Fiscal Frameworks

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Fiscal Frameworks (FF)

This course, presented by the Institute for Capacity Development, starts by reviewing the objectives of both government and fiscal policy; introducing tools and methodologies to analyze, monitor, and improve fiscal policy. The course teaches how to obtain high-quality information, and how to improve transparency and responsibility to hold governments accountable for their medium- to long-term fiscal objectives. The course concludes with thematic presentations by participants.

Target Audience

Junior to mid-level government officials in ministries of economy, planning, and finance, treasuries, central banks, independent fiscal agencies, and other agencies involved in the analysis, design, conduct, and assessment of fiscal policy.

Qualifications

Participants are expected to have a degree in economics or finance or equivalent work experience, good quantitative skills, and proficiency in the use of computers to analyze data. It is strongly recommended that applicants have completed the Financial Programming and Policies (FPP) and the Fiscal Policy Analysis (FPA) course before enrolling in this course. Familiarity with Microsoft Excel is essential as many workshops are conducted in Excel.

Course Objectives

Upon completion of this course, participants should be able to:

Describe the debate on the proper role of government and fiscal policy.
Use data to assess national fiscal policy.
Design fiscal rules for specific national problems.
Monitor fiscal performance.
Contribute to building a medium-term budget (for consolidation or stimulus) while limiting recession risks and respecting sustainability.

Syllabus

This course starts with essential concepts to measure and analyze fiscal policy consistency and effectiveness, then moves to the study of fiscal frameworks as best practices devised to foster fiscal discipline (including fiscal rules and fiscal councils to promote transparency and accountability). Discipline in fiscal policy is essential to achieve macroeconomic stability and minimize the risk of unsustainable dynamics that hamper long-term adequate and inclusive growth.

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