Global and Regional Surveillance Reports (Package 3)

The Global Financial Stability Report (GSFR) provides an assessment of global financial markets and addresses emerging market financing in a global context. The discussion aims to deepen and update understanding of global capital flows as a critical engine of world economic growth. The GFSR focuses on relevant contemporary issues, not attempting to be a comprehensive survey of all potential risks. It also regularly includes special features on structural or systemic issues relevant to international financial stability. In the many countries that have already emerged to become major global players, the main priority has been to augment candid and focused macroeconomic analysis with enhanced surveillance of financial and capital markets. In this package, the GFSR is joined by five Regional Economic Outlook (REO) reports, covering Asia and Pacific, Europe, Middle East and Central Asia, Sub-Saharan Africa, and the Western Hemisphere. Each of the regional volumes discusses recent economic developments and prospects for the region as a whole, as well as for specific countries. The reports include key data for individual countries in the regions. Each report zeroes in on economic policy developments that have affected economic performance in the region and discusses key challenges faced by policymakers. The near-term outlook, key risks, and their related policy challenges are analyzed throughout, as well as in special chapters that look more closely at topics such as the evolving nature of capital inflows, housing market developments, the impact of commodity price booms on lower-income economies, or the prospects for sustainable growth in developed economies.