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International Monetary Fund. Secretary's Department

Abstract

Sept ans après l’éclatement de la crise financière mondiale, le monde a encore beaucoup de chemin parcourir pour arriver à une reprise durable, marquée par une croissance forte permettant la création rapide d’emplois et apportant des avantages à tous, déclare la Directrice générale du Fonds monétaire international (FMI), Christine Lagarde, dans son message d’introduction au Rapport annuel 2014 de l’institution, intitulé De la stabilisation à la croissance durable, rendu public aujourd’hui. «La reprise est bien là, mais elle est encore trop lente et trop fragile, à la merci des aléas financiers. Des millions de personnes sont toujours sans emploi. L’incertitude a certes reflué, mais il est clair qu’elle n’a pas disparu.» Mme Lagarde ajoute que «pendant toute la durée de la crise et la période de redressement, le FMI a été, et continue d’être, un agent indispensable de la coopération économique» pour les pays membres. Le Rapport annuel rend compte du travail du Conseil d’administration du FMI et contient les états financiers de l’institution pour l’exercice allant du 1er mai 2013 au 30 avril 2014. Il décrit le soutien que le FMI apporte à ses 188 pays membres, en mettant l’accent sur les missions fondamentales de l’institution : évaluer les politiques économiques et financières des pays, leur fournir des financements en cas de besoin et développer leurs capacités techniques.

International Monetary Fund. Secretary's Department

Abstract

The period from May 2013 through April 2014—the IMF’s financial year 20141—saw the world economy reach a critical juncture: emerging from the greatest financial crisis in almost a hundred years. Recovery was taking hold but was too slow and faced many obstacles along the road. In her Global Policy Agenda, the IMF’s Managing Director set out bold policy steps that could overcome these obstacles and take the global economy toward more rapid and sustainable growth. The top priority was to strengthen the coherence of the policies and cooperation among policymakers, both at home and across borders: national prosperity and global prosperity are linked and depend, more than ever before, on countries working together. The IMF is indispensable for this global cooperation.

International Monetary Fund

Abstract

The IMF remains central to efforts to restore the global economy to a robust and sustained growth path. The institution’s work during FY20111 focused on providing policy advice and technical support to member countries to help achieve this goal, meeting the financing needs of countries to support their adjustment efforts, including through programs in Greece, Ireland, and Portugal (the latter in early FY2012), putting in place systems that will strengthen the institution’s ability to identify and respond to global economic risks as they emerge, and working on reforms that will strengthen the international monetary system.

International Monetary Fund

Abstract

As FY2010 drew to a close,1 the global economy appeared to be emerging from the worst recession in over 60 years. The recovery remained uneven, however, with some economies growing very robustly, while others were experiencing more tepid rebounds, and downside risks were increasing-and continued to do so in early FY2011. Policies are needed to address these risks and set the stage for a return to strong and sustained global growth.

International Monetary Fund. Secretary's Department

Abstract

The period from May 2012 through April 2013—the IMF’s financial year 20131—saw the world dealing with the prolonged effects of a global crisis that had persisted well beyond initial expectations in an atmosphere of heightened global change. With economic activity remaining weak and the potential for renewed stresses still high, efforts to advance global stability and a secure future were as essential as ever.

International Monetary Fund

Abstract

After suffering the first contraction since World War II in 2009, the global economy staged a strong recovery in 2010, with world GDP growing by 5 percent. However, the pace of activity remained geographically uneven, with employment lagging. Economic performance during 2010 was a tale of two halves. During the first half of the year, the recovery was driven by the rebuilding of depleted inventories, which fostered a sharp rebound in industrial production and trade. Supportive macro-economic policies also played an important role. During the second half, as the inventory cycle leveled off and fiscal consolidation loomed in many advanced economies, fears of a double-dip recession increased. In the end, reduced excess capacity, accommodative policies, and further improvements in confidence and financial conditions bolstered private demand, making the recovery more self-sustaining. Investment was in the lead, though consumption also regained strength.