Chart of the Week: Growth and Inequality

The challenge here is to combine growth with equity. Growth without Equity = widening social cleavage!

iMFdirect - The IMF Blog

By iMFdirect

Versions in Français (French), and Español (Spanish)

In the past two decades, low-income economies have seen a rise in growth, with fewer living in poverty. Yet inequality in many countries has remained virtually unchanged.

A recent IMF paper explains how the design of policies can matter to spread the economic benefits of growth more broadly.

View original post 119 more words

Chart of the Week: Access to Banking Services

Makes a case for more MFIs in developing economies!

iMFdirect - The IMF Blog

By iMFdirect

Did you know that while many people in advanced economies have multiple bank accounts, there are barely two bank accounts for every ten people in low-income economies? Access to financial services is essential to spread the fruits of economic growth to all, not just to the fortunate few. 

View original post 45 more words

Lest we Tolerate Intolerance

A sticky subject gets a balanced search light! well, almost.

Anabagail

In the medieval times, it was a crime to translate the Bible into the languages that could be read and understood by common people. People who tried to defy these laws were captured, charged with heresy and sometimes burned at the stake. If you are one of the more liberal minded albeit religious persons today, you will frown and condemn such acts of intolerance in the dark ages. Back then, you could have been burned for daring to speak up.

In Nazi Germany, simply being a Jew meant you would be targeted. You might end up being burnt in the gas chambers or if you are more fortunate or less depending on which you would prefer, you sent off to a death camp inGermany, Austria or Poland due tothis accident of nature. Thefight against this intolerance led to WWII.

The problems in Nigeria can be traced to intolerance evidenced…

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When are we going to see again

by

 

Noel Ihebuzor

 

Wen are we going to see
she asked, her dreamy voice
dripping with desire
and he replied
his voice sober and still
When the sea sings
and seals swim rapids
in slow sweet sync
when the slowest miler
becomes the sweetest smiler
and the time keeper
beckons on Air clad snails
to breast the tape
for the diner of the famished to commence
Yes, when the sea ceases
her never ending swim
in circles of seamless curves
after mermaids hang their laundry on ropes in the sky
And the sky empties its
voice into the willing  sea
We shall see, and sing and swim

Helping Feed the World’s Fast-Growing Population

Towards food security and sufficiency!

iMFdirect - The IMF Blog

rabah-arezki-imfBy Rabah Arezki

Agriculture and food markets are plagued with inefficiencies that have dramatic consequences for the welfare of the world’s most vulnerable populations. Globally, farm subsidies amount to over $560 billion a year—equivalent to nearly four times the aid given to developing countries by richer ones. Major emerging-market nations have increased subsidies rapidly, even as rich nations cut theirs drastically. Meanwhile, tariffs on farm products remain a major point of contention in global trade talks.

One third of global food production goes to waste, while food insecurity is still rampant in developing countries. Even with the explosion of agricultural productivity since the middle of the 20th century, food security remains a challenge for much of the developing world. Food-calorie production will have to expand by 70 percent by 2050 to keep up with a global population that’s forecast to grow to 9.7 billion from last year’s 7.3 billion…

View original post 697 more words

The Fruits of Growth: Economic Reforms and Lower Inequality

Inclusive growth, Yes! But have policies that do better targeting and BIA! A worthy read.

iMFdirect - The IMF Blog

Lagarde.2015MDPORTRAIT4_114x128By Christine Lagarde

Versions in: عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Português (Portuguese), and Русский (Russian)

Growth is essential for improving the lives of people in low-income countries, and it should benefit all parts of society.

Traveling through Africa in the last few days, I have been amazed by the vitality I have witnessed: business startups investing in the future, new infrastructure under construction, and a growing middle class. Many Africans are now making a better living and fewer are suffering from poverty. My current host, Uganda, for example, has more than halved its absolute poverty rate to about 35 percent from close to 90 percent in 1990.

But we have also seen a flip side. Poverty, of course, but inequality as well remain stubbornly high in most developing countries, including in Africa, and too often success is not shared by all. 

View original post 706 more words

Tackling Inequality in sub-Saharan Africa Could Yield Mileage on Growth

Useful Read.

iMFdirect - The IMF Blog

Antoinette Sayehby Antoinette Sayeh

(Versions in Français and Português)

Rising inequality is both a moral and economic issue that has implications for the general health of the global economy, and impacts prosperity and growth.

So it’s not surprising that reducing inequality is an integral part of the Sustainable Development Goals  adopted by world leaders at the United Nations summit in September. I often discuss with my colleagues where sub-Saharan Africa stands with respect to these objectives. Unfortunately, the region remains one of the most unequal in the world, on par with Latin America (see Chart 1). In fact, inequality seems markedly higher at all levels of income in the region than elsewhere (see Chart 2).

View original post 763 more words


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