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IMF Annual Report 2018 building a shared future

The global economic expansion we have seen over the past year has shown momentum, holding the promise of more jobs and improved living standards across most of our member countries. But there are threats, including from the risk of escalating trade conflicts, record high public and private debt, financial market volatility, and fragile geopolitics. In the face of these challenges, my message to the membership has been and still is: the time to fix the roof is when the sun is shining. The window of opportunity is currently open. To keep momentum going, countries need to tame financial and fiscal risks by enhancing financial sector resilience and rebuilding policy space—and also need to make progress on the structural reforms that will strengthen the economy against any future storms. They should promote an open and rules-based multilateral trade system and should strive to make new technologies work for all—boosting rather than undermining inclusive growth and financial stability. […]