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Showing posts with the label World Bank/IMF Spring Meetings

IMF 2017 Spring Meetings: where we are now

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We attended the IMF/World Bank Spring Meetings and heard nothing that would make us revise our 2017 Economic Forecast for Businesses under Trump as noted in my talk to the Greater Houston Black Chamber of Commerce on February 14, 2017. As I noted then, we expect economic growth to continue for most of 2017. The IMF confirmed our forecast: global economic growth is projected to rise from 3.1% in 2016 to 3.5% by the end of 2017. The IMF expects global economic growth to reach 3.6% by 2018. Total global investments are expected to continue to grow from today's $212 trillion. These are stunningly good figures, and mark a complete reversal from the Fund's earlier, pre-Brexit 2016 economic forecast. Recall that the IMF predicted economic doom and gloom were Britain to exit the EU. They have softened their view, to say the least. This is not to suggest that the Fund has suddenly become a champion of the rosy scenario. (We think their growth forecast is too optimistic, by the way.) T…

World Bank/IMF Spring Meetings, 2017, Brendan Cody, GWU student and Impact Investing Intern

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In April, 2000, 10,000 protesters gathered outside the World Bank/IMF Spring Meetings to express passionate disapproval of globalization and to express concern about growing income inequality.

Chaos erupted and upwards of 1,000 people were arrested. Seventeen years later, at this year’s World Bank meetings, there are no protesters to be found in Foggy Bottom. The World Bank has attempted to incorporate some of the protesters’ concerns into their Spring Meeting event schedule: they have increasingly emphasized income inequality and other issues. This progress was displayed at the Civil Society Organization (CSO) Roundtable on April 18: CSOs posed their questions directly to World Bank executive directors.

The questions were direct, opening with “How can the bank do more to provide relief in wars and other crises?” Executive director Merza Hasan brought attention to the relief efforts of the past, but suggested there was room for improvement. The comments were in line with World Bank P…