IMF-ΔΙΕΘΝΕΣ ΝΟΜΙΣΜΑΤΙΚΟ ΤΑΜΕΙΟ,update

 

Dear MARIA,   In today's edition, we highlight: Making Labor Markets Work for Workers and Businesses Bulgaria’s Eurozone Accession How Can Europe Pay for Things it Cannot Afford? Country Focus: Belize Invests in Infrastructure Podcast: Kenneth Rogoff on Dollar Dominance Chart of the Week: The Demographic Divide FISCAL AFFAIRS Making Labor Markets Work for Workers and Businesses INSEAD's Professor Alexandra Roulet delivered the Eleventh Annual Richard Goode Lecture on how labor market policies can balance workers’ protection with business profitability. She drew on evidence from country case studies, like France, which implemented a reform to reduce the standard full-time workweek from 39 to 35 hours. She highlighted that while this reform brought productivity gains, it also led to undesirable changes in employment patterns, such as the shift to part-time jobs.   Roulet also presented recent evidence showing that firms adopting AI technologies can simultaneously increase both employment and sales. However, she noted that the impact of AI on labor demand depends on how the technology used. AI had a positive effect on employment when it was used for security or information and communications technology, but it had a negative effect when used for administrative processes.  Watch the Lecture EUROPE Bulgaria’s Eurozone Accession (Credit: IMF Photo) Entry into the euro area will go down in history as a key milestone for Bulgaria, ranking alongside its EU accession in 2007, said Kristalina Georgieva in a speech in her native Bulgaria. The IMF's Managing Director emphasized that euro adoption is not the end of Bulgaria’s journey—it’s the start of a new chapter.   "The task now is to take euro adoption, pair it with good policies, and catapult convergence to the next level. At a very minimum, let Bulgaria aspire for sustained higher growth levels to reach per capita income equal to the EU average within the next decade," she highlighted.  Read the Speech EUROPE How can Europe Pay for Things it Cannot Afford? (Credit: Francois de Ribaucourt) Europe’s fiscal challenge will become even more pressing and "doing nothing is not an option," said Alfred Kammer, director of the IMF's European department, at a speech at the House of the Euro in Brussels.    Kammer emphasized that "there are no silver bullets," and for most countries, the policy package will be a mix of reforms and consolidation. He also noted that the purpose of the reform process will have to be well communicated, with dialogue between relevant stakeholders, to highlight the economic and social benefits.  Read the Speech COUNTRY FOCUS Belize Invests in Infrastructure to Boost Growth Potential Belize’s economy is highly reliant on tourism, which directly contributes about 12 percent of gross domestic product (GDP). Last year, the country received over half a million “stayover” tourists (those who stay in hotels, as opposed to cruise ships visitors), 18 percent more than in 2023 and growing faster than more famous Caribbean destinations.     But infrastructure bottlenecks restrict the future growth of the tourism industry. To unlock its full potential, Belize seeks to boost investment in infrastructure to address tourism capacity constraints, expand financing to the private sector, and create more opportunities for its labor force. Closing a 25-point gap between male and female participation in the labor force could boost GDP by over 20 percent in the long run. Read More PODCAST Kenneth Rogoff on Dollar Dominance While the US dollar has been at the top of its game for decades, new players are testing its reign. Chess grandmaster-turned-economist Kenneth Rogoff has long cautioned about the risks of high deficits and debt burdens and their potential impact on the world’s favorite reserve currency. In his latest book, Our Dollar, Your Problem, he says its share of global reserves may be on the decline. Professor Rogoff is currently the Maurits C. Boas Chair of International Economics at Harvard.  Listen to the Podcast MARK YOUR CALENDAR NOVEMBER 19-20, 2025    13th IMF Statistical Forum: Measuring Cross-Border Economic and Financial Linkages in a Dynamic World   The two-day forum will feature discussions on cutting-edge measurement issues to support effective, evidence-based policy decisions. Speakers include IMF Deputy Managing Director Nigel Clarke and Chief Statistician Bert Kroese, as well as Nobel laureate Professor Simon Johnson, Dr. Catherine L Mann. Find the full agenda and RSVP here. The Demographic Divide The world confronts a great demographic divide. Many countries are grappling with aging and shrinking populations, while in parts of Africa, the Middle East and Central Asia, population growth is surging, as is their youthful workforce.  LEARN MORE Thank you very much for your interest in the Weekend Read! Be sure to let us know what issues and trends we should have on our radar.  Noha Elbadawy  Editor | IMF Weekend Read   nelbadawy@IMF.org Stay connected with the International Monetary Fund:       This email was sent to politikimx@gmail.com on behalf of: International Monetary Fund 1900 Pennsylvania Ave NW · Washington, DC · 20431