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Over the past few decades, economic activity and total employment grew in tandem, with economic activity expanding slightly faster. This trend has led to steady growth in labour productivity (see Figure 1) [1] as more goods could be produced per worker on average.
The 9th High-level Regional Financing Arrangements (RFAs) Dialogue was held on 23 October 2024 in Washington DC
On 27 November, the ESM is organising a policy conference "Strategic Autonomy – A European Public Good".
Featuring speakers from the ESM, European Commission, ECB, EIB, IMF, and academic institutions, the conference will focus on the policy mix needed to effectively balance the existing trade-offs in addressing Europe's long-term structural challenges while mitigating debt sustainability risks.
The 9th High-level Regional Financing Arrangements (RFAs) Dialogue was held on 23 October 2024 in Washington DC at a time when the global economic outlook is improving but remains weak amid a complex geoeconomic environment and elevated policy uncertainty. The heightened volatility observed in global financial markets over the summer reaffirmed the importance of having a strong Global Financial Safety Net, including effective collaboration between the International Monetary Fund (IMF) and RFAs, to safeguard against external risks.
The result of the auction of 15 October 2024 for the 6-months Bills of the ESM was as follows:
Total Bids € 2,771.00 mn
Competitive bids € 1,042.00 mn
Non-competitive bids € 1,729.00 mn
Allotment / Issue volume € 1,031.99 mn