• We reaffirm our commitment to implement our framework for engagement on governance and corruption and support sustainable, strong, and inclusive growth for IMF member countries. Join our #AntiCorruption Challenge by submitting your ideas. Link https://t.co/DZtwLKw1iC
    IMF Tue 10 Dec 2019 00:25
    Bootcamp training for finalists, where ideas are refined, stakeholders mapped out, and project plan designed. Travel and accommodation to Washington D.C. will be paid for at least 2 representatives from each team.
  • RT @WBG_Climate: NEWS: Coalition of finance ministers co-led by #Finland & #Chile, comprising over 50 countries & covering 30% of global GD…
    IMF Mon 09 Dec 2019 22:40
  • We asked citizens from around the world how #corruption affects them. What did they say? Check out the video below and our issue of F&D magazine on the hidden corners of the global economy: Link #UnitedAgainstCorruption #AntiCorruption https://t.co/0YDgM2qX9j
    IMF Mon 09 Dec 2019 19:09
  • RT @wbg_gov: Rhoda Weeks-Brown of @IMFNews: We’ve been studying the many channels and costs of corruption. One of the biggest impacts of co…
    IMF Mon 09 Dec 2019 18:09
  • DMD Zhang: #ClimateChange is an existential challenge. The IMF looks forward to working with the Coalition of Finance Ministers for Climate Action to galvanize climate efforts at this pivotal moment. Link #COP25 #TimeForAction https://t.co/kSdplpJNZV
    IMF Mon 09 Dec 2019 18:04
  • We encourage country officials, representatives of civil society and international organizations: take our #anticorruption #IMFchallenge as we search for the brightest ideas to promote good governance and fight corruption. Link #UnitedAgainstCorruption https://t.co/qpv0huhjDe
    IMF Mon 09 Dec 2019 16:14
    Bootcamp training for finalists, where ideas are refined, stakeholders mapped out, and project plan designed. Travel and accommodation to Washington D.C. will be paid for at least 2 representatives from each team.
  • IMF Deputy Managing Director Tao Zhang: Our thanks to #Germany for the financial support to IMF capacity development activities for #climatechange mitigation and adaptation measures in member countries. Link #IMFcapdev #COP25 #TimeForAction https://t.co/s7t9X3Y2uM
    IMF Mon 09 Dec 2019 15:19

    IMF work shows the key role of policies that respond to global climate change and other environmental challenges. We provide practical guidance for policymakers, globally and nationally.

    Fiscal, financial and monetary, and sustainable development policies help countries build resilience to climate and natural disaster risks.

  • Curbing corruption could generate tax revenue of about $1 trillion annually across the world. This is revenue that can support economic growth and the #SDGs. Link #UnitedAgainstCorruption #AntiCorruption https://t.co/UW7wVLOPUy
    IMF Mon 09 Dec 2019 14:39

    Good governance is key to economic success

    Governance is a broad concept covering all aspects of how a country is governed, including its economic policies, regulatory framework, and adherence to rule of law. Poor governance offers greater incentives and more opportunities for corruption—the abuse of public office for private gain. Corruption undermines the public’s trust in its government. It also threatens market integrity, distorts competition, and endangers economic development. Because poor governance is clearly detrimental to economic activity and welfare, the IMF adopted in 1997 a policy on how to address economic governance, embodied in the Guidance Note “ The Role of the IMF in Governance Issues." To further strengthen the implementation of this policy, the IMF adopted in 2018 a new Framework for Enhanced Engagement on Governance. The framework aims to promote more systematic, effective, candid, and evenhanded engagement with member countries...

  • RT @KGeorgieva: Fighting corruption is key to economic growth and to achieving the Sustainable Development Goals. On this #AntiCorruption D…
    IMF Mon 09 Dec 2019 13:39
  • #Infographic: Corruption causes leakages at multiple points as funds flow into, through, and out of the public sector. Link #UnitedAgainstCorruption https://t.co/DjVvqeCW6q
    IMF Mon 09 Dec 2019 04:34

    Graft results in lost tax revenue, but it also takes a social toll

    Paolo Mauro, Paulo Medas, and Jean-Marc Fournier

    In 2013, Brazilian investigators working on a routine money-laundering case stumbled onto something far bigger: a bribery and bid-rigging scheme involving state-controlled oil giant Petrobras. Operation Car Wash, as the probe came to be known, discovered that some of Brazil’s largest construction and engineering firms had paid billions of dollars in bribes over a period of years to secure lucrative contracts from Petrobras. The scandal implicated dozens of government officials and politicians.

