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It details shifts in oil exporters’ surpluses versus other country groups’ deficits, highlights declining world trade growth, and discusses policy challenges for industrial nations, including stagflation and the need for coordinated international cooperation.",{"@graph":69,"@context":116},[70,84,99],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/prospects-for-the-world-economy-the-role-of-the-international-monetary-fund/443967/",{"url":83,"name":65,"@type":85,"author":86,"headline":65,"publisher":89,"fileFormat":92,"inLanguage":63,"description":67,"dateModified":93,"datePublished":93,"encodingFormat":92,"isAccessibleForFree":94,"interactionStatistic":95},"DigitalDocument",{"name":87,"@type":88},"Blitz","Person",{"url":74,"name":90,"@type":91},"DocShare","Organization","application/pdf","2026-09-29",true,{"@type":96,"interactionType":97,"userInteractionCount":4},"InteractionCounter",{"@type":98},"ViewAction",{"@type":100,"mainEntity":101},"FAQPage",[102,108,112],{"name":103,"@type":104,"acceptedAnswer":105},"What are the three key areas used to evaluate the world economic picture?","Question",{"text":106,"@type":107},"Inflation, growth, and the balance of payments on current account are identified as the three key areas.","Answer",{"name":109,"@type":104,"acceptedAnswer":110},"How did current-account positions change between 1978 and 1980 for major groups of countries?",{"text":111,"@type":107},"Oil exporters’ combined current-account surplus rose sharply, while industrial countries moved from a surplus to a deficit and non-oil developing countries’ deficit widened substantially.",{"name":113,"@type":104,"acceptedAnswer":114},"Why is stagflation highlighted as a major national policy challenge?",{"text":115,"@type":107},"Stagflation is described as a complex, deep-rooted problem reflected in historically high inflation and unemployment in major industrial countries.","https://schema.org",{"og:url":83,"og:type":118,"og:title":65,"og:site_name":90,"og:description":67},"article",{"robots":120,"canonical":83},"index,follow",{"doc_id":122,"site_id":62},443967,1790706245,{"code":4,"msg":5,"data":125},{"doc_id":122,"user_id":126,"nickname":87,"user_avatar":127,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":128,"file_id":129,"file_url":130,"file_type":131,"file_size":132,"view_count":4,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":44,"language":133,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":134,"faqs":135,"seo_title":136,"seo_description":67,"update_tm":123,"read_time":137},24464137899374,"https://us-avatar.wpscdn.com/davatar_3d24733baf745e90a7e4bdd5f77d97b2","Space ShuttleCOLUMBIAJohnYoung  \nCharles T.Manatt  \nChairmanDemocraticNational Committee  \nThe NewDemocratic Party  \nNoon,Friday  \nTerrace Room,  \nNoon,TuesdayGrand BallroomSheraton Palace Hotel  \nFairmont Hotel  \nAdvance Tickets-$14 for members;$15for guests.Mail check with self-addressed,stamped envelope to Com-monwealth Club,681 Market St.,S.F.94105,or call 362-4903 for reservations.All tickets must be purchasedby 5 p.m.Wednesday,May 20.Unpaid reservationswill be cancelled at that time.No refundsor cancellations after that date.A limitednumber of tickets will be available forpurchase at the door on a first come,firstserved basis.  \nThomas J.MellonQuarterly Chairman  \nMAY 26  \nMAY 29  \nThe Honorable  \nPete Wilson  \nMayorSan Diego,California  \nNoon,FridayRose RoomSheraton Palace Hotel  \nAdvance tickets $10.00 for members,$12.00 for guests.Given the expectedlarge turnout for this event,members arelimited to two guests.Mail check withself-addressed,stamped envelope to Com-monwealth Club of California,681Market St.,S.F.94105,or call (415)362-4903 for reservations.All tickets must bepurchased by 2 p.m.Friday,May 22.Unpaid reservations will be cancelled atthat time.No refunds or cancellationsafter that date.Thomas J.MellonQuarterly Chairman  \nAdvance tickets $10.00 for members,$11.00 for guests.Mail check with self-addressed,stamped envelope to Common-wealth Club of California,681 Market St.S.F.94105,or call(415)362-4903 for  \nreservations.All tickets must be pur-  \nchased by 5 p.m.Wednesday,May 27.  \nUnpaid reservations will be cancelled atthat time.No refunds or cancellations  \nafter thatdate.A limited number of  \ntickets will be available for purchase at  \nthe door on a first come,first served basis.  \nThomas J.Mellon  \nQuarterly Chairman  \nPhoto:Shirley Cohelan Burton  \nmmonureallh  \nPublication:ISSN 0010-3349)Published every Monday by theCommonwealth Club of California681 Market StreetSan Francisco,California 94105(415)362-4903  \nEditor:Donna M.Smith  \nOFFICERS OF THE CLUB  \nEugene M.Herson.    …PresidentRichard C.Dinkelspiel..Vice PresidentNelson S.Weller………ChairmanExecutive CommitteeCarol E.Wilder.      …SecretaryPeter Meeks……   ….TreasurerMichael J.Brassington.…ExecutiveDirectorJames LCoplan…  ……AssistantExecutive Director  \nGOVERNORS OF THE CLUB 1981  \nHon.Shirley T.Black,Ygnacio Bonillas.Richard R.Crass,Bradley B.Garretson,  \nE.Roxie Howlett,Lawrence W.Jordan,Jr.James L.McDonald,Leland S.Prussia,CarlE.Rosenfeld,Renee Rubin,William A.Seavey.Barton W.Shackelford,John R.Shuman,DavidVan Hoesen.  \nANNUAL DUES  \nResident:  \n30-65 years of age……          950  \nOver 65 years of age…   …    …$43  \nNon-Resident……     ……………$35Junior (under 30 years of age)………   …$35  \nFullTime Students (under 24 years ofage)…520  \nInitiation Fee:  \n30 Years of age oe older…    ………325Under 30 years of age…   …    …$15  \nSecond class postage paid at San Francisco.Califor-nia.Subscription rate $12.00 per yea:included in an-nual membership dues.  \nis being progressively affected by theslowdown of demand and economic ac-tivity in the industrial countries.  \n# \"Prospects for theWorld Economy:The Role of theInternationalMonetary Fund”\n\nThe combined current-account surplusof the oil exporting countries went upfrom $3 billion in 1978 to $112 billion in1980.At the same time,the currentaccount balances of the two other majorgroups of countries swung sharply inthe opposite direction.The industrialcountries moved from a surplus of $30billion in 1978 to a deficit of $46 billionin 1980,and the current account deficitof the non-oil developing countries,which was $38 billion in 1978,rose to$80 billion in 1980.  \nFriday Flashes-May 8,1981  \nThe combined current-account deficitof the non-oil developing countries isincreasing rapidly.This deficit may wellbe of the order of $100 billion by 1982.Itis one of the most worrisome features ofthe international economic situation.  \n# JACQUES DELAROSIEREManaging DirectorInternational Monetary Fund\n\nWeak World Economy  \nThe Wor","cbCaipwUU2cDDdfH","https://ap.wps.com/l/cbCaipwUU2cDDdfH","pdf",2954905,"English","# Prospects for the World Economy: The Role of the International Monetary Fund\n## Weak World Economy","[{\"question\":\"What are the three key areas used to evaluate the world economic picture?\",\"answer\":\"Inflation, growth, and the balance of payments on current account are identified as the three key areas.\"},{\"question\":\"How did current-account positions change between 1978 and 1980 for major groups of countries?\",\"answer\":\"Oil exporters’ combined current-account surplus rose sharply, while industrial countries moved from a surplus to a deficit and non-oil developing countries’ deficit widened substantially.\"},{\"question\":\"Why is stagflation highlighted as a major national policy challenge?\",\"answer\":\"Stagflation is described as a complex, deep-rooted problem reflected in historically high inflation and unemployment in major industrial countries.\"}]","Prospects for the World Economy - The Role of the International Monetary Fund | PDF",23]