent years and prompted a paradigm shift in virtually all areas of finance, with significant implications for financial stability. Fintech Forward, hosted by IMF economist Tara Iyer, will draw from the expertise of the IMF Monetary and Capital Markets Department to better understand the impact of emerging technologies on financial systems and local economies around the world. In this first episode, Tobias Adrian, Director of the IMF's Monetary and Capital Markets Department, says fintech is causing nothing less than a revolution in the global financial system. Transcript: https://bit.ly/3aQSqWH

When women begin to participate more in the economy, good things happen. There's more growth, less inequality, and greater financial stability. So, why is women's labor force participation still so low in so many countries? Katharine Christopherson is an Assistant General Counsel in the IMF legal Department and coauthor of some new research that looks at the legal impediments to women’s economic activity across the globe. In this podcast, journalist Rhoda Metcalfe and Katharine Christopherson discuss the outdated laws that hold women back and what drives countries to reform them. Transcript: https://bit.ly/3xbEO0P

Most of the goods we purchase travel across the oceans in steel containers aboard the largest ships ever to sail the seas. But the pandemic and ensuing lockdowns knocked the wind from their sails and disrupted the entire global shipping network, causing supply shortages and soaring shipping costs. IMF economist Yan Carrière-Swallow has studied the macroeconomic impact of shocks to ocean freight, and in this podcast, he says shipping costs are an important driver of inflation around the world.  Transcript: https://bit.ly/3GjIdxD Yan Carrière-Swallow is coauthor along with Pragyan Deb, Davide Furceri, Daniel Jimenez, and Jonathan Ostry, of Shipping Costs and Inflation available at IMF.org.

Economies grow better when they are more equal, and taxation is a powerful tool to help reduce inequalities. But increasingly, the international tax system is doing the opposite of that by allowing corporations and the world's wealthiest people to avoid paying their fair share. The Tax Justice Network estimates the combined global revenue losses from cross-border tax abuse by people with undeclared offshore assets and of multinational companies amount to some $483 billion a year. Alex Cobham is Chief Executive of the Tax Justice Network, and in this podcast, he speaks with journalist Rhoda Metcalfe about his article Taxing for a New Social Contract in Finance and Development. Transcript: https://bit.ly/3sG6rMI Read the article at IMF.org/fandd

Fragility and conflict have forced hundreds of millions of people to live outside of state control without access to basic services. And with violent conflict on the rise, two-thirds of the world's poorest could soon be living in fragile and conflict affected states. The International Committee of the Red Cross is one of the world's most important providers of humanitarian assistance and works at the front line of most conflicts across the globe. In this podcast, ICRC President, Peter Maurer discusses the importance of including the expertise of economists in their humanitarian work and the significance of the IMF's new strategy to strengthen its support to fragile and conflict affected states. Transcript: https://bit.ly/3P8coMh

Becoming an economist in the 1970s- for a woman, was a lonely road. When Clair Brown joined the Department of Economics at UC Berkeley in 1974 alongside people like Nobel laureate George Akerlof, she was the only female faculty member. But thanks to Brown's prodding, the department hired more women and Berkeley has since become well known for its female economists. Brown has always seen the power of diversity in her work. In 2013 she helped create a new graduate program called Development Engineering that teams engineers with economists to develop technologies that benefit developing regions. Today, she's advocating for a new, more sustainable approach to economic thinking in her book, Buddhist Economics. Journalist, Rhoda Metcalfe spoke with Clair Brown for our special series on extraordinary Women in Economics.                                Transcript: https://bit.ly/388DzG3 Book: http://buddhisteconomics.net/

La reprise économique en Afrique subsaharienne a surpris à la hausse au second semestre 2021, mais ces progrès ont été compromis cette année par l'invasion russe de l'Ukraine. La guerre a déclenché un choc économique mondial qui frappe la région à un moment où la capacité de réaction des pays est minime, voire inexistante. Papa N'Diaye dirige l'équipe qui produit les Perspectives économiques régionales pour l'Afrique subsaharienne. Dans ce podcast, il affirme que la croissance a de nouveau ralenti et ne suffira pas à rattraper le terrain perdu.

The economic recovery in sub-Saharan Africa surprised on the upside in the second half of 2021, but that progress has been jeopardized this year by the Russian invasion of Ukraine. The war has triggered a global economic shock that is hitting the region at a time when countries’ ability to respond is minimal to nonexistent. Papa N’Diaye leads the team that produces the Regional Economic Outlook for sub-Saharan Africa. In this podcast, he says growth has slowed once again and will not be enough to make up for lost ground. Transcript: https://bit.ly/3OIo6N8 Read the report at IMF.org

The war in Ukraine has sparked one of the biggest refugee crises of modern times. So, can Europe afford to accommodate the millions of people coming across its borders? Giovanni Peri says while a crisis of this scale will imply significant upfront costs, the European Union is doing right by investing in the human capital of refugees. Peri heads the Global Migration Center at UC Davis, and in this podcast, he says Ukrainian migrants are an opportunity for many European countries that are experiencing aging populations and labor shortages.  Transcript: https://bit.ly/3jY7cMn  

While financial stability risks have risen on several fronts since the beginning of the war in Ukraine, the latest Global Financial Stability Report (GFSR) says no global systemic event affecting financial institutions or markets has materialized so far. Fabio Natalucci heads the GFSR as well as IMF Global Financial Markets Monitoring. In this podcast, he says stronger banking systems, higher capital and higher liquidity have helped to absorb the shock, but an intensification of the war could further test the resilience of the global financial system. Transcript: https://bit.ly/36qyl7D Read the full report at IMF.org/GFSR Read the blog at blogs.imf.org

Just as many countries were beginning to feel the grip of the pandemic start to ease, another global calamity is threatening the recovery. In her customary curtain-raiser speech to the IMF-World Bank Spring Meetings, IMF Managing Director Kristalina Georgieva said the war in Ukraine has disrupted millions of lives and many aspects of the global economy. Transcript: https://bit.ly/3KJjeFt Go to IMF.org to follow the Spring Meetings and find all the IMF flagship reports, including the World Economic Outlook, the Global Financial Stability Report, and the Fiscal Monitor.

Most people and virtually all businesses now use electronic money for their transactions, yet central banks are still dealing with what's known among economists as the paper currency problem, which limits central banks' ability to use deep negative rates to fight recessions. In this second episode of a two-part series on inflation, economists Miles Kimball and Ruchir Agarwal discuss how fully committing to an electronic money standard would allow central banks to break the zero lower bound associated with paper currency and help them to fight both inflation and recessions more effectively, including by lowering the inflation target.  Transcript: https://bit.ly/3vncUwW Miles Kimball is a professor at the University of Colorado, Boulder, and Ruchir Agarwal is a senior economist in the IMF Research Department. This podcast series is based on their inflation trilogy published in Finance and Development. Read the articles at IMF.org/fandd

Everyone feels the pinch when inflation is on the rise and so the pressure on central banks to manage inflation rates has grown exponentially in recent weeks. In this first podcast of a two-part series on inflation, distinguished economists Miles Kimball and Ruchir Agarwal discuss how a robust negative interest rate policy can help central banks better control inflation and stabilize the economy. Transcript: https://bit.ly/3xlHFEK Miles Kimball is a professor at the University of Colorado, Boulder, and Ruchir Agarwal is a senior economist in the IMF Research Department. This podcast series is based on their inflation trilogy published in Finance and Development. Read the article at IMF.org/fandd

The pandemic has sparked an enormous upheaval in education around the world. But in India and many other low-income countries where remote learning is often not an option, children's education has simply fallen off the rails. Yamini Aiyar is President of the Centre for Policy Research in New Delhi. In this podcast, Aiyar speaks with journalist Rhoda Metcalfe about how the digital divide has pushed poor kids into an educational deficit that could reverberate for years.   Transcript: https://bit.ly/3NBfWpk Yamini Aiyar is also the author of The Education Pandemic published in Finance and Development. Read more about bridging learning gaps amongst children here

The last two years have proven a test for the global financial system, and the nature of the crises is getting more complex by the day. In this podcast, Foreign Policy magazine's Ravi Agrawal asks the IMF's two top leaders how governments should respond to the growing number of challenges facing the global economy. Transcript: https://bit.ly/382IPKX Watch the webcast at https://foreignpolicy.com/events/

Governments with strong balance sheets are known to recover from shocks more quickly. Yet many of them don't have balance sheets, or even know what assets and liabilities they have. The IMF estimates these often-overlooked global public assets at twice the value of global GDP. Ian Ball is a professor at Victoria University in Wellington and behind the New Zealand government’s net worth approach to determining its fiscal position. Ball published an article in Finance and Development about the benefits of digging up all government assets, hidden or otherwise. In this podcast, he sits down with journalist Rhoda Metcalfe to discuss the advantages of this basic accounting exercise that dates back to the time of William the Conqueror. Transcript: https://bit.ly/3CViKsI Read the article at IMF.org/fandd

As the world this week celebrates International Women's Day, hundreds of millions of women are living in conflict and fragility. IMF Managing Director Kristalina Georgieva joined a special United Nations Security Council meeting to discuss women's economic inclusion as a key to building peace. In this podcast, Georgieva says women and girls are themselves powerful agents of change and gender equality can prevent conflict and foster stability. Transcript: https://bit.ly/3CuYcXA

In this episode of Women in Economics, economist Laura Carvalho speaks with journalist Rhoda Metcalfe about how growing up in Brazil in the 90s during its currency swings and hyperinflation drove her to become one of the country's most influential economists. Carvalho is a Professor at the Department of Economics at the University of Sao Paulo and the Director of the Research Center in Macroeconomics of Inequality. Her book, Brazilian Waltz - From Boom to Economic Chaos, was a best seller. Carvalho says Brazilians who understood basic economic principles fared better through the economic turbulence of that time. Transcript: https://bit.ly/3pN26pC

Should the rich pay more taxes than the poor? Economists and public finance practitioners have traditionally focused on economic efficiency when answering questions like that, steering clear of any moral considerations that could be seen as subjective. But recent work by evolutionary moral psychologists suggests that a more human approach to policy decisions can lead to better policies that muster broader support. Paolo Mauro is Deputy Director in the IMF Fiscal Affairs Department. In this podcast, he says considering people's moral perspectives makes policy choices more politically feasible and sustainable. Transcript: https://bit.ly/3hudH8M

As part of the IMF Exchange speaker series, London School of Economics Director, Minouche Shafik and IMF Managing Director, Kristalina Georgieva discuss how current economic trends are straining social safety nets and fueling disaffection among people across the globe. In her latest book What We Owe Each Other, Shafik argues the need for a new social contract. The discussion is moderated by CNN Anchor and Correspondent Eleni Giokos. The podcast is an abridged version of the conversation, you'll find a webcast of the entire event at IMF.org.

When was the last time you used cash? In his latest book, Eswar Prasad looks at a world, not that far off, where using cash will no longer be an option. Prasad is a professor of economics at Cornell University, and his book, The Future of Money, describes how digital currencies and other financial technologies are reshaping everything from consumer banking to monetary policy and international payments. In this podcast, he discusses the book with Finance and Development Magazine editor Chris Wellisz.  Transcript: https://bit.ly/3gwQJNu Read the F&D article at IMF.org/fandd

When the pandemic hit two years ago, millions of people quickly found themselves unable to work because of the nature of their jobs or because of the recession that ensued. But now, as economies are picking up- why are companies having such a hard time hiring workers? In this podcast, journalist Rhoda Metcalfe asks economists Carlo Pizzinelli and Ippei Shibata what's behind the labor shortage in many advanced economies. Shibata and Pizzinelli's latest research looks at current trends in the US and UK and suggests there are many pieces to the labor market puzzle.  Transcript: https://bit.ly/3rnmmzk Read the blog at blogs.imf.org

Fragile and conflict-affected states are home to nearly 1 billion people and confront some of the greatest challenges among the world’s economies. 220 million people live within 40 miles from a major conflict event and 155 million globally are acutely food insecure. Franck Bousquet is the deputy director, coordinating the Fund's work in fragile and conflict-affected states. In this podcast, Bousquet talks about the growing costs associated with fragility and conflict, and how the IMF is trying to help. Transcript: https://bit.ly/3GcReGZ Read the blog at blogs.imf.org

Spending public funds efficiently and effectively is a challenge for governments around the world, but weak public finance management systems are holding back growth and development in Africa. Ken Opalo studies African legislatures and policymaking at Georgetown University’s School of Foreign Service. In this podcast, Opalo says public spending does not adequately reflect taxpayers' priorities in many African countries because elected officials are often left out of the budget process. Transcript: https://bit.ly/3K0Sq3r

Much has been said and written about the dangers of government borrowing. In their new book, In Defense of Public Debt, economic historian Barry Eichengreen and his co-authors trace the evolution of sovereign debt from the wars of medieval Europe through the Covid-19 crisis, illustrating public debt's many positive uses, from reacting to financial crises to building public works. In this podcast, Eichengreen discusses the book with Finance and Development Magazine’s Chris Wellisz. Transcript: https://bit.ly/3ec6Hvj  

While the world has been focused on the pandemic for the past two years, the rapid rise of Alzheimer’s disease and related dementias pose another threat to global public health. Nathaniel Counts is Senior VP for Behavioral Health Innovation at Mental Health America and Assistant Professor at Albert Einstein's School of Medicine. In this podcast, Counts says dementia will vastly increase across the globe as the population age rises with increasing life expectancy and have profound impacts on welfare and economic growth, especially in low- and middle-income countries.  Transcript: https://bit.ly/32cwKQc Read the F&D article at IMF.org/fandd

Despite all the money and health infrastructure available to them, some of the world's richest countries have suffered higher death rates from COVID-19 than many developing countries. Jay Patel is a researcher at the Global Health Governance Program at the University of Edinburgh and has coauthored along with colleague Devi Sridhar an article about pandemic preparedness in the December issue of Finance and Development. In this podcast, Patel tells journalist Rhoda Metcalfe that regardless of their limited resources, many developing countries in Africa delivered effective containment strategies because of strong local leadership and knowledge sharing. Transcript: https://bit.ly/33hY0xx Read the article at IMF.org/fandd.

Pandemics pose significant macroeconomic costs but only recently have garnered the attention they deserve. In this podcast, economist Ruchir Agarwal, sits down with Peter Sands, Executive Director of the Global Fund to Fight AIDS, TB and Malaria, to discuss the role of macroeconomics in public health preparedness. Agarwal heads the IMF's Global Health and Pandemic Response Taskforce. Transcript: https://bit.ly/32KapKk Read the F&D article at IMF.org/fandd

For all its strengths in measuring a country's economy, GDP falls short when it comes to gauging the well-being of its residents. For example, per capita GDP numbers today suggest people in the US are better off now than they were before the pandemic, regardless of the enduring social and economic upheaval. The recognition that GDP cannot encompass many dimensions of well-being has prompted a search for measures that reflect a more complete account of what people care about. Miles Kimball is a Professor at the University of Colorado, Boulder, and is developing the principles for a national well-being index. In this podcast, Kimball says the index would also serve to grade governments. Transcript: https://bit.ly/3lfnD8c Read the F&D article at IMF.org/fandd

In this third episode of Women in Economics, distinguished British economist Diane Coyle speaks with journalist Rhoda Metcalfe about how the lack of diversity within the economic profession is holding it back. Coyle is the Bennett Professor of Public Policy at the University of Cambridge and author of several books, some of which challenge conventional economic wisdom such as GDP. In this podcast, Coyle says economists need to start working with other disciplines if they are to live up to the influence they have in public policy and help deliver solutions to the complex challenges the world is now facing. Transcript: https://bit.ly/3DydryE Look for the review of Diane Coyle's latest book Cogs and Monsters in the Fall edition of Finance and Development. IMF.org/fandd

It's been almost 2 years since the coronavirus began to disrupt economies across the globe. In this podcast, IMF Chief Economist Gita Gopinath asks Raghuram Rajan about inflation and his views on what Central Banks should be doing to minimize the damage caused by the pandemic. Rajan is a former Governor of the Bank of India and currently the Catherine Dusak Miller Distinguished Service Professor of Finance at Chicago Booth. This podcast is an abridged version of their discussion, you'll find a webcast of the full event at IMF.org.  Transcript: https://bit.ly/3n69L1m

Despite two brutal COVID-19 waves and the widespread disruptions that ensued, India's economy is set to be one of the fastest-growing major economies for this year and beyond. Following a sharp contraction in GDP last year, India's latest outlook shows growth is expected to rebound to 9.5 percent this year and 8.5 percent in FY2022/23. Luis Breuer is IMF Senior Representative to India, Nepal and Bhutan, and a coauthor of the report. In this podcast, Breuer says India is recovering thanks to its response and scaled-up vaccine production but the pandemic is still clouding the country's outlook.  Transcript: https://bit.ly/2ZvKViG

La planète reste aux prises avec une pandémie qui dure et avec une accélération des changements climatiques. Les solutions à ces défis internationaux doivent mobiliser tous les pays et toutes les régions, y compris l’Afrique subsaharienne, qui possède la population la moins vaccinée au monde et des écosystèmes critiques. La croissance de la région devrait s’établir à 3,7 % en 2021, puis à 3,8 % en 2022. Cela fait suite à la forte contraction de 2020, mais représente toujours la reprise la plus lente par rapport aux autres régions. Papa N'Diaye dirige l'équipe qui produit les perspectives économiques régionales pour l'Afrique subsaharienne. Dans ce podcast, il dit que l'accès aux vaccins est toujours la priorité pour la région.

The world remains in the grip of the pandemic and a seemingly accelerating pace of climate change. Solutions to these global problems must involve all countries and regions, especially sub-Saharan Africa, with the world’s least vaccinated population and critical ecosystems. Sub-Saharan Africa’s economy is set to expand by 3.7 percent in 2021 and 3.8 percent in 2022. This follows the sharp contraction in 2020, but still represents the slowest recovery relative to other regions. Papa N’Diaye leads the team that produces the Regional Economic Outlook for sub-Saharan Africa. In this podcast, he says access to vaccines is still the priority for the region. Transcript: https://bit.ly/3ppx8EP

The Women in Economics series showcases extraordinary work by extraordinary women in a field dominated by men. In this second episode, journalist Rhoda Metcalfe speaks with Jayati Ghosh, Professor of Economics at University of Massachusetts Amherst, whose work on gender issues and the public value of care work gives voice to the unpaid caregivers who form the economic base for societies around the world. In this podcast, Ghosh says our whole notion of productivity is skewed because most care work is not captured in GDP.  Transcript: https://bit.ly/3lUclqA

While the World Economic Outlook shows output in advanced economies set to exceed pre-pandemic levels next year, prospects for low-income countries and emerging markets have darkened considerably due to vaccine shortages and limited support. Overall, the outlook's global growth projection for 2021 has been revised down marginally to 5.9 percent and is unchanged for 2022 at 4.9 percent. The downgrade also reflects continuing supply disruptions and the impact on advanced economies. IMF Chief Economist, Gita Gopinath heads the WEO. In this podcast, she says universal vaccine access remains key for an equitable global recovery.  Transcript Transcript: https://bit.ly/3BBV2zZ Read the blog at: blogs.imf.org

The latest Global Financial Stability Report takes a close look at how recent supply chain disruptions, wage pressures and inflation might compromise the stability of the global financial system. Fabio Natalucci is Deputy Director of the Monetary and Capital Markets Department and heads the GFSR. In this podcast, he says while risks have been contained so far, vulnerabilities remain in a number of sectors including the housing market, where house prices have unexpectedly surged during the pandemic. Transcript Read the blog at blogs.imf.org Read the report at imf.org/GFSR

The crypto ecosystem is growing fast because there are a number of potential benefits to adopting crypto assets, like making payments and financial services cheaper, faster and accessible to more people. But the rapid growth and increasing adoption of crypto assets are posing new challenges to financial stability. Analysis in the latest Global Financial Stability Report takes a deep dive into the world of crypto and calls for a global push to regulate crypto assets. IMF Financial Counsellor, Tobias Adrian, headed the research and in this podcast, he says a regulatory approach with common standards across countries will make crypto assets safer and protect investors. Transcript: https://bit.ly/3oIisjG Read the blog at blogs.imf.org

Inflation has not been much of a concern since the 70s when exogenous oil shocks were widely seen to have caused the phenomenon known as stagflation. But given the uncertain nature of the pandemic recovery, inflation is now on the rise and once again on everyone's mind. Analysis in the latest World Economic Outlook explores today's inflation landscape and finds we're in uncharted territory. Prachi Mishra is an Advisor in the IMF Research Department and coauthor of the study. In this podcast, she says while inflation expectations have stayed relatively anchored so far, there is still much to be concerned about. Transcript: https://bit.ly/3lgu7UV Read the blog at: blogs.imf.org

Most economists would agree a carbon tax is a powerful tool in fighting climate change, but carbon pricing alone is not enough. As green technologies evolve and prices fall, the fight against climate change will need a more nuanced plan of attack where people can actually afford to do the right thing. In this podcast, journalist Rhoda Metcalfe talks to Harvard Professor of Political Economy James Stock about how he sees the decarbonization process playing out sector-by-sector, which is the subject of his article titled Driving Deep Decarbonization in the September edition of Finance and Development. Transcript: https://bit.ly/3m8QV7Z Read the F&D article at IMF.org/fandd

This is the first in a series of IMF podcasts that will showcase extraordinary work by extraordinary women in economics. In this episode, Dr. Lisa Cook, speaks with journalist Rhoda Metcalfe about her work using data on lynching and racial violence in the US to study the impact of violence on innovation and economic growth. Cook has made her mark not only as a black woman economist in a field dominated by white men but for her ground-breaking research on how racism, sexism and violence prevent economies from achieving their potential.   Transcript: https://bit.ly/3zsucIG Read her Profile in F&D at IMF.org/fandd

Nature is often missing in economic models, but in a study commissioned by the UK government, Partha Dasgupta examines the economic benefits of biodiversity and the costs of losing it. Dasgupta is Professor Emeritus of Economics at the University of Cambridge, and his 600-page study titled the Economics of Biodiversity: The Dasgupta Review sets out a framework for including Nature in our economic thinking and provides a guide for change through three broad, interconnected transitions. Professor Dasgupta published an article about his findings in the September edition of Finance and Development. In this podcast, he says humans are embedded in nature and cannot escape the biosphere through ingenuity.  Transcript: https://bit.ly/3A56Eem Read the F&D article at IMF.org/fandd

There's been a shift in the economic understanding of climate change of late. Climate action, once believed a trade-off to economic growth, is now seen by many economists as an opportunity to drive innovation and increase efficiency. After almost a decade at the World Resources Institute, Andrew Steer is now President and CEO of the Bezos Earth Fund, which has committed $10 billion toward supporting new technologies that help reduce our impact on nature. Rhoda Metcalfe sat down with Dr. Steer to talk about his recent article in Finance and Development magazine. In this podcast, he says philanthropy has a big role to play in addressing climate change. Transcript:  https://bit.ly/3tbRy43 Read the F&D article at IMF.org/fandd

When it comes to cooperation, humans and chimpanzees still have much in common. Perhaps that's not surprising given humans share over 98 percent of our DNA with chimps. But in a recent article in Finance and Development, economist Ruchir Agarwal argues the 2 percent genetic difference propels humanity’s success, but also its potential for disaster. In this podcast, Agarwal asks whether humans have evolved enough to escape “chimpanzee politics” and confront the greatest risk our species is facing—climate change.   Transcript: https://bit.ly/3Bk80C0 Read the Article at IMF.org/fandd

As climate change looms ever larger, most economists agree that a carbon tax would go a long way toward reducing emissions. But carbon taxes and related policies often face deep political constraints, and many are looking at sustainable investing as a way forward. Economist Divya Kirti is coauthor along with Dalya Elmalt and Deniz Igan of a working paper titled Limits to Private Climate Mitigation. In this podcast, Kirti talks about how such market forces could help make meaningful progress in addressing climate change.   Transcript: https://bit.ly/3mDPYXj

Special Drawing Rights (SDR) are international reserve assets and used as the accounting unit for IMF transactions with its member countries. Earlier this month, in a historic multilateral response to the pandemic, the IMF board of governors approved a new SDR allocation of $650 billion, the largest in the institution's history. Ceyla Pazarbasioglu heads the Strategy, Policy and Review Department at the IMF. In this podcast, she says the SDR allocation will go a long way toward helping vulnerable countries and minimize the dangerous divergence in recovery paths around the world.  Transcript: https://bit.ly/3y6inY1

Inclusion doesn't just happen; it takes policies that intentionally serve the very specific purpose of ensuring inclusion. That is the focus of Rohini Pande's work these days as the Director of Yale's Economic Growth Center. Pande is one of the most influential development economists of her generation, always looking for ways for the poor to increase their influence and claim their fair share of growth. In this podcast, Pande speaks with journalist Rhoda Metcalfe about how tackling poverty depends less on direct aid and more on creating effective democratic institutions so that vulnerable populations can push their representatives to implement redistributive policies. Transcript: https://bit.ly/37lughM Read Rohini Pande's profile at IMF.org/fandd

60 percent of the working-age population worldwide operates in the informal sector. A new book titled The Global Informal Workforce, Priorities for Inclusive Growth uses IMF research to study the causes and effects of the high levels of informality in economies across the globe. The book covers interactions between the informal economy, labor and product markets, gender equality, fiscal institutions and outcomes, social protection, and financial inclusion. In this podcast, co-editors Corinne Deléchat and Leandro Medina say the pandemic has exposed the vulnerabilities of the informal workforce. Transcript: https://bit.ly/3rEZGt7 The book is available at elibrary.imf.org

Capacity development is one of the IMF's best-kept secrets. Strong institutions are key to a country's long-term development, and a third of the IMF's operating budget goes toward helping governments build the institutional capacity they need to fulfill their development goals. Oral Williams heads the IMF Regional Capacity Development Center for Anglophone West Africa and is coauthor with economists Ralph Chami and Elorm Darkey of a study that shows a direct relationship between technical assistance and the improvement in tax revenues. In this podcast, Williams says providing technical assistance and training to governments means better living standards for more people. Transcript: https://bit.ly/3eiK4py

No country has been spared the effects of changing weather patterns but developing countries–and island states, in particular, are facing the brunt of climate change while not having contributed to its root causes. Prime Minister of Barbados, Mia Mottley, and Madagascar's Finance Minister, Richard Randriamandranto, joined IMF Managing Director Kristalina Georgieva to discuss the effects of natural disasters on their economies and how policies can be designed to help countries adapt to the new climate reality. The podcast is a compilation of excerpts from their discussion. Transcript: https://bit.ly/3hbeR9x Watch a webcast of the full event at IMF.org

With public finances stretched to the limit and the pandemic making things worse by the day, new IMF research looks at innovative ways to get the private sector more involved in financing Africa's development needs. Economist Luc Eyraud led the research. In this podcast, he says while fixing the business environment is a good place to start, sometimes it is simply not enough.  Transcript: https://bit.ly/3wOSJHz Read the blog at: blogs.imf.org

There will be no durable end to the economic crisis until enough people around the world are vaccinated against Covid-19 and its variants to put the health crisis behind us. Economist Ruchir Agarwal and IMF Chief Economist Gita Gopinath have joined forces to come up with a plan that would make that happen. In this podcast, Agarwal says the return on investment for ending the pandemic could reach $9 trillion, one of the highest-return investments ever. Transcript: https://bit.ly/2Tzl6L6

When the apartheid regime ceded power following South Africa’s first democratic elections in 1994, the economy was in shambles. Debt service costs as a share of GDP were crippling. Trevor Manuel—a veteran of the anti-apartheid struggle and appointed minister of finance—revamped the budgeting process and set a stringent deficit reduction target. By 2006, the economy was growing at its fastest pace in more than two decades. In this podcast, Manuel looks back at what drove the country's longest phase of economic growth and how he believes the ruling party he helped establish has lost its way. Read the Transcript. Transcript: https://bit.ly/3pDMLXp Look for Putting People First in F&D

Covid-19 has left government budgets across the globe scrambling for revenues and having to reassess their tax and spending policies. For some countries– especially those in conflict areas, spending on defense eats up precious resources that could otherwise go toward other forms of public spending like education, health and infrastructure. In this podcast, economist Sanjeev Gupta says keeping global tensions in check would have long-term economic benefits.   Transcript Transcript link: https://bit.ly/3vAx1q8 Look for Military Spending in the Post-Pandemic Era in Finance and Development Magazine.

