(AGENPARL) – ven 10 marzo 2023 The latest IMF analysis of global economics, finance, development and policy issues shaping the world. []
[Hero weekend read]
Dear Colleague,
In today’s edition, we highlight:
– The best response to major economic shocks
– Mounting cyber security threats
– Globalization
– India’s greenhouse gases
– Jamaica’s climate reforms
ECONOMIC GROWTH
(Credit: fotoVoyager/iStock by Getty Images)
Economists will be studying the pandemic for generations to learn from the dramatic global downturn and the ensuing credit crunch, but one important lesson about the scope of action needed to contain the next global crisis is already coming into focus.
“Our results underscore the importance of decisive action in terms of breadth and intensity of pandemic policy responses,” they say.
An all-out approach can have unintended consequences, however.
“Large fiscal and monetary packages could support credit and the economy but also fuel sharp inflationary pressures. In countries with high debt, an increase in discretionary spending could strain debt sustainability.”
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INTERNATIONAL WOMEN’S DAY
Message from the Managing Director
CYBER SECURITY
(Credit: Peter Nguyen/Unsplash)
Cyber attackers continue to target the financial sector. What will happen when an attack takes down a bank or other critical platform, locking users out of their accounts?
Tight financial and technological interconnections within the financial sector can facilitate the quick spread of attacks through the entire system, potentially causing widespread disruption and loss of confidence. Cybersecurity is a clear a threat to financial stability.
“The strength of cyber defenses depends on the weakest link,” Adrian writes. “With growing interconnections across the world, curbing risk requires an international effort.”
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The longtime critics of globalization are having another moment, claiming supply chain shortages, high inflation, and increasing migration are products of an overly globalized world. But in this podcast Princeton international relations professor Harold James says history suggests more globalization, not less, can help counter those disruptions in the global economy.
FINANCE & DEVELOPMENT
(Credit: Pete Reynolds)
Brunnermeier discusses the main challenges central banks will face, which monetary theories will be in the limelight, and how central banks can avoid becoming complacent and end up fighting the last war.
“Central banks should return to a monetary approach in which stabilizing inflation expectations is a central priority.”
The latest edition of F&D Magazine focuses on New Directions for Monetary Policy. Authors include Gita Gopinath, Raghuram Rajan, Markus Brunnermeier, Masaaki Shirakawa, Christoffer Koch, Greg Kaplan, Giancarlo Corsetti, Michael Weber, Claudio Borio, and many more.
INDIA
(Credit: Memories Over Mocha/Adobe Stock, jpeter2/pixabay, Sudarsan Thobias/Adobe Stock)
While a modest increase in short-term emissions may be necessary to meet the country’s poverty reduction and energy security goals, a more rapid scaling up of current policies could bring India closer to a path to net zero by 2070, the authors say.
Greener policies would generate enough fiscal revenues to compensate the poorest for a modest loss of income (relative to projections based on current policies) to such an extent that the policy would be progressive overall.
The authors say that lower emissions would have significant benefits, too, including greater energy security, less pollution, longer lives and fewer lost school and work days.
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RESILIENCE AND SUSTAINABILITY FACILITY
(Credit: Adobe Stock / Zach)
Jamaica has become the fifth country in as many months to tap the Resilience and Sustainability Facility, the IMF’s new facility to provide affordable financing to countries struggling to adapt to climate change or other long-term risks.
The IMF’s Executive Board approved a $764 arrangement under the RSF to strengthen the Caribbean nation’s resilience to climate change, advance decarbonization of the economy and manage transition risks.
“They create incentives to switch to renewables, reduce energy consumption, develop green financial instruments, and require proper management of climate risks in the financial sector.”

Testo Allegato:
Camera dei DeputatiUfficio stampa Comunicato10 marzo 2023Coesione europea e nazionale, audizione Ministro FittoMercoledì alle 13.30 diretta webtvMercoledì 15 marzo, alle ore 13.30, presso la Sala del Mappamondo di Montecitorio, le Commissioni riunite Bilancio di Camera e Senato svolgono l’audizione del Ministro per gli Affari europei, il Sud, le Politiche di coesione e il Pnrr, Raffaele Fitto, in merito alla Relazione sullo stato di attuazione della politica di coesione europea e nazionale – Programmazione 2014-2020. L’appuntamento viene trasmesso in diretta webtv.Com00381