- Key Issues
- Fiscal Issues at the IMF
IMF on Fiscal Challenges
On the Ground
This note discusses the specific macro-critical aspects of women’s participation in the labor market and the constraints that prevent women from developing their full economic potential.
The paper provides the most comprehensive survey of fiscal councils available so far. Existing studies have focused on selected country cases, while a systematic empirical analysis of fiscal councils’ effectiveness and its determinants is at the core of the present paper.
This supplement presents case studies of seven fiscal councils and examines how each council performs its core functions and if and how it impacts on the fiscal policy debate.
This paper investigates how developments during and after the 2008–09 crisis have changed economists’ and policymakers’ views on: (i) fiscal risks and fiscal sustainability; (ii) the effectiveness of fiscal policy as a countercyclical tool; (iii) the appropriate design of fiscal adjustment programs; and (iv) the role of fiscal institutions.
This note sets out a work plan on international taxation that focuses on macro-relevant spillovers, exploits the Fund’s comparative advantages, and complements the work of other institutions, notably the OECD.
This paper quantifies the inefficiency of public health expenditure and the associated potential gains for emerging and developing economies using a stochastic frontier model that controls for the socioeconomic determinants of health, and provides country-specific estimates.
This paper reconsiders the effects of fiscal policy on long-term interest rates employing a Factor Augmented Panel (FAP) to control for the presence of common unobservable factors.
This paper studies the effects of public expenditure reallocations on long-run growth.
This study deals with the reforms undertaken by the tax administrations of 19 Francophone countries of sub-Saharan Africa with the support of the IMF’s Fiscal Affairs Department (FAD) since 1995.
Need to Know
This report constitutes a pilot of a new IMF instrument for evaluating countries’ fiscal transparency practices based on a revised draft of the IMF’s Fiscal Transparency Code (FTC).
Distributional Consequences of Fiscal Consolidation and the Role of Fiscal Policy: What Do the Data Say?
The 2007-09 Great Recession has led to an unprecedented increase in public debt in many countries, triggering substantial fiscal adjustments.
Tax Coordination, Tax Competition, and Revenue Mobilization in the West African Economic and Monetary Union
We review the current state of the West African Economic and Monetary Union’s tax coordination framework, against the main objectives of the WAEMU Treaty of 1994: reduce distortions to intra-community trade, and mobilize domestic tax revenue.
What People Are Saying
Many countries seek to protect poorer households by subsidizing the consumption of fuel products. However, recent IMF research shows that fuel subsidies are both inefficient and inequitable, including in India.
The 2008–09 global economic crisis pushed public debt ratios of advanced economies to levels never seen before during peacetime.
Let’s face it. Everybody loves cheap energy. Almost all human activities require energy consumption and, if something is so basic, it seems pretty obvious that it should not be denied to anyone and government should make it as cheap as possible to both households and companies, including through subsidies.
Public financial management (PFM)—the fine art of budgeting, spending, and managing public monies—has seen an influx of innovations and reforms over the last two decades. This book poses critical questions about these reforms, which include fiscal rules, fiscal responsibility legislation, medium-term budget frameworks, fiscal councils, performance budgeting, and accrual accounting.
A new book—The Economics of Public Health Care Reform in Advanced and Emerging Economies—focuses on the outlook for public health expenditures in the next 20–40 years and the options for health care reform in both advanced and emerging economies, drawing on lessons from across the globe
At the fiscal forefront
- Energy Subsidy Reform: Lesson and Implications
- Public Financial Management and Its Emerging Architecture
- Fiscal Forum: The Evolving Role of Fiscal Policy
- Rethinking Macro Policy: First Steps and Early Lessons
- Fiscal Adjustment in an Uncertain World
- Interview with Carlo Cottarelli
- Partnerships for Change: Timor-Leste (October 10, 2012)
- The Economics of Public Health Care Reform in Advanced and Emerging Economies
- Africa Develops: IMF Technical Assistance in Mali (English and French)
- Africa Rebuilds: IMF Technical Assistance in Liberia