Society has long debated the morality of debt. In ancient times, debt was viewed in many cultures as sinful, with lending at interest especially repugnant. These concerns continue to influence perceptions of lending and the regulation of credit markets today. Nikita Aggarwal is a research associate at the Digital Ethics Lab at Oxford University's Internet Institute. In this podcast, Aggarwal says our increasingly online lives prove a valuable source of data for lenders and add new dimensions to debt’s morality. Her article, The New Morality of Debt, is published in the March 2021 issue of Finance and Development Magazine.  Transcript Transcript: http://traffic.libsyn.com/imfpodcast/Nikita_Aggarwal-transcript-IMF_Podcast.pdf

New IMF research shows that women with young children, mothers, particularly less educated ones, have been the most adversely affected group during the pandemic. Chrystia Freeland is Canada's Deputy Prime Minister and its first-ever female Finance Minister. In this podcast, Freeland and IMF Managing Director, Kristalina Georgieva, discuss policies to help prevent the covid-19 pandemic from rolling back gains in women's economic opportunities, and how Canada has aligned its gender strategy with the budget process. Watch the webcast at IMF.org

Before the pandemic hit, 80 percent of corporate wealth was held by the top 10 percent of large companies richest in intangible assets like data, software, and intellectual property. In this podcast, Rana Foroohar says the concentration of wealth and power among Big Tech firms has grown exponentially over the course of the pandemic. Foroohar is Global Business Columnist and Associate Editor at the Financial Times. She was invited to speak at the Institute for Capacity Development about her book Don't be evil, which examines the implications for society of the growing influence of Silicon Valley tech giants in all aspects of the economy.  Transcript Read more about building a better data economy in the March issue of Finance and Development Magazine: IMF.org/FandD Transcript:  http://traffic.libsyn.com/imfpodcast/Rana_Foroohar-transcript-IMF_Podcast.pdf

While there are signs of a recovery in advanced economies, sub-Saharan Africa is still in the throes of an unprecedented health and economic crisis. The second wave of COVID-19 infections was worse than the first and countries are bracing for more, while access to vaccines is scant at best. Most African countries will be struggling to vaccinate essential frontline workers this year, let alone the broader population. The latest Regional Economic Outlook for sub-Saharan Africa lays out the challenges that the region is facing and comes up with some policy recommendations to deal with critical issues like debt management and the financing of vaccine procurement. Papa N’Diaye leads the team that produces the biannual report. In this podcast, he says sub-Saharan Africa will be the world’s slowest growing region in 2021. Read the report at IMF.org

S'il existe des signes de reprise dans les économies avancées, l'Afrique subsaharienne est toujours en proie à une crise sanitaire et économique sans précédent. La deuxième vague d'infections au COVID-19 était pire que la première et les pays se préparent à plus, alors que l'accès aux vaccins est au mieux limité. La plupart des pays africains auront du mal à vacciner les travailleurs de première ligne essentiels cette année, sans parler de la population en général. Les dernières Perspectives économiques régionales de l'Afrique subsaharienne présentent les défis auxquels la région est confrontée et formule des recommandations politiques pour faire face à des problèmes critiques tels que la gestion de la dette et le financement de l'achat de vaccins. Papa N’Diaye dirige l’équipe qui produit le rapport semestriel. Dans ce podcast, il dit que l’Afrique subsaharienne sera la région du monde qui affiche la plus faible croissance en 2021. Le papier intégral peut être consulté sur imf.org.

Debt levels in many countries were high when the pandemic hit. But today, global public debt is reaching 100 percent of GDP. In this podcast, we hear a panel discussion about the very real danger for some countries of falling into a debt trap. The seminar was held during the 2021 IMF-World Bank Spring Meetings and featured IMF Managing Director, Kristalina Georgieva, Mohamed El-Erian, President of Queens’ College, Cambridge, and Vera Songwe, Under-Secretary-General at the United Nations. The Panel was moderated by Martin Wolf, Chief Economics Commentator at the Financial Times. Go to IMF.org to watch the webcast.

Global prospects are looking better one year into the pandemic, albeit highly uncertain. The latest World Economic Outlook (WEO) places growth at 6% for 2021, compared to 2020's unprecedented contraction of -3.3%. But recovery is by and large vaccine-dependent and the lack of access to vaccines is making recovery hard to imagine for some countries, while others are well on their way. Malhar Nabar is Division Chief in the IMF Research Department and heads the WEO. In this podcast, he says these divergent recoveries are a big concern.  Transcript Read the WEO and the blog at IMF.org Transcript:  http://traffic.libsyn.com/imfpodcast/WEO-April_2021-transcript-IMF_Podcast.pdf

While emerging markets suffered huge portfolio outflows at the beginning of the pandemic, the latest Global Financial Stability Report (GFSR) shows capital flows have returned and the outlook continues to improve, partly because of low interest rates in countries such as the United States. The new report takes a close look at the possibility of rising interest rates and what that would mean for emerging market economies trying to recover from the pandemic. Fabio Natalucci is Deputy Director of the Monetary and Capital Markets Department and heads the GFSR. In this podcast, he says a lagging recovery in emerging markets is a risk to global financial stability. Transcript Read the report: https://www.imf.org/en/Publications/GFSR Read the blog: https://blogs.imf.org/ Transcript: http://traffic.libsyn.com/imfpodcast/GFSR-April_2021-transcript-IMF_Podcast.pdf

More than a year into the COVID-19 crisis, signs of a recovery for some countries are slowly beginning to emerge. But in her customary curtain-raiser speech ahead of next week's virtual IMF-World Bank Spring Meetings, IMF Managing Director Kristalina Georgieva said high uncertainty is one of the greatest dangers facing the global economy. Go to IMF.org to follow the Spring Meetings and find all the IMF flagship reports, including the World Economic Outlook, the Global Financial Stability Report, and the Fiscal Monitor.

2020 was a record-breaking year for housing markets in many countries- including the US, but for the commercial real estate sector, it was a completely different story. Lockdown and containment measures severely affected economic activity, pushing down commercial property transactions and prices in cities around the world. A new analytical chapter in the IMF Global Financial Stability Report looks at how continued downward pressure on prices could threaten financial stability and hamper the recovery. In this podcast, lead author Andrea Deghi and team lead Mahvash Qureshi say vacancy rates of office space in the US almost doubled in 2020 due to people having to work from home, a trend likely to continue well beyond the pandemic. Read the analytical chapter: https://www.imf.org/en/Publications/GFSR/Issues/2021/04/06/global-financial-stability-report-april-2021 Read the blog: https://blogs.imf.org/

Public policy plays an important role in the recovery from the pandemic, but private sector innovation and agility can make a big difference on many counts. In this episode, Alphabet and Google CFO Ruth Porat talks with IMF Managing Director Kristalina Georgieva and David Miliband, Chief Executive Officer of the International Rescue Committee, on Google's Zeitgeist podcast, an exclusive series that brings together extraordinary leaders to focus on critical issues for the world. Transcript Transcript:  http://traffic.libsyn.com/imfpodcast/Google_Zeitgeist-transcript-IMF_Podcast.pdf

Earlier this month, AFRODAD's Jason Braganza was invited to participate in the IMF and European Commission's annual African Fiscal Forum, where Finance Ministers, heads of international agencies, and development partners discussed ways to support African economies through the pandemic. In this podcast, Braganza says countries need more fiscal space to boost social protection systems, provide stimulus for businesses, and create resources for vaccination procurement and rollout programs. Transcript:  http://traffic.libsyn.com/imfpodcast/Jason_Braganza-transcript-IMF_Podcast.pdf

Corporate market power has been on the rise in recent decades, but a new IMF study shows the pandemic has strengthened price markups for dominant firms and increased the concentration of revenues among the biggest players in sectors such as technology and pharma. The Brookings Institution and Bruegel hosted a conversation with Kristalina Georgieva, IMF Managing Director, U.S. Senator Amy Klobuchar (D-Minn.), and Margrethe Vestager, Executive Vice President of the European Commission, to talk about the research and discuss policy responses. In this podcast, lead author Romain Duval says a further rise in corporate market power would stifle innovation, hold back wage growth, and be a drag on the economic recovery. Romain Duval is Assistant Director in the IMF Research Department.  Transcript: http://traffic.libsyn.com/imfpodcast/Market_Power-transcript-IMF_Podcast.pdf Read the Blog at https://blogs.imf.org/ Watch the webcast at https://www.brookings.edu

IMF Managing Director Kristalina Georgieva and US Treasury Secretary Janet Yellen celebrate International Women's day with a conversation about the advancement of women in the field of economics.  Transcript Watch the webcast HERE

There are talented people everywhere, with ideas that could make the world a better place to live in. But what does it take for a promising young innovator to reach their full potential? In this podcast, IMF economist Ruchir Agarwal says global scientific output could be more than 40 percent higher if talented youth around the world had equal opportunities to nurture their abilities. Look for Agarwal and coauthors Ina Ganguli and Patrick Gaule's article Embracing the Gift of Global Talent in the March 2021 issue of Finance and Development Magazine.   Transcript

Economists have long studied economic migration between rich and poor countries, but India's large population and significant divergence in per capita incomes between its rich and poor states make it an interesting case study on the implications of economic migration within a fast-growing emerging economy. In this podcast, economists Prakash Loungani and Sriram Balasubramanian discuss how consumption levels in India's rural and urban areas may be driving the migration trends within its borders.   Transcript Read the working paper HERE

The pandemic has proven in no uncertain terms that people and institutions need to adapt to change. IMF Managing Director Kristalina Georgieva was invited by the Albright Institute of Global Affairs at Wellesley College to discuss how the Fund is adapting to the current needs of the global economy and the extent to which the institution has had to rethink its strategies since it was created in 1944 to support economies of the post-war world. The conversation was moderated by Prof. Joseph Joyce, Professor of Economics, Wellesley College.    Transcript Watch the Wellesley College webcast HERE You may also be interested in Kristalina Georgieva's talk with Badr Jafar, Founding Patron of the Centre for Strategic Philanthropy. Watch HERE

Global disparities between women and men have narrowed over the twentieth century but despite the strong evidence of the benefits of closing the gender gap, progress has been slow in many parts of the world. Dr Alice Evans has studied women movements across the globe and written extensively on the topic. She was invited by the IMF Africa Department to talk about how feminist activism helps women overcome barriers to greater economic autonomy and is key to achieving gender equality. In this podcast, Evans says feminist activism thrives in societies with female mobility, economic development, and labor-intensive growth.  Transcript Find her articles and podcast at DrAliceEvans.com.

With the great strides in financial technology in recent years, the lower data processing costs and fees associated with investing in the stock market should have led to broader increases of household wealth. But in this podcast, economist Roxana Mihet says while fintech has reduced barriers to access and held out the promise of gains for all, it may have worsened capital income inequality. Mihet is Assistant Professor of Finance at HEC Lausanne, and her recent study suggests the most likely beneficiaries of financial innovation are those who have access to the valuable data that inform good investments. Mihet was recipient of the ECB's Young Economists Award in 2020 for her work on Financial Innovation and the Inequality Gap. She was invited by the IMF's Strategy, Policy and Review Department to present her research.   Transcript

Many things can happen within the global financial system to disrupt financial stability, and the pandemic is testing most of them. Fabio Natalucci heads the IMF's Global Financial Stability Report, which analyses trends in the world economy and looks for potential vulnerabilities. The latest update identifies the uneven distribution of vaccines across the globe as one of those vulnerabilities, especially for frontier market economies. In this podcast, Natalucci says while the vaccine rollout has boosted hopes of a recovery this year, there are still difficult times ahead. Fabio Natalucci is Deputy Director in the Monetary and Capital Markets Department.  Transcript  Read the full report Read the blog at blogs.imf.org

Artificial intelligence and robots are revolutionizing production processes across the globe, but what countries stand to gain most from these new technologies? Economists Andy Berg and Chris Papageorgiou are coauthors of a new study that suggests the so-called AI revolution may widen the gap between rich and poor countries. Transcript Read the blog

Since the Industrial Revolution began more than 250 years ago- the world has produced enough wealth for every one of its 8 billion people to live comfortably. Yet, over 40 percent live in poverty, with most of the wealth being held by an increasingly narrow slice of the population. Binyamin Appelbaum says rising inequality is weighing on growth and straining the fabric of liberal democracy. And he squarely places the blame on distribution. In this podcast, Appelbaum says while there has been a surge of interest among economists to study the inequities of distribution, some still question the importance of it.  Transcript Appelbaum's article Distribution Matters is published in the December 2020 issue of Finance and Development Magazine.  

Tourism, hospitality, and other contact-intensive sectors with higher shares of female workers came to a dead stop shortly after Covid-19 infections started to spread. But as the labor market readjusts to the new work environment, a new study using real-time data on job listings reveals women–across all sectors, continue to drop out of the workforce at an alarming rate. While official labor market data can paint a confusing picture of the job market under the current conditions, economist Wenjie Chen says online job posting analysis from 22 countries shows the extent of the pandemic's damage, especially to women. Women have fared worse than men even in those jobs that are more conducive to working from home. Chen's article Disparities in Real Time is published in the December 2020 issue of Finance and Development Magazine. Transcript

The global pandemic has caused millions of people to lose their jobs and is widening the gap between white-collar workers who can work from home and those who don’t have the skills or resources to participate in a digitally-driven economy. And with robots and automation on the rise, COVID-19 appears to have ushered in a new normal for the global workplace. But in this podcast, JustJobs Network President Sabina Dewan, and ILO economist Ekkehard Ernst, argue this "new normal" isn't really new at all, and that shifting demographics and technology were upending labor markets long before the Covid-induced lockdowns. Dewan and Ernst coauthored Rethinking the World of Work, published in the December 2020 issue of Finance and Development Magazine. Transcript

Covid-19 has shown the important role that data and statistics play in assessing the disruptions caused by the pandemic–economic and otherwise–and implementing measures to mitigate its impact. The IMF's Statistics Department brings together leading thinkers in the world of data in its annual Statistical Forum. This year, Ian Goldin was invited to give a keynote speech on Economics, Institutions, and Multilateralism in the context of Covid-19, and to discuss his book The Butterfly Defect with IMF Managing Director Kristalina Georgieva. Goldin is the Oxford University Professor of Globalization and Development, and Director of the Oxford Martin Program on Technological and Economic Change. In this podcast, Goldin says bouncing back should not imply resorting to pre-pandemic approaches but to set out on a new and more sustainable path. Transcript

Despite long-standing warnings from scientists about the risks of a pandemic, the world was simply unprepared for this one. Ulrich Volz says the same is true for climate change. Volz is the director of the Center for Sustainable Finance at SOAS University of London and in this podcast, he says many countries will find themselves in a permanent crisis mode unless concerted efforts are made to strengthen investment to mitigate and adapt to climate change, Volz's article Investing in a Green Recovery is published in the June 2020 issue of Finance and Development Magazine. Transcript

  بلدان الشرق الأوسط وشمال إفريقيا استجابت لجائحة كوفيد-19 باتخاذ إجراءات سريعة وصارمة للتخفيف من انتشار الجائحة وحدة تأثيرها ولكنها لا تزال تواجه بيئة قاسية يشوبها عدم اليقين. فتشير آخر التوقعات لآفاق الاقتصاد في المنطقة إلى أن البلدان المصدرة للنفط تضررت على وجه الخصوص بدرجة بالغة من "صدمة مزدوجة" تمثلت في الأثر الاقتصادي لحالات الإغلاق العام وما ترتب عليها من هبوط حاد في الطلب على النفط وفي أسعاره. جهاز أزعور يلقي الضوء على توقعات صندوق النقد الدولي للآفاق الاقتصادية في المنطقة. ويقول أزعور في هذه الحلقة من البث الصوتي إن احتواء الأزمة الصحية لا يزال هو الأولوية، إلا أن الحكومات يجب أن تبدأ كذلك في إرساء ركائز التعافي الاقتصادي الذي سيسمح للبلدان بالخروج من الأزمة أقوى من ذي قبل. جهاد أزعور، مدير إدارة الشرق الأوسط وآسيا الوسطى

The Middle East and North Africa responded to the COVID-19 pandemic with swift and stringent measures to mitigate its spread and impact but continue to face an uncertain and difficult environment. The latest outlook for the region shows oil exporters, in particular, were hard hit by a “double-whammy” of the economic impact of lockdowns and a sharp decline in oil demand and prices. Jihad Azour heads the IMF's outlook for the region. In this podcast, he says while containing the health crisis is still the priority, governments must also start laying the groundwork for an economic recovery that will allow countries to emerge stronger. Jihad Azour is Director of the IMF Middle East and Central Asia Department.

La pandémie mondiale a exercé une pression intense sur les économies de toute l'Afrique subsaharienne. De nombreux gouvernements luttent pour maintenir la stabilité macroéconomique tout en répondant aux besoins fondamentaux de leurs populations. Papa N'Diaye dirige les perspectives économiques du FMI pour la région. Dans ce podcast, il dit que l'économie de l'Afrique subsaharienne connaîtra sa pire contraction jamais enregistrée cette année, ramenant le PIB par habitant aux niveaux de 2013. Papa N’Diaye est chef de la division des études régionales au département Afrique du FMI.

The global pandemic has put intense pressure on economies across sub-Saharan Africa. Many governments are struggling to maintain macroeconomic stability while also meeting the basic needs of their populations. Papa N'Diaye heads the IMF's economic outlook for the region. In this podcast, he says sub-Saharan Africa's economy will see its worst contraction on record this year, bringing real per capita incomes back to 2013 levels. Papa N’Diaye heads the Regional Studies Division in the IMF’s African Department.

In the early 2000s, Nobel Laureate, Michael Kremer helped develop the design of advance market commitment models (AMCs). They were used to incentivize the private sector to work on issues of relevance for the developing world by pledging that if they developed an appropriate vaccine, funds would be available for those countries to purchase it. The approach resulted in billions of dollars being devoted to pneumococcal vaccines for strains common in developing countries, saving hundreds of thousands of lives. Kremer's latest research focuses on how to expedite the production and distribution of the COVID-19 vaccines immediately following successful medical trials. In this podcast, Kremer says at-risk investment into vaccine manufacturing capacity before clinical approval would advance vaccine distribution by 6 months or more.  Transcript Michael Kremer is Professor in Economics at the University of Chicago, and director of the Development Innovation Lab. He shared the Nobel Memorial Prize in Economics in 2019 for his work on experimental approaches to alleviating global poverty. He was invited by the Institute for Capacity Development to present this latest research to IMF economists. Check out the University of Chicago's podcast Pandemic Economics

Seven months after the World Health Organization declared a global pandemic, more than 1 million people have died of the disease and trillions of dollars have been spent in an effort to contain its devastating impact on economies across the globe. The latest Fiscal Monitor looks at what governments can do in the different phases of the pandemic to reduce the impact of the recession. Vitor Gaspar heads the semiannual publication. In this podcast, he says the massive fiscal support provided since the start of the crisis has been effective at saving lives and livelihoods and needs to continue. Vitor Gaspar is the Director of the IMF Fiscal Affairs Department. Transcript Read the blog at blogs.imf.org

While economies across the globe continue to feel the pressures from the pandemic, the latest Global Financial Stability Report shows the extraordinary fiscal and monetary policy measures taken by governments, Central Banks and International Financial Institutions have helped pull the global economy back from the brink. Fabio Natalucci leads the team of IMF economists who produce the report. In this podcast, he says policymakers should continue to carefully sequence their response based on the progression of the disease to maintain the stability of the global economy. Fabio Natalucci is Deputy Director in the Monetary and Capital Markets Department. Read the blog

As the pandemic continues to wreak havoc on people and economies across the globe, the IMF and World Bank prepare for their second round of virtual meetings since the start of the crisis. In her customary curtain raiser speech, IMF Managing Director, Kristalina Georgieva says while next week's outlook will show a small upward revision to the 2020 global forecast, countries are facing what she calls "The long ascent"—a difficult climb that will be uneven, uncertain and prone to setbacks. TRANSCRIPT

The pandemic is adding pressure on society's most vulnerable and could lead to a significant rise in income inequality. In this podcast, IMF Managing Director, Kristalina Georgieva, talks with Max Lawson and Nadia Daar on the Equals podcast. The podcast was created by Oxfam International and focuses on inequality. Georgieva shares her views on the direction of inequality, the IMF's role in stabilizing economies amid the pandemic, and offers a glimpse into her own life experiences growing up in the Eastern Bloc. Transcript Blog

While the African elephant is the largest and the most famous land animal in the world, very few people know anything about the African forest elephant. Forest elephants are smaller and live in densely wooded rainforests. Their numbers are declining thanks to deforestation and poachers and likely face extinction if nothing is done to protect them. Other than local conservationists and the biologists who study them, forest elephants have few advocates. But what if people knew that African forest elephants provide carbon-capture services valued at over $150 billion? And what if those countries that host them could tap into that equity and benefit from their conservation efforts? In this podcast, economist Ralph Chami and ecologist Fabio Berzaghi say placing a monetary value on the services provided by forest elephants could help prevent their demise. Their article, The Secret Work of Elephants, is published in the online edition of Finance and Development Magazine. Transcript

While our work environments changed literally overnight, the impact of lockdowns on the nature of work is likely to last well beyond the pandemic. In a study published by the National Bureau of Economic Research, scholars from Harvard and Stern Business Schools look at the ongoing challenges for organizations and workers struggling to adapt and perform amid the global pandemic. Jeffrey Polzer is a Professor in the Organizational Behavior Department at Harvard Business School and a co-author of the study. In this podcast, Polzer says the pandemic, for many, has virtually obliterated the line between work and home life. Transcript

After a century-long decline, mortality rates in the U.S. have flattened- even increased for non-Hispanic whites in middle age. In this podcast, Nobel laureate, Angus Deaton describes how people are dying at an alarming rate from suicides, drug overdoses and alcohol-related diseases, and how the largest increases in mortality are happening among those without a bachelor's degree. In their latest book titled Deaths of Despair, Deaton and Princeton economist Anne Case look at how approaches to healthcare and inequality relate to the rising mortality rates. Professor Deaton was invited by the Institute for Capacity Development to present their research to IMF economists. He joined me afterward to talk about the B.A./non-B.A. divide in the United States. Transcript Read the REVIEW of Deaths of Despair by Kenneth Rogoff. Angus Deaton is Professor Emeritus at Princeton and Presidential Professor of Economics at the University of Southern California. He was awarded the Nobel Prize in Economics in 2015 for his work on consumption, poverty, and welfare.

