{
  "title": "A Framework for Assessing Fiscal Vulnerability",
  "publication": "IMF Working Papers, March 1, 2000",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489",
  "overlayPath": "/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/index.md",
  "summary": "Fiscal vulnerability describes a situation where a government is exposed to the possibility of failure to meet its aggregate fiscal policy objectives.",
  "sections": [
    {
      "heading": "Definition and scope",
      "content": "- Fiscal vulnerability describes a situation where a government is exposed to the possibility of failure to meet its aggregate fiscal policy objectives.\n- The framework is oriented to an aggregate fiscal policy approach and highlights macro-fiscal sources of vulnerability affecting the government's ability to achieve deficit and revenue targets."
    },
    {
      "heading": "Core framework: four macro-fiscal aspects of vulnerability",
      "content": "- Incorrect specification of the initial fiscal position.\n- Sensitivity of short-term fiscal outcomes to risk.\n- Threats to longer-term fiscal sustainability.\n- Structural or institutional weaknesses affecting the design and implementation of fiscal policy."
    },
    {
      "heading": "Findings and analytical focus",
      "content": "- The suggested framework emphasizes assessing both near-term risks (short-term fiscal outcome sensitivity) and medium- to long-term threats (longer-term fiscal sustainability).\n- Structural and institutional factors are treated as distinct channels that can impair the effectiveness of fiscal policy design and implementation.\n- Fiscal vulnerability indicators are suggested to operationalize assessment across the four macro-fiscal aspects.\n\n---\n\n Content in this bundle\n\n- A Framework for Assessing Fiscal Vulnerability - WP/00/52\n  - A Framework for Assessing Fiscal Vulnerability - WP/00/52 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - A Framework for Assessing Fiscal Vulnerability - WP/00/52 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/bundle-manifest.json)",
    "Authors: Murray Petrie, Richard Hemming",
    "Published: March 1, 2000",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451847246.001",
    "Fiscal vulnerability describes a situation where a government is exposed to the possibility of failure to meet its aggregate fiscal policy objectives.",
    "The framework is oriented to an aggregate fiscal policy approach and highlights macro-fiscal sources of vulnerability affecting the government's ability to achieve deficit and revenue targets.",
    "Incorrect specification of the initial fiscal position.",
    "Sensitivity of short-term fiscal outcomes to risk.",
    "Threats to longer-term fiscal sustainability.",
    "Structural or institutional weaknesses affecting the design and implementation of fiscal policy.",
    "The suggested framework emphasizes assessing both near-term risks (short-term fiscal outcome sensitivity) and medium- to long-term threats (longer-term fiscal sustainability).",
    "Structural and institutional factors are treated as distinct channels that can impair the effectiveness of fiscal policy design and implementation.",
    "Fiscal vulnerability indicators are suggested to operationalize assessment across the four macro-fiscal aspects.",
    "**A Framework for Assessing Fiscal Vulnerability - WP/00/52**"
  ],
  "related": [
    {
      "title": "A Framework for Assessing Fiscal Vulnerability - WP/00/52",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2000/_wp0052.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2000/_wp0052.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2000/_wp0052.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/index.md",
    "json": "/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/index.json",
    "bundleManifest": "/en/publications/wp/issues/2016/12/30/a-framework-for-assessing-fiscal-vulnerability-3489/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-17T05:15:31.253Z"
}