IMF – “As the global environment turns less supportive and productivity gains of the last decade fade, growth in emerging markets will have to come from new engines, supported by a new wave of structural reforms, a new IMF study says. Emerging Markets in Transition: Growth Prospects and Challenges sheds light on the factors behind last decade’s strong performance in emerging economies and how the ongoing global transitions will affect their prospects going forward. It builds on the April 2014 World Economic Outlook that looked at the role of external and domestic drivers of growth in emerging economies and the discussions that took place during last fall’s conference on the same topic. The study observes that, despite the changing external environment, sustained growth in these countries is still possible. But emerging markets need to maintain sound domestic policies, place renewed emphasis on structural reforms, and strive to increase productivity. “Rebounding from the current slowdown and reclaiming the higher growth of the last decade will not be easy,” the authors note. “Early and decisive commitment to tailored reforms will have significant benefits over the longer term.”