(AGENPARL) - Roma, 17 Giugno 2022 - (AGENPARL) – ven 17 giugno 2022 The latest IMF analysis of global economics, finance, development and policy issues shaping the world. []
[IMF Weekend Read]
Dear Colleague,
In today’s edition, we focus on the outlook for Caribbean economies as the managing director visits Barbados, how crypto can be more energy efficient, inflation, public banks and financial risks, Africa’s governance, Asia’s carbon prices, Moldova, the world’s fastest roads, and much more.
Caribbean
Why Countries Must Cooperate on Carbon Prices
(PHOTO: IMF PHOTO)
The Caribbean faces the most challenging economic circumstances for at least 70 years as countries rebuild COVID-scarred tourism industries, finances are stretched by rising inflation and interest rates, and climate change poses serious threats, IMF Managing Director Kristalina Georgieva said on Tuesday.
“Together we can define the right economic policies that can tame inflation, protect the most vulnerable, address debt, and fight climate change—so as to reinforce the economic recovery, and build resilience to future shocks.”
Caribbean economies contracted three times more than the rest of the world during the pandemic as tourists stayed away, but the IMF expects growth of 3.7 percent this year. However, rising sea levels and more frequent natural disasters pose a significant threat to all Caribbean countries.
“Mobilizing climate financing—and safeguarding debt sustainability affected by climate-related and natural disasters—requires a more comprehensive financial framework.”
Crypto
(PHOTO: UNSPLASH/CLAY BANKS)
Most of the world’s central banks have already agreed they should help fight climate change, a critical challenge that necessitates reductions in both energy consumption, and the carbon emissions associated with the energy consumed.
“Digital currencies, from crypto assets to central bank digital currencies, can play a role in the transformation that policymakers envision,” they say. “Policymakers should weigh energy needs along with other benefits and risks when they design CBDCs or consider the regulatory environment for crypto.”
(CREDIT: ISTOCK/GEARSTD)
The war is affecting countries across the globe, with rising commodity prices and inflation, heavily disrupted trade flows, a refugee crisis in Europe, and tightening financial conditions. Even more fundamentally, the “geopolitical tectonic plates” are shifting, raising the risk of global economic fragmentation.
“We must recognize that a fragmented world is a more volatile and vulnerable world, where access to safe assets is more restricted and the global financial safety net is less comprehensive. This is a world that needs the IMF more, not less. As an institution, we must find ways to deliver on our mission to provide financial assistance and expertise when needed and to maintain and represent all our members, even if the political environment makes it more challenging.”
Our June issue focuses on the economic dimensions of the current geopolitical situation, including the war in Ukraine, refugees, and food prices.
Authors include Tharman Shanmugaratnum, Pierre-Olivier Gourinchas, Eswar Prasad, Raj Chetty, Barry Eichengreen, Patricia Clavin, and many others, who examine the rare confluence of geopolitical, economic, and technological forces now confronting the world may reverberate for generations.
Want to get a print copy delivered to your home or office?
—————————————————————
(PHOTO: IMF PHOTO)
(PHOTO: IMF PHOTO)
(CREDIT: IMF)
(CREDIT: IMF)
WEEKLY ROUND-UP
—————————————————————
MARK YOUR CALENDAR
—————————————————————
[profile]
Nick Owen
Editor
IMF Weekend Read
Thank you again very much for your interest in the Weekend Read! Be sure to let us know what issues and trends we should have on our radar.
Connect on Social