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: Putting a Lid on Public Debt

Chapter 1: Putting a Lid on Public Debt

Chapter 1 of the Fiscal Monitor   The chapter quantifies the risks surrounding public debt outlook and sets out policies to rebuild fiscal buffers to address those risks.

Blogs

Persistent Fall in Private Borrowing Brings Global Debt Down
December 2, 2024

Empirical analysis points to low growth prospects as the main driver of this trend in 2023.

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How High Economic Uncertainty May Threaten Global Financial Stability
October 15, 2024

Unknowns raise risk of financial market volatility and a sharp decline in economic growth

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Global Public Debt Is Probably Worse Than it Looks
October 15, 2024

Elevated risks to public debt call for enduring and carefully designed fiscal adjustments

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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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Publications

Related Videos

Press Briefing: Fiscal Monitor, October 2024
October 23, 2024

Global public debt is elevated. It is projected to exceed US$100 trillion in 2024 and will rise over the medium term. This chapter shows that risks to the debt outlook are heavily tilted to the upside.

Fiscal Monitor, October 2024: Key Questions
October 23, 2024

Director of the IMF's Fiscal Affairs Department, Vítor Gaspar, answers key questions on the latest Fiscal Monitor. How fast are global debt levels rising, what challenges do policymakers face, and what’s our advice?

Measuring the Implications of AI on the Economy
September 20, 2024

The theme of this year’s Statistical Forum is Measuring the Implications of Artificial Intelligence (AI) on the Economy. The increased use of AI presents both opportunities and challenges, with significant economic and societal implications.

The Great Tightening: Insights from the Recent Inflation Episode
October 22, 2024

Global inflation has tripled since pre-pandemic levels, challenging policymakers. Our analysis shows the ripple effects of monetary policy remain largely consistent with historical patterns, despite the unique nature of recent economic shocks.

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

Policy Conference on Managing Financial Risk: Lessons from the crisis response to COVID-19
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.