Fiscal Risks : Sources, Disclosure, and Management

Author/Editor:

Lusine Lusinyan ; Aliona Cebotari ; Ricardo Velloso ; Jeffrey M. Davis ; Amine Mati ; Murray Petrie ; Paolo Mauro

Publication Date:

January 29, 2009

Electronic Access:

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Disclaimer: The views expressed herein are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

This paper analyzes the main sources of fiscal risks, including from unexpected changes in macroeconomic variables and banking crises, which can have major consequences for countries fiscal and public debt sustainability. It builds on an overview of existing practices in a wide range of countries to provide practical suggestions on how to promote disclosure of such risks and on risk mitigation and management. The paper was written in response to requests from IMF member countries for advice on this subject. The paper also includes an example of a possible statement of fiscal risks.

Series:

Departmental Paper No. 09/01

Subject:

English

Publication Date:

January 29, 2009

ISBN/ISSN:

9781589067905/

Stock No:

FRSDEA

Format:

Paper

Pages:

60

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