Publications

2013 June Capital Flows to Emerging Market Economies

The environment for capital flows to emerging economies has worsened recently. Global risk aversion has surged amid concerns about the duration of ult

Ukraine: Adjustment Postponed, Risks Rise

Improved financing conditions have led the government to leave its macroeconomic policies unchanged, despite the deepening recession and excessively h

Thailand: Breather for the Baht

The sharp global market reversal over the past month is positive for the economy by taking the froth out of the financial markets. While pressure is o

June 2013 Global Economic Monitor

We have warned for a while about the global risks stemming from volatile market conditions in anticipation of an exit from easy U.S. monetary policy.

Turkey: Turmoil Sharpens Market Vulnerabilities

Concerns about the possible winding down of monetary accommodation in the U.S. had already brought the lira and Turkish asset prices under downward pr

Saudi Arabia: Robust Performance, Strong Outlook

Nonhydrocarbon growth is expected to remain robust. The increased total factor productivity in recent years reflected the efficiency gains from the im

Euro Briefing: Looking for Traction

Prior to the recent shift in market sentiment, abundant liquidity and renewed efforts by the ECB to support growth (including a rate cut on May 2) had

Euro Area Periphery: Risks Still Skewed to the Downside

Downside risks predominate in the Euro Area periphery. Slack order books, substantial unused capacity and rising unemployment continue to dampen senti

Colombia: A Soft Patch, Gradual Recovery

After going through a soft patch, the economy appears to be gradually gaining momentum driven by monetary easing, fiscal stimulus and a depreciation o

Côte d'Ivoire: The Challenge of Sustaining High Growth

Growth rebounded last year and will remain strong in 2013 and 2014, close to 8%. Increasing the investment rate will be essential to make high growth

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