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International Monetary Fund. Communications Department
This issue of Finance & Development focuses on dark web of secret transactions that enable tax evasion and avoidance, money laundering, illicit financial flows, and corruption. Demands on government resources are building—to boost growth in some advanced economies, build infrastructure in emerging markets, and improve health and education in the developing world. IMF research shows that countries with lower levels of perceived corruption have significantly less waste in public projects. Among low-income countries, the share of the budget dedicated to education and health is one-third lower in more corrupt countries. The rise of digital finance, crypto assets, and cybercrime adds to the challenges. Consider the so-called dark web, a hidden marketplace for everything from stolen identities to arms and narcotics. Improving governance is not easy; it requires sustained effort over the long term.
International Monetary Fund. Communications Department
Finance & Development, September 2019
International Monetary Fund. Communications Department
Finance & Development, September 2019
International Monetary Fund. Communications Department
Finance & Development, September 2019
International Monetary Fund. Communications Department
Finance & Development, September 2019
International Monetary Fund. Communications Department
Finance & Development, September 2019
International Monetary Fund. External Relations Dept.
Finance and Development, September 2017
International Monetary Fund. External Relations Dept.
This paper focuses on the United States and the United Kingdom that were the main architects of the post-1945 order, with the creation of the United Nations systems, but they now appear to be pioneers in the reverse direction—steering an erratic, inconsistent, and domestically controversial course away from multilateralism. Other countries, meanwhile, for various reasons are incapable of assuming that global leadership and the rest of the world likely would not support a new hegemon in any event. The postwar system created at the BrettonWoods, New Hampshire, conference in 1944 should be credited with economic growth, a reduction in poverty, and the absence of destructive trade wars. It built a comity that encourages to this day cooperation on issues as diverse as taxation, financial regulation, climate change policy, and terrorism financing. The central postwar concern was international financial stability. The United States and the newly created International Monetary Fund were at the center of a system that sought to maintain that stability by linking exchange rates to the dollar, with the IMF the arbiter of any changes.
International Monetary Fund. External Relations Dept.
Finance and Development, March 2017
International Monetary Fund. External Relations Dept.
Finances & Développement, mars 2017