May 15, 2020
The International Monetary Fund projects a significant contraction in all parts of the world as a result of the Covid-19 crisis. Lockdown measures and uncertainty about the return to work, as well as what a ‘new normal’ would look like, are having a serious impact on how to forecast future growth. Gian Maria Milesi-Ferretti, deputy director in the IMF’s research department, discusses the baseline scenario in the World Economic Outlook, and the potential ways forward for the global economy in 2020-21.
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May 14, 2020
Before the pandemic, the inherent imbalances which had built up after a decade of monetary policy intervention had resulted in excess debt and probable future instability. Bill White, former chairman of the economic and development review committee of the Organisation for Economic Co-operation and Development, joins Mark Burgess, Asia chairman of OMFIF. They discuss what the Covid-19 outbreak means for policy-makers, emerging market debt prior to the crisis, and shadow banking.
May 12, 2020
Part two of the OMFIF/EY Covid response series
What are the consequences of addressing the consequences? In this edition, OMFIF's John Orchard and EY's David Barker discuss the shock-and-awe measures by governments to rescue their economies from the Covid-19 crisis and the short- and medium-term implications for their finance ministries. What are the paths out of the emergency schemes? How are governments planning to restart their economies and what will it mean for their finances, and their financial sectors? How is this crisis fundamentally reordering their priorities in both developed and emerging economies?
May 7, 2020
How are commercial banks coping with Covid-19? Obliged to implement government-guaranteed lending quickly while also handling other crisis-related operational and commercial challenges, they have their work cut out. What has worked well and what has not, yet? How are the opposing needs of speed and prudence reconciled? How are banks preparing for impairments to their loan books? What does the crisis mean for their digital transformations? And is this the opportunity to restore the reputational damage of 10 years ago? OMFIF Chief Executive Officer John Orchard discusses these themes with Jan Bellens, global sector leader, banking & capital markets at EY.
Download the written conversation: https://www.omfif.org/wp-content/uploads/2020/05/Transcript-EY-Jan-Bellens-JO-vers.docx
April 30, 2020
In 2018, the Bank of England produced a research report with the UK's Behavioural Insight Team titled, 'Enhancing central bank communications using simple and relatable information'. The report looked into how usual modes of communication can be adapted to increase the broader public's understanding of central banks' policies.
David Bholat, senior manager, advanced analytics and co-author of the Bank's report, and Chris Peacock, head of content creation at the Bank of England, join OMFIF's Helen Gibson to discuss the report and its findings, before looking at how the BoE is using more simplified language to educate the public and increase their engagement with, and understanding of the Bank's policies.
April 28, 2020
As the Covid-19 crisis upends the global economy, the outlook for 2020 has changed profoundly. Borrowing costs have increased significantly and global financial flows have been severely disrupted. The International Monetary Fund and other institutions have responded swiftly by implementing emergency measures and adjusting their assessments. Fabio Natalucci, deputy director of the monetary and capital markets department at the IMF, joins Mark Sobel, US chairman of OMFIF to discuss the Fund’s Global Financial Stability Report and its outlook for the global economy.