Search Results for "Otaviano Canuto"
Back to homepage
Permanent Output Losses from the Pandemic
In the World Economic Outlook, published October 12, the International Monetary Fund (IMF) slightly lowered its forecast for global economic growth this year to 5.9%, while maintaining a forecast of 4.9% for 2022. It also emphasized the “divergence” in the
Read More
The Road to Decarbonisation
The transition to zero emissions will involve three simultaneous economic processes: change in the relative prices of goods and services, with prices starting to reflect the intensity of emissions of carbon; labour relocation; and asset value scrapping. The socioeconomic return
Read More
Global Imbalances and the Pandemic
The International Monetary Fund’s tenth annual External Sector Report (ESR, August 2021) shows how current account deficits in the global economy widened in 2020 during the pandemic. On the other hand, the ESR also argues that overall, the misalignment between
Read More
Matchmaking Private Finance and Green Infrastructure
The contrast between the scarcity of investments in infrastructure and the excess of savings invested in liquid and low-return assets in the global economy must be dealt with. Greening infrastructure in emerging and developing economies would benefit from being able
Read More
Rescue by Helicopter Reserves
The world woke up on Monday 23 with higher international reserves for all countries. A new allocation of US$650 billion (SDR450 billion) in Special Drawing Rights (SDRs) by the International Monetary Fund (IMF) to its member countries has entered into
Read More
China’s Renminbi Needs Convertibility to Internationalise
On July 21, the Official Monetary and Financial Institutions Forum (OMFIF) published its eighth annual report on Global Public Investors (GPI). It included a survey the asset allocation plans of reserve managers of central banks, sovereign wealth funds, and public
Read More
A Possible Tug-of-war Between the Fed and the Markets
The projections for United States GDP released by the Federal Reserve on March 17, pointed to a growth rate of 6.5% in 2021, well above December’s 4.2% forecast. Congressional approval of the Biden administration’s $1.9 trillion fiscal package and the
Read More
The Size of Biden’s Fiscal Package
The monetary policy report submitted by the Board of Governors of the Federal Reserve System to the U.S. Congress on Friday Feb. 19 showed that the Fed’s members have improved economic growth expectations for 2021 and 2022, expect lower unemployment
Read More
Don’t Expect Miracles from the Multilaterals
by Otaviano Canuto Latin American and Caribbean economies need help, but organisations such as the IDB are also stretched thin. With Latin America and the Caribbean potentially facing years of difficulties due to the pandemic and related economic crises, attention
Read More
Whither Interest Rates in Advanced Economies: Low for Long?
by Otaviano Canuto We have previously discussed how, between March 2020, when the financial shock caused by COVID-19 occurred, and the end of August, the stock and corporate debt markets in the United States performed extraordinarily, despite gloomy prospects on
Read More