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CGD’s work on the International Monetary Fund investigates the effects of IMF policies on developing countries.
Current work centers on issues of development and debt sustainability. For example, in countries hosting large refugee populations, how can fiscal pressures to support refugees be reconciled with the need for debt reduction? What is the IMF’s role in helping countries reconcile these competing priorities? In frontier markets, is recent rapid debt accumulation putting hard-won macroeconomic sustainability and development investment programs in jeopardy? What mechanisms can best be used by the IMF and others to slow debt accumulation while keeping investment going? What are the best practices for debt transparency? If debt crises occur in the future how will they be resolved? CGD’s ongoing work explores these questions and more.
Economic recovery in Latin America and the Caribbean (LAC) is gaining momentum, but more work is needed to ensure growth is both sustainable and inclusive. Looking ahead, activity is expected to gather further momentum—reflecting stronger demand at home and a supportive external environment. But there are still challenges ahead. Risks to the region’s outlook reflect internal factors as well as heightened external risks—notably, a shift towards more protectionist policies and a sudden tightening of global financial conditions. Additionally, longer-term growth prospects for Latin America and the Caribbean remain subdued.