To reduce the growing productivity gap vs. the US, we recommend strengthening the single market by advancing the EU Capital Market and Banking Union, removing trade barriers, tapping underutilized labor and enhancing mobility.

Read more here: shorturl.at/DaWcZ

In emerging and advanced Europe fiscal policy needs to adjust to rebuild buffers as long-term spending pressures soar.

We are at SGH w Warszawie today, discussing the future of Europe’s economy.

Recovery is firming up and disinflation continues, yet challenges remain. Monetary policy needs to ease at the right pace, fiscal adjustment should accelerate, and reforms are needed to boost productivity.

Like other advanced economies, a key challenge for the UK is stabilizing public debt while addressing pressing spending needs. Higher growth can alleviate this challenge and IMF staff recommends reforms in the areas of planning, skills, and healthcare. imf.org/en/News/Articl…

IMF staff has upgraded its 2024 forecast for the UK economy. With signs that growth is recovering faster than expected, 🇬🇧 is approaching a soft landing. Inflation has fallen, but services and wage inflation remain elevated and bear monitoring. imf.org/en/News/Articl…

About to start our seminar at SGH w Warszawie. We’ll have presentations from IMF’s Stephan Danninger and Polski Instytut Ekonomiczny’s Marek Wąsiński, followed by a panel discussion with Ministerstwo Finansów’s Jurand Drop and SGH’s Eliza Przeździecka.

You can watch it live here: shorturl.at/VqleK

Grateful to 🇬🇧 UK Chancellor Jeremy Hunt for the warm welcome to London today. I thanked him for Parliament’s approval to increase UK’s IMF quota subscription and commended the UK authorities for staying the course to maintain macroeconomic and financial stability in the UK.

Europe's economy is turning the corner. In this video, European Dept. Director Alfred Kammer explains what the region should do to ensure stronger economic growth.

Check out the latest Regional Economic Outlook for full projections: imf.org/en/Publication…

⏯ REPLAY

ICYMI: Watch the replay of the conversation between IMF European Department Director Alfred Kammer and Maria Tadeo, Maria Demertzis and European Central Bank’s Christiane Nickel on the right policy mix and what a “soft landing” means for Europe.

Watch here: bit.ly/3ywCOmO

Banka Slovenije and IMFinCEE, IMF Offices in Europe have organized the conference 'Financial systems in the CESEE region' with high-level speakers and panelists from IMF, OECD ➡️ Better Policies for Better Lives, The EBRD, European Investment Bank, EU Banking Authority - EBA 🇪🇺...
👉bsi.si/en/media/2175/…
📹 👉 youtube.com/watch?v=-RaS47…

Follow the international conference “Financial systems in the CESEE region” live.👉youtube.com/watch?v=-RaS47…

Session 2 starts at 11:30 and includes high-level speakers from IMFinCEE, IMF Offices in Europe, European Investment Bank, @ebrd, Erste Group IR, Wiener Börse AG and Ministrstvo za finance.

Capital markets can help CESEE corporate investment but they currently punch below their weight. There is a huge potential to grow the size of capital markets. Read the full speech here: bit.ly/3UCS1u8

CESEE banks will be important in strengthening corporate investment, but they need to address two major gaps:

- Lower lending, caused by limited collateral, lack of competition & conservative lending practices
- Low deposit levels, owing to a preference for cash holdings

CESEE’s income gap to the US is about capital and technology. CESEE needs a financial system that supports innovation and adaption for growth. Read the full speech here: bit.ly/3UCS1u8

Europe’s income levels remain well behind the US, especially in Central Eastern and South-Eastern Europe (CESEE).

EU and non-EU CESEE income per capita gap to the US amounts to 45 and 70 percent in 2023, respectively.

The financial sector could help close this gap.

Follow the international conference “Financial systems in the CESEE region” live.👉youtube.com/watch?v=-RaS47…

Session 1 starts at 9:30 and includes high-level speakers from IMFinCEE, IMF Offices in Europe, EU Banking Authority - EBA 🇪🇺, OECD ➡️ Better Policies for Better Lives and @hnb_hr.

Join us for the conference 'Financial systems in the CESEE region' with Hrvatska narodna banka, OeNB, Latvijas Banka Banka Slovenije governors, high-level speakers and panelists from EU Banking Authority - EBA 🇪🇺, The EBRD, European Investment Bank, OECD ➡️ Better Policies for Better Lives and more!

📅 Tomorrow, 9:00 AM CEST, Portorož
📺 bit.ly/3V4KSEt