    Such shady dealings aren’t limited to emerging market economies like Brazil, of course. In one spectacular case in the 1970s, politicians in Japan accepted bribes to approve contracts to buy US military aircraft. This scandal was one of the motivations for the passage of a law forbidding US companies to pay bribes abroad. But wherever it appears,...

  • On #IMFBlog, @KGeorgieva writes that no institution or individual can stand on the sidelines in the fight against climate change. The IMF is stepping up its efforts to deal with climate risk. Read more here: Link #COP25 #SundayReads https://t.co/kU2HVMrit4
    IMF Sun 08 Dec 2019 18:08

    By Kristalina Georgieva

    ????, Español, Français, ???, Português, ???????

    No institution or individual can stand on the sidelines in the fight against climate change

    When I think of the incredible challenges we must confront in the face of a changing climate, my mind focuses on young people. Eventually, they will be the ones either to enjoy the fruits or bear the burdens resulting from actions taken today.

    I think of my 9-year-old granddaughter. By the time she turns 20, she may be witness to climate change so profound that it pushes an additional 100 million people into poverty. By the time she turns 40, 140 million may become climate migrants—people forced to flee homes that are no longer safe or able to provide them with livelihoods. And if she lives to be 90, the planet may be 3–4° hotter and barely livable.

    Unless we act. We can avoid this bleak future, and we know what we have to do—reduce emissions, offset what cannot be reduced, and...

  • As the frequency and intensity of natural disasters is projected to increase over time with #climatechange, we can expect the social & economic impact of disasters to increase. The IMF is committed to helping small island states strengthen their resilience to #climatechange. https://t.co/8oI7oAWzFo
    IMF Fri 06 Dec 2019 23:16
  • DMD Zhang: #ClimateChange is a global problem, but it is one that affects small island states disproportionately. Improvements to physical infrastructure, strong fiscal policies, and effective fiscal institutions are the foundation for resilience-building. Link https://t.co/kEGqDUfNiX
    IMF Fri 06 Dec 2019 11:46
    Climate change is a global problem, but it is one that affects you—the small island states—disproportionately in potentially severe ways. The international community needs to play a strong role in helping your countries.
  • IMF Executive Board completed the 2nd review of #Angola’s economic program & unlocked USD 247 million support. The program, underpinned by Angola’s strong ownership and determination to restore macroeconomic stability, remains on track, despite challenges Link https://t.co/P4xYnxAL8e
    IMF Thu 05 Dec 2019 23:50
    Angola’s economic program remains on track, despite challenges. The Executive Board decision brings total IMF disbursements to Angola to about US$1.48 billion. Angola continues to face a deteriorated external environment, which is weighing on the economic outlook.
  • Global #carbonemissions are on the rise again—they have increased by 1% in 2017 and another 2% in 2018. Read #IMFBlog to find out why. #COP25 Link https://t.co/ElrySPoqFh
    IMF Thu 05 Dec 2019 21:30

    By Christian Bogmans, Akito Matsumoto, and Andrea Pescatori

    After good progress in the beginning of the decade, global carbon emissions have started to pick up again. This recent trend sets the world on a dangerous path: to slow the pace of climate change, carbon emissions need to be reduced.

    Our chart of the week from the IMF’s latest World Economic Outlook shows that emissions have increased by 1 percent in 2017 and another 2 percent in 2018. China has been a key driver of emission growth since the turn of the century, but its impact has diminished in recent years as investments in renewable energy have increased and economic growth has become more rooted in the service sector rather than manufacturing. India and other emerging markets, instead, are partially filling the gap. In 2018, emissions decreased in all Group of Seven economies besides the United States, whose emissions increased because of a resurgence of industrial production and, possibly, bad...

