Fiscal Policies

Overview

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 2024: Fiscal Policy in the Great Election Year

Chapter 1: Fiscal Policy in the Great Election Year

Chapter 1 of the Fiscal Monitor   the chapter highlights heightened risks to public finances given potential distortions from a record number of elections this year in the context of elevated public debt, still-high interest rates, and slowing growth prospects. Decisive fiscal consolidation efforts are needed to safeguard sustainable finances, while protecting the most vulnerable.

Blogs

Political Parties of all Stripes are Pushing for Higher Government Spending
September 16, 2024

Large fiscal deficits and elevated debt levels call for greater fiscal prudence, but political forces are pulling in the opposite way

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Now Is the Time to Help Countries Faced with Liquidity Challenges
August 1, 2024

With elevated debt service squeezing the space available to finance much needed investment in many countries, urgent action is needed to boost fiscal space, maintain adequate international support, and reduce debt servicing costs.

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Sovereign Debt Restructuring Process Is Improving Amid Cooperation and Reform
June 26, 2024

Agreements taking shape at a faster pace are reducing uncertainty for countries and investors.

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Why Our World Needs Fiscal Restraint in Biggest-Ever Election Year
April 17, 2024

Governments should stay the course on fiscal consolidation amid mounting debt.

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Hidden Debt Hurts Economies. Better Disclosure Laws Can Help Ease the Pain.
April 2, 2024

Domestic laws need updating to ensure that public obligations are transparent

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The Fiscal and Financial Risks of a High-Debt, Slow-Growth World
March 28, 2024

Higher long-term real interest rates, lower growth, and higher debt will put pressure on medium-term fiscal trends and financial stability

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Publications

Related Videos

Broadening the Gains from GenAI: The Role of Fiscal Policies
June 17, 2024

First Deputy Managing Director Gita Gopinath joined Washington Post's Heather Long for a fireside chat about fiscal policies in the age of AI | Monday, June 17, 9:00 AM ET

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)

Fiscal Forum: Improving Tax Capacity in Developing Countries
December 12, 2022

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

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".