There are many facets of the IMF's work that people don't often hear about, one is capacity development; helping governments strengthen their ability to make good policy decisions and to implement them. Nobel Laureate, Paul Krugman was invited by the Institute for Capacity Development to share his insight into where the economy stands now in the context of the global pandemic; his thoughts on what an economic recovery might look like and what policies may help it along. Professor Krugman joined me after his IMF presentation to talk about the current crisis and how zombie ideas–the topic of his latest book, might hinder the economic recovery. Paul Krugman is Professor of Economics at the Graduate Center of the City University of New York and author of Arguing With Zombies Transcript

The IMF's latest Economic Outlook for sub-Saharan Africa is considerably worse than its April outlook and is subject to massive uncertainty. Economic activity this year is now projected to contract by some 3.2 percent, reflecting a weaker global economy and measures to contain the spread of the virus. In this podcast, Financial Times Africa Editor, David Pilling, and Kristalina Georgieva discuss the profound economic consequences of the pandemic for the continent and how the Fund is supporting countries through the crisis. The interview was produced by the Financial Times and can be found at FT.com/David-Pilling

The 2008 global financial crisis and the current pandemic have put enormous pressure on societies and exposed cracks in the systems we all depend on to survive. These types of global crises are forcing a reckoning about the world’s ability to manage systemic hazards. In this podcast, Ann Florini and Sunil Sharma say with increasing fragility in political, social, economic, and environmental systems, the 21st century is set to experience massive disruptions that pose serious, possibly existential threats to society. Their article Systemic Hazards is published in the June 2020 issue of Finance and Development Magazine. Transcript Ann Florini is a clinical professor at the Thunderbird School of Global Management at Arizona State University. Sunil Sharma is a distinguished visiting scholar at the Elliott School of International Affairs at George Washington University.

“The storm is a good opportunity for the pine and the cypress to show their strength and stability,” said Ho Chi Minh, the Father of the Vietnamese Nation. And it turns out Vietnam has shown its strength in weathering the COVID-19 storm. Era Dabla-Norris and Anne-Marie Gulde-Wolf are both economists in the IMF's Asia Pacific Department, and in this podcast, they say Vietnam's approach should allow for a quicker rebound. TRANSCRIPT You can read the Country Focus story at IMF

While connectivity in sub-Saharan Africa lags behind other regions, digitalization is advancing fast and being embraced by those who do have access. Some countries are now global leaders in mobile money transactions—with a share of GDP average close to 25 percent, compared to just 5 percent in the rest of the world. In a region where infrastructure is often lacking, digital technologies offer ways to break down or leap over barriers. IMF economists Preya Sharma and Martha Tesfaye Woldemichael are co-authors of the latest analytical chapter for the Economic Outlook for sub-Saharan Africa, which studies the impact of digitalization. In this podcast, Sharma and Woldemichael say expanding internet access in sub-Saharan Africa by an extra 10 percent of the population could increase real per capita GDP growth by 1 to 4 percentage points. TRANSCRIPT

L'Afrique subsaharienne est en première ligne du changement climatique, avec des conditions météorologiques extrêmes qui font des ravages sur les infrastructures et la production agricole. Mais la crise sanitaire introduit un autre niveau de risque pour la chaîne alimentaire. Dans ce podcast, les économistes du FMI Genet Zinabou et Eric Pondi Endengle disent que l'augmentation de la fréquence et de l'intensité des catastrophes naturelles pèse sur la région, qui dépend fortement de l'agriculture pluviale. Les dernières Perspectives économiques examinent comment la région peut mieux gérer les types de chocs qui menacent son approvisionnement alimentaire.

Migration has been the focus of heated political debate in recent years, surfacing misconceptions of its real economic impact. But a new study in The World Economic Outlook shows migration improves economic growth and productivity in host countries. In this podcast, IMF economist and co-author of the study, Margaux MacDonald, says supporting migrants now and ensuring migration trends continue beyond the pandemic will help the global economy recover. TRANSCRIPT Look for the BLOG at Blogs.IMF.org Margaux MacDonald is an economist in the IMF's Research Department.

Sub-Saharan Africa is on the front lines of climate change with extreme weather wreaking havoc on infrastructure and agricultural production. COVID-19 introduces yet another level of risk to the food chain. In this podcast, IMF economists Pritha Mitra and Seung Mo Choi say the increase in frequency and intensity of natural disasters is weighing down on the region, which relies heavily on rainfed agriculture. The latest Economic Outlook for sub-Saharan Africa looks at how the region can better manage the types of shocks that threaten its food supply. Transcript

The pandemic is crippling economies across the globe but for many countries, the economic shock will be magnified by the loss of remittances—money sent home by migrant and guest workers employed in foreign countries. Ralph Chami is an Assistant Director for the Institute for Capacity Development at the IMF. In this podcast, he says remittances are a lifeline for low-income and fragile states and when migrants lose their jobs those remittance flows stop. Chami says it's in everyone's interest for host countries to help support migrant workers through the pandemic. Chami and IMF Deputy Managing Director Antoinette Sayeh co-authored  Lifelines in Danger  published in the June 2020 issue of Finance and Development Magazine. Trancript

While rich and poor are equally vulnerable to the debilitating physical effects of the coronavirus, economist Jonathan Ostry says the economic and social impact of the pandemic is much less equal. Ostry is Deputy Director of the Asia and Pacific Department at the IMF and in this podcast, he says the poor and the working class bear the brunt of pandemics and that policies need to pay specific attention to prevent long-term damage to the livelihoods of society's most vulnerable. Ostry's latest study on Inequality and pandemics is published by the Center for Economic Policy Research (CEPR) where he is a Research Fellow. You can read Jonathan Ostry’s blog on how pandemics impact the poor at Blogs.imf.org TRANSCRIPT

L'Afrique subsaharienne fait face à une crise sanitaire et économique sans précédent qui menace d'inverser une grande partie des progrès de développement qu'elle a réalisés ces dernières années. Les dernières perspectives économiques régionales montrent une contraction de 1,6% cette année, le pire résultat jamais enregistré. Papa N'Diaye est chef de la recherche au Département Afrique du FMI qui publie les perspectives. Dans ce podcast, N'Diaye dit que d'ici la fin de 2020, la région fera face à des pertes de revenus d'environ 200 milliards de dollars par rapport à ce qu'elle attendait il y a 6 mois.

Sub-Saharan Africa is facing an unprecedented health and economic crisis that threatens to reverse much of the development progress it's made in recent years. The latest Regional Economic Outlook shows the economy will contract by 1.6 percent this year; the worst reading on record. Papa N'Diaye is Head of Research in the IMF’s African Department that publishes the outlook. In this podcast, N'Diaye says by the end of 2020, the region will face income losses of about $200 billion relative to what they were expecting 6 months ago.

لم تسلم أي منطقة من الآثار الاقتصادية الناجمة عن جائحة فيروس كورونا. ويقول جهاد أزعور إن جائحة كوفيد-19 كان لها تأثير بالغ على منطقة الشرق الأوسط وآسيا الوسطى، نظرا لارتفاع مستوى الاعتماد على النفط والانتشار الواسع للعمل في القطاع غير الرسمي في كثير من بلدان المنطقة. ويرأس السيد أزعور "إدارة الشرق الأوسط وآسيا الوسطى" بصندوق النقد الدولي، وهي الإدارة التي أصدرت مؤخرًا تقرير آفاق الاقتصاد الإقليمي والذي يوضح التحديات الهائلة التي يفرضها التصدي لهذه الجائحة. يمكنكم قراءة مدونات أخرى لجهاد أزعور حول التأثير العالمي لجائحة كوفيد-19.

No region has been spared the economic devastation of the coronavirus pandemic. And with the high level of oil-dependency and informality of many countries in the Middle East and Central Asia, Jihad Azour says the economic impact of COVID-19 has been dramatic. Azour heads the IMF's Middle East and Central Asia Department, which has just published the region's economic outlook that shows formidable challenges in the face of the pandemic. You can read Azour's’s blog and others about the global impact of the pandemic at Blogs.imf.org TRANSCRIPT

As COVID-19 continues to wreak havoc on economies across the globe, economists are trying to figure out what the best path forward is for countries at different stages of the pandemic. Neil Ferguson and Azra Ghani are both professors of infectious disease epidemiology at Imperial College, London, and renowned for their mathematical modelling of the spread of infectious diseases. In this podcast, IMF Managing Director Kristalina Georgieva says macroeconomists and epidemiologists need to work together to make the right decisions in this environment. Professors Ghani and Ferguson joined Georgieva in a virtual seminar during the IMF World-Bank Spring meetings.

As the COVID-19 pandemic unfolds around the world, emergency government spending on things like health care and employment, as well as tax policy, are preserving lives and livelihoods. In this podcast, Vitor Gaspar, Director of the IMF’s Fiscal Affairs Department, says governments should do whatever it takes, but to keep the receipts. Gaspar oversees the Fiscal Monitor, and the latest issue analyses the fiscal implications of the global pandemic. Countries have spent about $8 trillion so far and debt and deficits are on the rise. Gaspar says this is money well spent, but governments will need to be transparent and accountable for how they used taxpayer dollars to contain the pandemic and limit the economic damage. You can read Gaspar’s blog and others about the global impact of the pandemic at Blogs.imf.org TRANSCRIPT

Early in the year, financial markets were buoyed by a widespread sense of optimism on the back of supportive monetary policies, reduced trade tensions, and tentative signs of stabilization in the global economy. But COVID-19 changed all of that. Fabio Natalucci heads the team that produces the IMF's Global Financial Stability Report, the latest one published amid a historic drop in equity markets and volatility levels last seen during the 2008 global financial crisis. In this podcast, Natalucci says the virus pandemic requires a forceful policy response to address health concerns, preserve the stability of the financial system and protect the productive capacity of the economy. Fabio Natalucci is Deputy Director in the IMF's Monetary and Capital Markets Department.

In this podcast, IMF Managing Director, Kristalina Georgieva gives a preview of the World Economic Outlook to be released next week during the IMF's first-ever "virtual" Spring Meetings. In normal times, the IMF-World Bank Spring Meetings are preceded by a curtain-raiser speech delivered by the Managing Director at a crowded public venue full of economists, academics and journalists. But these are not normal times. Kristalina Georgieva's speech for next week's Spring Meetings was to camera and solemn in tone. The outlook anticipates the worst economic fallout since the Great Depression.  TRANSCRIPT

Countries in sub-Saharan Africa are taking sweeping measures to halt the advance of Covid-19, imposing limits on public gatherings and the like. But for the region's most vulnerable, social distancing is not realistic. In this podcast, IMF African Department head Abebe Aemro Selassie, says anything that will help contain the spread of the virus, like closing borders to people, will help minimize added strain on already fragile health systems. Selassie says what began as a health crisis is now a major global economic crisis, and he fears African countries will be swept up in that. Read Selassie's blog and others on the response to the coronavirus at Blogs.IMF.org TRANSCRIPT

The coronavirus pandemic is having a profound impact on lives and economies around the world. In this podcast, we hear IMF Managing Director Kristalina Georgieva's statement following her call with G20 Finance Ministers and Central Bank Governors, where they discussed the extraordinary circumstances of the health crisis and the extraordinary measures it will take to mitigate its economic impact. Read the TRANSCRIPT

The coronavirus has wreaked havoc on just about every aspect of life around the world. The limited human contact required to contain the spread of the virus is hindering economic activity and in turn, putting enormous pressure on the global economy. Martin Mühleisen heads the IMF's Strategy, Policy, and Review Department, which looks at IMF policies and advises management on strategic issues. In this podcast, Mühleisen says even if an individual country is fortunate enough to escape widespread viral contagion of the coronavirus, it's likely it will still feel the economic fallout. Read the TRANSCRIPT Read Mühleisen's BLOG and others on the response to the coronavirus at Blogs.IMF.org

It took more than 50,000 years for the world population to reach 1 billion people, but since 1960, we have added successive billions every one to two decades. The United Nations projects there will be 9 billion people on the planet by 2037. Demography is the study of life, death and everything we do in between. And throughout human history, we've seen plenty of population booms and busts. In this podcast, Harvard economist and demographer David Bloom, says public policy both shapes and responds to demographic trends. David Bloom's article, Population 2020, is published in the March issue of Finance & Development magazine. Read the TRANSCRIPT

While the immigration debate tends to focus on culture, identity and potential economic benefits, Giovanni Peri says demographics are the Achilles' heel of the global North. Peri is Director of the Global Migration Center at the University of California, Davis, and in this podcast, he says immigration policies that allow larger numbers of immigrants will help stabilize population growth in the aging advanced economies of the North. Peri's article Immigrant Swan Song is published in the March 2020 issue of Finance and Development magazine. Read the TRANSCRIPT

Mitigating the effects of climate change takes a multifaceted approach with economic policy playing a pivotal role. In this podcast, we hear from two influential people at the very center of where economic and environmental policies meet. IMF Managing Director, Kristalina Georgieva and Lord Nicholas Stern, of the London School of Economics, discuss the significance of the Special Report on Climate Change published in 2018 by the Intergovernmental Panel on Climate Change (IPCC), and how financial institutions can help countries live up to their Paris accord pledges to reduce carbon emissions. Nicholas Stern is Chairman of LSE's Grantham Research Institute on Climate Change and author of the Stern Review on the Economics of Climate Change published in 2006.

Bonds have been helping corporations and governments finance infrastructure and large-scale projects for hundreds of years. But the last decade has seen the emergence of green bonds, driven by increasing environmental awareness within the business community. In this podcast, founder and CEO of Rock Creek, Afsaneh Beschloss, says global asset management firms like hers are seeing a growing demand for climate-related investments. In the first half of 2019 alone, new certified green bond issues topped $100 billion globally. Prior to Rock Creek, Beschloss was treasurer and chief investment officer of the World Bank. Her article A Greener Future for Finance, co-authored with Mina Mashayekhi, is published in the December 2019 edition of Finance and Development Magazine.

South Africa is an important economy in sub-Saharan Africa and when growth is high the entire region benefits. But the latest review of South Africa's economy shows real GDP growth is estimated at about 0.4 percent in 2019 and projected to moderately rise to 1½ percent in the medium term: a level insufficient to raise per-capita income and reduce unemployment. In this podcast, economist Ana Lucia Coronel says South Africa's growth slowdown in recent years stems in part from slow reform implementation to tackle structural impediments to growth. Coronel heads the South Africa team and oversees the writing of the IMF's annual assessment of South Africa's economy. Inefficiencies in South Africa's state-owned enterprises have triggered costly government bailouts of electricity provider Eskom and others. (iStock by Getty Images/brazzo)

Inequality and climate change are two of the most pressing issues of our time, with repercussions likely to last long into the future. In this podcast, IMF Chief Economist Gita Gopinath sits down with two young leaders to talk about how best to tackle these issues. Lyndsay Walsh (Trinity College, Dublin) and Tarik Gooptu (University of Oxford) are both students and both of a generation that is highly motivated to bridge income gaps and stop global warming. Walsh and Gooptu are the winners of an essay competition launched by Finance and Development Magazine. Their essays are published in the December 2019 issue.

Without major efforts to reduce the accumulation of carbon emissions in the atmosphere, future generations will inherit a much warmer planet with risks of dangerous climate events, higher sea levels, and destruction of the natural world. In this podcast, economist Ian Parry makes the case for carbon taxation as the most effective way to nudge people towards cleaner fuels and to encourage them to adopt more efficient appliances or lower emission vehicles. But while convincing people to buy electric cars and more efficient appliances is important, the largest CO2 emitting countries need to work together to make a real dent in global greenhouse gas emissions. That, Parry says, is proving to be difficult. Parry's latest article Putting a Price on Pollution is published in the December 2019 edition of Finance and Development Magazine.

Over two-thirds of global financial institutions have seen an increase in cyberattacks in recent years. In the UK alone, the number of security breaches has increased by over 480%. Cybersecurity is no longer just about firewalls, data encryption, and strong passwords. While those are still necessary, they are not enough to fight a threat that knows no borders.  One recent law enforcement operation that started in Spain busted a cyber gang operating in 15 countries and required coordinated efforts with the FBI, Europol and other private companies. In this podcast, three leading specialists in cybersecurity discuss how to create a safer digital world for financial institutions. Carnegie Endowment's Tim Maurer, IMF's Chris Wilson, and Central Bank of Spain's Silvia Senabre participated in a recent workshop on cybersecurity hosted by the IMF. Tim Maurer is co-director of the Cyber Policy Initiative at the Carnegie Endowment for International Peace and author of Cyber Mercenaries: The State, Hackers, and Power. Silvia Senabre is a mathematician and computer engineer who works on cybersecurity risk evaluation for the Central Bank of Spain. Chris Wilson is a Senior Financial Sector Expert in the IMF's Monetary and Capital Markets Department and co-author of Cybersecurity Risk Supervision.

Populist leaders and movements are on the rise across the world, but why now? Populism has been around since Ancient Rome. In this podcast, economist Guido Tabellini says the 2008 global financial crisis and technology are driving the recent resurgence. Tabellini says with growing inequality people disappointed by the policies of the past that have excluded them from the benefits of the global economy are voting more along cultural identity lines. It’s the nationalists versus the cosmopolitans. Guido Tabellini is Professor of Political Economics at Bocconi University in Milan, Italy, and delivered the IMF’s Annual Richard Goode Lecture on his research.

While efforts to mitigate climate change have focused primarily on burning fewer fossil fuels, recent research by the UN’s Panel on Climate Change shows that what we eat and how we produce it can have an even greater impact on the global environment and public health. The report says reforms in crop and livestock activities could potentially mitigate up to a third of all greenhouse-gas emissions. IMF economist, Nicoletta Batini studies the environmental impact of the agri-food sector. Her latest article titled Reaping What We Sow is published in the December 2019 issue of Finance and Development Magazine.   Photo: Consuming fewer animal products can help reduce greenhouse-gas emissions. (Istock by Getty Images/ FrankvandenBergh)

Sub-Saharan Africa has made significant inroads in reducing poverty and increasing access to education and health services, but the infrastructure deficit still looms large throughout the region. For many countries, the ability to finance their development needs has become more constrained as public debt has increased rapidly in recent years. In this podcast, Abebe Aemro Selassie says when governments invest in the right types of infrastructure, people are more willing to pay the taxes the government needs to service its debt. Selassie is Director of the IMF's African Department, which has helped organize a special conference in Dakar, Senegal, this week to discuss how countries can continue to address the infrastructure gap while maintaining manageable debt levels. Sustainable Development and Debt conference page

Following the great economic crises of the 20th century, there were periods of intellectual and political upheaval that ultimately changed economic policy. Mervyn King, former Governor of the Bank of England, argues the 2008 financial crisis should have prompted the same reaction but didn’t. King delivered this year's Per Jacobsson Lecture during the IMF-World Bank Annual Meetings and warned the failure to dramatically change our approach to economic policy risks another financial crisis. Lord Mervyn King is Professor of Economics at New York University and the London School of Economics. He is also author of The End of Alchemy and has a forthcoming book entitled Radical Uncertainty.

Investing in social programs can soften the blow of inequalities and foster more stable societies. In this podcast, we speak with Deborah Greenfield, Deputy Director General for Policy at the International Labour Organization, which was formed one hundred years ago out of the Paris Peace Conference at the end of World War 1. And while the work environment has changed dramatically in the past one hundred years, gaining access to basic social programs remains a struggle for far too many workers around the world today. A recent ILO study says more than half the global population lacks healthcare and social security. Greenfield says social protection floors provide important support to workers as they transition into the changing job market. Read the paper about IMF Engagement on Social Spending,

Somalia is one of the world's most conflict-affected states. Many countries around the world suffer from weak governing institutions, but Somalia was without a functional central government for 20 years. In this podcast, Somalia's Finance Minister, Abdirahman Duale Beileh, says while elections in 2012 have since helped reestablish some of the institutions that bind the country's disparate communities, the road to recovery remains a steep climb. Duale Beileh is also a distinguished artist and songwriter, and we hear his latest song about students struggling to get an education amid violence and social destruction. Abdirahman Duale Beileh was in Washington for the 2019 IMF-World Bank Annual Meetings.   You'll find the webcast of Dr. Beileh's presentation about Effective Engagement in Fragile States at IMF.org. Link to his song Heestii Dalkani Gurmad Buu Raba

In her first IMF-World Bank Annual Meetings as IMF Managing Director, Kristalina Georgieva talks with Foreign Policy Magazine's Ravi Agrawal about breaking down barriers to women's career growth. Georgieva is the first person from an emerging market economy, and only the second woman to lead the IMF since its inception in 1944. In this podcast, Georgieva and Agrawal discuss the economic benefits of gender equality and the societal transformation that is required to correct the injustices of the past. Read the IMFBlog on The Economic Cost of Devaluing “Women’s Work”

The dramatic drop in commodity prices in 2014 has had lingering effects in sub-Saharan Africa. One such effect is a growing backlog of payments by governments to service providers, known as arrears. But despite the prevalence of arrears in the region, their causes and consequences are not well understood. The latest Regional Economic Outlook for sub-Saharan Africa looks at the economic and social impact of increasing arrears in recent years. In this podcast, IMF economists Samuel Delepierre and David Stenzel say domestic arrears can undermine private sector activity and citizens’ trust in the government.

Competition is considered to be an essential driving force of market economies. It’s said to ensure a more efficient allocation of resources and can boost innovation and productivity. But what happens when there isn’t enough competition? The latest Regional Economic Outlook for sub-Saharan Africa looks at how the lack of competition in the region is hurting the poor and undermining economic growth. In this podcast, IMF economists Reda Cherif and Jesus Gonzalez-Garcia say more competition could lower prices and increase welfare. Photo: Competition makes the economy work for people. (iStock by Getty images/ Stefan_Ganev)

The Global Financial Stability Report exposes weak spots in the global economy that could amplify the impact of a shock, such as an intensification of trade tensions or rising corporate debt. Fabio Natalucci heads the team of economists who write the GFSR. In this podcast, Natalucci says if current trends continue, debt owed by firms unable to cover interest expenses with earnings, or debt-at-risk, could rise to $19 trillion. Fabio Natalucci, is Deputy Director in the IMF's Monetary and Capital Markets Department. Read the IMF BLOG

While elections are one of the most important pillars of democracy, in many African countries they are characterized by uncertainties due to the high risk of electoral violence. Studies often look at ethnic tensions and political cleavages as drivers of electoral violence, but how might gender play into this? IMF economist Rasmane Ouedraogo investigates the impact of gender equality on electoral violence in Africa and finds yet another good reason to increase female labor force participation. Rasmane Ouedraogo and Idrissa Ouedraogo are coauthors of Gender Equality and Electoral Violence in Africa: Unlocking the Peacemaking Potential of Women  

As the average annual global temperature is expected to rise by 4 degrees Celsius or more by 2100, economic output in countries with hot climates continues to fall. And given that most low-income countries are located in hot regions, low-income countries are bearing the brunt of the negative economic costs of climate change even though they contribute very little to the greenhouse gas emissions that cause it. In this podcast, IMF economists Sebastian Acevedo and Natalija Novta say the increasing frequency and severity of natural disasters is having a negative impact on growth. Acevedo and Novta are coauthors of Weather Shocks and Output in Low-Income Countries:Adaptation and the Role of Policies

Migration is on the front burner these days. We hear a lot about people moving from one country to the next, fleeing conflict or seeking a better life. But what about the movement of people within a country? Economist Tamim Bayoumi says a well-functioning economy has people moving around to maximize their own welfare and in turn maximize the system; a basic tenant of market economics. Bayoumi is coauthor of Stranded! How Rising Inequality Suppressed US Migration and Hurt Those “Left Behind. In this podcast, Bayoumi says increasing house price and income inequality has reduced long distance migration, the type most linked to jobs. Tamim Bayoumi is Deputy Director in the IMF’s Strategy, Policy and Review Department.  

July was the hottest month on record according to the National Oceanic and Atmospheric Administration. Scientific research now indicates more clearly than ever that our growing carbon footprint is warming the planet at an alarming rate and threatening our ecosystems. In this podcast, economist Ralph Chami, and whale conservationist Michael Fishbach, explain the carbon capture potential of whales and how supporting international efforts to restore whale populations around the world is one of the simplest ways to fight climate change. Ralph Chami’s article Whales Fight Climate Change in the online edition of Finance and Development Magazine.

Being diagnosed with a serious illness is a shock to the system, and treatment and recovery can mean major disruptions in a person’s life. But illness also takes millions of people out of the labor force every year and the quality of the care they receive can determine the extent to which this is a shock to the economy. IMF economist Nicola Pierri, with coauthors Anne-Line Koch Helsø and Adelina Yanyue Wang have published a research paper on The Economic Impact of Healthcare Quality. In this podcast, Pierri says low quality hospitals can wind up being very costly to both people and the economy at large.

In his latest book, Raghuram Rajan takes a close look at the relationship between the state, markets and communities, and argues localism is the answer to globalization. Rajan is a distinguished professor of finance at the University of Chicago, former head of India’s central bank and former Chief Economist at the IMF, where he was invited to talk about The Third Pillar: How Markets and the State Leave the Community Behind

The use of digital technologies is transforming how tax administrations operate, helping to improve efficiency and service delivery. A striking example has been Peru's adoption of electronic invoicing, which allows the automatic transfer of billing information between firms and the tax authority. Drawn by its potential to strengthen tax compliance and reduce costs, Peru is among more than 50 countries around the world to have implemented e-invoicing and many others are preparing to follow suit. IMF economists Salma Khalid and Matthieu Bellon have been studying the impact of Peru's mandatory e-invoicing reform that started back in 2014. Their research paper will be published this fall. Salma Khalid is an economist in the Western Hemisphere Department and Matthieu Bellon is an economist in the Fiscal Affairs Department at the IMF.

Technological innovation like automation using robots to produce goods and provide services creates tremendous opportunities for businesses. But as the cost of producing robots goes down, is this technology widening the income gap? Economist Arnaud Costinot has been studying technological change and its impact on inequality, and in this podcast, he discusses how a robot tax might help better distribute the benefits of artificial intelligence, or AI technologies. Arnaud Costinot is a Professor of Economics at MIT, and coauthor of Robots, Trade, and Luddism: A Sufficient Statistic Approach to Optimal Technology Regulation. Costinot was invited to present his research at the IMF.

International corporate tax avoidance is a growing concern for both advanced economies and low-income countries. The changing nature of the global economy–notably increasing digitalization, in some cases, is making it easier for firms to shift profits to low-tax countries. Michael Keen is a Deputy Director in the IMF’s Fiscal Affairs Department, and in this podcast he says the international tax system is under unprecedented stress. Keen was a lead author of a recent IMF policy paper that sets out the current state of the international corporate tax system and explores ways to address some of its shortcomings.

