Emerging from the Global Crisis: Macroeconomic Challenges Facing Low-Income Countries

February 22, 2011

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Format: Chicago

Emerging from the Global Crisis: Macroeconomic Challenges Facing Low-Income Countries, (USA: International Monetary Fund, 2011) accessed December 25, 2024

Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

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.

Subject: Balance of payments, Current account balance, Fiscal policy, Fiscal stance, Government debt management, Public debt, Public financial management (PFM)

Keywords: A number of LICs, Baseline LIC inflation, Caribbean, Current account, Current account balance, DP, DPPP, Eastern Europe, Exchange rate, Fiscal stance, Global, Government debt management, IMF staff estimate, LIC WEO projection, Middle East, Policy buffer, Real GDP, Sub-Saharan Africa

Publication Details

Pages:

110
Volume:

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DOI:

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Issue:

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Series:

Departmental Paper No. 2011/002
Stock No:

ETGCEA
ISBN:

9781616350734
ISSN:

2616-5333

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