Samantha St. Amand
The rampant growth experienced by many emerging economies in previous decades has slowed down across the board. Some countries are managing the downturn well, while others seem to be skidding.
The G-20 must now coordinate policy actions to address its longer-term goals, rather than only responding to short-term emergencies and volatility. The legacy of the Australian G-20 presidency might be the revival of a more pragmatic, effective and forward-looking forum.
The ECB has been slow in responding to the financial crisis that has persisted for years. Its most recent policy package is an important step in accommodating the eventual economic recovery in the eurozone.
The latest IMF ministerial meeting drew attention to various pitfalls in the current recovery. One of the more worrisome was persistently low inflation in developed economies and a slowdown in growth in the emerging countries.