Operational Guidance Note for IMF Engagement on Social Spending Issues
Policy Papers, April 30, 2024
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- Operational Guidance Note for IMF Engagement on Social Spending Issues
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Bibliographic details
- Published: April 30, 2024
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9798400272271.007
Overview and Purpose
- Provides general guidance on the operationalization of the strategy for IMF engagement on social spending.
- Builds on a series of notes on IMF engagement on specific social spending issues since the publication of the 2019 strategy paper.
- Provides operational guidance on when and how to engage on social spending issues in the contexts of:
- surveillance,
- IMF-supported programs,
- capacity development.
Role and Functions of Social Spending (Findings)
- Social spending is a key lever for promoting inclusive growth.
- Addresses inequality and protects vulnerable groups during structural change and adjustment.
- Smooths consumption over the lifecycle.
- Stabilizes demand during economic shocks.
- Plays an important role in tackling structural challenges associated with:
- demographic shifts,
- gender inequality,
- technological advances,
- climate change.
Operational Focus Areas (Guidance Themes)
- When to engage: criteria and timing for IMF engagement on social spending issues (as applied across surveillance, programs, and capacity development).
- How to engage: modalities and approaches tailored to surveillance, IMF-supported programs, and capacity development.
- Emphasis on integrating social spending analysis into broader fiscal and macroeconomic assessments.
Subject Areas and Keywords
- Subject: Education, Education spending, Expenditure, Health care spending, Monetary policy, Political economy
- Keywords: education, Education spending, fiscal sustainability, health, Health care spending, IMF capacity development, pensions, social safety nets, social spending, social spending conditionality, social spending floor, spending adequacy, spending efficiency, spending issue, Sub-Saharan Africa, transparency policy, West Africa
Content in this bundle
- Policy Paper