This study examines external and domestic influences on Latin America’s economic performance over the past decade and a half. It notes that over the past few years, macroeconomic policies have strengthened and structural reforms have been implemented. Together with a favorable external...

Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s...