Monthly Archives: April 2009

Recession is Now Tied for Longest Since the Great Depression

The Commerce Department this morning announced its advance estimate of last quarter’s real GDP. As expected, the estimate shows that GDP fell in the first quarter of 2009 — by a hefty 6.1 per cent at an annual rate. An … Continue reading

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Why the G-20 Summit in London April 2 Mattered

Most international summit meetings are long on photo-opportunities and short on substance.   There was a great danger that last Thursday’s G-20 meeting in London would be merit comparison to the failed World Economic Conference of 1933, which was also held in London.   This one, however, did have genuine substance.   
Nobody reads the communiques, or listens to […] Continue reading

Posted in Economic Development, Emerging markets, Financial Crisis, International Cooperation, International Monetary Fund | Tagged , , , , , | Leave a comment