When it comes to environmental policies, Ian Parry argues none are more effective than carbon taxes. Parry, an expert on fiscal policy and climate change at the IMF, says carbon taxes promote a full range of responses for reducing emissions–like switching from coal to clean generation fuels, reducing the demand for electricity, transportation fuels, and so on and can be administratively straightforward to implement. Parry is author of several research papers on carbon taxation and his recent article What Is Carbon Taxation? is published in the June 2019 edition of Finance and Development Magazine. Ian Parry is the principal environmental fiscal policy expert in the IMF’s Fiscal Affairs Department.

Global value chains break up the production process so that different steps can be carried out in different countries. In the past, a country had to master the production of a whole manufactured product to export it, which rarely happened. With value chains, a country can specialize in one or several activities in which it has a comparative advantage. In this podcast, David Dollar says he’s seen Asia’s economies transformed by value chains in recent years. Before joining Brookings as Senior Fellow at the China Center, Dollar was World Bank Country Director for China and represented the US Treasury in Beijing. Dollar’s recent article on value chains Invisible Links is published in the June 2019 edition of Finance and Development Magazine. Check out the Dollar and Sense podcast at Brookings.edu

Debt is at record levels around the world. 40 percent of low-income countries are wrestling with debt distress or high-risk debt levels and for a few countries in sub-Saharan Africa the debt crisis has already materialized. Fanwell Kenala Bokosi is the Executive Director for the African Forum and Network for Debt and Development, or AFRODAD. In this podcast, Bokosi says the nature of Africa’s debt has changed in recent years, making it more difficult to find solutions for debt sustainability problems. Fanwell Bokosi joined a panel on Tackling Debt during the 2019 IMF-World Bank Spring Meetings

The main objective of the Paris agreement signed by 190 countries in 2015, is to reduce carbon emissions and ensure a transition to low emissions economies. A new IMF paper looks at the role of fiscal policies in helping countries implement their climate strategies. Andrew Steer, President and CEO of the World Resources Institute joined a panel to discuss the paper at the Center for Global Development. Before joining WRI, Steer held senior positions at the World Bank and was the Chief Author of the landmark 1992 World Development Report that placed environmental economics front and center. In this podcast, Steer says carbon emissions need to be dramatically cut from the global economy to avoid dangerous climate change, and carbon pricing can help do that. Read the paper: Fiscal Policies for Paris Climate Strategies

In 2018, African Union members established the African Continental Free Trade Area in an effort to boost regional trade. They agreed to eliminate tariffs on most goods, liberalize the trade of services and address obstacles to trade between African countries. The African free trade agreement has since been ratified by 22 countries and is likely to take effect later this year. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa studies the potential impact of the agreement that will establish a market of 1.2 billion people with a combined GDP of US$2.5 trillion dollars. In this podcast, economists Reda Cherif and Geremia Palomba say this could be an economic game changer for the continent. Geremia Palomba is a Deputy Division Chief and Reda Cherif is a Senior Economist in IMF’s African Department.

Nature and economic progress often have a conflicting relationship. In this podcast, lifelong champion of the natural world Sir David Attenborough joins IMF Managing Director Christine Lagarde for a tête à tête on how economic growth and the economies of nature can work together to preserve life on earth. While the world’s natural resources make life and industry possible, the demands of a growing economy are putting unsustainable pressures on our climate and vital ecosystems. In his broadcasting career spanning over six decades, Sir David Attenborough has connected people to the wonders of the natural world through visually stunning documentaries like The Blue Planet, and more recently Our Planet; the quintessential guide to the economy of nature. David Attenborough and Christine Lagarde met before a live audience during the IMF World-Bank Spring Meetings.

There is a strong link between the ups and downs of home prices around the world and the global economy. The latest Global Financial Stability Report takes a deep look into what the latest trends in the housing sector might tell us about vulnerabilities within in the financial system. Claudio Raddatz leads the IMF’s Global Financial Stability Analysis team, and in this podcast, he says a high share of financial crisis in recent decades have been preceded by boom-bust patterns in the housing sector. Read the IMF BLOG

Achieving inclusive growth is one of the critical challenges of our time. In this podcast, IMF Managing Director Christine Lagarde opens a public discussion between IMF Chief Economist, Gita Gopinath, World Bank Chief Economist, Pinelopi Koujianou Goldberg and OECD Chief Economist, Laurence Boone, about how to ensure economic growth benefits the many and not only the few. In her introduction, Lagarde points out that it’s a first for these three multilateral institutions to have women Chief Economists at the same time. The seminar entitled Income Inequality Matters took place during the IMF World-Bank Spring Meetings. Gita Gopinath is the Economic Counsellor and Director of the Research Department at the IMF. Pinelopi Koujianou Goldberg is the Chief Economist of the World Bank Group. Laurence Boone is the OECD Chief Economist, G-20 Finance Deputy and Head of the economics department.

Corruption leeches money from citizens and taxpayers and corrodes trust in government. In this podcast, Transparency International’s Chairperson in Jordan, Sawsan Gharaibeh, talks about how governance weaknesses in some countries in the Middle East have undermined economic growth and kept the region on the lower end of the Corruption Perception Index. Gharaibeh was invited to join a panel on curbing corruption at the IMF World-Bank Spring meetings. Check out the latest Fiscal Monitor on Curbing Corruption

A third of countries in sub-Saharan Africa are currently involved in conflict or experiencing post-conflict tension, forcing an estimated 18 million people away from their homes and livelihoods. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa provides an in-depth analysis of conflict trends and the socio-economic challenges faced by countries in the region. Economists, Siddharth Kothari and Mahvash Saeed Qureshi spearheaded the study. In this podcast, they say conflicts strain public finances and shift scarce resources away from social and developmental spending, accentuating their debilitating consequences. Mahvash Saeed Qureshi is a Deputy Division Chief and Siddharth Kothari is an economist in the Regional Studies Division of the IMF’s African department.

A key objective of the IMF is to pick up on trends that could potentially compromise economic stability, and the Global Financial Stability Report is designed to help do just that. Fabio Natalucci heads the team of economists who write the biannual publication known as the GFSR. In this podcast, Natalucci says the latest report shows financial stability risks are higher than they were six months ago, due in part to rising corporate debt. Read the IMF BLOG Fabio Natalucci, is Deputy Director in the IMF's Monetary and Capital Markets Department.

The notion of citizenship is relatively recent in our history. It was only in the 19th century with the birth of the nation-state that came the need to establish a legal distinction between those who belonged to the state and those who didn’t. But being a national or a foreigner influences one’s financial decisions, which can have a significant impact on a country’s economic development. In this podcast, IMF economist Patrick Amir Imam says while some citizenship laws help boost growth others can create conflict and instability. Imam is the representative of the IMF in Zimbabwe, and co-author of Citizenship and Growth, published in the March 2019 edition of Finance and Development Magazine.

Risk analysis is an important element in growth forecasting, and detecting vulnerabilities within the global financial system helps policymakers mitigate risks. In an effort to broaden the scope of its risk analysis, the IMF developed a new open-source tool that looks at the entire distribution of future GDP growth rather than the traditional point forecasts. The tool is now shared on GitHub, one of the world’s biggest software development platforms. Prasad Ananthakrishnan heads the strategy and planning unit in the IMF’s Monetary and Capital Markets department, and helped develop the Growth at Risk forecasting tool, as it is known. In this podcast, Ananthakrishnan says making the tool available to other economists on Github will make it better over time and help demystify the forecasting process Economists around the world can contribute to the development of the IMF's new open-source global financial risk analysis tool. (iStock by Getty images/akindo)

Immigration can put extra pressure on governments to fund social programs, especially in times of slow economic growth. In this podcast, Political Scientist Charlotte Cavaille, says rising populism in some countries is fueling a debate about who should have access to government funded programs. Cavaille studies immigration and public opinion toward the welfare state, and was invited by the IMF’s Institute for Capacity Development to present her research on immigration, redistribution, and the electoral success of far-right populism.

The effects of copyright and patent laws on artistic creativity and technological innovation are gaining more and more significance in today’s economy driven to a large part by content. Economic historian Petra Moser uses data from 19th century Italian operas and world fairs to examine the economic implications of basic copyright and patent protection for innovators. In this podcast, Moser describes how Napoleon’s military victories in Italy in the late 1700s changed the copyright landscape and created an excellent model to study the effects on Italian opera composers. Petra Moser is an associate professor of Economics at New York University, and was invited by the IMF’s Institute for Capacity Development to present her research on the economic impact of creativity and innovation. Petra Moser is an economic historian at the Stern School of Business, New York University. You can find all of her research papers at PetraMoser.net.

While sub-Saharan Africa has lagged behind the rest of the world in access to finance, some countries in the region are bucking the trend thanks to advancements in financial technology known as Fintech. Mobile technology has made sub-Saharan Africa the global leader in mobile money transfer services, helping provide financial services to millions previously off the formal financial grid. A new IMF study shows Fintech is emerging as a technological enabler, improving financial inclusion and serving as a catalyst for innovations in other sectors. In this podcast, economist Amadou Sy, says Fintech could be a real game changer for the region. Sy is an Advisor in the African Department at the IMF, and headed this new research on the impact of Fintech in Sub-Saharan African Countries. Amadou Sy, is an Advisor in the IMF’s African Department.

For many countries, broadening access to basic services like education and healthcare is fiscally daunting. Economies in developing countries are often informal for the most part, making it difficult for governments to collect the taxes that ultimately fund these programs. In this podcast, IMF economist David Coady says good policy decisions will help countries find the resources they need to strengthen their social safety nets. Coady is a social spending expert in the IMF’s Fiscal Affairs Department, and author of Creating Fiscal Space featured in the December 2018 edition of Finance and Development Magazine. David Coady heads the Expenditure Policy division in the IMF’s Fiscal Affairs Department.

There’s been a huge surge in data usage across all sectors of the economy of late. And in the financial sector, recent research by MIT’s Maryam Farboodi shows that while data resolves some risk for investors, it also creates risk. In this podcast, Farboodi talks about how big data is disproportionally benefiting the larger firms and how the distributional aspects of data may be exacerbating inequality. Maryam Farboodi is an Assistant Professor of Finance at the MIT Sloan School of Management, her research on Data in Finance has been published in the National Bureau of Economic Research. Farboodi was invited to speak at the IMF’s Institute for capacity Development.

The changing nature of work is turning traditional employment on its head. More and more people are working in the gig economy or in jobs without formal employment contracts, and the payroll-based industrial-era social insurance policies are no longer providing the safety net for which they were designed. Michal Rutkowski oversees the World Bank’s work in developing systems that protect the most vulnerable sectors of society, and helped produce the 2019 World Development Report on the Future of Work. In this podcast, Rutkowski says 70 percent of the world’s population is now in the informal labor market without the means to contribute to health care insurance or pension plans. Rutkowski is author of Reimagining Social Protection featured in the December 2018 edition of Finance and Development Magazine. Michal Rutkowski is Senior Director for Social Protection and Jobs at the World Bank Group.

Technology is quickly changing the nature of work. Full-time employment with health care and a pension is being replaced with short-term contracts with no benefits, leaving workers exposed. Sharan Burrow has been General Secretary of the International Trade Union Confederation since 2010, and a champion of workers rights in the age of technology. Burrow joined a panel on social protection and the future of work during the 2018 IMF-World Bank Annual meetings. The IMF’s David Pedroza sat down with Sharan Burrow in Bali, Indonesia, where the meetings took place.

Advances in technology are already shaking up the landscape for jobs in many regions around the world. But with its rapidly growing population, sub-Saharan Africa stands to be particularly impacted by the wave of technological innovation known as the Fourth Industrial Revolution. The latest Regional Economic Outlook for sub-Saharan Africa looks at how technology and other factors like climate change and trade might affect the region’s job market. Economist Axel Schimmelpfennig led the study on the future of work, and in this podcast he says one of the challenges for the region is to support those workers who are being dislocated by technological change. This new research will be discussed at the Future of Work in Sub-Saharan Africa conference in Ghana, Dec. 17, 2018. Axel Schimmelpfennig is a Division Chief, and heads the Uganda team in the IMF’s Africa department.

The human instinct to trade goes back thousands of years, and Sir Barry Cunliffe has been digging up evidence of those first steps toward today’s globalized world throughout his long career as one of Europe’s most highly respected archaeologists. Sir Cunliffe is an Emeritus professor at Oxford University and a Commissioner of English Heritage. He was invited to speak to economists as part of the IMF Futurist Series, designed to bring outside views to the Fund and spark new ideas. In this podcast, Sir Barry Cunliffe says cultural and economic values should be one and the same. His latest book By Steppe, Desert, and Ocean is published by Oxford University Press. Sir Barry Cunliffe served as President of the Society of Antiquaries, Governor of the Museum of London, and a trustee of the British Museum. He received a knighthood in 2006. (photo: B540/Guillem Lopez/Photoshot/Newscom)

As the world becomes more interconnected and economies more integrated, the role of communications and journalism is increasingly important. But cutting through all the noise is not always easy. In this podcast, legendary Financial Times journalist, Martin Wolf, sits down with the head of IMF communications, Gerry Rice, to talk about the state of global cooperation and the corrosion of trust. Wolf has been reporting on the global economy for over three decades, and his writing influenced policymakers during the global financial crisis. Their conversation was recorded during the IMF-World Bank Annual Meetings in Bali, Indonesia. Martin Wolf’s book The Shifts and the Shocks is published by Penguin books.

In the wake of the global financial crisis and with low interest rates lingering in most advanced economies, investors have increasingly been looking at Africa for investment opportunities. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa examines what this spectacular increase in capital flows means for the region. In this podcast, economist Mahvash Saeed Qureshi says the recent rise in investment capital offers a lot of opportunities but also carries risks. Qureshi led the research team that wrote the report.  Mahvash Saeed Qureshi is a Deputy Division Chief in the IMF’s African department. Photo: Global factors such as U.S. interest rates and commodity prices have a direct impact on capital flows to sub-Saharan Africa. (iStock by Getty Images/fotopoly)

There is a growing body of research that shows that more women in the labor force means higher economic growth, and for longer periods. And while some sectors have made progress in breaking down gender barriers, the rise of technology in others presents new challenges for women. Vera Songwe is the first woman to head the U.N.’s Economic Commission for Africa, and in this podcast, Songwe says African women are especially disadvantaged in the technology sector because they often don’t have access to the internet. Songwe talked to IMF’s Angela Gaviria while attending the IMF-World Bank Annual meetings in Bali, Indonesia. Read the IMF blog

While countries around the world scramble to find new revenue streams, it turns out most are sitting on wealth they don’t even know they own. The IMF’s Fiscal Monitor launched in October, analyses public wealth in 31 countries to find their assets worth $101 trillion or 219 percent of GDP. Dag Detter is a specialist in public commercial assets, and works as an adviser to local and national governments to help make their public assets work for the benefit of their citizens. In this podcast, Detter says countries could easily double the amount of money available for infrastructure if assets were properly managed. Detter is co-author of Unlocking Public Wealth, featured in the March 2018 edition of Finance and Development Magazine. Dag Detter and Stefan Folster's book The Public Wealth of Nations is published by Palgrave Macmillan. PHOTO: The city of Boston is one of many cities worldwide to underestimated the value of its public assets. (iStock by Getty images)

Not everyone benefits equally from strong economic growth. And while most economists focus on optimizing policies to produce higher growth, economist Jonathan Ostry argues that it is how the benefits from that growth are distributed that will ultimately determine whether the growth will last. Ostry is deputy director of the IMF’s Research Department, and says the supply-side policies­ commonly prescribed by economists to increase growth often benefit disproportionately the wealthier segments of society and result in economies that are less resilient. Jonathan Ostry is author of several books and articles on inequality, including Growth or Inclusion? featured in the June 2018 edition of Finance and Development Magazine. Ostry’s latest book Confronting Inequality, which he coauthored with IMF colleagues Prakash Loungani and Andrew Berg, is published by Columbia University Press.

The IMF-World Bank Annual meetings bring together people from around the world to discuss issues that affect the global economy. This year’s meetings were held in Bali, Indonesia, and one issue at the top of the agenda was the rising backlash to globalization by workers who feel they’re losing jobs to trade and immigration. Roberto Azevêdo, Director General of the World Trade Organization dispels those claims, and in this podcast, the IMF’s Camilla Andersen asks Azevêdo why he thinks international trade has been under fire of late. PHOTO: Roberto Azevêdo, World Trade Organization’s Director General, says trade and immigration should not be blamed for employment woes. (IMF photo)

Le dernier rapport du FMI sur les perspectives économiques régionales indique que la croissance s’accélère, grâce en partie, à la hausse du cours des produits de base. »En fin, la raison pour laquelle la croissance augmente c’est par ce que les pays exportateurs de pétrole se remettent peu à peu de ce choc avec le bénéfice des prix plus élevés du pétrole.» Papa N’Diaye, dirige la division des études régionales au département Afrique du FMI, et il dit que tandis que la perspective macroéconomique pour l'Afrique subsaharienne continue à se renforcer–merci aux réformes en cours et la croissance mondiale plus forte, les taux de croissance ne répondent toujours pas au besoin réel de la région. N’Diaye a supervisé la rédaction de cette nouvelle perspective économique régionale. Photo: Et maintenant? La croissance en Afrique subsaharienne reste trop faible pour créer suffisamment d’emplois pour absorber l’augmentation rapide de sa population active. (iStock by Getty Images/peopleimages)

Oil prices have bounced back somewhat but the IMF's latest Regional Economic Outlook for Sub-Saharan Africa shows why energy exporters shouldn’t get too comfortable. "The level of oil prices that we see currently don’t imply growth rates in the future that are high enough, and that are anywhere near what we had seen before the oil slump.” Papa N’Diaye is head of research in the IMF’s African Department, and in this podcast, he says while the macroeconomic outlook for sub-Saharan Africa continues to strengthen­–thanks to ongoing reforms and stronger global growth, growth rates still fall short of what the region really needs. N’Diaye oversaw the writing of this latest regional economic outlook. Photo: Now What? Growth rates in sub-Saharan Africa are too low to create enough jobs for its growing labor force. (iStock by Getty Images/peopleimages).

The IMF’s Global Financial Stability Report is a weather vane of sorts. It’s main objective is to spot shifting trends that could pose risks to the global financial system. Ten years ago, a volatile market and the subsequent collapse of a Wall Street investment firm led to a financial crisis that affected economies around the world. In this podcast, Fabio Natalucci says while that crisis is now well behind us, some dark clouds are gathering on the horizon. Natalucci heads the team of economists who write the overview chapter of the GFSR. Fabio Natalucci, is Deputy Director in the IMF's Monetary and Capital Markets Department.

In Japan, deaths outnumber births by 1,000 people per day on average. The population in some regions is now smaller than what it was in the 1950’s. The combination of its rapidly declining labor force—expected to fall even faster than the overall population, and the limited influx of immigrants, creates a powerful incentive for robots and artificial intelligence. In this podcast, IMF economists Todd Schneider and Gee Hee Hong say Japan has no choice but to embrace robots and automation to help the shrinking workforce become more productive. Schneider and Hong coauthored Land of the Rising Robots, an article featured in the June 2018 edition of Finance and Development Magazine. Todd Schneider, is a Deputy Division Chief, and Gee Hee Hong, is an economist, both in the IMF’s Asia and Pacific Department.

Jamaica’s economic reform plan launched back in 2013, has shown promise. Employment is at historic highs and external borrowing costs are lower than they’ve ever been. But economic growth is still slow, and the recent depreciation of the Jamaican dollar has turned attention to a shift in the Bank of Jamaica’s foreign exchange policy. In this podcast, economist Uma Ramakrishnan, says the central bank’s renewed commitment to its flexible exchange rate regime will help stabilize prices and spark growth. Ramakrishnan heads the IMF team for Jamaica. Uma Ramakrishnan is a Division Chief in the IMF’s Western Hemisphere Department and heads the team for Jamaica.

It’s been ten years since Lehman Brothers—one of the largest firms on Wall street, was wiped out and closed its doors. Only two weeks before it filed for bankruptcy it held more than 600 billion dollars in assets. The fall of Lehman’s turned a volatile financial market into a full-blown panic and is widely seen to be what triggered the global financial crisis in 2008. In this podcast, IMF Managing Director, Christine Lagarde looks back at one of the most disruptive events in history for the global financial system.  

Few would argue that workers’ remittances—the money migrants send to family in their home country—improve the lives of millions of people. Remittances amounted to over $400 billion last year. That’s somewhere between official development assistance and foreign direct investment in terms of size. These massive financial flows have important consequences for the economies that receive them. But in this podcast, IMF economist Ralph Chami says remittances can also have a negative impact on growth. Chami is coauthor, with Ekkehard Ernst, Connel Fullenkamp, and Anne Oeking, of Is There a Remittance Trap featured in the September 2018 edition of Finance and Development Magazine. Ralph Chami, is an assistant director in the IMF’s Institute for Capacity Development.

Chaque pays en Afrique subsaharienne a son propre ensemble de défis et de possibilités, La communauté internationale a beaucoup investi ces dernières années à savoir comment augmenter la croissance économique de la région, mais la majorité des Africains diraient que le développement de l’Afrique reste entre les mains de ses jeunes entrepreneurs. Mame Khary Diène est une de ces entrepreneurs du Sénégal, où elle transforme les graines de l'énorme arbre de Baobab en huiles exotiques pour la peau. L’huile de Baobab fabriqué par son entreprise est recherchée dans le monde entier. Mame Khary Dienne a été invité à parler de l'investissement privé en Afrique au cours des réunions de Printemps du FMI et de la Banque Mondiale. Mame Khary Diène, fondatrice et directrice générale de Bio essence.

Each country in sub-Saharan Africa has its own set of challenges and opportunities. And while the international community puts a lot of resources toward trying to figure out how best to keep the region’s economies growing, most Africans would say that Africa’s development lies in the hands of its own young entrepreneurs. Mame Khary Diène, is one such entrepreneur from Senegal, where she found her first business opportunity in the form of seeds from the enormous Baobab tree–Senegal's national symbol. Diène was invited to join a panel discussion about private investment in Africa during the 2018 IMF World-Bank Spring meetings, and in this podcast she says small businesses are key to creating jobs for Africa’s expanding workforce. Mame Khary Diène is Founder and CEO of Bio essence. The IMF's latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter on private investment.    

It’s been almost 25 years since the end of apartheid, the system of institutionalized racial segregation that left most South Africans with limited access to basic services. The post-apartheid years saw remarkable progress in poverty reduction, access to education and healthcare and reducing unemployment. But some of those early achievements have unwound recently amid slow growth and political uncertainty. The IMF’s latest assessment of South Africa’s economy projects real GDP growth will stay slightly below 2 percent in the medium term, not enough to increase living standards or make a dent in unemployment. Ana Lucia Coronel heads the IMF team for South Africa, and in this podcast Coronel says fighting corruption and improving education will help revive economic growth. Ana Lucia Coronel is IMF Division Chief for the Southern Africa region and heads the team for South Africa.

Illicit financial flows have been under the spotlight recently. Both the Panama and subsequent Paradise papers exposed large amounts of money held in tax havens—some under questionable circumstances, and the United Nations has included tackling illicit financial flows as a target within its Sustainable Development Goals. In this podcast, the Center for Global Development’s Maya Forstater talks about how much or how little we really know about illicit financial flows. Forstater was invited to speak at the IMF as part of the Developing Economies Seminar Series. Maya Forstater is a Visiting Fellow at the Center for Global Development.

Le dernier rapport du FMI sur les perspectives économiques régionales de l’Afrique subsaharienne indique qu’avec l’adoption des bonnes politiques, la région pourrait globalement accroître ses recettes publiques de jusqu’à 5 % du PIB. Alex Segura est chef de mission pour le Gabon et il a dirigé l’équipe qui a écrit le chapitre sur la mobilisation des recettes fiscales en Afrique subsaharienne. Dans ce podcast, Segura explique que les gens sont plus susceptibles de se conformer à leurs obligations s’ils sont convaincus que le fisc est équitable. Alex Segura est conseiller au département Afrique du FMI.

The latest Regional Economic Outlook for sub-Saharan Africa suggests better policy design could help countries increase tax revenues by as much as 5 percent of GDP. Alex Segura heads the IMF team for Gabon, and led the team of economists who wrote the chapter on raising revenues in the report. In this podcast, Segura says when people perceive that the tax system is fair, they’re much more likely to accept their tax obligations. Alex Segura is an Advisor in the IMF’s African department.

Studying the market for salt in 19th century India and the effects on trade of a railroad built 150 years ago led economist Dave Donaldson to important new findings that are relevant today. Donaldson was the 2017 John Bates Clark Medalist, awarded for the most significant contributions by an economist under the age of 40. In this podcast, Donaldson talks about his work on trade and how it benefits economic welfare. A profile of Dave Donaldson, Sherlock of Trade is featured in the June 2018 edition of Finance and Development Magazine. Dave Donaldson is professor of economics at the Massachusetts Institute of Technology.

As economic advisor to the government of India, Arvind Subramanian helped design the country’s goods and services tax. In July of last year, the national GST replaced the patchwork of value-added, sales, and excise taxes levied by 29 states and the federal government. In this podcast, Subramanian discusses the benefits of the new tax with the IMF’s Chris Wellisz. He says the tax helped create a single internal market for the first time since independence. Their conversation is also featured in the June 2018 edition of Finance and Development Magazine. Arvind Subramanian, Chief Economic Advisor to the government of India

Estonians rarely stand in line for anything anymore. Estonia ranks among the most digitally advanced countries in the world and virtually all government services are now offered online. Estonia is also where Skype was born. In this podcast, Estonia’s Chief Information Officer, Siim Sikkut talks about how technology has transformed Estonia’s economy, and an e-residency program that is wooing more start-ups. Read more about Estonia’s remarkable digitalization process in the March 2018 issue of Finance and Development Magazine. Siim Sikkut is Estonia’s Chief Information Officer.

