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Discussion Paper
India and the Global Economy
With a population of 1.4 billion, India is the world's most populous country. It is also now the world's fastest growing economy and is currently the 5th largest economy measured at current exchange rates, poised to overtake Japan and Germany in coming years (Figure 1). Yet its share in the world economy is nowhere near its 20 percent share of the world's population.
Discussion Paper
How Well-Anchored are Long-term Inflation Expectations in Latin America?
In the late 1990s and early 2000s, Brazil, Chile, Colombia, Mexico, and Peru (hereafter referred to as the Latin 5) adopted inflation targeting frameworks as their monetary policy strategy, allowing greater exchange rate variability than in the past. By taking this step, policy makers aimed to put an end to a historical record of high and variable inflation.