IMF Podcasts

As China's economy catches up in size with that of the United States, some predict the renminbi will soon challenge the dollar's dominance in international finance. But in this podcast, Cornell University's Eswar Prasad says there are limits to how far China's currency can go without undertaking significant domestic reforms. Prasad, a former IMF economist himself, was invited to IMF headquarters in Washington to talk about his latest book Gaining Currency: The Rise of the Renminbi Contributors: Eswar Prasad, Professor of Trade Policy and Economics at Cornell University, Senior Fellow at the Brookings institution, and author.

Drought, regional conflict, and slow credit growth are taking their toll on Uganda's economy. While per-capita growth has hovered around 5 percent for the last 20 years, the IMFs latest economic assessment shows it has fallen to 1/2 percent. In this podcast, the report's coauthor Axel Schimmelpfennig, says some strategic infrastructure investment and Uganda's untapped oil reserves could help turn things around. Contributors: Axel Schimmelpfennig, IMF Mission Chief for Uganda

By 2035 sub-Saharan Africa will have more working-age people than the rest of the world's regions combined. This growing workforce bulge will have to be met with jobs, but the region remains one of the toughest places to do business. Meanwhile, small-unregistered household businesses provide up to 90 percent of jobs outside of agriculture. The IMF's latest Regional Economic Outlook for sub-Saharan Africa devotes an entire chapter on the informal economy, and in this podcast we speak with economist Ali Mansoor, coauthor of the study. Contributors: Ali Mansoor, IMF Division Chief for West Africa, and coauthor of the report.

More than two billion people worldwide are without bank accounts, and only one in three adults in sub-Saharan Africa have access to any type of financial services. But Tayo Oviosu, Founder of Nigeria's leading mobile payment platform says financial technology—or fintech, is making access to finance possible for millions of un-banked Nigerians. Tayo Oviosu, Founder and CEO of Paga, Nigeria's mobile payment platform. Watch webcast of IMF World-Bank Spring meetings panel on Digital Financial Inclusion

While science and technology propel us into the future at what some would describe as breakneck speed, Oxford University's Ian Goldin says we should draw from the past because we've been here before. In this podcast, Goldin compares the social division, political extremism and insecurity of the first Age of Discovery in the 15th Century, with what is happening today. Contributors: Ian Goldin, founding director of the Oxford Martin School, and Professor of Globalization and Development at Oxford University.

While millions of young people enter the labor market every year, the chance of landing a traditional full-time job with benefits are getting slim. Global youth unemployment is on the rise and many young people are opting to work in what's known as the sharing economy. In this podcast, IMF Managing Director Christine Lagarde shares her thoughts about policies that might help today's youth better adapt to the changing nature of work. Read Christine Lagarde's Straight Talk about millennials and the future of work, in the June 2017 edition of Finance and Development magazine. Contributors: Christine Lagarde, IMF Managing Director

The IMF's Special Drawing Rights have failed to gain real traction in the international monetary system, but Mohamed El-Erian, Chief Economic Advisor at Allianz and former IMF Deputy Director, believes a greater role for the SDR in global markets could help strengthen the world economy. Contibutors: Mohamed El-Erian, Chief Economic Advisor at Allianz and former IMF Deputy Director.

FinTech—or financial technology—is poised to revolutionize how the world does business. It could open new kinds of markets to many more people, but it could also threaten our financial privacy or make illicit financial transactions easier. In this podcast, Fintech expert Patrick Murck describes the coming transformation and its pitfalls. Contributors: Patrick Murck, fellow at the Harvard Berkman Klein Center for Internet and Society, and a Special Counsel at Cooley LLP.