With public debt on the rise in sub-Saharan Africa, boosting the private sector has become more important than ever. Zhi Yong Heng is a private investor for TLG Capital, an investment firm that focusses on equity opportunities in Africa. In this podcast, Heng says investors are missing out on great investment opportunities because of misperceptions of the risks and the business environment in the region. The latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter on private investment. Zhi Yong Heng is Head of Special Situations at TLG Capital

The latest Regional Economic Outlook for Sub-Saharan Africa shows a modest uptick in growth largely driven by stronger global growth and higher commodity prices. In this podcast the IMF’s Papa N’Diaye, says it’s time to implement reforms that will firm up the recovery. The study shows growth picking up from 2⅔ percent in 2017 to 3½ percent in 2018. N’Diaye heads the team of IMF economists who write the report and he says the uptick is good news for the region which has been experiencing a slowdown in economic growth over the last few years.

When people trust their government, good things happen. They’re much more likely to pay their taxes and support those large infrastructure investment projects that help economic growth. A new IMF paper on the institution’s role in governance issues shows that high corruption means less growth and more inequality. In this podcast, Lea Giménez Duarte talks about how Paraguay has benefited from a transparency law introduced in 2015. Giménez Duarte is Paraguay’s first ever woman finance minister, and joined a panel about transparency and corruption during the IMF World-Bank Spring Meetings.     Lea Giménez Duarte is Paraguay’s Finance Minister

The Global Financial Stability Report, or GFSR, is published twice a year and looks at the risks facing the global financial system. The objective is to prevent future crises by highlighting policies that might help mitigate some of those risks. In this podcast, the IMF’s Fabio Natalucci suggests investors stay attuned to risks associated with rising interest rates and protectionism. Natalucci heads the team of economists who write the overview chapter of the GFSR. The report also looks at crypto-assets for the first time. Fabio Natalucci, is a Deputy Director in the IMF's Monetary and Capital Markets Department.

While the word hack sounds nefarious there’s nothing sinister about a hackathon. It is a creative brainstorming event that brings together people from the private sector, government, academia, civil society and technical experts to devise solutions to help governments raise revenues. In this podcast, economist Katherine Baer talks about her recent experience in hackathons in Senegal, Uganda and Ivory Coast, and how new technologies can help those governments collect more taxes.  Katherine Baer, Division Chief, IMF Fiscal Affairs department.

Economic shocks and climate change increase the risk of conflict. If current trends continue, 80 percent of the world’s poorest people will live in fragile states by the year 2030. This means the work of development will increasingly be about how to prevent conflict and how to achieve positive change in post-conflict and fragile states. In this podcast, DfID’s chief economist Rachel Glennerster, says economists need to get better at understanding these risks and predicting conflict. Before joining the UK’s Department for International Development, Glennerster was Executive Director of the Abdul Latif Jameel Poverty Action Lab. She was invited to speak at the IMF where she once worked as an economist. Rachel Glennerster, Chief Economist of the United Kingdom’s Department for International Development- DfID.

Some economists would argue that extreme weather can increase criminal behavior by reducing incomes—especially in the agriculture sector. But in this podcast, economist Gordon McCord says the psychological effect of higher temperatures on violent behavior plays a prominent role. McCord is coauthor of a study that uses data from homicides in Mexico spanning 15 years, and considers the impact of a cash transfer program on reducing interpersonal violence on hot days. He presented his research at the 2018 American Economic Association’s Annual Meeting in Philadelphia.   Gordon McCord, is assistant Professor at the School of Global Policy and Strategy at the University of California in San Diego. https://twitter.com/gcmccord

Promoting gender equality can be an economic game changer. The IMF’s latest economic review of Nigeria’s economy says closing the gender gap would mean higher growth and productivity, and greater economic stability. In this podcast, IMF economist and coauthor, Monique Newiak, says Nigerian women could help transform the economy given the chance. The report says Nigeria suffers from wide-spread gender inequality and is therefore missing out on a key ingredient to economic success. Newiak says reducing gender inequality could boost growth by one and one-quarter percent on average. Monique Newiak, is an economist in the IMF’s Africa department and coauthor of Nigeria’s latest economic review, that includes a study on The Macroeconomic Costs of Gender Inequality in Nigeria.

Nigeria’s economy is picking up according to the IMF’s latest economic review. Growth hit 0.8 percent in 2017 after contracting by 1.6 percent in 2016. The report attributes the increase—in part—to the recent recovery in oil prices. But as the country emerges from recession, the IMF’s Amine Mati says following through on planned reforms regardless of oil price swings and upcoming elections, is key to lifting Nigeria’s growth rates to where they should be. Mati heads the IMF team for Nigeria and oversaw this latest economic assessment. Amine Mati, International Monetary Fund's mission chief and senior resident representative in Nigeria.

Major discoveries of oil and gas deposits have always been cause for celebration in developing countries, in anticipation of the potential financial windfall. But research has shown that countries with abundant revenues from natural resources often tend to have less economic growth and more social problems than do non-resource-rich countries. And in this podcast, World Bank economist James Cust says in many cases, economic growth begins to underperform long before the first drop of oil is ever produced. Cust and David Mihalyi of the Natural Resource Governance Institute, coauthored The Presource Curse, published in the December 2017 edition of the IMF’s Finance and Development magazine. James Cust is an economist in the Office of the Chief Economist for Africa at the World Bank and an external research associate at the University of Oxford.

Incomes for Europe’s youth declined after the 2007 global financial crisis—largely due to unemployment. And while things have recovered somewhat, the trend toward short-term work and less stable jobs has meant incomes have not grown and young people are now more likely to fall into poverty. Meanwhile, Europeans 65 and older have seen incomes increase by 10 percent. New research by IMF staff looks at this Growing Inequality and Poverty Across Generations in Europe, and how it could have long term effects on Europe’s economy. In this podcast, coauthor Alexander Pitt says when the young are better off, we’re all better off. Alexander Pitt, Senior Economist in the IMF’s European department, and co-author of A Dream Deferred: Inequality and Poverty Across Generations in Europe.

In the new world of lower commodity prices, many sub-Saharan African countries are having to diversify their economies. And while sub-Saharan Africa has had periods of rapid growth, the process by which workers move from low-productivity jobs to better paying higher productivity jobs has been slower than in other regions. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter to studying the potential benefits of a stepped-up diversification agenda. In this podcast, co-author Axel Schimmelpfennig says Africa’s young entrepreneurs should be at the heart of the diversification process. Axel Schimmelpfennig, IMF Mission Chief for Uganda

Populism has become a bit of a buzz word of late. It’s often at the very center of debates about politics and elections. But what about the economic implications of populism? That was the subject of a seminar at this year’s American Economic Association’s Annual Meeting. The panel was organized by the IMF’s Antonio Spilimbergo, and included economic heavyweights Dani Rodrik, Raghuram Rajan, and political scientist Cristóbal Rovira Kaltwasser. In this Podcast, Kaltwasser says populism is creeping into economic policy.   Cristóbal Rovira Kaltwasser is an Associate Professor in Political Science at Diego Portales University in Chile, and co-author of Populism: A Very Short Introduction.

While technology is reshaping economies around the world, a recent book published by the World Bank suggests developing countries are missing out on a huge opportunity. In this podcast, economist William Maloney, says the potential returns on investment into Research and Development by developing countries are astounding, and could dwarf international aid flows. Yet, developing country firms and governments invest very little toward realizing this potential. Maloney is Chief Economist for Equitable Growth, Finance and Institutions in the World Bank Group, and co-author of The Innovation Paradox. He was a guest lecturer at the IMF’s Developing Economies Seminar Series.   William F. Maloney is Chief Economist for Equitable Growth, Finance and Institutions in the World Bank Group

There are many layers to development. Sometimes there’s a need where the solution is not at all obvious. But other times it’s simply about connecting the dots- when the solution is available but out of reach due to the lack of infrastructure like roads, power lines or telephone wires. Technology is helping connect those dots more than ever before, and the phenomenon has come to be known as leapfrogging. In this podcast, we hear from the people behind Zipline, a start-up that uses drones to make emergency blood deliveries to remote clinics in Rwanda. Keller Rinaudo, Founder and CEO of Zipline, and Matthew Steckman, Chief Revenue Officer.

Gross domestic product, or GDP, is the one statistic that almost everyone knows is used to measure economic growth. But in this podcast, economist Diane Coyle suggests GDP may be a poor measure of prosperity. With all the technological advances in recent years one would expect that economies have become more productive. But when measured in GDP the numbers show the opposite is true. Coyle refers to this phenomenon as the productivity puzzle, and says the mismeasurement of digital activities within the economy has a lot to do with it. Coyle is Professor of Economics at the University of Manchester, and spoke at the IMF Statistical forum on Measuring the Digital Economy.   Diane Coyle, Professor of Economics at the University of Manchester, and author of GDP: A Brief but Affectionate History Read her blog The Enlightened Economist

2 years after 195 countries came together under the Paris Agreement to combat the effects of climate change, leading climate economist Nicholas Stern remains cautiously optimistic. In his landmark report on the impact of climate change published in 2006, Stern warned that the cost of inaction would be far greater for future generations than the costs of actions taken to reduce carbon emissions. In this podcast, Stern says while the world “passed the test” when signing the Paris Agreement, he worries that policy makers will not act quickly enough. Stern joined a panel discussion on the economic and financial issues related to climate change at the IMF World-Bank Annual meetings. Nicholas Stern, Professor of Economics and Government at the London School of Economics, and Chairman of its Grantham Research Institute on Climate Change and the Environment.

Blockchain technology is a shared, public ledger of transactions that’s open to inspection but not subject to any form of central control. And while it offers potential for a variety of applications, its most famous is providing the platform for virtual currencies like bitcoin. Peter Smith is co-founder and CEO of Blockchain, and in this podcast, he talks about the evolution of crypto currency financial systems and what it could mean for big data analytics. Smith was the keynote speaker at the IMF’s Fifth Statistical forum on Measuring the Digital Economy. Peter Smith, co-founder and CEO of Blockchain.

For much of the past century the 9 to 5 job with benefits at a firm was what most people associated with financial stability. But as technology reshapes the labor market, more people are branching out on their own. A new report by Freelancers Union says freelancers will be the majority of the US workforce within 10 years if the current trend continues. In this podcast, Sara Horowitz, Executive Director of Freelancers Union, says freelancers are adapting to the changing nature of work. Sara Horowitz, founder and Executive Director of Freelancers Union

In September 2017, the Caribbean was hit by the most powerful Atlantic hurricane in recorded history. Irma’s 185 mile per hour winds left several countries devastated. During a seminar on sovereign debt at the IMF World-Bank Annual meetings, Grenada’s Prime Minister and chair of CARICOM, Keith Mitchell, said catastrophe risk insurance could help vulnerable countries mitigate some of the risk from increasingly severe weather patterns. Keith Mitchell, Prime Minister of Grenada and chair of the Caribbean Community CARICOM

When the government of India last year declared that much of its currency in circulation would cease to be legal tender, digital transactions surged. Mobile payment platforms like PayTM stepped in to fill the void, and in the process­ are providing financial services to millions of people unable to open a traditional bank account. In this podcast, PayTM’s Madhur Deora, says financial technology is having an impact on India’s development. Deora joined a seminar about Fintech, during the IMF World-Bank Annual Meetings.  Contributors: Madhur Deora, PayTM Chief Financial Officer

Les dernières perspectives de l’Afrique subsaharienne portent à croire que le ralentissement généralisé s’atténue. Dans ce podcast, coauteur Jarek Wieczorek, explique la croissance s’accélère, mais la dette publique augmente aussi. « Si la tendance actuelle persiste, la dette deviendra insoutenable dans plusieurs de pays ». Jarek Wieczorek, chef de la division des études régionales au Département Afrique du FMI

The IMF's latest regional economic outlook for Sub-Saharan Africa suggests the broad-based slowdown in sub-Saharan Africa is easing. In this podcast, co-author Jarek Wieczorek, says growth is up slightly from last year, but so is public debt. "If we maintain the trend we saw in the last 3 years, the debt will become unsustainable in many sub-Saharan African countries.” Contributors: Jarek Wieczorek, Head of the Regional Studies Division in the IMF’s African Department

As new technology rapidly transforms the financial services sector, central bankers are faced with mitigating risks without stifling innovation. But In this podcast, South Africa’s Central Bank Governor, Lesetja Kganyago, says inflation, currency depreciation, and political uncertainty remain his biggest challenges. Kganyago joined a panel discussion on what Fintech means for central banking during the 2017 IMF World-Bank Annual Meetings in Washington.   Contributors: Lesetja Kganyago, Governor of the South African Reserve Bank @KganyagoLesetja

The latest forecasts from the International Monetary Fund show global growth is on the rise. A very different picture from early last year, when the world economy faced faltering growth and financial market turbulence. In this podcast, IMF Chief Economist Maurice Obstfeld, delves into the current trends behind this recent upswing. Contributors: Maurice Obstfeld, IMF Director of Research, and Economic Counsellor.

The technological revolution has far reaching implications and is rapidly changing the way the world does business. But technology also offers the potential for finding solutions to some of the challenges facing the global economy. To encourage creative thinking among its economists, the IMF recently opened an innovation lab. In this podcast, Tristan Walker, first iLab Chief, says innovation will help make the institution more agile. Contributors: Tristan Walker, Innovation Lab Unit Chief

80 percent of the world’s energy consumption is based on fossil fuels which account for most of the greenhouse gas emissions that are warming the planet. Climate change is affecting the global economy and has become a defining feature in energy policy making. In this podcast, International Energy Agency Chief Economist, Laszlo Varro, says while efforts to reduce carbon emissions are generally off track, technological progress and investment momentum in the clean energy sector are reasons for optimism. Contributors: Laszlo Varro, Chief Economist for the International Energy Agency

Good data and statistics can help drive economies and are the basis for sound policy decisions in both private and public sectors. The advent of ‘big data’ poses opportunities for private companies and public institutions to better understand today`s economic and social trends. A new study by the IMF shows how big data can also provide valuable insight for economic and financial analysis. In this podcast, coauthor Diane Kostroch discusses the benefits and the challenges that come with big data. Contributors: Diane Kostroch, IMF economist, Statistics Department.

Dans ce podcast, Randa Filfili, directrice générale de l’entreprise sénégalaise Zena Exotic Fruits raconte pourquoi les petites et moyennes entreprises africaines ont souvent du mal à survivre, et les défis auxquels font face les femmes entrepreneurs. Filfili était de passage à Washington pour participer dans le séminaire intitule, Comment renouer avec une croissance vigoureuse en Afrique subsaharienne dans le cadre des Réunions de Printemps du FMI et du groupe Banque Mondiale. Randa Filfili, directrice générale de l’entreprise sénégalaise Zena Exotic Fruits.

Only a third of adults in sub-Saharan Africa have a bank account, and in this podcast, Tanzania Bank Governor, Benno Ndulu, says the lack of access to financial services is a key constraint on the region’s economic growth. Ndulu is a champion for bringing financial services to the poorest segments of society and as the current Chair of the Board of the Alliance for Financial Inclusion, he has helped pioneer some of the most innovative policy approaches to extending the financial system to the unbanked. This conversation with Benno Ndulu is featured in the September 2017 issue of Finance and Development Magazine. Contributors: Benno Ndulu, Bank of Tanzania Governor, and Chair of the Board of the Alliance for Financial Inclusion.

While Africa’s workforce expands, the lack of modern and efficient infrastructure is inhibiting economic growth. The prospect of building power plants and transportation networks is daunting for many countries with limited resources, but in this podcast, former Chief Economist of the African Development Bank, Mthuli Ncube, says reducing risks for private sector investors could help Africa build the infrastructure it so desperately needs.  Contributors: Mthuli Ncube, Managing Director of Quantum Global Research Lab, visiting professor at Oxford University, and co-editor of Infrastructure in Africa: Lessons for Future Development.

Extreme weather has hit Malawi’s economy hard over the last two years. Severe flooding followed by a drought—the worst in its history—caused widespread crop failure and placed 6.7 million people at risk of starvation. But a remarkable humanitarian effort helped reduce the impact of the drought on the most vulnerable segment of the population. An increase by the IMF to the amount of resources it provides to Malawi, as well as sizable contributions from Malawi’s development partners like the World Food Program and the World Bank, enabled the country to address the worst humanitarian crisis in its history. In this feature podcast, we hear from the small-scale farmers beset by the effects of climate change, beneficiaries of food aid including school children, and key players within the various agencies who were faced with making tough decisions in the throes of a major food crisis.   Contributors: Oral Williams: IMF Mission Chief for Malawi Jack Ree: IMF Resident Representative in Malawi Goodall Gondwe: Malawi’s Finance Minister Ben Botolo: Malawi’s Secretary to the Treasury Coco Ushiyama: World Food Program Representative for Malawi Roisin DeBurca: Unicef’s Deputy Director for Malawi Laura Kullenberg: Country Manager for the World Bank in Malawi Richard Record: Senior Country Economist for the World Bank in Malawi

As China’s economy catches up in size with that of the United States, some predict the renminbi will soon challenge the dollar’s dominance in international finance. But in this podcast, Cornell University’s Eswar Prasad says there are limits to how far China’s currency can go without undertaking significant domestic reforms. Prasad, a former IMF economist himself, was invited to IMF headquarters in Washington to talk about his latest book Gaining Currency: The Rise of the Renminbi Contributors: Eswar Prasad, Professor of Trade Policy and Economics at Cornell University, Senior Fellow at the Brookings institution, and author.

Drought, regional conflict, and slow credit growth are taking their toll on Uganda's economy. While per-capita growth has hovered around 5 percent for the last 20 years, the IMFs latest economic assessment shows it has fallen to 1/2 percent. In this podcast, the report's coauthor Axel Schimmelpfennig, says some strategic infrastructure investment and Uganda's untapped oil reserves could help turn things around. Contributors:  Axel Schimmelpfennig, IMF Mission Chief for Uganda  

By 2035 sub-Saharan Africa will have more working-age people than the rest of the world’s regions combined. This growing workforce bulge will have to be met with jobs, but the region remains one of the toughest places to do business. Meanwhile, small-unregistered household businesses provide up to 90 percent of jobs outside of agriculture. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter on the informal economy, and in this podcast we speak with economist Ali Mansoor, coauthor of the study.   Contributors: Ali Mansoor, IMF Division Chief for West Africa, and coauthor of the report.

More than two billion people worldwide are without bank accounts, and only one in three adults in sub-Saharan Africa have access to any type of financial services. But Tayo Oviosu, Founder of Nigeria’s leading mobile payment platform says financial technology—or fintech, is making access to finance possible for millions of un-banked Nigerians. Tayo Oviosu, Founder and CEO of Paga, Nigeria’s mobile payment platform. Watch webcast of IMF World-Bank Spring meetings panel on Digital Financial Inclusion

While science and technology propel us into the future at what some would describe as breakneck speed, Oxford University’s Ian Goldin says we should draw from the past because we’ve been here before. In this podcast, Goldin compares the social division, political extremism and insecurity of the first Age of Discovery in the 15th Century, with what is happening today. Contributors: Ian Goldin, founding director of the Oxford Martin School, and Professor of Globalization and Development at Oxford University.

While millions of young people enter the labor market every year, the chance of landing a traditional full-time job with benefits are getting slim. Global youth unemployment is on the rise and many young people are opting to work in what’s known as the sharing economy. In this podcast, IMF Managing Director Christine Lagarde shares her thoughts about policies that might help today’s youth better adapt to the changing nature of work.    Read Christine Lagarde’s Straight Talk about millennials and the future of work, in the June 2017 edition of Finance and Development magazine.  Contributors: Christine Lagarde, IMF Managing Director

The IMF’s Special Drawing Rights have failed to gain real traction in the international monetary system, but Mohamed El-Erian, Chief Economic Advisor at Allianz and former IMF Deputy Director, believes a greater role for the SDR in global markets could help strengthen the world economy. Contibutors: Mohamed El-Erian, Chief Economic Advisor at Allianz and former IMF Deputy Director.

FinTech—or financial technology—is poised to revolutionize how the world does business. It could open new kinds of markets to many more people, but it could also threaten our financial privacy or make illicit financial transactions easier. In this podcast, Fintech expert Patrick Murck describes the coming transformation and its pitfalls. Contributors: Patrick Murck, fellow at the Harvard Berkman Klein Center for Internet and Society, and a Special Counsel at Cooley LLP.

The IMF's latest regional economic outlook for Sub-Saharan Africa shows growth has fallen to its lowest level in twenty years. In this podcast, co-author Céline Allard, says while some countries like Senegal and Kenya continue to experience growth rates higher than 6 percent, growth has slowed for two thirds of countries in the region bringing down average growth in 2016 to 1.4 percent. Contributors: Céline Allard, Head of the Regional Studies Division in the IMF’s African Department

La dernière édition des Perspectives économiques régionales, indique que la croissance en Afrique subsaharienne est tombée à son plus bas niveau depuis plus de 20 ans. Dans ce podcast, coauteur Céline Allard, explique si certains pays continuent d’enregistrer une croissance supérieure à 6 %, l’expansion a ralenti dans deux tiers des pays de la région, ce qui a réduit la croissance moyenne à 1,4 % en 2016. Contributors: Céline Allard, chef de la division des études régionales au Département Afrique du FMI

The labor force 30 years from now will look very different as working-age populations in advanced economies start to shrink. While some today worry they’ll lose their jobs to robots, economists like Google’s Hal Varian, wonder if technology will boost productivity enough to compensate for the shifting demographics. Varian, and Harvard’s David Canning, discussed the topic during an IMF World-Bank Spring Meetings seminar earlier this month. Hal Varian, Google’s Chief Economist and an Emeritus Professor at UC Berkeley. David Canning, Professor of Population Sciences, Economics and Intl Health, Harvard University, Department of Global Health and Population.

The IMF’s latest World Economic Outlook projects global growth at 3.5 percent in 2017 and 3.6 percent in 2018. In this podcast, IMF Chief Economist Maurice Obstfeld says global growth is gaining momentum. Contributors: Maurice Obstfeld, IMF Economic Counselor

The 2008 global financial crisis exposed the vulnerability of banks that do not hold enough capital. The Basel Committee on Banking Supervision has since revised capital requirements for banks. In this podcast, we ask IMF economist Lev Ratnovski, how much capital banks need to hold to avert another crisis. Contributors: Lev Ratnovski, Senior Economist in the IMF’s Research Department.

Muna AbuSulayman, is founder and co-host of the most popular social issues program on Arab television. Kalam Nawaem tackles controversial topics and has been pushing social boundaries in the region for 15 years. In this podcast, AbuSulayman says Arab women should be free to achieve their goals without cultural or economic barriers. Contributors: Muna AbuSulayman, Co-founder of Meedan.com, a news hub for Arab youth and women.

Labor unions around the world are having to adapt to a fast changing labor market. John Evans heads the Trade Union Advisory Committee to the OECD, and represents some 65 million organized workers worldwide. In this podcast, Evans says workers are caught in the middle of rapid technological change and slow global growth. Contributors: John Evans, General Secretary of the Trade Union Advisory Committee to the OECD.

As the Group of Twenty finance ministers and central bank governors meet in Germany this week, policymakers are looking at ways to increase investment in Africa. ONE Campaign’s Jamie Drummond says investing into the education, employment and empowerment of this generation of Africans will help create jobs and curb migration into Europe. Contributors: Jamie Drummond, Co-Founder and Executive Director of The ONE Campaign

Global trade union leaders gathered at the IMF in February to discuss how workers are being impacted by the changing global economy. In this podcast, Hilma Mote, of the African Region’s International Trade Union Confederation talks about the challenges African youth, especially women are facing with the continent’s rapidly growing labor force.   Contributors: Hilma Mote, Executive Director of the Africa Labor research and education Institute, ITUC-Africa.

There is a strong connection between human capital and economic growth, and in this podcast, Eric Hanushek says societies that invest a lot in the cognitive skills of their people grow significantly faster. Hanushek studies the relationship between education policy and economic outcomes at Stanford University. Contributors: Eric Hanushek, Paul and Jean Hanna Senior Fellow at the Hoover Institution of Stanford University. http://hanushek.stanford.edu/

In this podcast we speak with author Alec Ross about his new book The Industries of the Future. Ross says 90 percent of the world’s data has been produced in the last two years, so those businesses that own or harvest a meaning from all this data will be leading the pack. Ross has served as Senior Advisor for Innovation to the US Secretary of State. Contributors: Alec Ross, Distinguished Senior Fellow at Johns Hopkins University.

Every two years, the IMF and World-Bank invites global labor union leaders to discuss the global economy and the implications for the labor force. In this podcast, Sharan Burrow, head of the world’s largest trade union federation, says collective action is needed to help better distribute the benefits of growth, if institutions are to regain trust from working people. Contributors: Sharan Burrow, General Secretary of the International Trade Union Confederation.

With Asia’s recent growth comes a growing responsibility within the global economy. In this podcast, Barry Eichengreen, Professor of Political Science at the University of California, Berkeley, breaks down the weight of that responsibility and how Asia can rise to fulfill it. Contributors: Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley.

