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Tuesday, April 16

16th Apr - Special: IMF World Economic Outlook

IMF published the latest World Economic Outlook and the real surprise is the blunt advice to Europe: massive monetary easing and fiscal union are needed.

Previously on MoreLiver’s:

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World Economic Outlook (WEO): Hopes, Realities, and Risks IMF

World Economic Outlook Database IMF

Transcript of WEO Press Conference IMF
Video of the press conference IMF

Fiscal Monitor: Fiscal Adjustment in an Uncertain World, April 2013 IMF
Video of the press conference IMF

IMF trims global growth forecast, sees bumpy recovery Reuters
World growth of 3.3 pct in 2013, down two-tenths * Warns against fatigue in battling European debt crisis * Japan economy to expand with new monetary steps * first Fed rate increase in 2016 * Emerging economies picking up steam again

IMF Cuts Global Growth Outlook as Europe Demand UrgedBB
IMF trimmed its global growth forecast and urged European policy makers to use “aggressive” monetary policy as a second year of contraction leaves the euro area’s recovery lagging behind the rest of the world.


New IMF growth forecasts: EU revised downward, once againBruegel
Once again, euro-area’s outlook has been revised downward, but this is not the case for the USA and Japan:

How the IMF became the friend who wants us to work less and drink moreWonkblog / WP
Something strange has changed in the world economy, which is evident in the Fund’s latest edition of the World Economic Outlook. The IMF is now among the strongest voices against excessive fiscal austerity and tight money.

The Fiscal Milestone: Achievements, Fatigue, and ProspectsiMFdirect
This year we see the process of gradual fiscal adjustment reaching two symbolic milestones. First, the average deficit of advanced economies as a share of GDP will fall to half of its 2009 level at the peak of the crisis. Second, the average debt ratio will stop rising, after increasing steadily since 2007. Indeed, it will actually decline slightly.

The World’s Three-Speed Economic RecoveryiMFdirect
Emerging market and developing economies are still going strong, but in advanced economies, there appears to be a growing bifurcation between the United States on the one hand, and the Euro area on the other (also a podcast).

IMF Slashes World GDP Expectations; Japan Only Beacon Of Global Growth HopeZH

The Most Disturbing Chart From Today's IMF Outlook RevisionZH

IMF: mixed outlook for Europe - more ECB action and a fiscal unionOpen Europe

IMF Renews Push Against AusterityWSJ


The changing nature of inflationalphaville / FT
Some very interesting observations about the changing nature and growing stability of inflation.

Exiting unconventional policy will be unconventionalalphaville / FT
A section dealing with the risks to central banks from exiting unconventional monetary policy:

How to Sustain Recent Financial Gains: Fix Old Risks and Meet New ChallengesiMFdirect