The IMF's latest regional economic outlook for Sub-Saharan Africa shows growth has fallen to its lowest level in twenty years. In this podcast, co-author Céline Allard, says while some countries like Senegal and Kenya continue to experience growth rates higher than 6 percent, growth has slowed for two thirds of countries in the region bringing down average growth in 2016 to 1.4 percent. Contributors: Céline Allard, Head of the Regional Studies Division in the IMF's African Department

La dernière édition des Perspectives économiques régionales, indique que la croissance en Afrique subsaharienne est tombée à son plus bas niveau depuis plus de 20 ans. Dans ce podcast, coauteur Céline Allard, explique si certains pays continuent d'enregistrer une croissance supérieure à 6 %, l'expansion a ralenti dans deux tiers des pays de la région, ce qui a réduit la croissance moyenne à 1,4 % en 2016. Contributors: Céline Allard, chef de la division des études régionales au Département Afrique du FMI

The labor force 30 years from now will look very different as working-age populations in advanced economies start to shrink. While some today worry they'll lose their jobs to robots, economists like Google's Hal Varian, wonder if technology will boost productivity enough to compensate for the shifting demographics. Varian, and Harvard's David Canning, discussed the topic during an IMF World-Bank Spring Meetings seminar earlier this month. Hal Varian, Google's Chief Economist and an Emeritus Professor at UC Berkeley. David Canning, Professor of Population Sciences, Economics and Intl Health, Harvard University, Department of Global Health and Population.

The IMF's latest World Economic Outlook projects global growth at 3.5 percent in 2017 and 3.6 percent in 2018. In this podcast, IMF Chief Economist Maurice Obstfeld says global growth is gaining momentum. Contributors: Maurice Obstfeld, IMF Economic Counselor

The 2008 global financial crisis exposed the vulnerability of banks that do not hold enough capital. The Basel Committee on Banking Supervision has since revised capital requirements for banks. In this podcast, we ask IMF economist Lev Ratnovski, how much capital banks need to hold to avert another crisis. Contributors: Lev Ratnovski, Senior Economist in the IMF's Research Department.

Muna AbuSulayman, is founder and co-host of the most popular social issues program on Arab television. Kalam Nawaem tackles controversial topics and has been pushing social boundaries in the region for 15 years. In this podcast, AbuSulayman says Arab women should be free to achieve their goals without cultural or economic barriers. Contributors: Muna AbuSulayman, Co-founder of Meedan.com, a news hub for Arab youth and women.

Labor unions around the world are having to adapt to a fast changing labor market. John Evans heads the Trade Union Advisory Committee to the OECD, and represents some 65 million organized workers worldwide. In this podcast, Evans says workers are caught in the middle of rapid technological change and slow global growth. Contributors: John Evans, General Secretary of the Trade Union Advisory Committee to the OECD.

As the Group of Twenty finance ministers and central bank governors meet in Germany this week, policymakers are looking at ways to increase investment in Africa. ONE Campaign's Jamie Drummond says investing into the education, employment and empowerment of this generation of Africans will help create jobs and curb migration into Europe. Contributors: Jamie Drummond, Co-Founder and Executive Director of The ONE Campaign

Global trade union leaders gathered at the IMF in February to discuss how workers are being impacted by the changing global economy. In this podcast, Hilma Mote, of the African Region's International Trade Union Confederation talks about the challenges African youth, especially women are facing with the continent's rapidly growing labor force. Contributors: Hilma Mote, Executive Director of the Africa Labor research and education Institute, ITUC-Africa.

There is a strong connection between human capital and economic growth, and in this podcast, Eric Hanushek says societies that invest a lot in the cognitive skills of their people grow significantly faster. Hanushek studies the relationship between education policy and economic outcomes at Stanford University. Contributors: Eric Hanushek, Paul and Jean Hanna Senior Fellow at the Hoover Institution of Stanford University. http://hanushek.stanford.edu/

In this podcast we speak with author Alec Ross about his new book The Industries of the Future. Ross says 90 percent of the world's data has been produced in the last two years, so those businesses that own or harvest a meaning from all this data will be leading the pack. Ross has served as Senior Advisor for Innovation to the US Secretary of State. Contributors: Alec Ross, Distinguished Senior Fellow at Johns Hopkins University.

