Fiscal Policies


Fiscal policy affects macroeconomic stability, growth, and income distribution. Citizens expect their governments to ensure value-for-money for public spending, a fair and efficient tax system, and transparent and accountable management of public sector resources.

The IMF has been a leading source of fiscal policy and management expertise worldwide. The IMF monitors and analyzes global fiscal trends and advises IMF member countries on fiscal issues directly. This page highlights the main fiscal policy issues currently under discussion, as well as provides links to research, publications, and commentary.

Fiscal Monitor October 2023: Climate Crossroads Fiscal Policies in a Warming World (

Chapter 1: Fiscal Policies in a Warming World

Chapter 1 of the October 2023 Fiscal Monitor discusses the appropriate mix of fiscal policies to address climate change to contain the rise in temperatures.


How to Ease Rising External Debt-Service Pressures in Low-Income Countries
January 24, 2024

Debt servicing costs are increasing rapidly while annual refinancing needs have tripled to about $60 billion

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Countries Must Contain Global Warming While Keeping Debt in Check
October 2, 2023

Managing the climate transition calls for a fiscal balancing act with the right mix of policies.

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Countries Can Tap Tax Potential to Finance Development Goals
September 19, 2023

Emerging market and low-income economies have a significant untapped tax potential of 8 percent to 9 percent of GDP

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Global Debt Is Returning to its Rising Trend
September 13, 2023

Although global debt recorded another significant decline in 2022, it is still high, with debt sustainability remaining a concern

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Market Reforms Can Stabilize Debt and Foster Growth in Developing Countries
September 12, 2023

Countries that enacted reforms saw their debt-to-GDP ratios fall by 3 percentage points, on average, over a multi-year period

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Harnessing GovTech to Tax Smarter and Spend Smarter
September 7, 2023

Digitalization, done right, can equip governments to improve revenue collection and spending efficiency.

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Related Videos

Fiscal Forum: Improving Tax Capacity in Developing Countries
October 16, 2023

This panel explores the broad agenda for strengthening domestic revenue mobilization in developing countries to help attain the Sustainable Development Goals.

Press Briefing: IMF Fiscal Monitor
October 11, 2023

The report takes stock of mitigation policies across countries and presents the trilemma facing policymakers of balancing between achieving climate goals, debt sustainability, and political feasibility. (Wednesday, October 11, 2023)

What is public debt?
December 12, 2022

Our latest Back to Basics video explains what is public debt and the risks and benefits involved when governments borrow.

Eighth Richard Goode Lecture: Innovation, Experimentation, and Economics
November 22, 2022

The theme of this year’s Richard Goode Lecture is “Innovation, Experimentation, and Economics” presented by Professor Michael Kremer.

Macro-Fiscal Implications of Climate Change in CAPDR
November 11, 2022

Climate change is taking its toll on the world. For decades, CAPDR countries have felt the full force of these events with limited resources and capacity. Is resiliency the answer to protecting the region?

Policy Conference on Managing Financial Risk: Lessons from the crisis response to COVID-19
October 16, 2022

Watch the 2nd session of the IMF-UTokyo CARF Policy Conference "Managing Financial Risks in a Shock Prone World".