Against a backdrop of declining oil prices, sharp variations in exchange rates, and market volatility, global growth remains uneven. The prospect of a new mediocre lingers as medium-term forecasts have been marked down since the last GPA. Promoting balanced, sustained growth requires an...

This paper discusses the history of the first 20 years of the IMF. It attempts to recount objectively what were its origins and what have been its plans and activities. The paper contains a chronological account of the evolution of the IMF from the original plans formulated in 1941 to the end of...

The global financial safety net (GFSN) has become larger and more decentralized, creating a need for greater coordination. The expanded GFSN has created multiple sources of official financing for countries in need of support to address balance of payments shocks. Enhanced coordination among...

After suffering a major setback, global prospects are gradually strengthening again. Improved activity in the United States and better policies in the euro area in response to the deepening economic crisis there have reduced the immediate threat of a sharp global slowdown. Weak recovery is...

Over the past five years much has been done to avoid the worst and stave off a great depression. While the recovery has been disappointing until recently, there are some encouraging signs that activity is strengthening in advanced economies. Breaking the cycle of growth shortfalls and recurring...

The global economy has entered a dangerous phase. Policy makers must act boldly to finish the job they began in 2009, lest the gains from the recovery since then be lost. Collective action can put the global economy on a path to strong, sustainable, and balanced growth

etary and Financial Committee Publication Date: April 5, 2014 Electronic Access:Free Full Text. Use the free Adobe Acrobat Reader to view this PDF file Summary:Global activity is strengthening, but the recovery is uneven and remains too weak for comfort, with geopolitical tensions injecting new...

The latest snapshot of the global economy looks uneasily familiar: a brittle, uneven recovery, with slower-than-expected growth and increasing downside risks. Bold and resolutely executed policies are needed to prevent growth from settling into a 'new mediocre,' with unacceptably low job...