I am the First Deputy Managing Director of the International Monetary Fund (IMF). I oversee the work of staff, represent the Fund at multilateral forums, maintain high-level contacts with member governments and Board members, the media, and other institutions, lead the Fund’s work on surveillance and related policies, and oversee research and flagship publications. I previously served as the Chief Economist of the Fund from 2019-22. Prior to joining the IMF, I was the John Zwaanstra Professor of International Studies and of Economics at Harvard University’s economics department and before that I was an assistant professor of economics at the University of Chicago’s Booth School of Business. My research, which focuses on International Finance and Macroeconomics, is widely cited and has been published in many top economics journals. I have authored numerous research articles on exchange rates, trade and investment, international financial crises, monetary policy, debt, and emerging market crises. Positions: First Deputy Managing Director at International Monetary Fund (2022 - Present), Chief Economist at International Monetary Fund (2019 - 2022), John Zwaanstra Professor of International Studies and of Economics at Harvard University (2005 - 2022), Assistant Professor of Economics at The University of Chicago Booth School of Business (2001 - 2005) Skills: No skills available Recent Posts: Foreign direct investment reached a record $41 trillion in 2023, according to the IMF’s Coordinated Direct Investment Survey. Here are some highlights: 🇺🇸The US extended its lead as the top destination with $5.394 trillion. 🇳🇱🇨🇳🇱🇺🇬🇧The Netherlands, China, Luxembourg and the UK round out the top five. 🇮🇳🇲🇽🇧🇷India, Mexico, and Brazil each saw their inward direct investment positions rise by about 20%, marking the largest increase for these economies in total since our survey began in 2009. 👉🏼The IMF’s annual Coordinated Direct Investment Survey is the only worldwide source of bilateral FDI positions between economies. Read more here: https://lnkd.in/dXRkc6ma You can watch the full interview recorded at #WEF25 here: My takeaways from Tokyo… It was a pleasure to speak with Linda Lacina about the global outlook and share some thoughts on leadership at #WEF25 Such an honor to be included in this terrific group of women at Bloomberg’s Women Who Lead at #WEF25. Our new World Economic Outlook Update shows global growth holding steady at 3.3% in 2025-26, but with significant regional divergence. The euro area faces headwinds with growth revised down to 1.0%, while emerging markets show varied resilience. Trade policy uncertainty has increased sharply. Managing this while supporting disinflation and growth requires careful policy calibration. Read our analysis: https://lnkd.in/enpaqBVy How will AI affect Asia’s economies?   About half of all jobs in the region’s advanced economies are exposed to AI, compared to only about a quarter in emerging market and developing economies. The concentration of such jobs in Asia’s advanced economies could worsen inequality between countries over time. While about 40 percent of jobs in Singapore are rated as highly complementary to AI, the share is just 3 percent in Laos.   So, how could policymakers address the threat of worsening inequality?   Policymakers can counteract this with more effective social safety nets, reskilling programs, and regulations to promote ethical use of the technology.   Learn more in our latest IMF blog: https://lnkd.in/eRmuNX6n Reflecting on a busy and eventful 2024, I wanted to share my key takeaways from this year’s engagements and speeches. 𝟭. 𝗠𝗮𝗻𝗮𝗴𝗶𝗻𝗴 𝗚𝗹𝗼𝗯𝗮𝗹 𝗣𝘂𝗯𝗹𝗶𝗰 𝗗𝗲𝗯𝘁 𝗟𝗲𝘃𝗲𝗹𝘀 Global public debt has grown sizably over the last few years and is projected to approach 100% of GDP by the end of this decade. We need a strategic pivot in global fiscal policy – ensuring that governments will have the resources needed to invest in structural transformations, including climate change, and to fight the next crisis. Countries need a strategy that focuses on growth, that has effective guardrails to ensure compliance, and that builds in close engagement with all stakeholders including civil society to have the greatest chance at success. More here: https://lnkd.in/gw3uswMS   𝟮. 𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗙𝗿𝗮𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻, 𝗖𝗼𝗻𝗳𝗹𝗶𝗰𝘁, 𝗮𝗻𝗱 𝗟𝗮𝗿𝗴𝗲 𝗦𝗵𝗼𝗰𝗸𝘀 Russia’s invasion of Ukraine has had a profound impact. This conflict not only affected Ukraine and its neighbors but also reshaped the global economy. Increased fragmentation and higher defense spending are now realities we must navigate. Central banks need to adapt their strategies, and coordinated fiscal, financial, and structural policies are crucial to maintain macroeconomic stability in this more shock-prone environment. More here: https://lnkd.in/gm4yUHhq 𝟯. 𝗚𝗲𝗼𝗽𝗼𝗹𝗶𝘁𝗶𝗰𝘀 𝗮𝗻𝗱 𝗶𝘁𝘀 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗻 𝗚𝗹𝗼𝗯𝗮𝗹 𝗧𝗿𝗮𝗱𝗲 𝗮𝗻𝗱 𝘁𝗵𝗲 𝗗𝗼𝗹𝗹𝗮𝗿 The pandemic and geopolitical tensions have led countries to reassess their trading partners and economic strategies. There's a noticeable shift in foreign direct investment flows along geopolitical lines. These changes underscore the dynamic nature of global trade and the need for adaptable economic policies. More here: https://lnkd.in/g9cbVUjQ 𝟰. 