Regional Economic Outlook, May 2009, Europe PDF Download

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1589068416
Category : Business & Economics
Languages : en
Pages : 73

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Book Description
Europe is in a deep recession. Adverse feedback between the financial and real sectors and across borders is likely to delay the recovery and create downside risks. Unprecedented policies have been undertaken to address the crisis-but are they likely to be successful and sufficiently coordinated for a tightly integrated region? To restore trust and confidence in financial markets, additional and forceful action will be essential. Maintaining fiscal support should help soften the downturn, in particular if sustainability is supported by solid medium-term strategies and fiscal frameworks. To be effective, these policies require coordination across advanced and emerging economies. The report's analytical work underpins the link between fiscal sustainability, coordination, and effectiveness, and stresses that emerging markets have been affected differently by the crisis, with the quality of policies and external vulnerabilities being key factors.

Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589068068
Category : Business & Economics
Languages : en
Pages : 252

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Book Description
This edition of the World Economic Outlook explores how a dramatic escalation of the financial crisis in September 2008 provoked an unprecedented contraction of activity and trade, despite active policy responses. It presents economic projections for 2009 and 2010, and also looks beyond the current crisis, considering factors that will shape the landscape of the global economy over the medium term, as businesses and households seek to repair the damage. The analysis also outlines the difficult policy challenges presented by the overwhelming imperative to take all steps necessary to restore financial stability and revive the global economy, and the longer-run need for national actions to be mutually supporting. The first of two analytical chapters, "What Kind of Economic Recovery?" explores the shape of the eventual recovery. The second, "The Transmission of Financial Stress from Advanced to Emerging and Developing Economies," focuses on the role of external financial linkages and financial stress in transmitting economic shocks.

Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
ISBN: 1589068424
Category : Business & Economics
Languages : en
Pages : 61

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Book Description
The global crisis is now affecting the countries in the Middle East and Central Asia region, and economic and financial vulnerabilities are rising. In the Middle East and North Africa, good economic fundamentals, appropriate policy responses, and sizable currency reserves are helping mitigate the impact of the shock. In the Caucasus and Central Asia, lower commodity prices and adverse economic developments in Russia have hit hard. The report notes that countries should prepare for the contingency of a prolonged global slowdown by supporting domestic demand for a longer period and strengthening financial systems further. In some countries with rising unemployment, it will be important to target government resources and policies on protecting the poor; in others, increased donor support will be necessary to maintain needed economic development.

Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1589068408
Category : Business & Economics
Languages : en
Pages : 98

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Book Description
Asia has been hard hit by the global financial crisis. Despite strong fundamentals, its pervasive linkages to the rest of the world have exposed it to the collapse of demand and credit in advanced countries. Exports and industrial production have fallen sharply, capital has started to flow out of the region, and leading indicators suggest further weakness ahead. Against this background, the May 2009 APD REO will discuss the latest developments in Asia, examine the prospects for the period ahead, and consider the policy steps needed to revive economic activity and restore corporate and financial sector health.

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 158906951X
Category : Business & Economics
Languages : en
Pages : 88

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Book Description
The recovery in Europe continues, supported by strong policy action to contain sovereign debt problems in the euro area. In advanced Europe, lingering uncertainties and market pressures make for moderate and unequal growth, creating challenges for macroeconomic and financial sector policies. The REO also sheds light on the governance issues revealed by the crisis, arguing that better policy frameworks, in particular at the euro area level, promise a stronger Europe. For the first time, the REO devotes a separate chapter to the outlook for emerging Europe, where, after a deep recession, an export-led recovery is under way. However, the rebound is uneven across the region, and policymakers face the difficult challenge of dealing with the legacies of the crisis, while not hurting the recovery. Beyond the short term, the REO argues that the region will need to find new growth engines, as the capital inflows-driven and credit-fueled domestic demand boom needs to give way to more balanced growth. Indeed, the REO emphasizes that active fiscal policy and coordinated prudential measures are key to avoiding a repeat of the boom-bust cycle the region has just endured.

