This paper presents the views of Lawrence H. Summers on the U.S. current account deficit and the global economy … rate, in the range of 5.5 percent of GDP. It represents more than 1 percent of global GDP and absorbs close to two …-thirds of the cumulative current account surpluses of all the world’s surplus countries. Summers thinks that such a unique …

focuses on financial globalization, including the policy implications of the huge growth in cross-border capital flows …Assiduously tracking the trends and consequences of globalization, the IMF's quarterly magazine Finance & Development … has been a major forum for discussing-and dissecting-the policy options and challenges faced by governments in an era when …

important new challenges in an unusually unsettled world environment. After a period of strong expansion, the global economy … concerns remained in a number of countries …

include an analysis of international reserves changes in fiscal 2000, IMF financial operations and transactions, key policy …The Annual Report 2000 to the Board of Governors reviews the IMF's activities, policies, and financial position during … 2000 highlights the efforts of the IMF, together with other international institutions and groups, to strengthen the …

, and exchange rate policies of member countries …This 2004 Annual Report highlights that during FY2004, the IMF continued to work with its member countries to foster … policy advice; lending in support of stabilization and reform programs; and technical assistance in formulating sound …

This 2003 Annual Report highlights that during FY2003, the IMF held bilateral (country) discussions with 136 members … efforts, it continued to develop a system to assess countries’ vulnerability to balance-of-payments crises. The Executive …