The world economy has faced unprecedented challenges in the wake of the U.S. sub-prime mortgage market collapse and the sudden rise of fuel and food prices. Policymakers worldwide have been forced to address both slowing growth and rising inflation against the backdrop of crisis in the financial markets. In the face of these challenges, developed and developing country governments alike are working to formulate policies aimed at restoring confidence to markets and ensure that the economic slowdown is short-lived.
The IMF has played a key role in helping countries devise policies to weather the storm. IMF First Deputy Managing Director John Lipsky offered the Fund’s outlook for the world economy, analyze the steps taken so far, and offer some perspectives on what policymakers can do over the coming months.
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