This paper presents four commentaries by an IMF Deputy Managing Director on integration and growth in a globalized world economy. Globalized and integrated financial markets are the norm, complete with their tremendous opportunities—the chance to quicken the pace of investment, job creation, and growth—and, some inevitable risks. The paper also highlights that sound macroeconomic policies must be a top priority, and that these policies must be supported by transparency and accountability. Policies at the country and global level must be mutually reinforcing; industrial countries meeting the more outward-oriented policies of developing countries with greater openness around the world. It is recommended that the IMF agenda must include adopting bold structural reforms and building a social consensus for reform through economic security, good governance, and a better dialogue with civil society in Africa. In the Berlin address, it is suggested that development rests on three pillars: good economic policy, a favorable legal and political environment, and attention to equitable social development.

Alassane D. Ouattara

Alassane D. Ouattara served as Deputy Managing Director of the International Monetary Fund from July 1, 1994. to July 31, 1999.

Mr. Ouattara obtained his B.Sc. (business administration) at Drexel Institute of Technology, Philadelphia (1965), and his M.A. (economics) (1967) as well as his Ph.D. in economics (1972) at the University of Pennsylvania.

Following his appointment as an Economist in the International Monetary Fund from 1968 to late 1973, he served as “Chargé de Mission” at the Central Bank of West African States (BCEAO) in Paris from late 1973 to early 1975, when he became Special Advisor to the Governor and Director of Research. He held this post until his appointment as Vice Governor of the BCEAO in 1983. In late 1984, he returned to the IMF as Director of the African Department, and simultaneously from 1987, as Counsellor to the Managing Director. In October 1988, Mr. Ouattara was named Governor of the BCEAO. While retaining the function of Central Bank Governor, he served in 1990 as Chairman of the Interministerial Committee for Coordination of the Stabilization and Economic Recovery Programme of Côte d’Ivoire, in Abidjan.

He was Prime Minister of the Republic of Côte d’Ivoire from November 1990 until December 1993.

Mr. Ouattara has received several honors, including Commander of the Ordre du Lion, Senegal; Commander of the Ordre du Mono, Togo; Commander of the National Order of Niger; Grand Officier of the National Order of Côte d’lvoire; and Honorary Governor, BCEAO.

He has published widely in the political, economic, and social fields. He was born in Dimbokro, Côte d’Ivoire. on January 1, 1942, and is an Ivoirien national.