Crystal Ball

With the global financial crisis in the rearview mirror, an effort was initiated at the IMF last year to better tailor the Fund's near-term focus on managing transition from the crisis to long-term perspectives. The work focused on identifying underlying currents and associated uncertainties th...

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Bibliographic Details
Published in:Finance & Development 2014-09, Vol.51 (3), p.12ff-12ff
Main Authors: Kochhar, Kalpana, Sun, Yan, Tsounta, Evridiki, Westelius, Niklas
Format: Magazinearticle
Language:English
Subjects:
Climate change
Cooperation
Demographics
Economic conditions
Economic crisis
Economic development
Economic growth
Economic recovery
Emerging markets
Environment
Equality
Finance
GDP
Global economy
Gross Domestic Product
Income distribution
Income inequality
Initiatives
International finance
International organizations
Membership
Multinational corporations
Older people
Population
Power resources
Prosperity
Risk
Sustainable development
Trends
Uncertainty
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Summary:With the global financial crisis in the rearview mirror, an effort was initiated at the IMF last year to better tailor the Fund's near-term focus on managing transition from the crisis to long-term perspectives. The work focused on identifying underlying currents and associated uncertainties that will mold the world people live in over the coming decades. Understanding their nature, speed, and -- importantly -- how they interact is crucial to preparing for future challenges and being alert to risks that could lead to new crises. Aided by extensive internal and external consultations, the IMF staff team narrowed its focus to a critical few: demographics, diffusion of power, resource and environmental sustainability, interconnectedness, and income inequality. The complexity and uncertainty of the future present opportunities and challenges to the IMF and its membership. The IMF must continue applying its unchanging mandate -- safeguarding global economic and financial stability -- to these changing circumstances and demands. Adapted from the source document.
ISSN:0015-1947
1564-5142