Review of the Role of Trade in the Work of the Fund

April 3, 2023

Preview Citation

Format: Chicago

Review of the Role of Trade in the Work of the Fund, (USA: International Monetary Fund, 2023) accessed November 23, 2024

Summary

This paper outlines key changes in the global trade landscape in recent years, reviews the role of the Fund in this area, and outlines a trade strategy for the Fund going forward. The analysis points to three key messages. First, while trade has been resilient vis-à-vis recent global shocks, the deteriorating trade policy environment poses risks to the current levels of prosperity. Second, the Fund has responded quickly to key trade developments in its multilateral surveillance, but attention to trade policy has declined pointing to the need of improved expertise. Third, a reinvigorated trade strategy for the Fund would help country authorities to address key challenges, including adjusting to structural changes associated with climate change and new technologies; promoting policy coherence between trade and non-trade objectives such as climate, inequality, and security; and managing rising geopolitical tensions and risks of geo-economic fragmentation.

Subject: International trade, Political economy

Keywords: Addressing trade opportunity, Areas of fund expertise, Asia and Pacific, Bilateral surveillance, Core trade area, East Asia, Fund Agenda, Fund expertise, Geo-economic fragmentation, Global, International trade, Multilateral surveillance, Trade barriers, Trade diversification, Trade expertise, Trade facilitation agreement, Trade finance, Trade in services, Trade landscape, Trade policy, Trade tensions, Trade-distortive policy, Transparent trade policies, Value chain

Publication Details

Pages:

98
Volume:

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DOI:

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Issue:

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Series:

Policy Paper No. 2023/013
Stock No:

PPEA2023013
ISBN:

9798400237805
ISSN:

2663-3493

Notes

Online Appendix I. Management Engagements and IMF Research on Trade

Press Release: IMF Executive Board Concludes the Review of the Role of Trade in the Work of the Fund

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