The Middle East and North Africa have seen more change in the last three months than in the previous fifty years and the current turmoil will have far-reaching and, in the short-run, adverse economic implications both within the region and beyond. […]
The international community must provide support to countries across the Middle East in order to contain the numerous financial and economic risks created by the current unrest. […]
While markets seem calm for now, the failure of the EU’s recent summit, combined with Portugal’s recent request for aid and other political setbacks, leaves the euro area vulnerable to a relapse of crisis. […]
After a relatively short-lived decline during the Great Recession, international food prices have soared again and reached a record-high in recent months. This price surge, coupled with a dramatic spike in the price of oil, is causing great hardship for the world’s poor households. […]
A series of crises in advanced countries—from the financial collapse two years ago to the devastating earthquake in Japan to a surge in oil prices—has greatly diminished their ability to deal with the next economic shock. […]
Turmoil in the Middle East has injected huge uncertainty into oil markets. Could unrest spread to Saudi Arabia, Iran, or others in the region and disrupt oil supplies? What will be the consequences for the global recovery? What can policy makers do? […]
For primarily political reasons, the fiscal policies of the United States and the United Kingdom diverged dramatically in 2010, as British leaders introduced a harsh austerity program while U.S. policy makers agreed to extend tax cuts. […]
The economic costs of the Japanese earthquake will be major, but are unlikely to derail the Japanese or global recovery. However, a number of risks—beginning with unresolved nuclear crisis—could worsen the outcome considerably. […]
In order to prevent another boom-bust episode—this time in developing countries—policy makers must act soon to cool the rising temperatures in several rapidly growing emerging markets. […]
Economic growth in Africa has accelerated remarkably since the turn of the century, reflecting a rise in commodity prices as well as better macroeconomic policies, increased openness, and fewer conflicts. […]
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