The World Bank and International Monetary Fund hold their annual meetings this weekend in Washington, D.C. According to the IMF’s World Economic Outlook, “Global growth is now projected to be slightly higher in 2014” yet “downward revisions to growth forecasts in some economies highlight continued fragilities, and downside risks remain.” Here is some of what Brookings experts are saying about the agenda:
Liesbet Steer says policymakers should focus on adequate financing for quality education. “The arguments for investing in education seem overwhelmingly clear,” she writes, “but spending has fallen far short of what is needed and is even declining in the case of foreign aid.”
- Ukraine: a $14 billion to $18 billion IMF loan;
- U.S. Congress: voting to change IMF voting power “to reflect the rise of Asian emerging markets.”
- China: the yuan, China’s currency, has been falling’
- Fed taper exit: “Officials from India and elsewhere are likely to use the spotlight of the spring meetings to renew their calls on advanced-economy.”
Eswar Prasad ( @EswarSPrasad) wrote of the “Coming Currency Clash in Asia,” with attention to the effects of the Fed taper noted as something IMF and World Bank meeting participants should be aware of.
At Brookings on Thursday, Reserve Bank of India Governor Raghuram Rajan participates in an event hosted by the Hutchins Center on Fiscal and Monetary Policy at Brookings. The event will be webcast live starting at 11:30 a.m. (EDT).