Mark Sobel on new IMF proposals, Herbert Poenisch on China’s secretive lending, and more
25-29 March 2019 Vol.10 Ed.13
COMMENTARY
IMF enhancing efforts in Latin America
While the world focuses on the US and China, Brexit, G3 monetary policy and Europe’s doldrums, little attention is being paid to economic and financial developments in Latin America. Yet, change is afoot.
The International Monetary Fund is stepping up activities in the region, writes Mark Sobel.
PODCAST
Effects of shadow banking
Peter Andrews, senior adviser at Oxera and former chief economist at the Financial Conduct Authority, joins Ellie Groves, programmes manager at OMFIF. They discuss the risks and opportunities as shadow banking becomes a more established feature of the global financial sector.
MEETING
Analysing Mexico’s economic outlook
With a change of government in Mexico, questions are being raised about the country’s financial stability.
This roundtable will assess how the outlook for Mexico has changed, the monetary policy implications of the government’s reform packages, and wider issues on the Banco de México’s agenda.
REPORT 
UK and Germany: ‘Relations refocused’
A focus on bilateral relations after Brexit will allow Germany and the UK to share expertise, deepen bonds and provide leadership in international forums, according to an OMFIF report published with the British embassy in Berlin. The two sides can extend co-operation across 10 economic areas.
COMMENTARY 
China’s secretive lending to Africa
China is secretive about its loans to Ethiopian Airlines, but there are indications they are substantial. This includes financing of the carrier’s new terminal at Addis Ababa airport.
As part of China’s ‘going global’ strategy, Ethiopia plays an important role as a transport hub in Africa, writes Herbert Poenisch.
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NEWS
Normalisation ‘a marathon, not a sprint’
Philadelphia Fed President Patrick Harker, speaking at an OMFIF City Lecture in London, said that US monetary policy normalisation ‘is a marathon, not a sprint. Even if economic and financial conditions evolve as anticipated, the composition of the balance sheet will not see any drastic change in the near future.’
MEETING
Brexit and Asia
OMFIF and the British Chamber of Commerce in Singapore convene a panel of high-level speakers to discuss the implications of Brexit for Singaporean and Asian stakeholders, from the decisions of private business attempting to mitigate risk, to the effect on existing and future trading relationships.
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COMMENTARY
US proposal may address IMF resources
The US is proposing to double the IMF’s ‘New Arrangements to Borrow’. For Christine Lagarde, this would alleviate immediate threats to the Fund’s resource base.
It would also avoid a possibly nasty debate about changes to the emerging markets’ voting power in the IMF, writes Mark Sobel.
MEETING
US and Europe: Overcoming barriers
As developments in Europe progress rapidly, with challenges to the integrity of the European Union from Brexit and euro area divergence, this roundtable will assess the landscape for foreign investors.
There are many opportunities for US investors arising in European economies looking ahead to 2019-20.
PODCAST
Impact of automation on the labour market
Daron Acemoglu, professor of economics at the Massachusetts Institute of Technology, and Georgios Petropoulos, research fellow at Bruegel, join OMFIF’s Danae Kyriakopoulou. They discuss the impact of shifts in technology on labour markets, and whether ultimately these will be negative or positive.
