The Interconnected World is a film in four parts about the International Monetary Fund and the global economic crisis.
We need better multilateral governance. And if we don’t get it, our children and our grandchildren are going to pay the cost of that. — Mohamed El-Erian, CEO of PIMCO
The four videos discuss how the world economic order is being shaped by the global crisis, the rise of Asia and the implications for the rest of the world, how the discovery of oil is affecting a low-income country in Africa, and the transition of a country in Eastern Europe from communism to a market economy and membership of the European Union.
The IMF was established to foster economic stability and promote peace following the devastation of World War II. This global financial institution has been undergoing rapid change to meet the challenges of the 21st century, and played a vital role in helping countries deal with the international crisis.
From Crisis to Cooperation
We live in an increasingly globalized world. The economic and financial linkages which bind us together have brought substantial benefits to people around the world, but they have also had destabilizing effects.
In this film, we hear about the IMF and its role during the global economic crisis that brought the world economy to its knees. Concerted action by world leaders averted a second Great Depression, but what are the future prospects for multilateral cooperation?
Most people know the story of flight of the butterfly in Africa leading to a tornado in Latin America, and that's very much what this is about. — Olivier Blanchard, Chief Economist, IMF