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.
Poland: Prudence and Prosperity
Poland is the only country in the European Union to have avoided recession in 2009. Its limited reliance on exports, coupled with a strong banking system and sound public finances protected the country from the effects of the global economic crisis.
This film takes you through Poland's journey from communism to a market economy and the challenges it faced along the way. By adopting sound economic policies, Poland is now moving ahead to becoming what some call a potential “economic powerhouse” of Europe.
One thing we have really learned from the Polish experience is that if the policymakers have the courage to take action in a most difficult situation, they can achieve remarkable things. — Mark Allen, IMF Senior Resident Representative in Warsaw