This contextual update shows that central banks continue to be relevant and essential for sound functioning of economies. Central banks require to pursue traditional functions relating to currency and payment systems and to being banker to the government and to banks as vigorously as before the crisis.
Assesses the global prospects for economic growth in the face of policy challenges that remain unaddressed and new challenges now coming to the fore. The recovery is gaining strength, but unemployment remains high in advanced economies, and new macroeconomic risks are building in emerging market economies.
The recovery from the Great Recession is proceeding broadly as expected, but most advanced economies and a few emerging economies still face large adjustments, are recovering only sluggishly, and have continued high unemployment. By contrast, many emerging and developing economies are again seeing strong ...
