Coherent Identifier About this item: 20.500.12592/3rhpbn

Macroeconomic Research in Low-income Countries : Advances Made in Five Key Areas Through a DFID-IMF Collaboration

24 March 2021

Summary

Despite strong economic growth since 2000, many low-income countries (LICs) still face numerous macroeconomic challenges, even prior to the COVID-19 pandemic. Despite the deceleration in real GDP growth during the 2008 global financial crisis, LICs on average saw 4.5 percent of real GDP growth during 2000 to 2014, making progress in economic convergence toward higher-income countries. However, the commodity price collapse in 2014–15 hit many commodity-exporting LICs and highlighted their vulnerabilities due to the limited extent of economic diversification. Furthermore, LICs are currently facing a crisis like no other—COVID-19, which requires careful policymaking to save lives and livelihoods in LICs, informed by policy debate and thoughtful research tailored to the COVID-19 situation. There are also other challenges beyond COVID-19, such as climate change, high levels of public debt burdens, and persistent structural issues.

Authors

Tags

income inequality monetary policy debt economic growth low income countries gender inequality investment policies

Format
Paper
Frequency
occasional
ISBN
9781513566603
ISSN
2616-5333
Pages
76
Series
Departmental Paper No. 2021/006
StockNumber
MRLICSEA

Topics