Economic Prospects Good; Globalization Offers Opportunities, Poses Challenges
IMF Survey › Nbr. 26-9, May 1997 › Summary
Linked as:
Summary
Structural Reform Is Vital for Advanced Economies. Developing Countries Show Divergent Growth Patterns. Contrasts in Performance of Transition Economies. Globalization a Source of Growth.
See the full content of this document
Extract
Economic Prospects Good; Globalization Offers Opportunities, Poses Challenges
Worldwide economic growth took off in 1996, according to the May 1997 World Economic Outlook-the IMF's biannual survey of economic developments, policies, and prospects among its member countries. Moreover, economic and financial conditions favor a continuation of the global expansion in 1997 and into the medium term. Few signs of the tensions and imbalances that fore-shadow downturns in business cycles are evident; global inflation remains subdued, with commitments to price stability stronger than at any time in the past 30 years; fiscal balances are being decisively reduced in many countries; and exchange rates among major currencies are consistent with broader policy objectives. World output growth is expected to rise to about 4 1/2 percent, in 1997, from 4 percent in 1996, and to remain at this rate in 1998, reflecting expansion in advanced, developing, and transition economies. Inflation remained subdued during 1996 in the a...
See the full content of this document
Sponsored links