Every two years, the IMF and World-Bank invites global labor union leaders to discuss the global economy and the implications for the labor force. In this podcast, Sharan Burrow, head of the world's largest trade union federation, says collective action is needed to help better distribute the benefits of growth, if institutions are to regain trust from working people. Contributors: Sharan Burrow, General Secretary of the International Trade Union Confederation.

With Asia's recent growth comes a growing responsibility within the global economy. In this podcast, Barry Eichengreen, Professor of Political Science at the University of California, Berkeley, breaks down the weight of that responsibility and how Asia can rise to fulfill it. Contributors: Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Professor of Political Science at the University of California, Berkeley.

While many African countries have enjoyed significant revenues from the mining industry in recent years, a new study published by the Natural Resource Governance Institute suggests tax revenues from mining could be much higher if transfer pricing rules were enforced. In this podcast, we speak with the report's author Alexandra Readhead. Contributors: Alexandra Readhead, author of Preventing Tax Base Erosion in Africa

Corruption, in its many forms, affects people from every walk of life, in every country. While it does not discriminate based on age, young people are affected by corruption in ways that can follow them throughout their careers. In this podcast, anti-corruption leader Sergejus Muravjovas, talks about the ways in which youth are fighting back. Contributors: Sergejus Muravjovas, Executive Director at Transparency International Lithuania and founder of TransparencySchool.org

New York Times columnist and best-selling author Thomas Friedman, says our lives are being transformed in so many realms at once- it's dizzying. In this podcast, Friedman talks about his new book, Thank You for Being Late, An Optimist's Guide to Thriving in the Age of Accelerations. Contributors: Thomas Friedman, New York Times columnist and best-selling author.

Julie Delahanty has done extensive work on the disenfranchisement of women due to the lack of equal opportunity. Delahanty is the Executive Director of Oxfam Canada, and joined a panel discussion during the IMF conference on Reducing the Gender Gap. In this podcast, Delahanty says vulnerable women are the most negatively affected by rising inequality. Contributors: Julie Delahanty, Executive Director of Oxfam Canada

Who benefits from free trade and who doesn't? The realities don't always match people's perceptions. In this podcast, economist and free trade expert Douglas Irwin addresses some of the controversies. Irwin participated in a seminar entitled Making Trade an Engine of Growth for All at this year's IMF/World Bank Annual Meetings. Contributors: Douglas Irwin, John Sloan Dickey Third Century Professor in Social Sciences in the Department of Economics at Dartmouth College

Ravi Kanbur says statistics are fundamentally political in nature and in import. Kanbur is Professor of Economics at Cornell University and gave the keynote speech at the Fourth IMF Statistical forum on Statistics for Inclusive Growth, held in November 2016. In this podcast, Kanbur says data doesn't always reflect reality when it comes to poverty and inequality. Contributors: Ravi Kanbur: T. H. Lee Professor of World Affairs and Professor of Economics at Cornell University.

Globalization is a recent term, but the internationalization of markets, people, ideas, and cultures is nothing new. In this podcast, IMF historian Harold James, talks about how the past might help guide us into the future. James is Professor of History and International Affairs at Princeton University, and author of New Concept Old Reality published in the December 2016 edition of Finance and Development magazine. Contributors: Harold James, Professor of History and International Affairs at Princeton University and IMF Historian

Esther Duflo, Professor of Development Economics at MIT, co-founded The Poverty Lab to find innovative approaches to poverty alleviation. In this podcast, Duflo says all economic and social dimensions of poverty must be considered in order to effectively address the problem. Duflo presented the 2016 Richard Goode lecture at the IMF earlier this month. Contributors: Esther Duflo: Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at the Massachusetts Institute of Technology.

The IMF's latest Regional Economic Outlook for Sub-Saharan Africa dedicates an entire chapter on what a drought, an earthquake or a pandemic can do to a country's economy. In this podcast, lead authors Marshall Mills and Vimal Thakoor say natural disasters have a much bigger impact in sub-Saharan Africa than any other region. Contributors: Marshall Mills: Economist and Mission Chief for Madagascar, IMF African Department. Vimal Thakoor: Economist, IMF African Department.

