Where Do We Go From Here?
Looking Ahead
Carlo Cottarelli and José
Viñals
Although it is still too
early for governments to
retreat from policies that
fight the biggest financial
crisis since the 1930s,
countries must begin now to
devise economic strategies
to accompany recovery when
that takes hold.
Anticipating the Next Crisis
Atish R. Ghosh, Jonathan D.
Ostry, and Natalia Tamirisa
The global financial turmoil
has rekindled the interest
of both policymakers and the
general public in early
warning systems that could
anticipate financial crises.
But what alarms can such
systems realistically sound?
How would they work? And
would they be effective?
Also In This Issue
Dial Growth
Olivier Lambert and
Elizabeth Littlefield
Across the developing world,
the falling costs, ease of
use, and ever-expanding
reach of mobile telephones
are enabling countries to
bypass what was once an
unavoidable stage of
development: the
establishment of a national
mail service and of
land-based
telecommunications.
Delivering on Change
Edward Gemayel and Samar
Maziad
The IMF has undertaken an
unprecedented reform of its
policies toward low-income
countries, culminating in
the announcement of
significant new resources
underpinned by new lending
instruments.
Departments
People in Economics
Picture This
The Three-Hundred-Year Low
André Meier and Simon
Willson
The current global recession
has led the U.K. central
bank to lower its base rate
to virtually zero—the lowest
rate since 1694.
Back to Basics
Book Reviews
Money, Finance and Political Economy: Getting It Right, Deena Khatkhate