The World Economic Outlook is the product of a unique international exercise in information gathering and analysis performed by IMF staff to guide key initiatives and to serve IMF member countries. Published at least twice a year in English, French, Spanish, and Arabic, the World Economic Outlook offers a comprehensive picture of the international economic situation and prospects for the future. With its analyses backed by the expertise and resources of over 1,100 IMF economists, the World Economic Outlook is the authoritative reference in its field. Today, even small economic fluctuations can trigger major financial swings. It's vital to have the latest perspective on what's happening and where it could lead in the coming months and years. The World Economic Outlook brings you that perspective, giving you analyses, forecasts, and figures you'll use all year long.
Notwithstanding higher oil prices and natural disasters, global growth has continued to exceed expectations, aided by benign financial market conditions and continued accommodative macroeconomic policies. Looking forward, the baseline forecast is for continued strong growth, although—as illustrated in Figure 1.1— risks remain slanted to the downside, the more so since key vulnerabilities—notably the global imbalances— continue to increase. With the risks associated with inaction rising with time, the principal challenge for global policymakers is to take advantage of the unusually favorable conjuncture to address these vulnerabilities. In particular, an orderly resolution of global imbalances will require measures to facilitate a rebalancing of demand across countries and a realignment of exchange rates over the medium term, with the U.S. dollar needing to depreciate significantly from current levels, and currencies in surplus countries— including in parts of Asia and among oil producers— to appreciate.
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