IMF Weekend Read

 

Dear MARIA,   In today’s edition, we highlight: Gold’s lasting luster Bulgaria’s journey from hyperinflation to the euro Saudi Arabia’s path forward Podcast with Claudia Sahm on private data, official statistics 2025’s most-read F&D articles, blogs, and charts of the week GOLD Gold’s Lasting Luster For more than five millennia, humanity has been captivated by gold—the immutable metal that has illuminated temples, crowned emperors, and underpinned monetary systems, writes economics professor Pratik Ghansham Salvi, in an online exclusive for F&D magazine.   Across the centuries, gold has functioned as currency, ornament, reserve, and metaphor—embodying the human desire for permanence in a world of change, he writes.   “In an age of crypto assets, artificial intelligence, and central bank digital currencies, its persistence raises a question both ancient and modern: Why does gold still hold value?” Read the Article BULGARIA From Hyperinflation to the Euro Bulgaria joined the euro area on January 1, 2026. In an online exclusive for F&D magazine, Charles Enoch and Anne-Marie Gulde, who worked on Bulgaria’s stabilization efforts as IMF economists between 1996 and 2011, write about the country’s economic transformation since the 1990s.   While challenges remain, from population decline to the continued fight against corruption, Bulgarians have completed a remarkable journey from hyperinflation and economic chaos to the single currency, the authors write.   “When they see St. Ivan of Rila travel through Europe on the back of their €1 coins, Bulgarians can take pride in their achievement.” Read the Article COUNTRY FOCUS Saudi Arabia’s Path Forward The year 2026 will be pivotal for Saudi Arabia. The country is well placed to move beyond the favorable tailwinds of 2022–2024 into a more challenging environment characterized by lower oil prices and rising financing needs, write Amine Mati and Yuan “Monica” Gao Rollinson in an IMF Country Focus article.   At the same time, Saudi Arabia is strategically shifting some of its spending priorities, with some of its investment focus moving toward artificial intelligence and advanced technologies as part of its broader effort to diversify the economy, the authors explain.   “Looking ahead, Saudi Arabia faces a new test: how to sustain reform momentum in an era of potentially lower oil revenues without slipping back into the stop-and-go cycles that followed past oil booms.” Read the Article PODCAST Claudia Sahm on how Private Data can Augment Official Statistics While official statistics compiled by government agencies are still considered the most reliable, policymakers are increasingly using private data to get around their limitations. Claudia Sahm is a former principal economist at the Federal Reserve Board of Governors who has studied the growing role of alternative data in monetary policy. In this podcast, Sahm says the immediacy and granularity of private company data should serve as a complement to traditional data, not as a substitute.   Also read Sahm’s article for F&D magazine. Listen to the Podcast F&D MAGAZINE What Resonated with Readers Demographics, financial markets, economic reforms and political economy proved most popular with readers of F&D magazine in 2025.   The debate over falling fertility by David Bloom, Michael Kuhn and Klaus Prettner was our most-read article of 2025. The authors pointed to the ambiguous economic impact of smaller populations on the future of humanity.   The world of finance also attracted interest, with our readers curious about stablecoins, financial technology and emerging risks, as well as the complexities of bonds and yields.   Readers were heartened to hear that reform has turned Greece into one of Europe’s fastest-growing economies and wanted to know how Germany, the continent’s largest economy, can grow again.   Other articles that resonated included a profile of Agustín Carstens, Mexico’s former finance minister and central bank chief, along with opinion pieces calling for constraints on capitalism, not blind faith in it, and for economists to listen more to regain a policy role. Finance & Development Magazine IMF BLOG Top 10 Blogs of 2025 The profound shifts in the global economic landscape have been captured in the most-read blogs of 2025. This coverage has been led by IMF Chief Economist Pierre-Olivier Gourinchas, who unpacked key issues such as trade tensions and high uncertainty.   Similarly, topics directly related to economic and financial stability resonated most with readers. These included blogs on high public debtburdens, as well as explanatory pieces on how stablecoins can help improve global finance and how the IMF finances itself. Artificial intelligence and Asia-related topics remained popular, as they were in years past. Read the Blog CHART OF THE WEEK Top Five IMF Blog Charts of 2025 Our blog’s Chart of the Week series tracked how the global economy evolved in 2025, with the top five charts highlighting some of the key issues shaping economic and policy discussions.   They show economic sentiment enduring despite elevated uncertainty, even as public debt climbed at a faster pace across many of the world’s economies. Other charts highlight the growing demand AI places on our energy systems, as well as the widening gap between poorer countries, fragile states, and more advanced economies. The final figure shows foreign direct investment reaching a record, underscoring the scale of cross-border investment even amid a challenging global environment. Read the Blog 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