International Monetary Fund

The International Monetary Fund (IMF) is an international organization that was initiated in 1944 at the Bretton Woods Conference and formally created in 1945 by 29 member countries. The IMF's stated goal was to assist in the reconstruction of the world's international payment system post–World War II. The IMF currently has a near-global membership of 188 countries. To become a member, a country must apply and then be accepted by a majority of the existing members. Upon joining, each member country of the IMF is assigned a quota, based broadly on its relative size in the world economy. The IMF provides policy advice and financing to members in economic difficulties and also works with developing nations to help them achieve macroeconomic stability and reduce poverty.

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    • Output Growth in the Aftermath of the Commodity Boom, 1960-2015 WEO October 2015 Chapter 2 (One Time Publication)
      Октябрь 2015
      Источник: International Monetary Fund
      Загружен: Knoema
      Дата обращения к источнику: 27 октября, 2015
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      Commodity prices have declined sharply over the past three years, and output growth has slowed considerably among those emerging market and developing economies that are net exporters of commodities. A critical question for policymakers in these countries is whether commodity windfall gains and losses influence potential output or merely trigger transient fluctuations of actual output around an unchanged trend for potential output. The analysis in this chapter suggests that both actual and potential output move together with the commodity terms of trade but that actual output commoves twice as strongly as potential output. The weak commodity price outlook is estimated to subtract almost 1 percentage point annually from the average rate of economic growth in commodity exporters over 2015–17 as compared with 2012–14. In exporters of energy commodities, the drag is estimated to be larger: about 2¼ percentage points on average over the same period. The projected drag on the growth of potential output is about one-third of that for actual output.