𝗖𝗿𝗶𝘀𝗶𝘀 𝗔𝗺𝗽𝗹𝗶𝗳𝗶𝗲𝗿? 𝗛𝗼𝘄 𝘁𝗼 𝗣𝗿𝗲𝘃𝗲𝗻𝘁 𝗔𝗜 𝗳𝗿𝗼𝗺 𝗪𝗼𝗿𝘀𝗲𝗻𝗶𝗻𝗴 𝘁𝗵𝗲 𝗡𝗲𝘅𝘁 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗗𝗼𝘄𝗻𝘁𝘂𝗿𝗻 While AI can drive efficiency, it can also pose risks, especially during economic downturns. In the next downturn, AI could threaten a wider range of jobs than in past cycles. AI systems, trained on past data, may struggle with novel events, potentially exacerbating financial instability. To mitigate these risks, we must ensure tax systems do not favor automation over people, support workers affected by AI, and adopt measures to reduce financial and supply-chain amplification risks. More here: https://lnkd.in/gnM-XZtC   As we move into 2025, these challenges will remain top of mind as we work to foster a more resilient global economy. Wishing you all a prosperous and impactful new year! Cyber threats continue to confront our global financial system. Recent incidents have pointed to the importance of having effective plans for workarounds, communications, and crisis management. Maintaining strong cooperation between countries, authorities, and the public and private sectors will be crucial. Global private debt fell to 143% of GDP in 2023 (below 2019 level) driven by weakening economic prospects. Many firms & households are opting to pay down debt. Read more here: https://lnkd.in/ebM46PD2 To paraphrase the Nobel Laureate Robert Solow - we may end up seeing AI everywhere except in the productivity statistics. I enjoyed my conversation with David Weller & Alexander Pigman on "Measuring the implications of AI" at the IMF's Statistical Forum. Watch it here: https://lnkd.in/eQSaHiWx A great pleasure to meet President Biden who spoke about the importance of the G20 forum for global peace and prosperity. So nice when @POTUS himself clicks the selfie with you! I’m glad to be at the G20 Leader’s Summit in Rio de Janeiro. It was great to meet Prime Minister Narendra Modi who conveyed the many successes of India in reducing hunger and poverty. I enjoyed meeting President Emmanuel Macron and look forward to his interventions on reforming global governance institutions, sustainable development and energy transitions. Wrapped up a productive couple days in New York. I had some insightful discussions about financial markets, how investors see global growth and inflation. Until next time… Looking forward to this tomorrow What is behind Europe's productivity problem? A large productivity gap relative to the US in the tech sector & low business dynamism. Two factors driving this: smaller market size and lower access to finance relative to the US. The fix: Deepen the EU single market. Read more here: https://lnkd.in/emA6n9Vh Thank you President Biden for a warm celebration of Diwali at the White House - celebrating light over darkness and knowledge over ignorance. Happy Diwali! Tremendous way to close the meetings with this stellar group of speakers on ‘How Can We Re-Imagine the Multilateral Trade System?’ Ngozi Okonjo-Iweala, Raghuram Rajan, Maury Obstfeld, and Minouche Shafik https://lnkd.in/eTMF77bW Inflation has declined without a major hit to economic activity, thanks to the efforts of central banks that effectively anchored inflation expectations. However, in a shock-prone world, it's essential that they remain vigilant and adapt their frameworks as needed. My thoughts following a great panel with Bank of Chile Governor Rosanna Costa, LSE’s Ricardo Reis, and Banque de France Governor Francois Villeroy de Galhau – moderated by CNN’s Julia Chatterly. The use of electronic money has grown exponentially. Almost 2 billion users handle about 1.4 trillion dollars annually. E-money offers tremendous benefits, including financial inclusion, and faster and cheaper payments. But we need to address financial stability risks and protect users from potential losses.   The IMF helps authorities regulate and supervise e-money systems while fostering innovation, as we heard from the Governors of the Central Banks of Guatemala and Trinidad-and-Tobago at the Annual Meetings, in coordination with partner organizations. https://lnkd.in/e2fEV7wW Our new World Economic Outlook numbers are out. Growth is steady at 3.2 percent projected for 2024 and 2025. This shows a resilient global economy, yet reforms are needed to raise growth over the medium-term. 👩‍⚖️ Policymakers must continue to carefully ease monetary policy where inflation risks are declining. ⚙️ They should shift gears to start tightening fiscal policy now to reduce debt in a gradual and sustained way to avoid impeding growth.  📈 Policymakers need to secure broad support for carefully sequenced reforms that revive productivity and boost jobs and growth. Countries need pro-growth reforms but often this runs into social discontent. Our new research shows how to ensure social acceptability of reforms through communication, civic engagement & earning public's trust. More here: https://lnkd.in/eBXdNU7e This is a first: A former Chief Economist of the IMF wins the Nobel Prize in Economics @IMFNews . Congratulations Simon Johnson! . Governance and institutional reform are a central part of IMF's policy advice. https://lnkd.in/eUhyfYd8 Hello LinkedIn! I'm happy to join this platform and looking forward to engaging with this community.