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Gita Gopinath , the first deputy managing director of the International Monetary Fund, delivered the 2022 Martin Feldstein Lecture, on “Managing a Turn in the Global Economy.” She described the policy challenges facing emerging markets, many of which have experienced rising debt-to-GDP ratios in the last decade, as global interest rates increase. She highlighted the need to integrate a range of policy instruments, including but not limited to the flexible exchange rates and domestic interest rates that are
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