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Nicolas Véron discusses the IMF, World Bank semi-annual meetings held this week in Washington. In this interview, he explains the IMF’s main focus on the US’s tightening of monetary conditions on emerging markets: “Investors are very concerned about this, but the IMF insists that emerging markets are very diverse. The fund is pushing investors to look at the fundamentals, to differentiate between countries. The question however is: will investors in capital markets reason that way or will they have herd behaviour, as it has happened in the past?”

Other main issues Véron tackles are the ECB’s monetary policy, and whether it will go into quantitative easing, as well as inequality, and the IMF’s advice to pursue structural reforms.