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March 2013 Global Economic Monitor

We have become more optimistic about the global growth recovery this month. First, the data flow in Q1 provided more evidence of strength, particularl

Poland: In Search of the Floor

Even as headline inflation slowed and real GDP growth softened, the central bank was reluctant to cut interest rates until late 2012, emphasizing its

Ireland and Greece: A Tale of Two Fiscal Adjustments

Three years into Europe's crisis, and with output falling in Italy, Spain and Portugal, the different experiences of Ireland and Greece are instructiv

Indonesia: Energy Subsidies Raise Concerns

Subsidies have become a pressing problem in the current context of the emergence of an external constraint for the first time in more than a decade. I

Korea: Difficult Start for the New President

The honeymoon most newly-elected candidates enjoy on first taking office has eluded President Park Geun-hye. Financial markets are taking the latest d

Lebanon: Short-term Challenges, Long-term Opportunities

Political uncertainty in Syria continues to pose a major threat to Lebanon's political order and economic stability. Growth decelerated to 0.6% and th

Turkey: Current Account Deficit Narrows, Risks Remain

External financing needs look set to increase with the current account shortfall likely to widen through 2014. Heavy reliance on short-term capital in

Argentina: The Ball is in Argentina's Court

Market sentiment remains volatile in light of the uncertainty surrounding the final verdict on litigation with holdout creditors. While the appeals co

Asia: Update on Chips and Cars

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Ukraine: New Government, Same Challenges

The Ukrainian economy is on a very volatile path. Real GDP growth slumped in 2012 but the aggressively expansionary fiscal policy fueled a consumption

 

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