## Fiscal Risk Management — KNOWLEDGE HUB

## Source details

**Canonical URL:** [Fiscal Risk Management — KNOWLEDGE HUB](https://www.imf.org/en/topics/fiscal-policies/fiscal-risks/fiscal-risks-knowledge-hub)

## Other formats

- [Markdown version](/en/topics/fiscal-policies/fiscal-risks/fiscal-risks-knowledge-hub/index.md)
- [Structured JSON version](/en/topics/fiscal-policies/fiscal-risks/fiscal-risks-knowledge-hub/index.json)
- [Bundle manifest](/en/topics/fiscal-policies/fiscal-risks/fiscal-risks-knowledge-hub/bundle-manifest.json)

---

### Overview
- The International Monetary Fund (IMF) has prepared a wide range of guidance to help countries better understand and manage fiscal risks.
- Guidance includes high-level analytical and policy papers, detailed How to Notes on approaches to analyzing and managing specific fiscal risks, and country-tailored capacity development reports.
- The materials aim to strengthen monitoring, analysis, management, and reporting of fiscal risks tailored to country circumstances.

### Types of guidance and tools
- High-level analytical and policy papers that articulate frameworks for fiscal risk assessment and management.
- Detailed How to Notes providing step-by-step approaches to analyze and manage discrete fiscal risks.
- Country capacity development reports focused on strengthening institutional frameworks and technical capacity to monitor and manage fiscal risks.

### Thematic coverage and analytical focus
- Fiscal risks related to state-owned enterprises and government support mechanisms.
- Fiscal risks arising from public-private partnerships and infrastructure projects.
- Quasi-fiscal operations and central bank crisis interventions.
- Fiscal risks at subnational government levels.
- Climate change implications for public sector balance sheets and fiscal exposures.
- Managing fiscal risks during periods of fiscal stress and in the context of pandemic-related policy interventions.

### Capacity development and knowledge dissemination
- Capacity development activities include online courses, regional workshops, and virtual workshops designed to build practical skills in assessing and managing fiscal risks.
- Knowledge products are complemented by analytical blogs and applied tools that illustrate benchmarking, stress testing, and fiscal risk assessment methodologies.

### Purpose and policy relevance
- The IMF’s guidance is intended to improve the credibility and resilience of public finances by promoting systematic monitoring, transparent reporting, and proactive management of fiscal risks.
- Emphasis on tailored approaches recognizes differing country circumstances and the need for institution-specific solutions.

---

## Content in this bundle

- **COVID-19: How to Record Government Policy Interventions in Fiscal Statistics**
  - [COVID-19: How to Record Government Policy Interventions in Fiscal Statistics (Markdown version)](/-/media/files/publications/covid19-special-notes/en-special-series-on-covid-19-how-to-record-government-policy-interventions-in-fiscal-statistics.pdf.md){rel="alternate" type="text/markdown"}
  - [COVID-19: How to Record Government Policy Interventions in Fiscal Statistics (PDF)](/-/media/files/publications/covid19-special-notes/en-special-series-on-covid-19-how-to-record-government-policy-interventions-in-fiscal-statistics.pdf){rel="external" type="application/pdf"}
- **Government Support to State-Owned Enterprises: Options for Sub-Saharan Africa**
  - [Government Support to State-Owned Enterprises: Options for Sub-Saharan Africa (Markdown version)](/-/media/files/publications/covid19-special-notes/enspecial-series-on-covid19government-support-to-stateowned-enterprises-options-for-subsaharan-afric.pdf.md){rel="alternate" type="text/markdown"}
  - [Government Support to State-Owned Enterprises: Options for Sub-Saharan Africa (PDF)](/-/media/files/publications/covid19-special-notes/enspecial-series-on-covid19government-support-to-stateowned-enterprises-options-for-subsaharan-afric.pdf){rel="external" type="application/pdf"}
- **Managing Fiscal Risks Under Fiscal Stress**
  - [Managing Fiscal Risks Under Fiscal Stress (Markdown version)](/-/media/files/publications/covid19-special-notes/special-series-on-covid-19-managing-fiscal-risks-under-fiscal-stress.pdf.md){rel="alternate" type="text/markdown"}
  - [Managing Fiscal Risks Under Fiscal Stress (PDF)](/-/media/files/publications/covid19-special-notes/special-series-on-covid-19-managing-fiscal-risks-under-fiscal-stress.pdf){rel="external" type="application/pdf"}
- **2021 04 Fad Jvi Fiscal Risks Program Agenda April 21**
  - [2021 04 Fad Jvi Fiscal Risks Program Agenda April 21 (Markdown version)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/2021-04-fad-jvi-fiscal-risks-program-agenda-april-21.pdf.md){rel="alternate" type="text/markdown"}
  - [2021 04 Fad Jvi Fiscal Risks Program Agenda April 21 (PDF)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/2021-04-fad-jvi-fiscal-risks-program-agenda-april-21.pdf){rel="external" type="application/pdf"}
- **Agenda Ccamtac Workshop on Soe Fiscal Risks April 2021**
  - [Agenda Ccamtac Workshop on Soe Fiscal Risks April 2021 (Markdown version)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/agenda-ccamtac-workshop-on-soe-fiscal-risks-april-2021.pdf.md){rel="alternate" type="text/markdown"}
  - [Agenda Ccamtac Workshop on Soe Fiscal Risks April 2021 (PDF)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/agenda-ccamtac-workshop-on-soe-fiscal-risks-april-2021.pdf){rel="external" type="application/pdf"}
- **Latin America Virtual Workshop on Fiscal Risk Management Toolkit**
  - [Latin America Virtual Workshop on Fiscal Risk Management Toolkit (Markdown version)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/captacdrenglishversionfrmtoolkitworkshop-april2021.pdf.md){rel="alternate" type="text/markdown"}
  - [Latin America Virtual Workshop on Fiscal Risk Management Toolkit (PDF)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/captacdrenglishversionfrmtoolkitworkshop-april2021.pdf){rel="external" type="application/pdf"}
- **Courseonlinefrdssept2021**
  - [Courseonlinefrdssept2021 (Markdown version)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/courseonlinefrdssept2021.pdf.md){rel="alternate" type="text/markdown"}
  - [Courseonlinefrdssept2021 (PDF)](/-/media/files/topics/fiscal/fiscal-risks/seminarsdocs/courseonlinefrdssept2021.pdf){rel="external" type="application/pdf"}

