After a decade of growth, African countries are facing a more challenging outlook, notably with commodity prices on the way down and interest rates on the way up. But our latest African Economic Outlook shows that growth is picking up, at 3.4% in 2017, up from 2.2% in 2016.
I am delighted to launch the Programme for International Student Assessment (PISA) 2015 Results: Students’ Financial Literacy. We are honoured to be joined by Her Majesty Queen Máxima of the Netherlands ─ a global champion of financial literacy.
Growth seems to be slowly picking up. This is good news. But we are still facing a vicious circle of low productivity growth, sluggish demand, stagnant wages and, in many G7 countries, rising or high levels of inequalities.
The expansion of Digital Financial Services (DFS) - such as mobile and online financial services, electronic money, as well as branchless banking – is a major global phenomenon and is particularly widespread in the developing world. Digital Financial Services are currently available to over 60% of the world’s population, particularly in the form of mobile money.
Good morning everyone. It is a pleasure for me to be here today to launch the 2016 OECD Pensions Outlook. I’m glad to see great friends and experts on one of the defining issues of our era. Good to see Phyllis Borzi and Ambrogio Rinaldi with us today.
It’s a great pleasure to open this seminar today on “Investing for the future in today's global markets”. First of all, let me welcome Siv Jensen, Norway’s Minister of Finance, and Yngve Slyngstad, the Executive Director of Norges Bank Investment Management.
It is my great pleasure to launch this second edition of the OECD Business and Finance Outlook, along with the first edition of an accompanying Business and Finance Scoreboard, which has a wealth of statistical information relating to the Outlook.
Financial literacy is an essential life skill. From the cost of education to healthcare, people are confronted with complex, difficult financial decisions: how much and how to borrow, how to save and invest, or which kind of insurance to buy. To address these challenges, we all need to develop the skills to be financially resilient.
It is crucial that G20 countries collectively strive to resist financial protectionism and to keep financial markets open. Worryingly, OECD data suggest a sustained rise in capital flows measures since 2008, across emerging markets as well as some advanced economies.
We actually need to balance two objectives. On the one hand, we should collectively strive to keep financial markets open. On the other hand, governments need an actionable toolbox of policy instruments to deal with capital flow volatility.