Statement by the Managing Director on the Independent Evaluation Office Report on IMF Advice on Fiscal Policy Executive Board Meeting December 4, 2025
December 16, 2025
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The Managing Director welcomes the Independent Evaluation Office’s assessment of IMF fiscal policy advice over the past 15 years. The evaluation highlights the Fund’s evolution from a narrow focus on debt sustainability to a more balanced framework that integrates output stabilization, fiscal sustainability, and long-term growth objectives.
Subject: Fiscal councils, Fiscal policy, Fiscal risks, Fiscal rules, Fiscal stance, Public financial management (PFM)
Keywords: debt management strategy, debt sustainability, expenditure policy, financing expertise, fiscal consolidation, Fiscal councils, Fiscal policy, fiscal policy advice, fiscal policy recommendation, Fiscal risks, Fiscal rules, fiscal space, Fiscal stance, Fund staff, Global, Government debt management, IMF performance, IMF surveillance, IMF's mandate, Policy mix, resource constraint
Pages:
7
Volume:
2025
DOI:
Issue:
044
Series:
Policy Paper No. 2025/044
Stock No:
PPEA2025044
ISBN:
9798229033312
ISSN:
2663-3493
