Recovery from the deepest recession in 60 years has started. But sustaining it will require delicate rebalancing acts, both within and across countries. IMF chief economist Olivier Blanchard writes in our lead article that the turnaround will not be simple. The crisis has left deep scars that will affect both supply and demand for many years to come. This issue of F&D also looks at what's next in the global crisis and beyond. We look at ways of unwinding crisis support, the shape of growth worldwide after the crisis, ways of rebuilding the financial architecture, and the future of reserve curr
Table of contents
Cover; Contents; DEPARTMENTS; In Brief; Increasing global liquidity; Hunger at historic high; Gadgets and gigawatts; IMF blog; People in Economics; Questioning a Chastened Priesthood; WHERE DO WE GO FROM HERE?; Sustaining a Global Recovery: The recovery has started. Sustaining it will require delicate rebalancing acts, both within and across countries; What's In and Out in Global Money: Things are hot, then they are not, in the world of international money; Rebuilding the Financial Architecture: What needs to be done to strengthen financial regulation and supervision?
Looking Ahead: Countries must begin now to devise economic strategies to accompany recoveryGrowth after the Crisis: If the world economy is to recover, a replacement must be found for the newly frugal U.S. consumer; The Future of Reserve Currencies: For nearly a century, the U.S. dollar has reigned supreme, but are those days over?; Picture This; The Three-Hundred- Year Low; The Bank of England's policy rate is the lowest ever; Overhauling the System: United States proposes most radical reform of financial regulation since the New Deal
Anticipating the Next Crisis: What can early warning systems be expected to deliver?Faces of the Crisis: How the crisis has affected six people in different circumstances around the world; Back to Basics; What Is Monetary Policy?; ALSO IN THIS ISSUE; Dial Growth: Handheld devices are enabling nascent economies to skip a generation of development; Delivering on Change; The IMF has created a new support framework for the world's low-income countries; Edward Gemayel and Samar Maziad; Book reviews; Dead Aid Why Aid Is Not Working and How There Is a Better Way for Africa
Dambisa Moyo Successes of the International Monetary FundUntold Stories of Cooperation at Work; Eduard Brau and Ian McDonald, editors; Money, Finance and Political Economy; Getting It Right; Data spotlight; Flows to Eastern Europe; Foreign banks have supported eastern European banks, but the financial crisis has reversed this trend