Podcasts

More than a million migrants have entered Europe this year according to the International Organization for Migration. In this podcast, we speak with Professor Barry Chiswick who says language acquisition is key to immigrant success. Chiswick says language skills among immigrants are a form of human capital, and can substantially increase potential earnings.

Inequality is on the rise. Around the world, the gap between the rich and the rest has been growing for the last 30 years. This month "Finance and Development" magazine takes up the theme of inequality, and includes an article by economist and author of a history of global inequality, Branko Milanovic. In this podcast, he explains some of the reasons for the increasing gap between the haves and the have-nots.

After just over 24 hours in her post, the IMF's Managing Director, Christine Lagarde has given her first press conference.. Ms Lagarde said that the challenges threatening the fragile and uneven global recovery prompted her to start her job immediately. Responding to journalists' questions, she outlined what she saw as the priorities facing her.

Natural resource wealth can be a double-edged sword. So how can countries avoid the "curse" which may accompany their natural wealth? In the second of this two-part series, we explore the conditions, which contribute to the successful management of natural resources, and can lead to economic growth.

Historically, countries rich in natural resources have had slower growth than resource-poor countries. This paradox has often been attributed to the "natural resource curse." In the first of this two-part series, we look at the reasons behind this "curse," and investigate why natural resources often fail to create prosperity.

Each year billions of dollars in proceeds from criminal activity are "laundered." It is estimated that the amounts involved could be as much as two to five percent of the world's GDP. In this podcast, a member of the IMF explains how the Fund is contributing to the international fight against money laundering and terrorism financing.

Japan's earthquake and tsunami earlier this year sent economic reverberations around the globe. As the Japanese begin the long process of rebuilding, and to coincide with an article to be published in June's Finance and Development magazine, one IMF economist offers his thoughts on how the world's third largest economy might use this opportunity to secure its long-term fiscal future.

Failure is not necessarily a bad thing, according to Tim Harford. In his new book, Adapt, reviewed in the IMF's F&D; magazine, Harford argues the world is so complex that only through trial and error can we find solutions to the problems confronting us. In conversation with Simon Johnson, Harford says we need to allow more room for failure in the financial sector.

China has a swelling elderly population. People over the age of 60 now account for 13.3% of the population, up nearly 3% since 2000—a trend fueled, in part, by the one-child policy. To mark the "Costs of Aging" theme in the June issue of Finance & Development magazine, we look at the implications of growing numbers of elderly in the world's most populous nation.

Policies designed to pull the poor out of poverty can end up being, at worst, ineffective, at best, actively harmful. Developmental economist, Esther Duflo believes that just as one would test a new drug, social policy ideas should be subject to randomized control trials.

"Success always starts with failure" suggests Tim Harford, author of a new book entitled "Adapt". In this conversation with former IMF Chief Economist, Simon Johnson, Harford explains why the path to success often involves failure, experimentation, and adaptation.

Another year of strong growth is predicted for most of the 29 low-income countries in sub-Saharan Africa. The IMF's latest Regional Economic Outlook projects that these countries' output will expand on average by 6 percent in 2011, compared with last year's 5½ percent pace. But risks remain from rising oil prices and lingering uncertainties in the global outlook.

The Middle East and North Africa have the highest youth unemployment rates in the world – around 23 percent in 2009, according to the International Labor Organization. The region also has some of the world's highest percentage of young within their populations. As Jacob Fenston reports, addressing joblessness in the region will require major structural changes.

Food prices were up over forty percent in early 2011 compared to the same time last year, according to the IMF. They are at about the same level as during the 2008 crisis when price increases led to food riots around the world. The IMF's Jacob Fenston investigates the impact of price rises and measures that countries are taking to cushion their people and farmers.

Zambia weathered the global financial crisis strongly, but the central African nation faces major challenges in the future. These include ensuring a steady stream of tax revenues from its mining industry, and compensating for diminishing funds from traditional donors. But the Zambian finance minister says he is optimistic about his country's future and is welcoming new investors.

