In Lima, the IMF should warn against currency risks


Photo: IMF
Photo: IMF

Emerging market currencies are in disarray. Since the last spring meeting of the International Monetary Fund and the World Bank, Brazil’s bonds have been downgraded to ‘junk’ status, China’s stock market has faltered, and the Russian rouble has lost over half of its value against the US dollar.

Ahead of this week’s IMF and World Bank meetings in Lima, Peru, two issues will take centre stage: tighter US monetary policy and China’s slowdown. On both counts, this is an opportunity for the IMF to call for better coordination of exchange rate policy amongst the world’s major economic powers.

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Greece could boost its economy if it pursues these two reforms

Greece Flag .2As the dust settles on yet another Greek election, calls for economic reform from Brussels are getting ever louder. While improving tax collection is well known to be top of the government’s to-do list, there are other urgent priorities for the administration to pursue: cutting red tape, and leading a serious inquest into the domestic factors that led to the crisis.

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