  • Did you know that the IMF conducted 119 country health checks in FY2019? Learn more in the 2019 Annual Report. Link https://t.co/sGc5HPhK0L
    IMF Thu 05 Dec 2019 21:05

    The IMF focuses on three main roles:

    Provide member countries advice on adopting policies to achieve macroeconomic stability, accelerate economic growth, and alleviate poverty.

    Make financing available to member countries to help address balance of payments problems, including foreign exchange shortages that occur when external payments exceed foreign exchange earnings.

    Offer technical assistance and training, when requested, to help member countries build and strengthen their expertise and institutions to implement sound economic policies.

    IMF headquarters is in Washington, DC, and its offices around the world aim to promote the IMF’s global reach and maintain close ties with its members. For more information on the IMF and its member countries, visit www.imf.org.

  • The IMF helps small island states prepare for natural disasters through policy advice, #capacitydevelopment & financial support. Learn more, read our #IMFblog Link #ClimateChange #COP25 https://t.co/o83JnSeUk7
    IMF Thu 05 Dec 2019 17:35

    By Seán Nolan and Krishna Srinivasan

    Español, Português

    Earlier this year, Cyclone Idai devastated Mozambique, Malawi, and Zimbabwe by leaving more than 1,000 people dead, thousands more missing, and damages in the billions. These storms were among the recent reminders of how natural disasters can cause severe and catastrophic damage. Natural disasters destroy lives and property and have large and lasting effects on economies by reducing production and increasing debt burdens. They also tend to disproportionately affect the poor, who have a limited ability to cope with the impact.

    Although not alone, the small island countries in the Caribbean and Pacific are particularly vulnerable to natural disasters. They have suffered, on average, disaster-related losses of 2 to 3 percent of GDP per year over the past 30 years. Some countries have been hit far harder: when Hurricane Maria ravaged Dominica in 2017, it caused damages estimated at some 220 percent of...

  • After good progress in the beginning of the decade, global #carbonemissions have started to pick up again. This recent trend sets the world on a dangerous path. #IMFBlog #COP25 Link https://t.co/6eXMfZHCgu
    IMF Thu 05 Dec 2019 17:05

    By Christian Bogmans, Akito Matsumoto, and Andrea Pescatori

    After good progress in the beginning of the decade, global carbon emissions have started to pick up again. This recent trend sets the world on a dangerous path: to slow the pace of climate change, carbon emissions need to be reduced.

    Our chart of the week from the IMF’s latest World Economic Outlook shows that emissions have increased by 1 percent in 2017 and another 2 percent in 2018. China has been a key driver of emission growth since the turn of the century, but its impact has diminished in recent years as investments in renewable energy have increased and economic growth has become more rooted in the service sector rather than manufacturing. India and other emerging markets, instead, are partially filling the gap. In 2018, emissions decreased in all Group of Seven economies besides the United States, whose emissions increased because of a resurgence of industrial production and, possibly, bad...

  • To fight #climatechange, we need a "massive reallocation of capital" says Bank of England Governor Mark Carney (@bankofengland) in our latest issue of F&D launched alongside #COP25. Learn more at Link https://t.co/gyWqZAlPoU
    IMF Thu 05 Dec 2019 16:05

    The world needs a new, sustainable financial system to stop runaway climate change

    Mark Carney

    This year the threats from climate change spurred demonstrations across the world and prompted the parliaments in the United Kingdom and many other countries to declare a “climate emergency.” These actions occurred against a backdrop of record temperatures across Europe and North America, the worst wildfires ever in the Amazon basin, severe tropical storms in Asia, and sea levels that are rising faster than previously thought.

    The human costs are immeasurable.

    The financial losses, however, can be measured, and they are significant. Insured losses in 2018 were $80 billion, double the inflation-adjusted average for the past 30 years.

    But protection gaps in low- and middle-income countries mean that even greater costs are being borne by the uninsured. In 2017, a record $140 billion in insured losses was eclipsed by an additional uninsured...