While many African countries have enjoyed significant revenues from the mining industry in recent years, a new study published by the Natural Resource Governance Institute suggests tax revenues from mining could be much higher if transfer pricing rules were enforced. In this podcast, we speak with the report’s author Alexandra Readhead. Contributors: Alexandra Readhead, author of Preventing Tax Base Erosion in Africa

Corruption, in its many forms, affects people from every walk of life, in every country. While it does not discriminate based on age, young people are affected by corruption in ways that can follow them throughout their careers. In this podcast, anti-corruption leader Sergejus Muravjovas, talks about the ways in which youth are fighting back. Contributors: Sergejus Muravjovas, Executive Director at Transparency International Lithuania and founder of TransparencySchool.org

New York Times columnist and best-selling author Thomas Friedman, says our lives are being transformed in so many realms at once- it’s dizzying. In this podcast, Friedman talks about his new book, Thank You for Being Late, An Optimist’s Guide to Thriving in the Age of Accelerations. Contributors: Thomas Friedman, New York Times columnist and best-selling author.

Julie Delahanty has done extensive work on the disenfranchisement of women due to the lack of equal opportunity. Delahanty is the Executive Director of Oxfam Canada, and joined a panel discussion during the IMF conference on Reducing the Gender Gap. In this podcast, Delahanty says vulnerable women are the most negatively affected by rising inequality. Contributors: Julie Delahanty, Executive Director of Oxfam Canada

Who benefits from free trade and who doesn’t? The realities don’t always match people’s perceptions. In this podcast, economist and free trade expert Douglas Irwin addresses some of the controversies. Irwin participated in a seminar entitled Making Trade an Engine of Growth for All at this year’s IMF/World Bank Annual Meetings. Contributors: Douglas Irwin, John Sloan Dickey Third Century Professor in Social Sciences in the Department of Economics at Dartmouth College

Ravi Kanbur says statistics are fundamentally political in nature and in import. Kanbur is Professor of Economics at Cornell University and gave the keynote speech at the Fourth IMF Statistical forum on Statistics for Inclusive Growth, held in November 2016. In this podcast, Kanbur says data doesn’t always reflect reality when it comes to poverty and inequality. Contributors: Ravi Kanbur: T. H. Lee Professor of World Affairs and Professor of Economics at Cornell University.

Globalization is a recent term, but the internationalization of markets, people, ideas, and cultures is nothing new. In this podcast, IMF historian Harold James, talks about how the past might help guide us into the future. James is Professor of History and International Affairs at Princeton University, and author of New Concept Old Reality published in the December 2016 edition of Finance and Development magazine. Contributors: Harold James, Professor of History and International Affairs at Princeton University and IMF Historian

Esther Duflo, Professor of Development Economics at MIT, co-founded The Poverty Lab to find innovative approaches to poverty alleviation. In this podcast, Duflo says all economic and social dimensions of poverty must be considered in order to effectively address the problem. Duflo presented the 2016 Richard Goode lecture at the IMF earlier this month. Contributors: Esther Duflo: Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology.

The IMF’s latest Regional Economic Outlook for Sub-Saharan Africa dedicates an entire chapter on what a drought, an earthquake or a pandemic can do to a country’s economy. In this podcast, lead authors Marshall Mills and Vimal Thakoor say natural disasters have a much bigger impact in sub-Saharan Africa than any other region. Contributors: Marshall Mills: Economist and Mission Chief for Madagascar, IMF African Department. Vimal Thakoor: Economist, IMF African Department.

While the benefits of expanding women’s participation in the economy are clear, women around the globe continue to face barriers. In this podcast, Action Aid’s Nyaradzayi Gumbonzvanda says women bear a disproportionate responsibility for unpaid care work, and ill-thought-out policies often add to that burden. Gumbonzvanda joined a panel on Making Macroeconomics Work for Women at the IMF World-Bank Annual Meetings.    Contributors: Nyaradzayi Gumbonzvanda, International Board Chair for Action Aid

In this podcast, IMF Managing Director, Christine Lagarde, and best-selling author Michael Lewis (The Big Short), reflect on lessons learned from the financial crisis and other issues facing the world economy. The discussion took place before a live audience during the IMF World-Bank Annual meetings last month. Contributors: Christine Lagarde: IMF Managing Director. Michael Lewis: Author, columnist and financial journalist.

In this podcast, inventor and futurist Ray Kurzweil talks about how artificial intelligence is helping overcome human limitations and creating better-paying jobs. Kurzweil participated in a panel discussion entitled Technology, Innovation, and Inclusive Growth, during the 2016 IMF World-Bank Annual Meetings. Contributors: Ray Kurzweil: Inventor, futurist, and author.

Le dernier rapport du FMI sur les Perspectives économiques régionales prévoit que le taux de croissance économique de l’Afrique subsaharienne devrait descendre à son plus bas niveau depuis plus de deux décennies. Mais Céline Allard, chef de la division des études régionales au Département Afrique, dit que plusieurs pays continuent de croitre de manière très robuste Contributeurs: Céline Allard, chef de la division des études régionales au Département Afrique du FMI

The IMF's latest regional economic outlook for Sub-Saharan Africa shows growth at its lowest level in more than 20 years. But in this podcast, the African Department’s new Director, Abebe Aemro Selassie, says it’s a mixed story of struggling oil-exporters and strong performers.  Contributors: Abebe Aemro Selassie, Director of the IMF’s African Department

The IMF’s latest World Economic Outlook projects global growth at 3.1 percent in 2016 and 3.4 percent in 2017. In this podcast, IMF Chief Economist Maurice Obstfeld says growth has been too slow for too long. Contributors: Maurice Obstfeld, IMF Chief Economic Counselor

Ghana’s economy—once a model for growth in West Africa, took a turn for the worse in 2012. It’s been getting help from the IMF under a 3-year program known as the Extended Credit Facility. The IMF board has approved another US$116m, and under the arrangement Ghana could receive more than US$900m if all targets are met. In this podcast, Joël Toujas-Bernaté, IMF mission chief for Ghana, says the country is making good progress. Contributors: Joël Toujas-Bernaté, IMF Mission Chief for Ghana

While Ethiopia has been experiencing strong growth since the early 2000s, the IMF’s latest review of the country’s economy says low commodity prices and a drought have put growth levels well below 10 percent for the first time in a decade. In this podcast, we speak with Julio Escolano, IMF Mission Chief for Ethiopia, who oversaw the writing of the report. Contributors: Julio Escolano, IMF Mission Chief for Ethiopia.

More than 1 million migrants and refugees made their way to Europe last year, 350K from Syria alone. A recent IMF study says people fleeing conflict areas in the Middle-East and North Africa has brought about the biggest refugee crisis since World War 2. In this podcast, the UN’s Kyung-Wha Kang says the 1951 UN convention for refugees is no longer enough.  Contributors: Kyung-Wha Kang, Assistant Secretary-General for Humanitarian Affairs and Deputy Emergency Relief Coordinator at the United Nations.

The United Nations estimates the global creative economy in 2011 generated more than $600 billion. In this podcast we speak with Patrick Kabanda, who says a country’s cultural wealth presents a huge development opportunity. Kabanda is author of Music Going for a Song published in the September 2016 edition of Finance & Development Magazine. Contributors: Patrick Kabanda, Consultant for the office of the Senior Vice President and Chief Economist at the World Bank

As robotic technology becomes more sophisticated, robots could soon become perfect substitutes for human labor. In this podcast, IMF economist Andy Berg says the robot revolution could lead to greater inequality. Berg is coauthor of Robots, Growth, and Inequality published in the September 2016 edition of Finance & Development Magazine. Contributors: Andy Berg, Deputy Director of the IMF’s Institute for Capacity Development

Taxes are what governments rely on to provide the public goods and services that support economic growth. In this podcast, DG DEVCO’s Klaus Rudischhauser, says some countries with millions of inhabitants have only a few hundred tax payers. Rudischhauser participated in a Spring Meeting’s seminar on Capacity Development entitled Collect More & Spend Better Contributors: Klaus Rudischhauser, Deputy Director-General of the European Commission’s International Cooperation and Development (DG DEVCO)

Les Autorités Malagasy et les services du FMI sont arrivés à un accord de principe sur un programme économique valable jusqu’à fin 2019, ouvrant la voie à une croissance soutenue et inclusive. Les politiques envisagées dans ce cadre pourraient bénéficier d’un concours de $310 millions de dollars. Dans ce podcast, Marshall Mills, chef de Mission pour le Madagascar, discute les points essentiels du nouveau programme. Contributors: Marshall Mills, chef de Mission du FMI pour le Madagascar

The IMF says Madagascar has built a good track record since it’s reengagement in 2014, showing the country is capable of sustaining recent reforms that have improved its economic outlook. In this podcast, Mission Chief, Marshall Mills talks about a new IMF program for Madagascar that includes US$ 310 million over three years.   Contributors: Marshall Mills, IMF Mission Chief for Madagascar

Abhijit Banerjee, has worked in dozens of countries trying to better understand the economics of poverty. He argues anti-poverty policies often fail because of inadequate understanding of the decisions poor people make. Banerjee Participated in a seminar on Sustainable Economic Development during the IMF World-Bank Spring meetings. In this podcast, we discuss why so little is known about a billion poor people in the world. Contributors: Abhijit Banerjee, Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology, and author of Poor Economics, A radical Rethinking of the Way to Fight Global Poverty

It’s vital to address the economic challenges of women and girls in order to fix the economic challenges of nations. This was the main theme of a seminar called Getting Down to Business: Women, Work, and the Global Economy, held during the IMF/World Bank Spring Meetings. In this podcast, Oxfam International’s Winnie Byanyima talks about the increasing statistical evidence that shows women's contributions to the global economy are invaluable.        Contributors: Winnie Byanyima, Executive Director of Oxfam International

Monetary rivalry is a fact of life in the world economy, says Benjamin Cohen, professor of International Political Economy at the University of California and author of Currency Power: Understanding Monetary Rivalry. In this podcast, Cohen explains why currencies become internationalized, and examines the relationship between world currencies and State power. Contributors: Benjamin Cohen, Professor of International Political Economy at the University of California

South Africa faces significant challenges and needs decisive action to revive growth, the IMF said in its latest economic review. While the report acknowledges considerable economic and social progress, it shows income inequality and unemployment are unacceptably high. In this podcast, we speak with Laura Papi, IMF Mission Chief for South Africa. Contributors: Laura Papi, IMF Mission Chief for South Africa

Many of the world’s bigger banks are reevaluating their relationships with banks in smaller riskier countries, making it harder for businesses and people to move money across borders. The process is commonly known as De-Risking. IMF Staff have recently published a research paper entitled The Withdrawal of Correspondent Banking Relationships. In this podcast, we speak with coauthor Yan Liu. Contributors: Yan Liu, Assistant General Counsel in the IMF’s legal Department.

Europe is struggling to cope with millions of asylum seekers from conflict zones in the Middle East. In this podcast, Ian Bremmer, president of the global political risk research firm Eurasia Group, says the biggest challenges behind the refugee crisis are more political than economic. Bremmer participated in a seminar entitled Conflicts and the Refugee Crisis: An International Call for Action at the IMF-World Bank Spring Meetings in April. Contributors: Ian Bremmer, President and Founder of Eurasia Group, a global political risk research and consulting firm.

Billions of uncollected tax dollars in developing countries could be used to lift more people out of poverty. In this podcast, Eric Postel, USAID’s Associate Administrator explains how redoubled efforts to improve tax systems worldwide are making a difference. Postel participated in seminar entitled Collect More & Spend Better at the IMF-World Bank Spring Meetings in April. Contributors: Eric Postel, Associate Administrator at the U.S. Agency for International Development (USAID)

If high commodity prices alone drove recent advances in Africa, the prospects for further gains seem dim. But in this podcast, Steven Radelet, says the reality is more complex, and the outlook is more varied than many now suggest. Radelet’s article, Africa’s Rise- Interrupted? is published in the June 2016 issue of Finance and Development magazine. Contributors: Steven Radelet, holds the Donald F. McHenry Chair in Global Human Development, and is Director of the Global Human Development Program at Georgetown University’s Edmund A. Walsh School of Foreign Service.

Slumping Chinese demand has African economies scrambling to find alternate sources of revenue. In this podcast, we speak with Roger Nord, Deputy Director of the African Department in the IMF, and coauthor of A Fork in the Road, published in the June 2016 issue of Finance and Development magazine. Contributors: Roger Nord, IMF Deputy Director, African Department

Of the 5 million people fleeing civil war in Syria, more than a million have ended up in Jordan. The refugee crisis has hit host countries like Jordan hard. Imad Fakhoury, Jordan’s minister of planning, joined a seminar about Conflicts and the Refugee Crisis, at the IMF-World Bank Spring Meetings. In this podcast, Fakhoury talks about the impacts of the refugee crisis on Jordan. Contributors: Imad Fakhoury, Jordan’s Minister of Planning and International Cooperation

As Nigeria’s Finance Minister, Kemi Adeosun is charged with navigating Africa’s largest oil producer through the biggest oil price slump in decades. In this podcast, Adeosun talks about the need to diversify government revenues, and how inclusive growth can stem rising insecurity. Adeosun joined a panel discussion about sub-Saharan Africa during the IMF-World Bank Spring Meetings. Contributors: Kemi Adeosun, Nigeria’s Finance Minister

La dernière édition des Perspectives économiques régionales,prévoit que l’Afrique subsaharienne va connaître une deuxième annéedifficile à cause des multiples chocs qui frappent la région. Dansce podcast, Céline Allard, chef de la division des étudesrégionales au Département Afrique du FMI, discute les pointsessentiels du rapport.Contributors: Céline Allard, chef de la division des étudesrégionales au Département Afrique du FMI

The IMF's latest regional economic outlook for Sub-SaharanAfrica predicts a second difficult year as the region is hit bymultiple shocks. In this podcast, co-author Céline Allard, says thesteep decline in commodity prices and tighter financing conditionshave put many large economies under severe strain.Contributors: Céline Allard, Head of the Regional StudiesDivision in the IMF’s African Department

In this Podcast, we speak with Raghu Rajan, India’s central bank governor about the Global Financial Safety Net. Rajan is charged with securing monetary stability in one of the world’s largest Emerging Market economies, at a time when others are stumbling in the face of difficult global economic trends. Rajan participated in a seminar entitled Fortifying the Global Financial Safety Net, during the IMF-World Bank Spring meetings. Contributors: Raghuram Rajan, Governor of the Reserve Bank of India

The new World Economic Outlook anticipates a slight acceleration in growth this year, from 3.1 to 3.2 percent, followed by 3.5 percent growth in 2017. But IMF Chief Economist Maurice Obstfeld says projections continue to be progressively less optimistic over time.  Contributors: Maurice Obstfeld, IMF Chief Economic Counselor

While many economists would argue public investment projects in highly efficient countries have a greater impact on growth, recent research by some IMF economists shows that’s not necessarily the case. In this podcast we speak with the IMF’s Andy Berg, who suggests the impact on growth from public investment spending is similar in both high and low-efficiency countries.  Contributors: Andy Berg, a Deputy Director in the IMF’s Institute for Capacity Development

Dans son dernier bilan, le FMI signale que l’économie gabonaise a été durement touchée par la chute des cours du pétrole. Dans ce podcast, nous nous entretenons avec Montfort Mlachila, chef de mission du FMI pour le Gabon. Il souligne que le pays peut accroître sa résilience et redynamiser la croissance en diversifiant son économie. Montfort Mlachila, Chef de mission du FMI pour le Gabon.

The IMF’s most recent review of Gabon’s economy shows it’s been hit hard by the oil price decline. In this podcast, we speak with IMF Mission Chief for Gabon, Montfort Mlachila, who says the country can build resilience and revive growth by diversifying its economy. Contributors: Montfort Mlachila, IMF Mission Chief for Gabon

While it was widely expected that globalization would reduce inequality, income disparities between skilled and unskilled workers has only increased in recent years. In this podcast we ask Nobel Laureate Eric Maskin, why the global markets haven’t offered better economic opportunities for the world’s poorest.  Contributors: Eric Maskin, Professor at Harvard University, and 2007 Nobel Laureate.

On this International Woman’s Day, we speak with Nigerian economist Dr. Ngozi Okonjo-Iweala. Best known for her two terms as Nigeria’s Finance Minister and for her work as a Managing Director at the World Bank, Dr. Okonjo Iweala is always looking for ways to help bridge the gender gap. Contributors: Dr. Ngozi Okonjo-Iweala,

More than a million migrants have entered Europe this year according to the International Organization for Migration. In this podcast, we speak with Professor Barry Chiswick who says language acquisition is key to immigrant success. Chiswick says language skills among immigrants are a form of human capital, and can substantially increase potential earnings.   Contributors:  Barry Chiswick, Professor of Economics and International Affairs at George Washington University

While many economies around the world should benefit from a growing US economy, a strong US dollar is seldom good news for emerging markets. In this podcast, we talk to IMF Senior Economist Nicolas Magud, coauthor of an article entitled Collateral Damage, published in the December 2015 issue of Finance and Development magazine.

The fabled mountain Kingdom of Lesotho achieved strong growth in recent years, but the IMF’s latest economic review shows growth rates have dropped. In this podcast, IMF mission chief for Lesotho, David Dunn, says slower growth in neighboring South Africa has significantly reduced Lesotho’s government revenues.

Ghana is considered one of West Africa’s most stable democracies, and until recently it was a model for economic growth. But since 2012, the economy has taken a turn for the worse, and Ghana is now getting help from the IMF. In this podcast, IMF Mission Chief, Joël Toujas-Bernaté talks about the country’s economic challenges.

The IMF released an update to its World Economic Outlook published in October 2015. The WEO Update, projects global growth to be slightly lower than last fall’s forecast, at 3.4 percent this year, and 3.6 percent in 2017. IMF Chief economist Maurice Obstfeld, launched the new report at a press conference in London.

As the world’s metropolises expand to accommodate more people, the earth’s supply of sand is being pushed to the limit. Deceptively abundant, the basic raw material for glass and concrete can’t keep up with demand. In this podcast, Pascal Peduzzi, of the United Nations Environmental Programme, talks about how our overdependence on sand is unsustainable.

The confluence of globalization and increased travel security has given rise to a flourishing industry, where residency and citizenship can be acquired by those with means. In this podcast we speak with the IMF’s Judith Gold and Ahmed El-Ashram, who coauthored an article entitled “A Passport of Convenience”, published in the December 2015 issue of Finance and Development.

Many more people with HIV are now surviving for longer, thanks to new antiretroviral drug treatments. But their governments must now come up with a way to pay for their ongoing treatment. But the price is putting many countries in sub-Saharan Africa at risk of unsustainable levels of debt. By Sir Paul Collier, Professor of Economics and Public Policy in the Blavatnik School of Government, University of Oxford

Africa’s strong growth in recent years has helped improve its institutions and policies, spurring more foreign direct investment from countries like China. In this podcast, David Dollar, Senior Fellow at the Brookings Institution, says while China is important to the increasing foreign investment in Africa, its role is far from dominant. Dollar is coauthor of “Investment Renaissance”, published in the December 2015 issue of Finance and Development magazine.

World leaders will meet in Paris in December to forge a new climate deal that caps global warming at 2 degrees Celsius over pre-industrial revolution levels. But in this podcast, Nick Stern, Professor of Economics and Government at the London School of Economics, says the world is not yet on the two degree path as carbon emissions continue to rise. Stern is author of “The Low-Carbon Road” in the December issue of Finance & Development magazine.

Climate change has been at the forefront of discussions within the development community, as world leaders prepare to present their plans to reduce carbon emissions at the United Nations summit on climate change in December. In this podcast, the IMF’s Gita Bhatt talks to Christiana Figueres, head of the United Nations framework convention on climate change.

From global financial crises to cybercrime, globalization has its downsides. The director of the Oxford Martin School discusses the pitfalls of the global community’s ever closer union, and offers some possible remedies to its darker side.

L’Afrique subsaharienne subit les effets de la baisse des cours des produits de base. Le dernier rapport du FMI sur les Perspectives économiques régionales prévoit que les taux de croissance de la région descendront à leur plus bas niveau depuis six ans. Dans ce Podcast, Céline Allard, co-auteur du rapport, dit que certains pays ont très peu d’épargne à leur disposition pour faire face à cet ajustement.

Economic activity has weakened markedly in sub-Saharan Africa, and the strong growth momentum of recent years has dissipated in several countries. The IMF’s latest Regional Economic Outlook for sub-Saharan Africa puts growth at 3¾ percent this year, lower than in 2009 in the aftermath of the global financial crisis. In this podcast, co-author Céline Allard, says low commodity prices, and tighter financing are key factors.

S’il est un pays qui démontre combien il est difficile de transformer les richesses minérales en croissance inclusive, c’est bien la République démocratique du Congo. Selon la dernière évaluation annuelle de l’économie congolaise réalisée par le FMI, les taux de croissance en 2014 atteignaient jusqu’à 9,2 %, mais les indices de pauvreté de la RDC restent parmi les plus élevés au monde. Dans ce podcast, Norbert Toé, Chef de mission pour la RDC, discute les points essentiels du rapport.

If there's one country that exemplifies the difficulty in transforming mineral wealth into inclusive growth- it's the Democratic Republic of Congo. The IMF's latest annual economic assessment indicates while growth rates for 2014 were as high as 9.2 percent, poverty rates in the DRC are still among the highest in the world. In this podcast, Norbert Toé, IMF mission chief for the DRC discusses the key findings in the report.

In development circles, governance is often a code word for corruption. But Daniel Kaufmann, president of the Natural Resource Governance Institute, says governance is much broader. In this podcast, Kaufmann talks about how good governance can actually triple a country's per capita income.

The IMF’s latest World Economic Outlook (WEO) shows global growth at 3.1 percent this year, down from 3.4 percent in 2014. The report says while outlooks vary from country to country, the new WEO forecasts predict slower near-term growth nearly across the board, with increasing downside risks to the world economy as commodity prices continue to fall.

Cuba has been out of bounds for American tourists for more than 50 years. But with the US recently restoring diplomatic relations, some say it’s just a matter of time before the floodgate opens to a whole generation of baby boomers wanting to experience some of Hemmingway’s favorite watering holes. In this podcast the IMF’s Nicole Laframboise talks about how the thaw in relations between the US and Cuba could shake up the Caribbean tourism industry.

Inflation can determine a currency’s purchasing power as high inflation means rising prices. But what drives inflation differs from region to region. In this podcast we talk with Oral Williams, IMF Mission Chief for Malawi and coauthor of a new research paper that shows the drivers of inflation are changing in sub-Saharan Africa.

Asia fared well throughout the global financial crisis and has since become one of the strongest economic regions in the world. But with the global economy such as it is, a new book published by the IMF says Asia’s financial systems are facing new challenges. In this podcast coauthor Jim Walsh talks about The Future of Asian Finance.

While the gap between rich and poor is widest in Latin America, research led by Nora Lustig shows it’s the only region in the world where the gap is actually narrowing. But in this podcast, Lustig admits it’s still unclear what specifically is behind the trend.

Poverty can mean different things in different countries. The creator of the “Multidimensional Poverty Index” explains how the measure is designed to expand policymakers’ understanding of poverty beyond the traditional benchmark of living on less than $1.25 per day.

World trade has slowed in the past decade. Professor Douglas Irwin says countries need to shift from focusing on trade barriers at borders, to domestic reforms that would help entrepreneurs get their goods to port cities for export.

Russia is now likely in recession with GDP growth expected to decline 3.4 percent this year, says the IMF in its annual economic assessment. Mission Chief Ernesto Ramirez Rigo, explains how Russia’s economic woes are largely due to the dramatic drop in oil prices, and sanctions in response to developments in Crimea and Ukraine.

India has invested nearly half a trillion dollars in its infrastructure over the last decade, but finding the funding for mega-projects is only half the challenge. The head of one of the country’s leading infrastructure finance companies explains.

IMF board of Directors approved a package of proposals to help developing countries finance the new Sustainable Development Goals. IMF’s Sean Nolan says the package will enhance the financial safety net for low income countries and fragile states.

Increasing trade can spur growth says Mari Pangestu of Jakarta’s center for Strategic and International Studies. In this podcast Pangestu talks about how efficient, open and fair regional trade agreements make for a healthier global trade environment.

The IMF recently published a study on the world’s water resource management challenges. Co-author Laure Redifer says Burkina Faso is an example of how efficient water resource management can improve a country’s economic prospects.

Study by IMF Staff suggests raising income levels of the poor and middle boosts overall economic growth. Co-authors Kalpana Kochhar and Era Dabla-Norris say the wealth of the rich is not trickling down.

As the United Nations prepares to adopt its 17 new Sustainable Development goals in September, Florencio Abad talks about how the Philippines and other countries might find the resources required to hit the targets.

Public debt is a normal part of a government’s finances, but too much debt can have serious consequences for a country. During a seminar at the IMF-World Bank Meetings, one former head of state, who left office with public finances in good standing, explains how her administration succeeded where others have so often failed. More at: http://www.imf.org/external/POS_meetings/SeminarDetails.aspx?SeminarId=41? Helen Clark, Administrator of UNDP

Two decades on from the genocide in which hundreds of thousands were slaughtered, the tiny east African state of Rwanda has been seeking a path to development and reconciliation. By Claver Gatete, Minister of Finance of Rwanda

Over the next decade and a half , the United Kingdom will pour hundreds of billions of dollars into transport, and other infrastructure projects. One of the country’s top experts in the field says good planning, and strong political are critical to success.

Mauricio Villafuerte , Chef de mission pour le Tchad dit que le pays a mener à bien de remarquables réformes économiques, ce qui lui a permis d’avoir accès à un allègement de la dette dans le cadre de l’initiative en faveur des pays pauvres très endettés (PPTE). Contributors: Mauricio Villafuerte : Chef de mission pour le Tchad, Département Afrique du FMI

Mauricio Villafuerte, IMF Mission Chief for Chad says the country has made some remarkable economic reforms since 2010, paving the way for US$1.1 billion in debt relief under the Heavily Indebted Poor Countries Initiative. Contributors: Mauricio Villafuerte : Mission Chief for Chad in the IMF’s African Department

Selon Céline Allard, du FMI, l’Afrique subsaharienne devrait, cette année encore, enregistrer de solides résultats économiques malgré la baisse des cours des produits de base, les projections laissant entrevoir un taux ce croissance de 4,5 % pour 2015.

