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China: The Big Spenders
Thanks to rapid urbanization and rising disposable incomes in their country, Chinese tourists spent $102 billion during their travels in 2012, more than any other nationality, making the Asian nation the world’s number one tourism source market, the United Nations
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IMF Statement on Cyprus
Statement on Cyprus by Olli Rehn, European Commission Vice-President and Christine Lagarde, Managing Director of the International Monetary Fund. The Cypriot authorities have put forward a multi-annual reform programme to address the economic challenges facing the country. Its goals are
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WTO: China’s Role in Global Economic Governance
By WTO Director-General Pascal Lamy Extracts from his Speech delivered at the China Development Forum in Beijing, 24 March 2013 Few could possibly disagree that China’s economic performance since 1979 has been miraculous. A poor and inward-looking economy with a
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UNCTAD on Emerging Markets FDI Trends
Foreign direct investment (FDI) going into and out of the emerging economies of Brazil, Russia, India, China and South Africa – collectively known as BRICS – is mounting in global influence, according to a United Nations report released on March
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Arab Countries In Transition: Where are they Heading?
By Masood Ahmed Director of the IMF’s Middle East and Central Asia Department “You can tell whether a man is clever by his answers. You can tell whether a man is wise by his questions.” — Egyptian Nobel Prize–winning author
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Pinpointing the Value in CSR
By Thomas Lys, James Naughton and Clare Wang The Unexpected Link between CSR Spending and Financial Performance Proponents of corporate social responsibility (CSR) initiatives tend to justify their position by arguing that these expenditures improve a company’s economic performance―allowing it
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Financial Stability in the European Union: IMF Assessment
In its first ever European Union-wide assessment of the soundness and stability of the financial sector, the International Monetary Fund this month pointed to the need to step up regional efforts to manage financial crises and risks to keep the
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The International Financial Institutions: Collaboration for Development and Growth
Leaders of the African Development Bank, European Bank for Reconstruction and Development, Inter-American Development Bank, International Monetary Fund, and the World Bank Group pledged on February 26, 2013 close collaboration to support development and growth. The leaders emphasized the need
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WTO Reaches Out to the Business Community
At an event held for the business community at the WTO headquarters on 21 February 2013, the organisation announced the results of a recent survey of businesses and launched a dedicated web area for business on the WTO website. It
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IMF Support for Sri Lanka’s Economic Reform Programme
An IMF staff mission visited Colombo January 30 – February 13 to discuss possible financial support for Sri Lanka’s economic reform agenda under an Extended Fund Facility. The mission met with government and Central Bank officials, as well as representatives
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