Cover Departmental Papers
Emerging from the Global Crisis: Macroeconomic Challenges Facing Low-Income Countries
Author: International Monetary Fund
Series:
Departmental Papers
Volume/Issue:
Volume 2011: Issue 002
Language:
English
Publication Date:
22 Feb 2011
DOI:
https://doi.org/10.5089/9781616350734.087
ISBN:
9781616350734
ISSN:
2616-5333
Pages:
110
Keywords:
DPPP; DP; exchange rate; real GDP; current account; IMF staff estimate; economic recovery; a number of LICs; Policy buffer; Fiscal stance; Government debt management; Current account balance; Global; Sub-Saharan Africa; Caribbean; Middle East; Eastern Europe; baseline LIC inflation; LIC WEO projection
Legal-disclaimer:
The Departmental Paper Series presents research by IMF staff on issues of broad regional or cross-country interest. The views expressed in this paper are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Although the impact of the global crisis has been severe, real per capita GDP growth stayed positive in two-thirds of low-income countries (LICs), unlike in previous global downturns, and in contrast to richer countries. Emerging from the Global Crisis explores how LICS have coped with the global economic crisis. It reviews the impact of the crisis on LICs, domestic policy responses to the crisis, and the precrisis conditions of select countries. The prospects and challenges that LICs face are also considered. Sections of the paper look at growth prospects, policy recommendations, the general macroeconomic outlook, as well as the rebuilding of fiscal buffers. The authors also "stress-test" LICs' exposure to further volatility by using a hypothetical "downside" recovery scenario.
Cover Departmental Papers
Departmental Papers
ISSN:
2616-5333
Publisher:
International Monetary Fund

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