{
  "title": "Fiscal Monitor, April 2016: Acting Now, Acting Together",
  "publication": "Fiscal Monitor, April 13, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/fm/issues/2016/12/31/acting-now-acting-together-43655",
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  "summary": "The global economy remains fragile at this time. While the recovery in advanced economies is softening, many emerging market and developing economies have experienced a significant economic slowdown, and some large countries show signs of distress.",
  "sections": [
    {
      "heading": "Global outlook and key findings",
      "content": "- The global economy remains fragile.\n- The recovery in advanced economies is softening.\n- Many emerging market and developing economies have experienced a significant economic slowdown.\n- Some large countries show signs of distress.\n- Global risk aversion has risen.\n- Commodity prices have continued to fall since the April 2015 Fiscal Monitor.\n- The weaker outlook and concerns about the ability of policymakers to provide an adequate and swift policy response have amplified downward risks and clouded global prospects.\n- The challenging environment calls for a comprehensive policy response to boost growth and reduce vulnerabilities.\n- It is critical to identify policies that could lift productivity growth by promoting innovation."
    },
    {
      "heading": "Fiscal policy, innovation, and channels of impact",
      "content": "- Fiscal policy can play an important role in stimulating innovation.\n- Key channels through which fiscal policy affects innovation:\n  - Research and development.\n  - Entrepreneurship.\n  - Technology transfer."
    },
    {
      "heading": "Subject areas and keywords covered",
      "content": "- Subjects: Emerging and frontier financial markets, Financial markets, Fiscal policy, Fiscal risks, Fiscal stance, Macroeconomic and fiscal forecasts, Public debt, Public financial management (PFM), Tax incentives, Taxes.\n- Keywords: Africa, Asia and Pacific, commodity exporter, country abbreviation, def, Emerging and frontier financial markets, Europe, fiscal policy, Fiscal risks, Fiscal stance, FM, Global, imputed interest, Macroeconomic and fiscal forecasts, Middle East, middle-income economy, North Africa, potential GDP, rate of return, statistics manual, Tax incentives, tax treatment.\n\n---\n\n Content in this bundle\n\n- Acting Now, Acting Together, Fiscal Monitor, April 2016\n  - Acting Now, Acting Together, Fiscal Monitor, April 2016 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Acting Now, Acting Together, Fiscal Monitor, April 2016 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- https://www.imf.org/en/publications/fm\n- United States and the IMF\n- Link to Table of Contents\n- Explore\n- Subscribe\n- More Formats on IMF eLibrary\n- Order a Print Copy\n- Emerging and frontier financial markets\n- Financial markets\n- Fiscal policy\n- Fiscal risks\n- Fiscal stance\n- Macroeconomic and fiscal forecasts\n- Public debt\n- Public financial management (PFM)\n- Tax incentives\n- Taxes\n- Enhancing Tax Capacity: Revenue Gains from Strengthening Tax Administration\nOctober 24, 2025\n- Development Committee: The Managing Director's Written Statement\nOctober 20, 2025\n- The Managing Director's Global Policy Agenda, Fall 2025: Navigating a World In Transition\nOctober 16, 2025\n- Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF\nOctober 16, 2025\n- https://www.imf.org/en/home\n\nSource: https://www.imf.org/en/publications/fm/issues/2016/12/31/acting-now-acting-together-43655"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/fm/issues/2016/12/31/acting-now-acting-together-43655/index.md)",
    "[Structured JSON version](/en/publications/fm/issues/2016/12/31/acting-now-acting-together-43655/index.json)",
    "[Bundle manifest](/en/publications/fm/issues/2016/12/31/acting-now-acting-together-43655/bundle-manifest.json)",
    "Published: April 13, 2016",
    "Series: Fiscal Monitor",
    "DOI: https://doi.org/10.5089/9781513510590.089",
    "The global economy remains fragile.",
    "The recovery in advanced economies is softening.",
    "Many emerging market and developing economies have experienced a significant economic slowdown.",
    "Some large countries show signs of distress.",
    "Global risk aversion has risen.",
    "Commodity prices have continued to fall since the April 2015 Fiscal Monitor.",
    "The weaker outlook and concerns about the ability of policymakers to provide an adequate and swift policy response have amplified downward risks and clouded global prospects.",
    "The challenging environment calls for a comprehensive policy response to boost growth and reduce vulnerabilities.",
    "It is critical to identify policies that could lift productivity growth by promoting innovation.",
    "Fiscal policy can play an important role in stimulating innovation.",
    "Key channels through which fiscal policy affects innovation:",
    "Subjects: Emerging and frontier financial markets, Financial markets, Fiscal policy, Fiscal risks, Fiscal stance, Macroeconomic and fiscal forecasts, Public debt, Public financial management (PFM), Tax incentives, Taxes.",
    "Keywords: Africa, Asia and Pacific, commodity exporter, country abbreviation, def, Emerging and frontier financial markets, Europe, fiscal policy, Fiscal risks, Fiscal stance, FM, Global, imputed interest, Macroeconomic and fiscal forecasts, Middle East, middle-income economy, North Africa, potential GDP, rate of return, statistics manual, Tax incentives, tax treatment.",
    "**Acting Now, Acting Together, Fiscal Monitor, April 2016**",
    "[https://www.imf.org/en/publications/fm](https://www.imf.org/en/publications/fm)",
    "[United States and the IMF](http://www.imf.org/external/country/USA/index.htm)",
    "[Link to Table of Contents](http://www.imf.org/external/pubs/ft/fm/2016/01/fmindex.htm)",
    "[Explore](https://www.elibrary.imf.org/)",
    "[Subscribe](https://www.imf.org/en/Publications/Newsletter/registration)",
    "[More Formats on IMF eLibrary](https://elibrary.imf.org/display/book/9781513510590/9781513510590.xml?cid=lk-com-dsp-imf.org)",
    "[Order a Print Copy](https://www.bookstore.imf.org/cart?isbn=9781513510590)",
    "[Emerging and frontier financial markets](https://www.imf.org/en/publications/publications-by-subject?subject=Emerging+and+frontier+financial+markets)",
    "[Financial markets](https://www.imf.org/en/publications/publications-by-subject?subject=Financial+markets)",
    "[Fiscal policy](https://www.imf.org/en/publications/publications-by-subject?subject=Fiscal+policy)",
    "[Fiscal risks](https://www.imf.org/en/publications/publications-by-subject?subject=Fiscal+risks)",
    "[Fiscal stance](https://www.imf.org/en/publications/publications-by-subject?subject=Fiscal+stance)",
    "[Macroeconomic and fiscal forecasts](https://www.imf.org/en/publications/publications-by-subject?subject=Macroeconomic+and+fiscal+forecasts)",
    "[Public debt](https://www.imf.org/en/publications/publications-by-subject?subject=Public+debt)",
    "[Public financial management (PFM)](https://www.imf.org/en/publications/publications-by-subject?subject=Public+financial+management+%28PFM%29)",
    "[Tax incentives](https://www.imf.org/en/publications/publications-by-subject?subject=Tax+incentives)",
    "[Taxes](https://www.imf.org/en/publications/publications-by-subject?subject=Taxes)",
    "[Enhancing Tax Capacity: Revenue Gains from Strengthening Tax Administration",
    "[Development Committee: The Managing Director's Written Statement",
    "[The Managing Director's Global Policy Agenda, Fall 2025: Navigating a World In Transition",
    "[Progress Report to the IMFC on the Activities of the Independent Evaluation Office of the IMF"
  ],
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