The IMF in its latest Global Financial Stability Report has categorised the following countries as EMEs: Latin America – Argentina, Brazil, Chile Colombia, Mexico, Peru, Venezuela; Asia – China, India, South Korea, Indonesia, Malaysia, Pakistan, the Philippines, Taiwan Province of China and Thailand; Europe, Middle East and Africa – Czech Republic, Egypt, Hungary, Israel, Jordon, Morocco, Poland, Russia, South Africa and Turkey.
Select economic indicators of select EMEs are furnished in the Annex. 1/6  any unpredictable unwinding of global imbalances, it is proposed to analyse the possible implications, illustratively, with reference to India  Recent macroeconomic developments in India There are several noteworthy features of India’s recent macroeconomic performance. First, the investment climate has improved and industrial and service sector activity has picked up.