Food prices are near record highs worldwide. In parts of Sub-Saharan Africa for example, maize prices have increased by up to 20 to 30 percent in the past three months alone, according to World Bank figures. One NGO representative says these price spikes not only hurt the most vulnerable in society, they also ferment unrest.

Even before the unrest which swept through north Africa and the Middle East, the IMF was warning that Tunisia needed to undertake major structural reforms to address high rates of joblessness. The unemployment rate in this north African state is estimated at over 13 percent, but as one youth activist explains, the situation is even worse for the young.

Despite recent economic growth, unemployment and underemployment rates in north Africa and the Middle East are among the highest in the world. Young people, who make up much of the population, are the hardest hit. One former IMF economist says the lack of job prospects contributed to the recent unrest in the region.

Strauss-Kahn said that recent events in North Africa illustrated that economic recovery without jobs was meaningless (photo: IMF) The head of the IMF, Dominique Strauss-Kahn has said the world is recovering from the global economic downturn but "it was not the recovery we want." At the start of the annual IMF-World Bank Spring Meetings in Washington DC, Strauss-Kahn called for urgent action on the challenges confronting future growth, including rising food and fuel prices and high unemployment.

A successful private sector is essential for economic takeoff but in Sub-Saharan Africa, private businessmen and women face particular constraints. These include the lack of basic infrastructure, burdensome bureaucracy, and the absence of supportative business networks. One developmental economist suggests some solutions to ease the way for African businesses.

Since the global economic crisis, the small, landlocked kingdom of Swaziland has seen the amount of revenue into its state coffers fall by a third. With one of the highest public wage bills in Africa, the authorities in the country have now requested a "staff-monitored program" with the Fund to help the country return to financial health.

West Africa's economic recovery from the global financial crisis is now being threatened by the prolonged political crisis in Côte d'Ivoire. The economic impact of disputed national elections in that country is being felt most keenly the West African Economic Monetary Union (WAEMU) whose members face the financial fallout and are bearing the strain of fleeing refugees.

The only two things that are certain in life are death and taxes, according to Benjamin Franklin, one of America's founding fathers. True or not, many developing countries are still finding it a challenge to set up an efficient, effective tax system. Now a conference seeks to learn from countries in Africa with successful tax policies and systems.

A group of eminent experts has proposed reforms to the international monetary and financial system, to avoid a repeat of the financial crisis which triggered the worst slump in over half a century. In this podcast interview, the lead author, Michel Camdessus explains the report's main recommendations.

With double-digit growth over recent years, Islamic finance has generated significant, and increasing interest around the world. It is serving previously underbanked populations, while many governments, particularly in Sub-Saharan Africa, are now looking at Islamic finance as a possible new source of funding.

What happens when a money loses its value? A British author recounts the chaos which descended on German in the inter-war years when a currency died, a national economy perished and the population suffered the consequences. Author and former government advisor, Adam Fergusson, says there are parallels with events taking place today.

Global food prices hit record high last month, according to the UN's Food and Agriculture Organization. They have surpassed the levels during the 2007-08 food crisis when surging prices sparked unrest in many countries. What is behind this upward pressure on wholesale food prices and what are the implications for Sub-Saharan Africa?

Most countries in Sub-Saharan Africa have recovered rapidly from the global financial crisis, with the region projected to grow 5½ percent this year. But in this podcast to mark the update to the IMF's World Economic Outlook, the Fund warns that rising world food prices could undermine the sense of recovery for many in Sub-Saharan Africa, especially the urban poor.

Guinea Bissau is on the brink of a "new beginning", according to the IMF. This West African country has recently had 87 percent of its external debt cancelled. That means less money spent on servicing debt and more money available for health, education and investment.

Asia—which currently boasts the fastest growth rate in the world—is expected to post an average of 7 percent growth in 2011. But this year, the region will need to continue managing its exit from stimulus programs and the large capital inflows pouring into the area, says one of the IMF's leading economists.