IMF’s Céline Allard says sub-Saharan Africa is set for another year of solid performance despite declining commodities, with a projected growth rate of 4.5 percent for 2015.

More Than 1 billion people live in countries affected by fragility. Fragile states are often confronted with political instability or conflict, inadequate public services, and lack of economic opportunities. Jakkie Cilliers, Executive Director of the Institute for Security Studies in Pretoria, South Africa Claver Gatete, Minister of Finance of Rwanda Kaifala Marah, Minister of Finance and Economic Development in Sierra Leone

The International Monetary Fund expects the world’s economy to expand by 3.5 percent this year, but the economic picture differs across the world. The impact of the global financial crisis are still being felt.

IMF Managing Director Christine Lagarde said policymakers around the world need to work together to strengthen global economic growth.

A former chairman of the UK's Financial Services Industry, Adair Turner, says there’s room for non-bank lending institutions, but thoughtful regulations need be put in place. By Lord Adair Turner: Senior Fellow at the Institute for New Economic Thinking.

Le FMI et la Banque des États de l’Afrique centrale (BEAC) organisent conjointement une conférence sur la croissance inclusive à Brazzaville, République du Congo, le 23 mars. le lien de la conférence: http://www.imf.org/external/french/np/seminars/2015/brazzaville/index.htm

The IMF and the Central bank of Central African states are co-hosting a conference on Inclusive Growth, in Congo Brazzaville on March 23rd. Link to the conference: http://www.imf.org/external/np/seminars/eng/2015/brazzaville/index.htm

More Rwandans are leaving their work on the farm to start small household businesses. By Alun H. Thomas: Senior economist in the IMF’s African Department

The International Labour Organization says while the demand for highly skilled jobs is on the rise, middle-class jobs are in sharp decline.

The Quest for Regional Integration in the East African Community lays out all aspects of the ongoing financial integration process for Uganda, Kenya, Tanzania, Rwanda and Burundi.

Melanne Verveer, served as Ambassador-at-Large for global women’s issues under President Obama. She says more women in small and medium sized enterprises is a catalyst for growth.

The World Bank has labeled global pandemic one of the greatest risks facing the world today, but according to one economist, preventing such a disaster is only a matter of political will.

The IMF will provide grants totaling $100 million to the three countries worst hit by the Ebola epidemic. Guinea, Liberia, and Sierra Leone will use the funds to cover the cost of servicing their debt.

New report on low income countries helps strengthen IMF's monitoring framework.

A conversation with IMF chief economist Olivier Blanchard, where he talks about the latest downward revisions to the World Economic Outlook. Even with a boost from falling oil prices, the WEO update shows global growth for 2015-16 at 3.5 and 3.7 percent.

Entretien avec OLIVIER BLANCHARD, économiste en chef du FMI, où il parle des dernières révisions à la baisse de la Perspective Économique Mondiale. La mise à jour montre la croissance mondiale pour 2015-16 à 3,5 et 3,7 pour cent.

The burning of fossil fuels comes with many costs. Millions of people die each year from the pollution it emits. This follow up to an earlier interview with an IMF economist explores the health risks posed by air pollution and some proposed solutions.

Strong economic growth helps keep people employed and healthy, but there’s a growing sense in many countries that only the wealthiest are reaping the benefits. Nobel laureate Michael Spence says inclusive growth is key to economic stability.

More than half of all countries in the world have laws that restrict women from joining the workforce. The IMF says the global economy would benefit by Boosting Women’s Participation in the Labor Force, and hosted a seminar on the topic last fall during the Fund’s annual meetings. Sarah Iqbal participated in that forum and talks in this podcast about the hurdles women face when starting a business. Read as well the IMF Survey story on Unleashing the Economic Power of Women [http://www.imf.org/external/pubs/ft/survey/so/2014/car091514b.htm]

Antibiotics have transformed modern medicine, but their overuse has resulted in more drug–resistant strains of bacteria. As resistance increases, people in poorer countries often can’t afford expensive second-line drugs. Ramanan Laxminarayan, Princeton University and director of the Center for Disease Dynamics, Economics & Policy.

Economist Justin Wolfers explains why the continued challenge of tackling income inequality should be a global priority for countries around the world and across the economic spectrum.

South Africa can celebrate significant progress in its first 20 years of democracy, but faces the challenge of reviving a weak economy. Addressing structural constraints such as electricity shortages are key to increasing growth.

Despite his reputation as the father of greedy capitalism, Adam Smith did a great deal of thinking about the human condition and how to be a better, more generous person. One economist believes that Smith could change your life. Listen to Russ Roberts on economics as entertainment:

Economic ideas can be a hard pill to swallow for non-academics, and yet virtually everyone can benefit from understanding them. Economist Russ Roberts discusses how he uses stories, rap music and the internet to help the medicine go down.

Data has gained prominence as a vital building block for making sound policy. IMF Director of Statistics, Louis Marc Ducharme talks about how the IMF is helping make data more widely available to policy makers.

When the richest 85 people hold the combined wealth of 3.5 Billion poor people, economist Jose Antonio Ocampo explains that Income inequality can shift from a human rights issue to a marker of potentially dangerous economic instability.

Labor market flexibility is considered by many to be essential to an efficient market economy. But a top-level official of the ILO says there’s been an excessive focus on worker flexibility. Off the back of an IMF/World Bank seminar, she explained how economic growth can be nurtured to benefit all.

As Uganda’s economy continues to grow, so does the need for more efficient ways of managing large development projects. The country’s finance minister says the objectives of each program must be clear, for capacity building to be effective.

Private investment is down in India, partly due to the lack of coal and electricity. India's new chief economic adviser Arvind Subramanian says removing those bottlenecks is key to increasing growth.

Caribbean economies have been slow to recover from the global financial crisis. This week, the IMF and the government of Jamaica will host a high level forum that will discuss ways of boosting the economies of the region.

The work of master economist John Maynard Keynes has been key in the resolution of successive crises from the Great Depression to the recent global financial crisis. An IMF economist gives an overview of the man, his ideas and their impact on economic policy.

The IMF’s latest Regional Economic Outlook for sub-Saharan Africa says growth in the region is currently at 5% and will continue to rise to 5¾ in 2015. The good news is overshadowed however in countries worst affected by the Ebola pandemic.

The world needs more growth, and more jobs to escape the prospect of prolonged, mediocre economic future, says the head of the International Monetary Fund who laid out the prospects for the global economy, and the priorities for the international organization at the start of the IMF-World Bank Meetings.

In the current environment of slow economic growth, where conditions are right, there’s a strong case for increasing public investment, says the IMF in its latest World Economic Outlook

The global economy is suffering weak and uneven growth, with countries experiencing different rates of recovery from the global financial crisis of 2008. While the economies of some advanced countries continue to expand, the emerging markets are facing lower domestic demand and geopolitical tensions.

Le Fonds monétaire international accorde $130 millions d’aide financière aux trois pays d’Afrique de l’Ouest les plus touchés par la crise de l’Ébola. Le Libéria, la Guinée et la Sierra Leone se heurtent à un ralentissement de la croissance et la flambée du virus bouleverse l’agriculture, le secteur minier et les services. La Directrice générale du FMI, Christine Lagarde, a déclaré que la communauté internationale doit se mobiliser pour aider les pays frappés de plein fouet par la crise.

The International Monetary Fund is to give $130 million dollars of financial assistance to the three countries in west Africa hardest hit by the ebola crisis. Liberia, Guinea and Sierra Leone are facing slowing growth and disruptions to agriculture, mining, and services because of the outbreak.

As the Chinese president, Xi Jinping continues his state visit to India, a leading Indian economist assesses the rapid development of these two giant economies, and suggests that the world’s most populous countries may be forging a quite exceptional development path.

Small states or countries with fewer than 1.5 million people have been struggling economically in recent years. An IMF economist offers an explanation and possible solutions.

Traditionally, countries developed their economies by moving away from agriculture into manufacturing. This was then followed by growth of the service sector. But many countries in Africa are building their service sector without transitioning through widespread industrialization. Is Africa experiencing a quite different path towards development? For more information: http://www.qeh.ox.ac.uk/research/research-themes/projectDetails?res_id=39

Chinese economic growth has been slowing in recent years. If the world’s second largest economy is to achieve sustainable, long-term growth, it needs reforms to shadow banking, local government finances and the real estate sector, say IMF economists.

Fiscal policies should be center stage in getting energy prices to reflect the harmful health and environmental side effects associated with energy use, according to a new report released by the IMF

Equality is not just about everyone getting their fair share, it’s also about everyone paying their fair share. A top NGO chief says the growing wealth gap could be reduced by tightening both domestic and international tax rules. Read more on the subject: Fixing International Corporate Taxation---Not Just a Problem for Advanced Economies http://blog-imfdirect.imf.org/2014/06/25/fixing-international-corporate-taxation-not-just-a-problem-for-advanced-economies/ http://www.imf.org/external/np/pp/eng/2014/050914.pdf

The International Monetary Fund has launched the first in a series of free online courses for those interested in furthering their economic education. One of the course’s instructors explains the benefits of raising the public’s knowledge about economics, and what he himself has learned from the creation of the course.

Shadow banking is a system of uninsured investments from non-bank institutions. It can yield very high returns, but investments come with the risk of total bust. Even though shadow banking has the potential for enormous losses, it will continue to be a part of China's economic landscape, says one Sino expert.

Africa has grown faster than many other parts of the world over the last two decades, but many Africans are still not seeing the benefits. One Africa specialist suggests measures that authorities might adopt to take advantage of the continent’s burgeoning potential.

After years of double digit expansion, China’s economic growth is slowing. The world’s second largest economy expanded off the back of manufacturing, investment and exports. But, China is now looking inwards for its future growth.

Economists are often criticized for viewing the world through the lens of costs and benefits, while ignoring the morality of an economic decision. But, while economics can’t answer moral questions, it can inform the debate, says one expert.

Over recent decades, labor’s share of GDP has declined steadily in many countries. The International Labour Organization suggests that reforming the labor market could halt that downturn and, at the same time, help reduce inequality.

The uneven distribution of wealth is one of the most debated issues in contemporary politics and economics. In a recently published, best-selling book, Thomas Piketty, explains the historical forces which have resulted in this inequality, and why a global tax on wealth could be the solution.

News of rising inequality is, more often than not, met with much handwringing. But, the growing gap between the super rich and the rest has also been accompanied by the lifting of millions out of poverty.

The future continues to look bright for sub-Saharan Africa, with robust growth expected to accelerate next year. But the IMF also warns of possible threats to the continent’s economy coming from outside the region.

Rising inequality around the world is becoming a cause of increasing concern. The IMF is contributing to the debate by suggesting how governments might use tax and spending to reduce the gap between the haves and the have lesses...without slowing down growth.

Why are some countries richer than others? The key may lie in the agricultural sector, says one expert, who suggests that low agricultural productivity may be keeping poor countries in a state of arrested development.

The frequency of natural disasters has increased, and its usually poorer countries that are more affected than the developed. But IMF economists say the right policies can be soften their devastating impact. By Nicole Laframboise, Deputy Division Chief, IMF’s Western Hemisphere Department

Over the next two decades, global energy consumption is expected to increase by more than 40 percent, according to the Chief Economist of BP, who describes some of the likely tectonic shifts in the energy sector of the future.

Economists use models to try to make sense of economic trends and shape policies. But, since the financial meltdown of 2008, many have criticized what they see as an overreliance on these models which failed to predict the crisis. The former President of the European Central Bank suggests ways these models might be improved.

Unemployment benefits deter job seekers from accepting work, say critics. But do they? One expert weighs the evidence.

Traditionally, humanitarian workers and development specialists were seen as inhabiting two different worlds, but one expert calls for some joined up thinking to help the people of fragile states.

La croissance de l’économie mondiale devrait s’accélérer cette année, selon le Fonds monétaire international. C’est ce qui ressort de la dernière mise à jour des Perspectives de l’économie mondiale du FMI. Le FMI table sur une croissance mondiale voisine de 3,7 % cette année, qui passerait à 3,9 % en 2015.

Global growth is expected to increase this year, says the International Monetary Fund in its latest report on the health of the global economy. The IMF forecasts global growth to average 3.7 percent in 2014―up from 3 percent in 2013―and to rise to 3.9 percent in 2015.

Africa is one of the fastest growing regions in the world, but the persistence of youth unemployment threatens this progress. Some see this growth without jobs as a ticking time bomb. Lamido Sanusi, the Governor of the central bank of Nigeria explains how to tackle this issue.

Zambia has enjoyed rapid growth in recent years, but the size of its fiscal deficit looms large over its future, says the IMF in a new report on the state of this south African economy.

“A rising tide lifts all boats.” That may be true on the oceans, but it’s not always the case when it comes to economic growth. But, countries can choose to pursue economic policies that will benefit all—rich and poor alike.

After a decade of strong growth, many emerging markets have experienced an economic slowdown. Martin Wolf, chief economics commentator at the Financial Times, explains how these economies might restore momentum.

In a wide ranging interview, the chief economist of the African development bank gave his thoughts on the African middle class, the state of data in Africa and the continent’ stellar economic performance.

The recent slowing growth in emerging markets may continue for the foreseeable future says economist Tim Adams. At a recent seminar on "Emerging Markets: Restoring the Momentum", Adams suggested that this change could be a good thing, heralding more balanced and sustainable growth.

Dans son dernier rapport sur les perspectives économiques de l’Afrique subsaharienne, le Fonds monétaire international prévoit pour la région une croissance de 6 % en 2014, contre 5 % prévus pour cette année. La région bénéficie de l’amélioration de la conjoncture aux niveaux local et mondial.

In the latest economic outlook for sub-Saharan Africa, the International Monetary Fund expects growth to reach 6% in 2014, up from the 5% expected this year. The region is benefiting from improved domestic and global conditions.

Water is the one resource we cannot live without. Yet, in some parts of the world, it remains inaccessible to many. To coincide with his article (http://www.imf.org/external/pubs/ft/fandd/2013/09/Gleick.htm) in September’s “Finance & Development,” Peter Gleick argues that we need to radically change how we consume this vital resource.

Le FMI prévoit une croissance de 2,9 % de l'économie mondiale cette année, soit moins que les 3,2 % enregistrés l'année dernière. La croissance sera vraisemblablement tirée par les économies avancées, tandis que les pays émergents afficheront des résultats moins bons que prévu.

Before the global financial crisis, the economies of central, eastern and southeastern Europe were expected to converge to the levels of their richer, western neighbors. But since the crisis, growth has been disappointing. How then to return this region to greater prosperity?

As US politicians race against the clock to avoid the United States defaulting on its debt, Martin Wolf describes what the debt ceiling is, and its implications for the global economy.

In the latest update to its World Economic Outlook, the IMF says it expects the world's economy to grow by 2.9 percent this year—below the 3.2 percent recorded last year. Growth is likely to be driven by advanced economies, while the performance of emerging markets will be weaker than expected.

Despite its many achievements since the transition to majority rule, South Africa struggles with low growth, widespread unemployment, and sharp social tensions. The IMF says Africa’s largest economy needs to pursue structural reforms to boost growth and create jobs for a growing population.

The 26-odd countries in the Caribbean may be small, but they are facing many of the same challenges confronting larger nations. These include the need to create more jobs and ensure that any growth is spread across a wide cross section of society. The countries of the Caribbean and various international organizations are meeting in the Bahamas to discuss how to capture that elusive growth.

Kenya is one of the success stories of Africa’s economic resurgence. Just a few short years after the global financial crisis caused a sharp economic downturn, the country has rebounded, and earned a reputation as one of the continent’s frontier economies. With this strong performance in mind, the Kenya and the IMF will co-host a conference to discuss the country's prospects.

Myanmar has made impressive strides in opening and liberalizing the economy, boosting growth and the economic outlook, but the formerly isolated country still faces some challenges.

Economic growth in the developing world has been accompanied by massive increases in higher education enrollment. This can feed a country’s development—but it also puts new pressures on a country’s leaders and workers.

As the economies of the developing world expand, new jobs beckon. But Richard Freeman says these countries have seen a surprising persistence of informal sector jobs—which offer low pay and scant worker protection.

Si vous faites partie de ces milliers de gens qui envoient de l'argent à leurs parents et amis à l'étranger, attention! Peut-être faites-vous autant de mal que de bien, selon un économiste du FMI. Ces envois de fonds peuvent certes secourir des familles dans le besoin, mais ils peuvent aussi saper la croissance économique.

If you are one of the hundreds of thousands of people who send money abroad to friends and relatives, beware! You may be doing as much harm as good, suggests one IMF economist. Although these remittances can be a lifeline for families, they can also undermine economic growth.

Developed countries need to be industrious like ants, says economist, Peter Blair Henry. For years they have offered advice to developing countries on the best path to growth. They might benefit from heeding some of their own advice, he suggests.

La croissance de l'économie mondiale est inférieure aux prévisions, note le FMI dans son dernier rapport sur les Perspectives de l'économie mondiale. Le FMI a révisé à la baisse la croissance pour cette année à 3,1 %, et préviens que les risques augmentent en particulier dans les pays émergents.

The global economy is growing more slowly than expected, says the IMF in its latest assessment. It's revise growth downwards to 3.1 percent this year, and warns risks are rising in emerging markets.

Unemployment is a worry around the world, but it's a particularly pressing issue for developing countries with their growing, young population. Small and medium-sized enterprises (SMEs) can be an important source of new jobs, IF governments provide the them with the right encouragement.

De nombreux pays créent des cartels à fin de contrôler le prix d'importants produits de base, dans le but de tirer le maximum de recettes, ou de protéger d'importants secteurs d'activité locaux. Cependant, nombreux sont ceux qui reprochent aux cartels de pénaliser les consommateurs. Nous examinons le pour et le contre des cartels, en partant de l'exemple de la production du sirop d'érable.

Many countries create cartels to control the price of important commodities because they want to maximize their income or protect key domestic industries. But the use of cartels is criticized for causing higher prices for consumers. We investigate the pros and cons of cartels through the example of the maple syrup industry.

When it comes to borrowing money on the international financial markets, several countries of sub-Saharan Africa can now access money at cheaper rates than some European nations. The change is historic and could open up exciting opportunities for the continent.

Despite outnumbering men as college graduates within OECD countries, women are still underrepresented at the very top managerial levels, particularly in finance and business. In this podcast a group of women veterans of Wall Street describe how they got to Wall Street, what they found there, and offer advice to young women who want to get there. Read the associated article from Finance & Development magazine: http://www.imf.org/external/pubs/ft/fandd/2013/06/fang.htm

Many of the economies of sub-Saharan Africa are performing better than much of Europe. In fact, the region has just completed one of the best decades of growth since the 1960s. This is because it has learnt lessons from the past, say Uganda's finance minister, Maria Kiwanuka who is optimistic about the outlook for the continent.

More women in sub-Saharan Africa participate in the labor force than in any other region. But, most still face an uphill struggle to make ends meet. For them, the problem isn't finding work—it's the kind of work they do.

La réussite économique d'un pays dépend beaucoup du niveau d'éducation de sa population. Mais Rabah Arezki avance qu'une administration publique hautement éduquée est aussi cruciale pour la croissance.

A country's economic success depends a lot on how educated its population is. But as Rabah Arezki argues in an article in June's issue of Finance & Development, a highly educated civil service, in particular, can help promote growth for all.

Some economists say that a country’s exports can determine its economic fate. But William Maloney rejects the idea that exports play such a critical role. He says it’s not what you export, but how you do it.

With a gradually improving outlook for the global economy, growth in sub-Saharan Africa is set to strengthen to 5.5%, according to the IMF's latest forecast for the region. But growth patterns vary within the region.

Grâce à l'amélioration progressive des perspectives économiques mondiales, le taux de croissance devrait atteindre 5,5 % en Afrique subsaharienne, selon les dernières prévisions du FMI. Mais ce chiffre masque des disparités au sein de la région.

In recent years, commodity prices have been riding high, and many commodity dependent countries have benefited from these high prices. But this boon is unlikely to last forever: prices may fall, and nations can run out of key commodities.

When a country shifts from being largely based on agrarian economy, to being based on services, or industry, it is said to have undergone structural change. This was the basis of economic development in many Asian countries. Harvard's Dani Rodrik explains why structural change is so critical to development.

Although global growth is expected to reach 3.3% this year, and 4% in 2014, the health of the world's economy is mixed. Olivier Blanchard, Chief Economist at the IMF explains that although the worst is behind us, policymakers still can't afford to relax.

Bien qu'une croissance mondiale de 3,3 % soit prévue cette année, et de 4 % en 2014, la santé de l'économie mondiale est mitigée. Blanchard, économiste en chef au FMI, explique que, si nous avons passé le pire, les dirigeants ne peuvent toujours pas se permettre de relâcher leur effort.

In the last two decades, many low-income countries have experienced economic take off. But in the 60s and 70s, many of these same countries already boasted robust economic performances, until it all came to an abrupt stop. Can low-income countries keep on growing, this time?

Dans le processus de développement, les pays subissent des changements structurels. Autrement dit, leurs priorités économiques évoluent d'un secteur à l'autre. Ils diversifient leurs produits, favorisant ainsi leur ascension économique. Mais quand un pays aussi vaste que la Chine procède à des réformes structurelles, l'impact se ressent au-delà de ses frontières.

When you want to get a better job or achieve personal development, you might choose to increase your skills. This might mean learning something new, or acquiring more education. It's the same with countries, if they want to climb up the ladder of development, they need to develop their capacity, or "capabilities," says top economist Ricardo Hausmann.

تأخرت بلدان منطقة الشرق الأوسط وشمال إفريقيا عن اللحاق بركب اقتصادات الأسواق الصاعدة والبلدان النامية في مجالي النمو الاقتصادي والتجارة على مدار العقدين الماضيين، ولم تكن التجارة في هذه البلدان بمثابة المحرك القوي للنمو مقارنة بالبلدان الأخرى. تركز مقالة في عدد مجلة التمويل والتنمية لصندوق النقد الدولي على هذه المستويات المنخفضة في التجارة في المنطقة. ويوضح الخبير الاقتصادي "أمين ماتي" كيف يمكن توسيع نطاق النمو في المنطقة.

In many countries, governments often subsidize the energy sector keeping the price of power lower than it might otherwise be. The aim is to protect the poor by keeping prices low. But, a new study by the International Monetary Fund suggests that these subsidies don't always have the desired effect.

Les subventions énergétiques jouent un rôle important dans de nombreuses régions du monde. Elles peuvent aider les pauvres en facilitant leur accès à l'énergie. Toutefois, une nouvelle étude du FMI indique que ces subventions ont souvent des conséquences imprévues.

Supporters of globalization say that globalization creates growth by encouraging people and countries to interact and trade with each other across national borders. But, has the focus on international integration caused policymakers to overlook the need to integrate their national economies?

Sub-Saharan economies might be performing well now, but not so long ago, they were mired in debt. During the 70's, many of them borrowed money to unsustainable levels and found themselves unable to service their debt. Joly explains how they got out of their predicament.

Les pays d'Afrique subsaharienne enregistrent de bons résultats aujourd'hui, mais il n'y a pas si longtemps, ils étaient surendettés. Dans les années 70, beaucoup d'entre eux ont emprunté dans des proportions intenables et se sont trouvés dans l'incapacité de repayer leur dette.

Mozambique has had one of highest growth rates in Sub-Saharan Africa over the past two decades. But the increased riches aren't being enjoyed by all. The government is now aiming for "inclusive growth"—something which the IMF is increasingly pursuing in ITS work in Sub-Saharan Africa. But what is "inclusive growth", and how to achieve it?

The euro area may be the world's largest and most well-known regional currency union, but the Eastern Caribbean Economic and Currency Union is an interesting microcosm of its larger European counterpart. The two could learn lessons from each other, suggests an IMF economist.

The 1944 Bretton Woods conference laid the foundations of the modern international monetary system, but little was known about the exact proceedings of that historic gathering, until now. A U.S. treasury economist's discovery of the original transcript of that meeting provides an insight into the characters and the intense debate surrounding the birth of two major international organizations.

Fiscal policy—or the way a government taxes, spends and borrows money—can have a huge impact on reducing inequality. But according to a recent IMF study, that impact has been shrinking over the past decade, as governments scale back social benefits, and make income taxes less progressive.

Un état est considéré fragile lorsqu'il souffre d'instabilité politique et économique, de pauvreté, qu'il se prête au trafic humain, qu'il est ravagé par les maladies ou qu'il subit tous ces fléaux à la fois. Mais comment identifier un état fragile et quelles politiques les états fragiles peuvent-ils mener pour devenir des nations pleinement opérationnelles?

The features of a fragile state can include political and economic instability, poverty, civil disorder, terrorism, human trafficking, disease, or all of these. But how to identify a fragile state, and what policies can fragile states pursue to become fully functioning nations?

Over the past several decades, advanced economies, especially the United States, have seen a striking rise in inequality. David Autor of MIT, argues that trend is driven by rapidly developing technology, which has made highly educated workers much more valuable, and which is pushing others out of jobs.

The global economy is set to strengthen gradually in 2013, but risks remain. In the latest update to its World Economic Outlook, the IMF projects growth will be 3.5% this year. In this podcast, the IMF chief economist explains that despite the brighter outlook, policymakers need to address risks to the global economy.

Dans le dernier rapport sur les Perspectives de l'économie mondiale, le FMI prévoit une croissance de 3,5 % cette année. Dans ce podcast, Mr. Blanchard explique qu'en dépit de l'amélioration des perspectives, les dirigeants doivent s'attaquer aux risques qui pèsent sur l'économie mondiale.

World leaders have avoided a collapse of the global economy, but they must now follow through with reforms to avoid a relapse into crisis, says Christine Lagarde, the head of the IMF.

