IMF Podcasts

As inflation and interest rates continue to decline and the likelihood of a recession slowly fades, financial markets have seen big equity gains. But the latest Global Financial Stability Report (GFSR) warns of several factors that could upend the recovery, including the apparent disconnect between market buoyancy and heightened uncertainty, especially related to geopolitical risks. Jason Wu and Nassira Abbas lead the IMF’s work on financial stability. In this podcast, they say while the near-term risks appear contained, medium-term prospects remain a concern. Transcript: https://bit.ly/48cGMyV Read the full report at IMF.org/GFSR

While 21st-century globalization and international trade dramatically changed how multinational corporations operate, the way they are taxed is largely based on early 20th-century thinking. Recent efforts by the OECD and the UN to modernize the international corporate tax system include a minimum corporate tax to make it more equitable. The IMF has also joined the effort by providing its expertise on global tax policy. Senior counsel Cory Hillier and senior economist Shafik Hebous are coauthors of recent research that seeks to strengthen the impact of a corporate minimum tax.  Transcript: https://bit.ly/47YwFhb

Yuval Noah Harari, a celebrated historian and philosopher, dives into the fascinating interplay between storytelling and trust in human societies. He discusses how artificial intelligence threatens our most vital resource—trust itself. The conversation spans the evolution of money as a cultural artifact, revealing the complexities of modern financial systems. Harari also examines the agricultural revolution's legacy and its implications for today's AI-driven world, raising urgent questions about democracy and the integrity of communication.

With all the instability within the Middle East and North Africa region of late, Egypt has nonetheless managed to reign in soaring inflation and win its largest-ever foreign investment. Egypt’s efforts to restore macroeconomic stability in recent years have led to an arrangement under the IMF’s Extended Fund Facility for Egypt, which makes available US$820 million to help support its reform agenda. Ivanna Vladkova Hollar leads the IMF’s work in Egypt. In this podcast, she says that while stabilizing its economy is positive, Egypt’s next big step is an economic transformation that will lift its private sector. Transcript: https://bit.ly/4efXuzH Learn more about the IMF’s work in Egypt at IMF.org/Egypt

Nicholas Bloom, a Professor of Economics at Stanford University, shares insights on the transformative effects of remote work. He discusses how the pandemic shifted attitudes toward telecommuting and why hybrid models enhance productivity and profitability. Bloom highlights the positive societal impacts, including reduced pollution and changes in urban economics, questioning the future vibrancy of cities. He also explores the implications for family dynamics, suggesting that work flexibility could influence fertility rates and childcare arrangements.

The world has changed since postwar economic thought placed GDP growth as its guiding principle. 20th-century progress has pushed planetary resources to the limit and brings the sustainability of traditional macroeconomic models into question. In this podcast, Kate Raworth talks with journalist Rhoda Metcalfe about her alternative model Doughnut Economics, which places economic objectives within the social and ecological boundaries of the living planet. Raworth is an ecological economist and the author of Doughnut Economics: Seven Ways to Think Like a 21st Century Economist.  Transcript: https://bit.ly/475TLBW

Raghuram Rajan, former Reserve Bank of India governor and co-author of 'Breaking the Mold,' joins Rohit Lamba to discuss innovative strategies for India's growth. They emphasize shifting from traditional labor-intensive manufacturing to harnessing human capital. Rajan critiques the outdated development paths of other emerging markets, advocating for service-oriented growth and improved education. The hosts explore India's Production Linked Incentive scheme, the necessity of structured apprenticeship programs, and the importance of local governance in sustainable development.

For decades, governments have been tapping into global sovereign debt markets to smooth ups and downs in revenue with the hope that it would help spur investment. But what happens when government borrowing fails to deliver, and the citizens are left paying the bill? Mark Aguiar says emerging market and developing economies are especially vulnerable to interest rate spikes when debt levels are high. Aguiar is the Director of the International Economics Section at Princeton University, and his research suggests that sovereign borrowing to stabilize the economy may have the opposite effect. Transcript: https://bit.ly/3yHY3T8 Read the article at IMF.org/fandd

 The world is changing so quickly it’s hard to think of one aspect of our economic lives that hasn’t shifted from what it was only a few years ago. Trade is no exception. New technologies, the re-emergence of industrial policy, and rising geopolitical tensions are all putting added pressure on the international trading system. Michele Ruta is a trade expert at the IMF. He says global cooperation is key to preventing economic fragmentation, from which no one benefits. Transcript: https://bit.ly/4fuz7zo Check out the global trade webpage at IMF.org/en/Topics/Trade

Aging populations in many advanced and emerging market economies mean shrinking workforces, weighing on growth. However, the opposite is true in low-income countries where populations are growing, and the expanding workforce may lack the skills for the job market. How can these two scenarios offset each other? Lisa Kolovich says women hold the key. Kolovich is an economist in the IMF Inclusion and Gender Unit, which has published a study that shows that supporting women’s health and education isn’t only the right thing to do but helps build critical human capital. In this podcast, Kolovich says gender equality can serve as a stabilizing factor to rebalance demographic trends.  Transcript : https://bit.ly/4bFhZ6y