Monetary Policy

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The IMF is turning 70. Here’s why you should celebrate

Tuesday, 8 April 2014
article
"As it nears the 70th anniversary of its conception at the Bretton Woods Conference in 1944, the International Monetary Fund (IMF) is arguably the public institution most essential to the future of the global economy," writes CIGI Senior Fellow Brett House

Media invited to attend ‘IMF — What Is It Good For?’ conference ahead of Spring Meetings

Friday, 4 April 2014
article
Media covering the 2014 Spring Meetings of the International Monetary Fund and World Bank Group are invited to attend the conference ‘IMF — What Is It Good For?’ on the occasion of the 70th anniversary of the IMF.

Economic rebalancing in China will require political reform, CIGI report says

Friday, 4 April 2014
article
China’s new leaders are unlikely to succeed in rebalancing the country’s economy without substantial political reform, according to a new report from CIGI.

Addendum: Is this time different?

Friday, 4 April 2014
blog
An earlier post pointed out that strengthened policy frameworks in many emerging market economies have reduced the risks of contagion. As a result, notwithstanding concerns about emerging market vulnerabilities in the wake of Fed tapering of quantitative easing, financial markets may discriminate between countries in contrast to past episodes of monetary policy "rebalancing."

Inside the Issues 4.22 | Great Expectations, Slow Transformations

Thursday, 3 April 2014
video
This week, CIGI Senior Fellow Manuela Moschella visits the Inside the Issues studio to discuss her new book, Great Expectations, Slow Transformations: Incremental Change in Post-Crisis Regulation. After reviewing some of the regulatory issues that initiated the 2008 financial crisis, Moschella discusses the role of global financial institutions along with the benefits of incremental regulatory reform. Would the global system be able to manage another financial crisis?

CIGI paper chronicles Canada’s role in multilateral financial diplomacy and identifies areas for improvement

Tuesday, 1 April 2014
article
Canada needs to become better at seizing leadership opportunities if it wants to hold influence over the international financial system, according to a new report from CIGI.

Banking Union: Progress Made, but the Devil Is in the Details

Tuesday, 1 April 2014
publication
The March 20, 2014 agreement on the Single Resolution Mechanism (SRM) is a major step toward repairing the euro area’s financial architecture. The SRM is the second pillar of the blueprint for banking union, following agreement on the Single Supervisory Mechanism (SSM), which will take effect when the European Central Bank (ECB) takes over the supervision of systemic banks in November 2014. Both pillars are needed to align banking supervision and resolution at a central level, thus avoiding any tensions between EU-level supervision and national resolution schemes.

China's Long March Toward Economic Rebalancing

Tuesday, 1 April 2014
publication
After more than three decades of sustained economic growth, China has become the second-largest economy in the world. Chinese policies and behaviour have come to shape the global economy in profound ways and what China does, or does not do, at home and abroad often has broad implications for the rest of the world.

Secular stagnation, deflation risks, beggar-thy-neighbor policies

Thursday, 27 March 2014
blog
Ok, so, here is the problem worrying some: Behind the encouraging headlines of somewhat stronger growth in the advanced economies, Larry Summers worries that the North Atlantic economy is at risk of secular stagnation; meanwhile, the IMF frets that Europe is flirting with deflation, China is slowing, and the emerging markets are fearful of more “taper tantrums” as the Fed begins to slow the pace of quantitative easing.

CIGI report assesses the viability of the IMF’s creditor status, in light of lessons from the Euro crisis

Wednesday, 26 March 2014
article
A credible framework for maintaining discipline over International Monetary Fund (IMF) lending is required to ensure the viability of the organization’s preferred creditor status, according to a new CIGI report.