While the benefits of expanding women's participation in the economy are clear, women around the globe continue to face barriers. In this podcast, Action Aid's Nyaradzayi Gumbonzvanda says women bear a disproportionate responsibility for unpaid care work, and ill-thought-out policies often add to that burden. Gumbonzvanda joined a panel on Making Macroeconomics Work for Women at the IMF World-Bank Annual Meetings. Contributors: Nyaradzayi Gumbonzvanda, International Board Chair for Action Aid

In this podcast, IMF Managing Director, Christine Lagarde, and best-selling author Michael Lewis (The Big Short), reflect on lessons learned from the financial crisis and other issues facing the world economy. The discussion took place before a live audience during the IMF World-Bank Annual meetings last month. Contributors: Christine Lagarde: IMF Managing Director. Michael Lewis: Author, columnist and financial journalist.

In this podcast, inventor and futurist Ray Kurzweil talks about how artificial intelligence is helping overcome human limitations and creating better-paying jobs. Kurzweil participated in a panel discussion entitled Technology, Innovation, and Inclusive Growth, during the 2016 IMF World-Bank Annual Meetings. Contributors: Ray Kurzweil: Inventor, futurist, and author.

The IMF's latest regional economic outlook for Sub-Saharan Africa shows growth at its lowest level in more than 20 years. But in this podcast, the African Department's new Director, Abebe Aemro Selassie, says it's a mixed story of struggling oil-exporters and strong performers. Contributors: Abebe Aemro Selassie, Director of the IMF's African Department

Le dernier rapport du FMI sur les Perspectives économiques régionales prévoit que le taux de croissance économique de l'Afrique subsaharienne devrait descendre à son plus bas niveau depuis plus de deux décennies. Mais Céline Allard, chef de la division des études régionales au Département Afrique, dit que plusieurs pays continuent de croitre de manière très robuste Contributeurs: Céline Allard, chef de la division des études régionales au Département Afrique du FMI

The IMF's latest World Economic Outlook projects global growth at 3.1 percent in 2016 and 3.4 percent in 2017. In this podcast, IMF Chief Economist Maurice Obstfeld says growth has been too slow for too long. Contributors: Maurice Obstfeld, IMF Chief Economic Counselor

Ghana's economy—once a model for growth in West Africa, took a turn for the worse in 2012. It's been getting help from the IMF under a 3-year program known as the Extended Credit Facility. The IMF board has approved another US$116m, and under the arrangement Ghana could receive more than US$900m if all targets are met. In this podcast, Joël Toujas-Bernaté, IMF mission chief for Ghana, says the country is making good progress. Contributors: Joël Toujas-Bernaté, IMF Mission Chief for Ghana

While Ethiopia has been experiencing strong growth since the early 2000s, the IMF's latest review of the country's economy says low commodity prices and a drought have put growth levels well below 10 percent for the first time in a decade. In this podcast, we speak with Julio Escolano, IMF Mission Chief for Ethiopia, who oversaw the writing of the report. Contributors: Julio Escolano, IMF Mission Chief for Ethiopia.

More than 1 million migrants and refugees made their way to Europe last year, 350K from Syria alone. A recent IMF study says people fleeing conflict areas in the Middle-East and North Africa has brought about the biggest refugee crisis since World War 2. In this podcast, the UN's Kyung-Wha Kang says the 1951 UN convention for refugees is no longer enough. Contributors: Kyung-Wha Kang, Assistant Secretary-General for Humanitarian Affairs and Deputy Emergency Relief Coordinator at the United Nations.

