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.
Ghana: Make or Break
Ghana is in sight of an ambitious milestone—becoming a middle-income country by 2020. If used strategically, the 2007 discovery of sizable offshore oil reserves could be the catalyst to propel Ghana’s economy toward that major achievement. Experts agree that achieving middle-income status within ten years is technically feasible, but a great deal of discipline and determination will be required by both Ghana’s government and its people.
The film discusses how Ghana has been managing its economy, why it needed a loan from the IMF, and what it will take to make the most of the oil discovery.
We look at oil as a second opportunity being given to this country. — Fiifi Kwetey, Finance Minister of Ghana