---

## References

- [Managing Fiscal Risks in the Middle East and North Africa (June 2023)](https://www.imf.org/en/Publications/Departmental-Papers-Policy-Papers/Issues/2023/06/08/Managing-Fiscal-Risks-in-the-Middle-East-and-North-Africa-529220)
- [Quasi-Fiscal Implications of Central Bank Crisis Interventions (June 2023)](https://www.imf.org/en/Publications/WP/Issues/2023/06/02/Quasi-Fiscal-Implications-of-Central-Bank-Crisis-Interventions-534076)
- [The State as Financier of Last Resort (October 2022)](https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2022/10/11/The-State-as-Financier-of-Last-Resort-523706)
- [How to Manage Fiscal Risks from Subnational Governments (September 2022)](https://www.imf.org/en/Publications/Fiscal-Affairs-Department-How-To-Notes/Issues/2022/09/01/How-to-Manage-Fiscal-Risks-from-Subnational-Governments-522609)
- [Georgia: Technical Assistance Report-Updating the Balance Sheet and Quantifying Fiscal Risks From Climate Change (May 2022)](https://www.imf.org/en/Publications/CR/Issues/2022/05/27/Georgia-Technical-Assistance-Report-Updating-the-Balance-Sheet-and-Quantifying-Fiscal-Risks-518383)
- [The Nexus Between Public Enterprise Governance, Financial Performance, and Macroeconomic Vulnerabilities: An Application to Moldova (March 2022)](https://www.imf.org/en/Publications/WP/Issues/2022/03/04/The-Nexus-Between-Public-Enterprise-Governance-Financial-Performance-and-Macroeconomic-513885)
- [Strengthening the Credibility of Public Finances (Oct 2021)](https://www.imf.org/en/Publications/FM/Issues/2021/10/13/fiscal-monitor-october-2021)
- [State-Owned Enterprises in Middle East, North Africa, and Central Asia: Size, Costs, and Challenges (Sept 2021)](https://www.imf.org/en/Publications/Departmental-Papers-Policy-Papers/Issues/2021/09/17/State-Owned-Enterprises-in-Middle-East-North-Africa-and-Central-Asia-Size-Costs-and-464657)
- [How to Assess Fiscal Risks from State-Owned Enterprises: Benchmarking and Stress Testing (Aug 2021)](https://www.imf.org/en/Publications/Fiscal-Affairs-Department-How-To-Notes/Issues/2021/08/18/How-to-Assess-Fiscal-Risks-from-State-Owned-Enterprises-463616)
- [Mastering the Risky Business of Public-Private Partnerships in Infrastructure (May 2021)](https://www.imf.org/en/Publications/Departmental-Papers-Policy-Papers/Issues/2021/05/10/Mastering-the-Risky-Business-of-Public-Private-Partnerships-in-Infrastructure-50335)
- [Managing Fiscal Risks from State-Owned Enterprises (July 2020)](https://www.imf.org/en/Publications/WP/Issues/2020/09/25/Managing-Fiscal-Risks-from-State-Owned-Enterprises-49773)
- [SEE ALL PUBLICATIONS](https://www.imf.org/en/Topics/fiscal-policies/Fiscal-Risks/Fiscal-Risks-Knowledge-Hub/Fiscal-Risks-Knowledge-Hub-Publications?sc_mode=1)
- [SEE ALL SEMINARS](https://www.imf.org/en/Topics/fiscal-policies/Fiscal-Risks/Fiscal-Risks-Knowledge-Hub/Fiscal-Risks-Knowledge-Hub-Outreach?sc_mode=1)
- [Assessing Fiscal Risks from State-Owned Enterprises: Benchmarking and Stress Testing](https://blog-pfm.imf.org/pfmblog/2022/02/-assessing-fiscal-risks-from-state-owned-enterprises-benchmarking-and-stress-testing-.html)
- [The Cost of Future Policy: Intertemporal Public Sector Balance Sheets in the G7](https://blog-pfm.imf.org/pfmblog/2021/07/-the-cost-of-future-policy-intertemporal-public-sector-balance-sheets-in-the-g7-.html)
- [Fiscal Risk Management Tools for Latin America](https://blog-pfm.imf.org/pfmblog/2021/06/-fiscal-risk-management-tools-for-latin-america-.html)
- [The FRAT Brings Order to the Fiscal Risk Party](https://blog-pfm.imf.org/pfmblog/2021/06/-the-frat-brings-order-to-the-fiscal-risk-party-.html)

_Source: https://www.imf.org/en/topics/fiscal-policies/fiscal-risks/fiscal-risks-knowledge-hub_