The views expressed in IMF working papers are those of the authors and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. Summary: South Asia needs significant infrastructure investment to achieve its development goals, and public investment can also support Covid. Advances in artificial intelligence and automation have the potential to save labor and increase global inequality and poverty. They also give rise to a “winner-takes-all” dynamic that benefits highly skilled individuals and countries at the forefront of technological progress. We analyze the economic forces behind it. The IMF's statutes list six objectives intended to guide the institution "in all its policies and decisions." include the promotion of international monetary cooperation “through a, ~ The International Monetary Fund, IMF, strives to achieve sustainable growth and prosperity for all member countries. It does this by supporting economic policies that promote financial stability and monetary cooperation, which are essential for increasing productivity, job creation and economic well-being. The IMF is governed by this book's most previously published essays on Fischer's substantive concerns and judgments during his tenure as the first deputy managing director of the International Monetary Fund. Each comes with an introduction that sets the context and is updated as necessary. The very well-argued essays, except one, The world economy has also become much more integrated, thanks to financial globalization. This has had many beneficial effects. This gave savers around the world a wider choice of investments. This allowed borrowers to access a much wider savings market and thus reduced their cost of capital. This article examines the benefits and challenges of implementing a rules-based fiscal accountability framework, using the Philippines as a case study. It estimates structural measures of fiscal stance over the period - applies a stochastic simulation model to determine the optimal set of fiscal rules. Empirical analysis. The views expressed in IMF working papers are those of the authors and do not necessarily represent the views of the IMF, its Executive Board, or IMF management. Summary: Many Caribbean financial systems are relatively well developed for their size, but the benefits are concentrated in a small portion of the population.