  • IMF Managing Director @KGeorgieva met this week in #Senegal with the Association of Senegalese Women Lawyers. She expressed how impressed she was by the work of @AJS_Senegal to improve the legal rights of underprivileged women and promote gender equality. #IMFgender https://t.co/J2WxO44l8i
    IMF Thu 05 Dec 2019 14:55
  • When it comes to saving the planet, one whale is worth thousands of trees. The carbon capture potential of whales is truly startling. Read more in the latest issue of F&D: Link #ClimateAction #ClimateChange #COP25 https://t.co/i63wjXPAQe
    IMF Thu 05 Dec 2019 14:30

    A strategy to protect whales can limit greenhouse gases and global warming

    Ralph Chami, Thomas Cosimano, Connel Fullenkamp, and Sena Oztosun

    When it comes to saving the planet, one whale is worth thousands of trees.

    Scientific research now indicates more clearly than ever that our carbon footprint—the release of carbon dioxide (CO2) into the atmosphere where it contributes to global warming through the so-called greenhouse effect—now   threatens our ecosystems and our way of life.  But efforts to mitigate climate change face two significant challenges.  The first is to find effective ways to reduce the amount of CO2 in the atmosphere or its impact on average global temperature.  The second is to raise sufficient funds to put these technologies into practice.

    Many proposed solutions to global warming, such as capturing carbon directly from the air and burying it deep in the earth, are complex, untested, and expensive. What...

  • When it comes to saving the planet, one whale is worth thousands of trees. The carbon capture potential of whales is truly startling. Read more in the latest issue of F&D: Link #ClimateAction #CkimateChange #COP25 https://t.co/2YAPjRtSRM
    IMF Thu 05 Dec 2019 12:19

    A strategy to protect whales can limit greenhouse gases and global warming

    Ralph Chami, Thomas Cosimano, Connel Fullenkamp, and Sena Oztosun

    When it comes to saving the planet, one whale is worth thousands of trees.

    Scientific research now indicates more clearly than ever that our carbon footprint—the release of carbon dioxide (CO2) into the atmosphere where it contributes to global warming through the so-called greenhouse effect—now   threatens our ecosystems and our way of life.  But efforts to mitigate climate change face two significant challenges.  The first is to find effective ways to reduce the amount of CO2 in the atmosphere or its impact on average global temperature.  The second is to raise sufficient funds to put these technologies into practice.

    Many proposed solutions to global warming, such as capturing carbon directly from the air and burying it deep in the earth, are complex, untested, and expensive. What...

  • The world’s fortunes depend on the ambition and urgency with which leaders collaborate to address the global climate emergency today. Our latest issue of Finance & Development magazine looks at the economic and financial impact of climate policy choices: Link https://t.co/8SrHcUaw4C
    IMF Wed 04 Dec 2019 16:04

    By Gita Bhatt

    “Everybody talks about the weather, but nobody does anything about it.” The quip, attributed to 19th-century American humorist Mark Twain, might describe the current state of play on climate change. In Twain’s day, it was absurd to suppose humans could do anything about the weather.

    Today, we understand that we can and we must.

    The changing climate, largely wrought by humans, is bringing rising sea levels, temperature extremes, and more frequent and harsher storms. These threaten to displace lives, livelihoods, and communities, with clear economic consequences, often at a high price tag, around the world.

    Simply put, climate is the biggest risk the world faces. What can we do to move from talk to action?

    This issue of Finance & Development looks at the economic and financial impact of climate policy choices. It points to concrete solutions that offer growth opportunities, driven by technological innovation, sustainable...

  • Many developing countries, particularly small island states, are vulnerable to natural disasters that can have large economic & social costs. Today we kick off a 3-day seminar with small island states to discuss how governments can mitigate the effects of natural disasters. https://t.co/bY0yy9al8B
    IMF Wed 04 Dec 2019 14:04
  • Giving back is a year-round commitment for the IMF & we’re happy to support #GivingTuesday. Today, in partnership with @BreadfortheCity @CharliesPlaceDC and @miriamskitchen our staff assembled 1,200 boxes of winter essentials for people experiencing homelessness in DC. #IMFGiving https://t.co/IxUfkQUMfJ
    IMF Tue 03 Dec 2019 22:28
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