The recovery is having a profound effect on the labour market: around 6.4 million jobs have been created since 2013. - Added strong downward pressures on financing costs Rates have fallen steeply across asset classes, maturities and countries, as well as across different categories of borrowers.
First, emerging markets’ development requires strong macro-policies and a consistent integration strategy to the world economy. In this regard, the valuable IMF’s Integrated Policy Framework could be useful not only to expand the instrument toolkit to face international capital flows and other shocks, but also to develop a “policy roadmap” to stay the course towards a stronger, deeper, and long-lasting trade and financial integration.