The United Nations estimates the global creative economy in 2011 generated more than $600 billion. In this podcast we speak with Patrick Kabanda, who says a country's cultural wealth presents a huge development opportunity. Kabanda is author of Music Going for a Song published in the September 2016 edition of Finance & Development Magazine. Contributors: Patrick Kabanda, Consultant for the office of the Senior Vice President and Chief Economist at the World Bank

As robotic technology becomes more sophisticated, robots could soon become perfect substitutes for human labor. In this podcast, IMF economist Andy Berg says the robot revolution could lead to greater inequality. Berg is coauthor of Robots, Growth, and Inequality published in the September 2016 edition of Finance & Development Magazine. Contributors: Andy Berg, Deputy Director of the IMF's Institute for Capacity Development

Taxes are what governments rely on to provide the public goods and services that support economic growth. In this podcast, DG DEVCO's Klaus Rudischhauser, says some countries with millions of inhabitants have only a few hundred tax payers. Rudischhauser participated in a Spring Meeting's seminar on Capacity Development entitled Collect More & Spend Better Contributors: Klaus Rudischhauser, Deputy Director-General of the European Commission's International Cooperation and Development (DG DEVCO)

Les Autorités Malagasy et les services du FMI sont arrivés à un accord de principe sur un programme économique valable jusqu'à fin 2019, ouvrant la voie à une croissance soutenue et inclusive. Les politiques envisagées dans ce cadre pourraient bénéficier d'un concours de $310 millions de dollars. Dans ce podcast, Marshall Mills, chef de Mission pour le Madagascar, discute les points essentiels du nouveau programme. Contributors: Marshall Mills, chef de Mission du FMI pour le Madagascar

The IMF says Madagascar has built a good track record since it's reengagement in 2014, showing the country is capable of sustaining recent reforms that have improved its economic outlook. In this podcast, Mission Chief, Marshall Mills talks about a new IMF program for Madagascar that includes US$ 310 million over three years. Contributors: Marshall Mills, IMF Mission Chief for Madagascar

Abhijit Banerjee, has worked in dozens of countries trying to better understand the economics of poverty. He argues anti-poverty policies often fail because of inadequate understanding of the decisions poor people make. Banerjee Participated in a seminar on Sustainable Economic Development during the IMF World-Bank Spring meetings. In this podcast, we discuss why so little is known about a billion poor people in the world. Contributors: Abhijit Banerjee, Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology, and author of Poor Economics, A radical Rethinking of the Way to Fight Global Poverty

It's vital to address the economic challenges of women and girls in order to fix the economic challenges of nations. This was the main theme of a seminar called Getting Down to Business: Women, Work, and the Global Economy, held during the IMF/World Bank Spring Meetings. In this podcast, Oxfam International's Winnie Byanyima talks about the increasing statistical evidence that shows women's contributions to the global economy are invaluable. Contributors: Winnie Byanyima, Executive Director of Oxfam International

Monetary rivalry is a fact of life in the world economy, says Benjamin Cohen, professor of International Political Economy at the University of California and author of Currency Power: Understanding Monetary Rivalry. In this podcast, Cohen explains why currencies become internationalized, and examines the relationship between world currencies and State power. Contributors: Benjamin Cohen, Professor of International Political Economy at the University of California

South Africa faces significant challenges and needs decisive action to revive growth, the IMF said in its latest economic review. While the report acknowledges considerable economic and social progress, it shows income inequality and unemployment are unacceptably high. In this podcast, we speak with Laura Papi, IMF Mission Chief for South Africa. Contributors: Laura Papi, IMF Mission Chief for South Africa

Many of the world's bigger banks are reevaluating their relationships with banks in smaller riskier countries, making it harder for businesses and people to move money across borders. The process is commonly known as De-Risking. IMF Staff have recently published a research paper entitled The Withdrawal of Correspondent Banking Relationships. In this podcast, we speak with coauthor Yan Liu. Contributors: Yan Liu, Assistant General Counsel in the IMF's legal Department.

Europe is struggling to cope with millions of asylum seekers from conflict zones in the Middle East. In this podcast, Ian Bremmer, president of the global political risk research firm Eurasia Group, says the biggest challenges behind the refugee crisis are more political than economic. Bremmer participated in a seminar entitled Conflicts and the Refugee Crisis: An International Call for Action at the IMF-World Bank Spring Meetings in April. Contributors: Ian Bremmer, President and Founder of Eurasia Group, a global political risk research and consulting firm.