October 2013
Summary:
US Fed delays the tapering of the QE programme, providing a temporary relief for emerging markets
Chinese economy strengthens
Current-account deficits widen in several emerging economies
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Contrary to expectations, the United States Federal Reserve (Fed) announced no changes in its monetary policy stance at the Federal Open Market Committee (FOMC) meeting on 17-18 September, maintaining the federal funds rate near zero and keeping the size of its monthly purchases of?long-term assets at $85 billion. Three major factors may explain why the Fed?decided to delay tapering the purchase of assets. First, recent data did not?confirm a sufficiently strong economic…
Monthly Briefing on the World Economic Situation and Prospects, No. 59
South Africa: A slight uptick in growth in the second quarter
World Economic Situation and Prospects Weekly Highlight No. 31
WESP Weekly Highlight No. 31
September 2013
Summary:
BRICS?establish?anti-crisis?facility
Western?Europe?exits?recession
Growth?in?emerging?markets?remains?uneven amid?structural?issues?and?tightening?external?financing?conditions
During the G20 summit, the countries of the BRICS group (Brazil, the?Russian Federation, India, China and South Africa) agreed to establish a?contingent reserve arrangement by pooling resources in a $100 billion fund.?China will contribute $41 billion, South Africa will contribute $5 billion, and?the three other members will provide $18 billion each. This is a precautionary facility to help shield these emerging economies from stock market and?exchange-rate volatility as the advanced…
Monthly Briefing on the World Economic Situation and Prospects, No. 58
August 2013
Summary:
Emerging economies enact?policy measures to forestall?slowing growth
US GDP statistics revised
Drought conditions affect?Southern Africa
A number of indicators point to slowing growth in emerging economies, partly due to?protracted weak external demand from developed countries, but also due to domestic?factors. Differing in their policy space, as well as policy intention, a number of major
emerging economies have taken steps to deal with the slowdown. While the efforts are?not nearly as extensive as those undertaken during the eruption of the financial crisis,?they still demonstrate the necessity of supporting growth. These measures have also come
into effect at the…
Monthly Briefing on the World Economic Situation and Prospects, No. 57
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