The paper looks at feasible concrete action that can be taken by correspondent and respondent banks, money transfer operators, the Pacific authorities, the Australian and New Zealand authorities, and international organizations.
Provides readers with key insights into how to view unprecedented global imbalances, respond to capital account crises caused by abrupt shifts in global asset allocations, and evaluate the opportunities for all member countries, especially low-income countries, to grow.
Demonstrates that the global upswing in economic activity is strengthening, and that global growth, which in 2016 was the weakest since the global financial crisis at 3.2 percent, is projected to rise to 3.7 percent in 2018. The growth forecast for 2018 is 0.1 percentage point stronger compared with projections earlier this year.