RESEARCH

RESEARCH

CONFERENCE

Current Policy Challenges Facing Emerging Markets

A conference in Santiago, Chile discussed challenges facing emerging markets including rising trade barriers, weak commodity prices, the ongoing monetary policy normalization in advanced economies, and the increased volatility of world capital markets.

EXTERNAL SECTOR REPORT

The Dynamics of External Adjustment

After narrowing sharply in the aftermath of the global financial crisis, overall current account surpluses and deficits reached 3 percent of world GDP in 2018, declining marginally while rotating toward advanced economies in recent years.

GLOBAL OUTLOOK

Still Sluggish Global Growth

The July update of the IMF’s World Economic Outlook revises downward the projection for global growth to 3.2 percent in 2019 and 3.5 percent in 2020. While this is a modest revision of 0.1 percentage points for both years relative to the April projections, it comes on top of previous significant downward revisions.