Durant ces dernières années, l'évolution en dents de scie des cours des matières premières a porté atteinte à de nombreuses régions, et notamment à l'Afrique subsaharienne. Le sort des pays de la région est en effet intimement lié aux fluctuations de ces prix. Que peuvent donc faire les pays pour se protéger contre ces chocs?

Selon Acemoglu, la pauvreté ou la prospérité d'une nation sont sans doute autant l'affaire de la politique que de l'économie. Il avance que les pays plus démocratiques dotés d'institutions politiques «inclusives» parviennent à créer et à entretenir la prospérité, tandis que les régimes «extractifs» autoritaires mènent à la pauvreté.

In the second part of our series on social safety nets in sub-Saharan Africa, we look at practice on the ground. In Burkina Faso, the IMF is working with the government to develop targeted welfare programs. The aim is to identify and help the most vulnerable. But it is still a work-in-progress.

Globally, over 200 million people are unemployed, according to the IMF. Many European markets and emerging markets are suffering double-digit jobless rates, and youth and long-term unemployment are at alarming levels. What skills then do job seekers in a global labor market need to succeed?

Social safety nets aren't just charitable handouts, they're an essential way to ensure growth is sustainable, says the IMF. Safety nets range from cash transfers through health care, to public works programs to create employment. Over the last decade, more countries in sub-Saharan Africa have been adopting social safety nets to help their poorest.

The volatility and price spikes of raw commodities has affected many regions in recent years—sub-Saharan Africa among them. This is because the price of a commodity can make or break the health of a country in this region. What then can countries do to protect themselves from price shocks?

A nation's poverty or prosperity may have as much to do with politics as economics, says Daron Acemoglu. He argues that more democratic countries with inclusive political institutions create sustained prosperity, while "extractive," authoritarian regimes lead toward poverty.

Underdevelopment has often been blamed on bad policies adopted by national governments. Augustin Fosu has identified four such policies which he believes have been the cause of inefficiency, overregulation and misallocation of resources

In the last two decades, growth has accelerated significantly in most of sub-Saharan Africa. Researchers at the IMF have been exploring whether this high growth has also led to, what economists describe as, "structural transformation" on the continent.

Decades after the end of colonial rule in Africa, and more than one hundred years after the official end of the slave trade in the US, the continent remains among the least-developed regions of the globe. But how far is the trade in human beings responsible for Africa's lack of economic progress?

Les pays émergents et en développement ont remarquablement résisté au récent marasme économique. De la crise asiatique des années 1990 à la crise de 2008, ils ont vite rebondi, prenant même de l'essor. Comment expliquer cette amélioration de la performance ? Abdul de Guia Abiad remonte aux sources de nombreux cas de réussite et cerne quelques facteurs communs.

La crise financière mondiale a mis en évidence l'augmentation des inégalités de revenus dans le monde. Thomas Piketty a étudié cette disparité croissante ces dernières années et plaide en faveur d'une imposition progressive pour atténuer cette tendance.

Devant la recrudescence de la hausse des prix des produits alimentaires et pétroliers, Samya Beidas-Strom, économiste au FMI, montre que la volatilité de ces prix peut être atténuée.

Despite their oil wealth, the countries of the Central African Economic and Monetary Community still struggle with the "Resource Curse". Sharmini Coorey, Director of the IMF's Institute of Capacity Development describe the challenges of managing oil wealth in the region, and outline policies that could help overcome them.

China's current account surplus has declined dramatically over recent years. Many economists believe this signals a much needed rebalancing of the world's second largest economy toward domestic sources of growth. So, what's the reason behind this drop and what does it mean for the rest of Asia?

Financial crises have been with us for hundreds of years. From the currency crisis of the Roman Empire to more recent events such as the 2008 financial meltdown, financial crises have been pervasive in market economies. Gary Gorton argues that crises are inevitable, but that with the right policies, their effects can be mitigated.

Selon Kemal Dervis, trois tendances fondamentales sont aujourd’hui à l’œuvre au sein de l’économie mondiale : la convergence de la croissance des économies émergentes et avancées, l’interdépendance des mouvements conjoncturels des différents pays et la divergence des revenus au sein des sociétés.

Historically, countries that are rich in mineral and commodity resources, like oil, copper or coffee, for example, have had lower rates of growth compared to nations which don't enjoy those advantages. It's a phenomenon dubbed the nature resource curse." Jeffrey Frankel outlines ways he believes the natural resource curse can be mitigated or even avoided.

After a period of high growth between 2007 and 2010, Malawi's economic situation took a turn for the worst. Between 2010 and 2011, growth fell two percent from 6 and a half percent. But since April this year, when a new administration took office, the country has been enjoying renewed stability and revitalized relations with partners.

Après une période de forte croissance entre 2007 et 2010, la situation économique du Malawi s'est détériorée. Le taux de croissance qui se situait à 6,5 % en 2010 a perdu 2 points en 2011. Cependant, depuis avril, avec l'entrée en fonction d'un nouveau gouvernement, le pays connaît un regain de stabilité et renoue le dialogue avec les bailleurs de fonds.

La croissance de l'économie chinoise se modère, mais cela n'est pas nécessairement négatif. Le FMI dresse un bilan de la deuxième économie de la planète.

China's growth is moderating, but it's not all bad. The IMF's most recent thinking on the world's second largest economy.

L'Afrique subsaharienne a parcouru un chemin considérable. Il y a une dizaine d'années, d'aucuns parlaient d'un «continent sans espoir». Aujourd'hui, de nombreux observateurs soulignent la montée en puissance de l'Afrique. Thierry Tanoh partage ses idées sur les perspectives de développement de l'Afrique.

Sub-Saharan Africa has come a long way. Ten years ago, it was labeled the "hopeless continent" by one leading publication, but today, Africa is considered by many as a rising power. In this podcast, Thierry Tanoh, who has just left as Vice president of the International Finance Corporation, shares his insights on the prospects for Africa's development.

Face aux inégalités qui ne cessent de se creuser, il est courant de ne voir que les extrêmes de l'échelle salariale : les grandes fortunes et les gens qui peinent à survivre. Raghuram Rajan, ancien chef économiste du FMI estime que c'est plutôt le déclin des classes moyennes qui doit nous préoccuper.

As the trend towards increasing inequality continues, most attention is focused at the extremes: those who are paid at the top of the pay scale, and others who only manage to scrape by. But a former IMF Chief Economist says we should really be worried about "the missing middle."

How to find the best tortillas while traveling in Mexico? Why is American food so bad today? Is agribusiness good for the global economy? Prolific author, blogger and economist Tyler Cowen takes on these questions--and many more--in his new book, "An Economist Gets Lunch", reviewed in June's F&D; magazine.

La Côte d'Ivoire vient de se voir accorder un allégement de dette de plus de sept milliards de dollars. Cela représente plus de 60 % de la dette extérieure du pays et ouvre des perspectives plus viables pour celui-ci.

Côte d'Ivoire has been granted over seven billion dollars in debt relief. This represents more than 60 percent of the country's external debt, and will help create a more sustainable future.

In California, a prisoner can pay to upgrade his cell, women are paid to carry a pregnancy, businesses pay to advertise on people's bodies. Is this moral? Sandal believes we need to prevent market values from reaching spheres of life where they don't belong.

Martin Wolf, columnist for the Financial Times and contributor to the Occupy Handbook, explains the challenges to reforming the economic system.

From the jammed streets of Beijing, China, to the conflicts in the Mideast and on Capital Hill, the quest to secure energy supplies has shaped global politics and economics, says one of the world’s leading energy experts.

Pourquoi certains pays sont-ils riches et d’autres, pauvres? Pour James Robinson, la richesse d’un pays est liée avant tout à la mesure dans laquelle le citoyen moyen a la possibilité de bénéficier de la croissance économique globale du pays. Mais, précise-t-il, il y a toujours des minorités soucieuses d’accaparer le pouvoir et la richesse.

Why are some countries rich and others poor? James Robinson argues that the wealth of a country is most closely tied to how far the average person is able to share in its overall economic growth. But he warns that there is always a tendency for a small minority to try and concentrate power and wealth in its hands.

Over the past decade, oil prices have increased fourfold, reaching levels only seen in the 1970’s. But the global economy has been resilient in the face of these spikes. Jorg Decressin of the IMF research department explains.

Durant la dernière décennie, les cours du pétrole ont quadruplé, atteignant des niveaux jamais vus depuis les années 70. L’économie mondiale s’est toutefois montrée résiliente face à l’envolée des cours. Éclairage de Jorg Decressin du Département des études du FMI.

Après une longue période de troubles sociaux, la Guinée renoue avec la stabilité politique. Selon le FMI, en 2012 le taux de croissance du PIB devrait se situer à 4,7 %. Malgré des perspectives favorables, la Guinée reste aux prises avec un niveau élevé d’inflation et de déficit. Le Ministre des Finances guinéen explique son programme économique pour les années à venir.

In the June issue of Finance and Development we review "The Occupy Handbook". In this podcast, one of the contributors to the book explains why inequality is at the heart of the global crisis.

Dans la dernière édition des Perspectives économiques régionales pour l’Afrique subsaharienne, le FMI explique la solide croissance que connaît la région par le fait qu’elle soit relativement isolée des facteurs négatifs qui plombent l’économie de beaucoup d’autres pays.

Despite the weaker global economic environment, sub-Saharan Africa is expected to continue growing strongly in 2012, according to the IMF. In its latest Regional Economic Outlook for Africa, the IMF says the region's robust growth is because it is relatively isolated from negative factors pulling down many other countries.

Foreign Direct investment has been booming globally. In 2007 it reached a peak of $2 trillion. Money from Brazil, Russia, India and China to low-income countries—especially those in Sub-Saharan Africa—is flowing especially quickly, fueling growth and development.

Après des années de conflit, la plus grande économie d'Afrique de l'Ouest se tourne vers l'avenir avec des politiques revigorées. Entretien avec Charles Koffi Diby, Ministre des finances.

Après une tumultueuse année , le Burkina Faso doit maintenant affronter les retombées humanitaires du conflit malien sur son territoire, ainsi qu’une une légère crise alimentaire tout en naviguant un contexte économique mondiale difficile. Le ministre des finances Burkinabé, Lucien Bembamba, nous explique comment le pays va de l’avant.

Nigeria's charismatic finance minister talks about Nigeria's vigorous growth, the reforms Africa needs to continue powering ahead, and that failed bid for the World Bank presidency.

Last week, to coincide with the IMF's regular World Economic Outlook, we reported on the slowly improving prospects for the global economy. This week we look beyond the headlines and analyze how a potential increase in oil prices, large household debt, or volatile commodity prices could derail the fragile recovery. Rebecca Kaufman reports.

في هذا البث الصوتي، يشير الدكتور أحمد فاروق غنيم، أستاذ الاقتصاد بجامعة القاهرة، إلى بعض التحديات التي تواجه الاقتصاد المصري حاليا، والتي تتمثل في ارتفاع عجز الموازنة وتناقص حجم الاحتياطيات الأجنبية بشكل كبير وكذلك المشاكل الهيكلية ولاسيما البطالة.

Earlier this week, we heard from IMF experts about their expectations for the world economy. Now, with the IMF-World Bank Spring Meetings in full gear, we asked journalists from around the world for views from their region. What does state of the global economy look like, and what do they see are the biggest risks out there?

The global economy has entered a "timid" recovery but still faces high risks, with some dark clouds on the horizon, IMF Managing Director Christine Lagarde said at the IMF/World Bank Spring Meetings in Washington DC.

Les perspectives de l'économie mondiale s'améliorent lentement, mais une autre crise en Europe ou une montée en flèche des cours du brut pourrait compromettre une reprise mondiale fragile, déclare Olivier Blanchard dans un entretien accordé à l'occasion de la publication du rapport des Perspectives de l'économie mondiale.

Prospects for the global economy are slowly improving, but another crisis in Europe, or a spike in oil prices could undermine the fragile global recovery, warns Olivier Blanchard, Chief Economist of the International Monetary Fund, in this interview to mark the release of IMF's latest World Economic Outlook.

Les investissements chinois en Afrique subsaharienne ont été en hausse ces dernières années, culminant en 2008 à plus de 5 milliards de dollars. Bien que non sans controverse, leur expansion a un effet majeur sur la croissance africaine. Mais ce mouvement se poursuivra-t-il?

Chinese investment in Sub-Saharan Africa has been on the rise in recent years, peaking in 2008 at more than $5 billion dollars. Although not without some controversy, the increasing investment is having a mojor impact on African growth. But will it continue?

Many blame the financial sector for the current economic downturn, but in his new book, Robert Shiller aims to change our way of thinking about the much maligned industry.

Les envois de fonds jouent un rôle de plus en plus important dans le financement des pays en développement. Comment donc mettre en valeur l’argent envoyé par les travailleurs migrants pour combattre la pauvreté au niveau mondial?

Remittances have become an increasingly important source of financing in the developing world. So how can money sent home by migrant workers best be used in the fight against global poverty?

Malgré les retombées de la crise de la dette européenne, les troubles en Côte d’Ivoire et une grave sécheresse au Sahel, tout porte à croire que l’Union économique et monétaire ouest-africaine (UEMOA) fera la preuve de sa résilience cette année. Le FMI estime que, après avoir été inférieur à 1 % en 2011, le taux de croissance sera de 7 % cette année.

Despite struggling with the effects of the European debt crisis, political turmoil in Cote d'Ivoire and a severe drought in the Sahel, the West African Economic and Monetary Union (WAEMU) promises to prove its resilience in the coming year. After growing less that 1% in 2011, the IMF estimates growth to rebound to 7% this year.

Ahead of a conference jointly hosted by IMF and the government of Samoa in Apia on March 23, IMF Deputy Managing Director Min Zhu talks about how the Pacific region can promote inclusive growth and build resilience to shocks.

Over the last few years, many countries in Sub-Saharan Africa have benefited from the rise in commodity prices. But being wealthy in natural resources brings its own problems. The IMF is to host a conference in Kinshasa to discuss how these problems might be overcome.

Ces dernières années, beaucoup de pays subsahariens ont profité de la hausse des cours des produits de base. Mais l'abondance de ressources naturelles apporte ses propres problèmes. Le FMI organise une conférence à Kinshasa pour examiner comment ces problèmes peuvent être surmontés.

La famine est un problème chronique du Sahel, mais la sécheresse qui sévit actuellement a anéanti les cultures et aggravé la situation alimentaire. Des millions de personnes sont menacées. La communauté internationale en est-elle consciente?

Hunger is a chronic problem in the Sahel. But now a widespread drought has wiped out crops and made the food situation worse. Millions are at risk. Is the international community taking enough notice?

Au niveau mondial, les investissements directs étrangers explosent. En 2007, ils se sont envolés à 2 billions de dollars EU. Les investissements des nations BRICS dans les pays à faible revenu se sont nettement accélérés, alimentant la croissance et le développement.

To coincide with the release of March’s Finance & Development, we interview one of the contributors to this quarter’s magazine, Philip Coggan. In a new book, Coggan argues that the extraordinary rise in debt levels in recent years will reshape our world order.

As the East African Community considers an ever closer union, the EAC and the International Monetary Fund co-host a conference to draw lessons from the turmoil in the euro area.

Une nouvelle crise s’annonce dans une région depuis longtemps soumise aux pénuries alimentaires. La sécheresse fait resurgir le spectre de la faim pour des millions d’habitants du Sahel. L’un des pays de la région — le Mali — a entrepris de gérer la menace d’une nouvelle urgence alimentaire.

Over the last decade, the East African Community has enjoyed some of the fastest growth rates in the world. To continue on its growth path, IMF economists suggest the region can learn lessons from other countries which have enjoyed rapid development.

À l’échelle mondiale, les pays africains sont probablement parmi les moins biens lotis en matière d’infrastructure. Pendant de longues décennies, les gouvernements de la région manquaient d’options pour financer ces projets. La situation a changé, mais pas nécessairement dans le bon sens.

A drought is threatening to bring hunger to millions of people in the Sahel—a belt of grassland and savanna running across Africa under the Sahara desert. We look at how one country, Mali, is coping with a looming food emergency.

Africans suffer some of the weakest infrastructure in the world—a reality holding the continent back from further growth and prosperity. For decades, governments in the region had few options for funding major infrastructure projects. It's all different now. But that's not necessarily a good thing.

Depuis l’éclatement de la crise financière mondiale, les agences de notation ne cessent d’être vouées aux gémonies. De fait, la commission d’enquête mise en place aux États-Unis pour élucider les causes de la crise voyait en elles «d’importants facteurs de l’effondrement financier». Mais en fin de compte, qu’est-ce qu’une agence de notation? Quel est son rôle exactement?

Poland was granted a precautionary loan under the IMF's Flexible Credit Line in 2010 but hasn't needed to draw on the funds. How did Poland manage to weather the global crisis with some of the highest growth rates in Europe?

الفساد موجود في العالم كله، لكن تأثيره على البلدان النامية أكبر نسبياً. في هذا البث الصوتي، يشير أحد خبراء الاقتصاد إلى دور النظام السياسي في هذا الصدد، ويقول إن بعض الأنظمة الحكومية أقدر من غيرها على التصدي للفساد.

Le FMI a sensiblement révisé à la baisse ses prévisions de croissance mondiale pour cette année. Lors d'une entrevue marquant la mise à jour des Perspectives de l'économie mondiale, Olivier Blanchard, le conseiller économique du FMI signale que la zone euro connaîtra vraisemblablement une modeste récession qui touchera le reste du monde.

The International Monetary Fund has sharply cut its forecast for world growth this year. In an interview to mark the publication of an update to its World Economic Outlook, the Chief Economist to the IMF, Olivier Blanchard, said the euro area is likely to fall into a mild recession affecting the rest of the world. Jennifer Beckman reports.

La corruption est omniprésente dans le monde, mais elle touche les pays en développement de façon disproportionnée. Un économiste du FMI souligne le rôle que joue l'ordre politique et précise que certains systèmes de gouvernement sont mieux à même de combattre la corruption que d'autres.

Corruption exists the world over, but it affects developing countries disproportionately. One economist points to the role played by the political order. He says some systems of government are better able to fend off corruption.

Kenya, one of Africa's most dynamic economies, has been powered by a boom in the Information Technology sector. Kariuku Gathitu is a young Kenyan entrepreneur and founder of a software company specializing in mobile money transfers. In this podcast, he shares his insights about doing business in one of the fastest growing economies in Africa.

Le Kenya, l'une des économies les plus dynamiques d'Afrique, bénéficie de l'essor des technologies de l'information. Kariuku Gathito, jeune entrepreneur kenyan, est le fondateur de Zege Technologies, un fabricant de logiciels spécialisé dans le transfert d'argent mobile. Dans ce podcast, il nous parle de l'activité commerciale dans l'une des économies les plus performantes du continent.

Most African countries are expected to continue growing in 2012. But grim economic prospects in many parts of the world threaten this positive outlook. Roger Nord of the IMF's African Department identifies the challenges facing Africa this year.

La plupart des pays africains devraient se maintenir sur la voie de la croissance en 2012. Cependant, les sombres nuages qui pèsent sur l'économie mondiale menacent ces bonnes perspectives. Roger Nord, du Département Afrique du FMI, évoque les défis que l'Afrique devra relever cette année.

The 1990s was a momentous time for the IMF. The organization oversaw the transition of many former Eastern bloc countries into market economies, played an important role in the aftermath of major capital account crises, all the while, introducing historic reforms back at headquarters. The IMF’s official historian talks about this tumultuous era.

After the dire food shortages, almost 25 years ago in Ethiopia, American aid helped implement an early warning system aimed at forecasting likely food emergencies. So why wasn't the Horn of Africa foreseen?

Suite aux famines qui avaient ravagé l'Éthiopie il y a près de 30 ans, la coopération américaine avait aidé à mettre en place un système d'alerte avancée pour détecter les risques de pénurie alimentaire. Comment expliquer alors que le drame de la Corne de l'Afrique n'ait pas pu être prévu?

Christine Lagarde se prépare à effectuer son premier déplacement en Afrique en qualité de Directrice générale du FMI. Dans ce podcast, elle explique l’objectif de sa visite au Nigéria et au Niger, et évoque l’étroite relation de partenariat qui existe entre le continent et l’institution.

Christine Lagarde is set to visit Africa for the first time since her appointment as Managing Director of the IMF. In this podcast, she explains the purpose of her trip to Nigeria and Niger and the deep partnership between the IMF and the continent.

For the last three decades, in many countries, the rich have become ever richer, while the vast majority have seen their incomes stagnate. This increasing income inequality has been coupled with ever greater debt burdens. How did we get to this point? IMF economists believe they have some answers, drawing a link between higher inequality and increased debt.

Depuis une trentaine d'années, dans beaucoup de pays, les riches deviennent encore plus riches, tandis que les revenus de la grande majorité des ménages ne bougent pas. Cette aggravation des inégalités de revenu s'accompagne d'un endettement croissant. Comment en est-on arrivé là? Des économistes du FMI pensent avoir des éléments de réponse, et établissent un lien entre la montée des inégalités et l'endettement.

Does economic growth improve life for all? Many economists are coming to the conclusion that rather than simply growing the economic pie, we need to consider how the economic pie is shared. So how to ensure that we all grow together?

La Chine talonne les États-Unis pour la place de première puissance économique mondiale. L'économie chinoise pourrait dépasser l'économie américaine en un peu moins de dix ans, d'après Arvind Subramanian. Dans un livre qui vient de paraître, il entrevoit un monde dominé par la superpuissance économique de la Chine.

L'essor de l'activité économique profite-t-il à tous? De nombreux économistes parviennent maintenant à la conclusion qu'il est en fait dans l'intérêt d'un pays de promouvoir une croissance solidaire.

China is swiftly closing in on the United States as the world's largest economy. The Asian nation's growth rate is several times that of the US, and China's economy could be the world's largest within a decade, according to Arvind Subramanian. In a new book, he envisages a world dominated by China's overwhelming economic power.

Over the last three decades, in many parts of the world, the rich have got much richer, while just about everyone else has had very modest income growth. In this podcast, two IMF economists warn that inequality undermines growth.

To coincide with the release of her new book, "Grand Pursuit: the Story of Economic Genius", reviewed in this December's "Finance and Development" magazine, we interview author Sylvia Nasar and historian Robert Skidelsky on a key figure of modern economics, John Maynard Keynes.

Durant ces derniers mois les cours des produits de base sont montés en flèche et beaucoup de pays en développement ont eu du mal à s'approvisionner pour nourrir leur population. Que peuvent faire les pays pauvres pour se protéger contre le renchérissement des denrées alimentaires?

In recent months, the cost of basic staples has increased sharply, leaving many low-income countries struggling to buy food for their populations. What can poor countries can do to protect their people from surging food prices?

De nombreux écueils économiques vont de pair avec l'abondance de ressources naturelles dans un pays : hyperinflation, «syndrome hollandais» ou volatilité des cours des produits de base. Mais il y a aussi des risques politiques. Un politologue explique pourquoi les considérations politiques sont aussi importantes que les facteurs économiques.

Voici plus d’un demi-siècle, que le produit intérieur brut sert de principal indicateur du progrès d’un pays. Or, selon Joseph Stiglitz, le PIB ne rend pas compte du bien-être général. Le prix Nobel plaide pour une croissance plus solidaire.

Since the global financial crisis, youth unemployment has risen rapidly. Worldwide, the rate of unemployment among people aged 15–24 years old, stands at over 13 percent, according to the International Labor Organization. In Africa, the problem is particularly acute. In this podcast, we explore the causes and the policies which could help.

Over the last decade, many countries in sub-Saharan Africa have experienced much higher growth than in the past. But have those gains been shared equally by all? Two Fund economists discuss how far economic growth in Africa has improved the lives of the poor.

Depuis une dizaine d'années, de nombreux pays d'Afrique subsaharienne connaissent une croissance plus dynamique que par le passé. Mais les fruits de cette croissance sont-ils partagés équitablement? Deux économistes du FMI examinent le rapport entre la croissance économique et l' amélioration du sort des plus démunis.

تشهد منطقة الشرق الأوسط وشمال أفريقيا تغيرات ديناميكية بسبب الفساد والفروق الكبيرة في مستويات المعيشة وارتفاع معدلات التضخم والبطالة وعدم توجيه الموارد بكفاءة لتحسين أحوال الفئات الأقل دخلا. من وجهة نظر الدكتور أحمد النجار يمكن معالجة بعض هذه المشكلات في مصر عن طريق إصلاح نظام الدعم السلعي، وزيادة التشغيل وتحسين بيئة الأعمال.

The IMF is optimistic about the prospects for Sub-Saharan Africa, and expects regional growth to be around 5 percent in the coming year. But commodity price swings, inflation and the risk of a global downturn threaten this outlook. The Director of the IMF's Africa Department identifies the latest key economic trends in the region and how they will affect its people.

Le FMI voit avec optimisme les perspectives de l'Afrique subsaharienne et prévoit un taux de croissance d'environ 5 % pour l'année prochaine. Les fluctuations des cours des matières premières, l'inflation et le risque de ralentissement de l'économie mondiale pèsent toutefois sur ces perspectives.

The IMF has opened a new technical assistance center in Mauritius which will allow member countries in southern Africa to leverage IMF know-how. The opening of "Afritac" is in response to growing demand for IMF expertise.

There are many economic pitfalls associated with being a resource-rich country: high inflation, Dutch disease, and volatile commodity prices, to name a few. But there are also political dangers. A top political scientist explains why political factors are as important as the economic.

La découverte de pétrole au large du Ghana en 2007 avait soulevé un vent d'optimisme dans le pays. Mais le Ghana était également déterminé à ne pas devenir la proie de la corruption et des conflits dans lesquels d'autres pays pétroliers s'étaient enlisés. Alors, quatre ans plus tard, où en est ce pays d'Afrique de l'Ouest ?