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1616350636
Category : Business & Economics
Languages : en
Pages : 112

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Book Description
The May 2011 Regional Economic Outlook: Europe anticipates that recovery in the region will solidify, with recoveries in advanced and emerging Europe likely to be mutually reinforcing. Advanced Europe continues to absorb most of emerging Europe's exports, while the role of emerging Europe as a market for advanced Europe will expand. Chapters discuss the outlook and policy priorities for advanced and emerging Europe, and analyze the role of financial integration in the buildup and resolution of imbalances within the euro area.

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1616351284
Category : Business & Economics
Languages : en
Pages : 126

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Book Description
Following a strong showing in early 2011, the economies across Europe now face the prospect of a pronounced slowdown, as global growth has softened, risk aversion has risen, and strains in Europe's sovereign debt and financial markets have deepened, according to this issue of the Regional Economic Outlook for Europe. Downside risks are significant, and a further deepening of the euro area crisis would affect not only advanced Europe, but also emerging Europe, given its tight economic and financial ties. The policy stance in advanced Europe will need to be adapted to reflect the weakening and tense outlook, financial systems strengthened further, and a consistent, cohesive and cooperative approach to monetary union adopted by all euro area stakeholders. The cross-country experience in the past decade in Europe shows the difference that good policies can make in boosting growth, with some European countries having grown rapidly while others have stagnated. Escaping low-growth traps, through broad-based reforms that address macroeconomic imbalances and country-specific structural rigidities, is possible.

Author: Mr.Bas B. Bakker
Publisher: International Monetary Fund
ISBN: 1616353813
Category : Business & Economics
Languages : en
Pages : 348

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Book Description
Emerging Europe was particularly hard hit by the global financial crisis, but a concerted effort by local policymakers and the international community staved off impending financial meltdown and laid the foundations for renewed convergence with western Europe. This book, written by staff of the IMF's European Department that worked on the region at the time, provides a unique account of events: the origins of the crisis and the precrisis policy setting; the crisis trigger and the scramble to avoid the worst; the stabilization and recovery; the remaining challenges; and the lessons for the future. Five regional chapters provide the analytics to put events into perspective. Dedicated chapters for all 19 countries of the region dig deeper into the idiosyncrasies of each economy and provide extensive economic data. A final chapter distills the lessons from the overall regional experience and the wide intraregional diversity. Taken together, they make this book an indispensible reference for economic scholars of the region and beyond.

Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1589068564
Category : Business & Economics
Languages : en
Pages : 83

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Book Description
Asia has rebounded fast from the depth of the global crisis. Initially, the region was hit extremely hard, with output in most countries shrinking by much more than even those nations at the epicenter of the crisis. But starting in February 2009, Asia's economy began to revive. Exports and industrial production have increased again, financial pressures have eased, confidence has largely been restored. What explains this remarkable comeback? What challenges does the recovery pose to Asian policymakers? These are the main questions addressed in the IMF's October 2009 "Regional Economic Outlook: Asia and Pacific." The report discusses the latest developments in Asia, examines the prospects for the period ahead, and considers the policy steps needed to sustain the recovery and rebalance Asia's medium-term growth. Published biannually in May and October.

Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1484355067
Category : Business & Economics
Languages : en
Pages : 106

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Book Description
Europe continues to enjoy a strong growth spurt. Growth has firmed up in many European economies and the forecast is for more of the same. Real GDP increased by 2.8 percent in 2017, up from 1.8 percent in 2016. The expansion is largely driven by domestic demand, with investment increasingly contributing. Credit growth has finally picked up, which is helping Europe’s banks to rebuild profitability. While leading indicators have recently begun to ease, they remain at high levels. Accordingly, the forecast is for growth to stay strong, reaching 2.6 percent in 2018 and 2.2 percent in 2019. Amid the good times, however, fiscal adjustment and structural reforms efforts are flagging.