Togo has qualified for over 1.8 billion dollars of debt relief—equivalent to 80 percent of its external debt. The IMF's Roger Nord explains the significance of this decision for the west African state, and describes the creation of the "Heavily Indebted Poor Countries" (HIPC) Initiative, designed to release the poorest nations from the cycle of endless interest payments on unsustainable debt.

Surging property prices in China have raised fears that the country is in the grip of a growing property bubble. With China acting as a key engine of world recovery, any real estate slump would have global implications. An IMF economist weighs up the evidence and answers the question: Are House Prices Rising Too Fast in China?

In the last decade and a half, a number of countries in Africa have been making steady economic gains. A new book "Emerging Africa" identifies five key factors (better governance, the end of the debt crisis, stronger economic policies, new technologies, and a new generation of leaders) powering the rise of these African stars.

The IMF is set to double the amount of training to member states in the Middle East, with the opening of a new training center in the region. It will leverage the Fund's expertise to provide instruction to officials from Arab League countries who are responsible for economic management.

After teetering on the verge of economic collapse, over the last year and a half Mongolia has witnessed a remarkable recovery. In this podcast, Steve Barnett, the IMF’s top economist Mongolia predicts a bright future for the landlocked country and its population of 3 million.

Not many economists predicted the global financial slump, but one man who did is the former Chief Economist of the IMF Raghuram Rajan. In this podcast, he introduces his new book, an analysis of what he sees as the underlying causes of the crisis.

It’s one of the thorniest issues in developmental economics: what, if any, are the benefits of foreign aid? Two economists pit their radically different views against eachother (Andrew Berg , IMF Research; Arvind Subramanian;Peterson Institute, Hyun-Sung Khang, IMF EXR)

Prospects for China’s economy look bright after successfully weathering the global crisis, but as the IMF’s lead economist for China, Nigel Chalk explains, risks remain.

The recent global crisis had a pronounced, but varied, impact on emerging markets, with some suffering large output collapses and others less affected. IMF economist Reza Baqir discusses the factors that have influenced the pace and timing of their recovery.

Gene Leon, new Resident Representative for Jamaica.

An interview of Antoinette Sayeh on how stronger policies helped Africa through the global economic crisis, with additional questions on Kenya and South Africa

Transformation of Poland with Mark Allen, IMF Senior Resident Representative for Eastern and Central Europe

Six months after Addis Ababa approached the IMF for a loan to deal with the effects of the crisis, the Fund’s resident representative to Ethiopia explains how the country is weathering the slump and its prospects for the future.

Canada didn’t escape the shock of the global economic crisis, but its rebound is quickly outpacing other advanced economies

IMF Chief Dominique Strauss-Kahn Speech during the 2009 IMF/World Bank Annual Meetings Plenary in Istanbul, Turkey on Octoberober 6, 2009

Podcast of a meeting hosted by the German Marshall Fund, Brussels, on The IMF`s new policy and lending framework for Low Income Countries (LICs). IMF Speakers: Dominique Desruelle, Roger Nord and Christian Mumssen

Amid the worst slump in half a century, the International Monetary Fund is rising to the challenge posed by the global economic crisis. The Fund has dramatically increased its lending, is using its cross-country experience to advise on policy solutions, and is introducing reforms to modernise its operations. Three experts from the IMF discuss the transformation of the international body.

A key indicator of the depth of the global economic crisis has been the dramatic slump in world trade. IMF economists, Kalpana Kochhar, Thomas Dorsey and Paulo Drummond talk to the Fund’s Hyun-Sung Khang about the reasons behind the plunge in global commerce and its impact on exporters around the world.

IMF economists Paolo Mauro, Charles F. Kramer, and Steven A. Barnett talk with Jim Rowe about using public money to compensate for declining private demand and how the U.S. and China are doing it

Michael Spence and Mahmoud Mohieldin on Growth, Globalization