World Economic and Financial Surveys, World Economic Outlook: Globalization and Inequality, International Monetary Fund (IMF), October 2007.

The World Economic Outlook (WEO) presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries.

It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. It is usually prepared twice a year, as documentation for meetings of the International Monetary and Financial Committee, and forms the main instrument of the IMF's global surveillance activities.

Download World Economic Outlook 2007, IMF

PDF format, 5.5MB, 275Pages.

Executive Summary:

The global economy grew strongly in the first half of 2007, although turbulence in fi nancial markets has clouded prospects. While the 2007 forecast has been little affected, the baseline projection for 2008 global growth has been reduced by almost ½ percentage point relative to the July 2007 World Economic Outlook Update. This would still leave global growth at a solid 4¾ percent, supported by generally sound fundamentals and strong momentum in emerging market economies. Risks to the outlook, however, are fi rmly on the downside, centered around the concern that fi nancial market strains could deepen and trigger a more pronounced global slowdown. Thus, the immediate focus of policymakers is to restore more normal fi nancial market conditions and safeguard the expansion. Additional risks to the outlook include potential infl ation pressures, volatile oil markets, and the impact on emerging markets of strong foreign exchange infl ows.

At the same time, longer-term issues such as population aging, increasing resistance to globalization, and global warming are a source of concern.

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