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Ms. May Y Khamis and Mr. Abdelhak S Senhadji

Prize or Penalty: When Sports Help Economies Score" looks at why countries vie to host the world's most costly sporting events. And, in a series of articles on "After the Crisis," we discuss why some countries were hit harder than others; how were shocks transmitted round the world, and whether protectionist pressures might intensify in 2010. As usual, we take on a number of hot topics, including housing prices, bankers' bonuses, Ponzi schemes, and inflation targeting. In "Picture This" we see that the number of hungry is on the rise, topping 1 billion. Our regular "People in Economics" column profiles Daron Acemoglu, the Turkish-born intellectual who won the American Economic Association's award in 2005 for the most influential U.S. economist under the age of 40. "Back to Basics" explains inflation; and "Data Spotlight" looks at how dollarization is declining in Latin America. Also includes articles by Nick Stern on climate change and Simon Johnson on bonuses and the "doomsday cycle

Mr. Chris Faulkner-MacDonagh and Mr. Martin Mühleisen

This paper presents a snapshot of changes in the world’s health and demographic conditions. The paper highlights that in most parts of the world, individuals are healthier and living longer, thanks to improved health services and living conditions and the more widespread use of immunization, antibiotics, and better contraceptives. Although this trend is likely to continue, hopes are fading in some regions where progress slowed or stopped in the 1990s, primarily as a result of the AIDS epidemic. Moreover, most regions of the developing world will not reach the Millennium Development Goals for health by 2015.

Mr. Charles Frederick Kramer

Asia Rising -- explores Asia's role in the world economy, the challenges faced from globalization, the quest for greater regional financial integration, the problem of lagging investment, and why East Asia performed so much better than Latin America. It also looks at the recovery of Japan and the rise of India and China. The economies of the ASEAN-4 come under the microscope in Country Focus. Other articles examine financial sector reform in Africa and the remaining hurdles to financial integration in the European Union. People in Economics profiles Paul Krugman, Back to Basics focuses on hedge funds, and the Straight Talk column looks at the problem of underdevelopment.

International Monetary Fund. External Relations Dept.

Asia’s overall growth is expected to remain strong in 2007, moderating slightly to just over 7 percent, according to the IMF’s latest regional outlook. China and India will continue to lead the way, with growth rates of 10.0 percent and 8.4 percent, respectively. Japan, the largest economy in the region, is likely to see growth broadly unchanged at 2.3 percent as the recovery firms up. David Burton, head of the IMF’s Asia and Pacific Department, told a press briefing on April 13 that the forecast reflected a modest easing of external demand, particularly in the United States, and also assumed an effective tightening of policies in China and India.


For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.

International Monetary Fund. Research Dept.

The IMF Research Bulletin, a quarterly publication, selectively summarizes research and analytical work done by various departments at the IMF, and also provides a listing of research documents and other research-related activities, including conferences and seminars. The Bulletin is intended to serve as a summary guide to research done at the IMF on various topics, and to provide a better perspective on the analytical underpinnings of the IMF’s operational work.

International Monetary Fund. External Relations Dept.

Rising energy prices and sharply decelerating house prices combined to create a challenging environment for U.K. policymakers in 2005. But the economy, which has recorded strong, steady growth in recent years, is proving resilient. In effect, the stresses of the past year have amounted to the toughest test yet for the country’s widely respected monetary and fiscal policy frameworks, say Susan Schadler, Deputy Director of the IMF’s European Department, and James Morsink, Division Chief for the United Kingdom. They discuss with the IMF Survey why these frameworks may also provide worthwhile examples for other countries facing similar challenges.

International Monetary Fund. External Relations Dept.

The decline in the U.S. personal saving rate over the past decade has coincided with considerable growth in home equity withdrawal. Many analysts suspect there is a link. A new IMF Working Paper by Vladimir Klyuev and Paul Mills explores the factors behind the two phenomena and investigates the extent to which home equity withdrawal has driven the falling saving rate. It also explores the degree to which rising interest rates and a slowdown in the housing market may now pose risks for household saving and consumption.