(AGENPARL) – ven 08 luglio 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 discuss how fairer taxes could aid growth and ease inequality in the Middle East and Central Asia, what history can teach us about turbulent times, Portugal’s economic recovery, Central America’s growth opportunities, green jobs in the United States, the pandemic’s uneven impact in Europe, and much more.
Middle East and Central Asia
Why Countries Must Cooperate on Carbon Prices
(PHOTO: ANDREI VASILEV/ISTOCK BY GETTY IMAGES)
Countries in the Middle East and Central Asia have a long history of using taxes to develop their economies and promote social inclusion. The first income tax can be traced back 5,000 years to Ancient Egypt. The Pharaohs used it to build granaries and feed the poor during shortages. Zakat, a payment obligation akin to a progressive tax that began in the 12th century, is still collected to fund social spending in Saudi Arabia and elsewhere.
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In the 21st century, the gravest threat to international stability appears to lie in our societies’ greater interdependence, reinforcing the power of a shock from anywhere in the world to become systemic, Clavin continues.
“Turbulence can push individuals, institutions, and states to their limits. History shows that it simultaneously fosters creative, pluralistic, and dynamic advocacy that leads to new modes of cooperation, often in history’s darkest hours.”
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.
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WEEKLY ROUND-UP
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Nick Owen
Editor
IMF Weekend Read
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