Economics

Ask CFR Experts

Is IMF policy to blame for the prolonged eurozone economic crisis?

Asked by Maxwell Fenton, from Dowling Catholic High School

The International Monetary Fund (IMF) is, with the European Commission and the European Central Bank, part of the so-called troika responsible for setting the conditions that the Greek government must meet to secure continued official financial support. Greece is the eurozone's largest IMF program beneficiary, with about €28 billion in outstanding loans from the IMF.

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Primary Sources

U.S. Bureau of Economic Analysis: U.S. International Trade in Goods and Services, June 2013

The U.S. Bureau of Economic Analysis released this report on August 6, 2013, which showed that between June 2012 and June 2013, "exports were up $6.0 billion, or 3.2 percent, and imports were down $2.3 billion, or 1.0 percent." The International Trade Administration's corresponding fact sheet highlights data on trade relationships with Trans-Pacific Partnership countries for the same time period.

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Op-Ed

Bangladesh’s Lessons for Enlightened Corporate Interest

Authors: Mark P. Lagon and Andrew Reddie
Georgetown Journal of International Affairs
Reflecting upon the Rana Plaza factory collapse in Bangladesh, Ambassador Mark Lagon and Andrew Reddie suggest that it is in the interest of corporations to protect their employees' safety, rights, and freedom rather than being beholden only to their share price.

See more in Bangladesh; Business and Foreign Policy; Corporate Governance

Must Read

Financial Times: Eurozone Calm Belies Brewing Political Storm

Author: Peter Spiegel

"Ever since its start, the existential threat to the single currency has mainly come from two separate but related scenarios: a massive bank run by depositors convinced their euros were about to be turned back into drachmas, escudos or pesetas; or Italy losing access to the bond market, making it unable to refinance its massive €2tn debt pile."

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Other Report Author: Thomas Hilliard

There has never been greater urgency for expanding and improving U.S. workforce training programs. In this Working Paper, Thomas Hilliard argues that the federal government should corral the country's siloed and disjointed workforce-development programs in line with a common national strategy.

See more in United States; Labor