The World Economic Outlook offers a comprehensive assessment of the international economic situation as well as prospects for the future. The five chapters look at: global perspectives and policy issues; country and regional perspectives; Asia, patterns of economic development and growth; the effect of financial systems on economic cycles; and whether the boom in commodity prices can last. In addition there is a statistical appendix the presents historical data as well as projections.

Dated September 1999


This interim update from the IMF provides a preliminary assessment of the global economic outlook and policies following September 11th terrorist attacks. Based on information IMF staff gathered through detailed consultation with member countries, the survery springs from a comprehensive inter-departmental review of world economic development and pulls together the expertise of a wide range of contributors.

Since the May outlook, prospects for 2001-02 have weakened further, and have been exacerbated by the 11 September terrorist attack in the United States. Growth projections for nearly all areas have reduced reflecting a variety of factors: delayed recovery in the USA; weakening domestic demand growth and confidence in Europe; slower growth in Japan as it presses ahead with structural reforms; the continued decline in information technology spending, which affects Asia in particular; deteriorating financing conditions for emerging markets, especially in Latin America. GDP growth is now slowing in all regions,accompanied by a sharp decline in trade growth. The recent terrorist attack has increased uncertainty, and the danger of a deeper and more prolonged slowdown remains. In addition to the review of prospects and policies, this report examines international linkages, financial integration and developing countries, and the information technology revolution.

This is the third in the series of quarterly assessments of global financial markets (which replaces two IMF publications: the annual International Capital Markets Report and the quarterly Emerging Market Financing). The report is part of a broad effort by the IMF to strengthen bilateral and multilateral surveillance of international financial markets, with a view to promoting global financial stability. Issues considered in this edition include: developments and sources of risk in the major financial centres; emerging market developments and financing; and emerging local bond markets.

This publication presents the IMF analysis and projections for global economic developments and policy issues in major country groups and in many individual countries. This issue contains an analysis of the current global economic slowdown in the context of past recessions, and concludes that it has much more in common with past downturns than is commonly recognised. Overall, it finds that there are increasing signs that the global slowdown has now bottomed out. This issue also includes three essays on: why many Latin American countries have had a disproportionate number of debt crises; consumer spending in industrial countries during the 1990's and the impact of increased household wealth; and the monetary policy challenges in an era of low inflation.

The World Economic Outlook, published twice a year in English, French, Spanish, and Arabic, presents IMF staff economists' analyses of global economic developments during the near and medium term. Chapters give an overview as well as more detailed analysis of the world economy; consider issues affecting industrial countries, developing countries, and economies in transition to market; and address topics of pressing current interest. Annexes, boxes, charts, and an extensive statistical appendix augment the text.

Dated December 1997. On cover: Crisis in Asia: regional and global implications

This report provides an updated assessment of movements of official financing for developing countries during 1997-99. Financial flows were considerably affected by the Asian crisis and net dispersals from multilateral institutions increased from $14 billion in 1996 to $47 billion in 1998 before declining to $6 billion in 1999.

Dated May 1998. On cover: Financial crises: causes and indicators