- Key Issues
- Fiscal Issues at the IMF
IMF on Fiscal Challenges
On the Ground
Public investment supports the delivery of key public services, connects citizens and firms to economic opportunities, and can serve as an important catalyst for economic growth.
This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers.
Fiscal risks remain significant in both advanced and emerging market and developing economies. Fiscal policy continues to play an essential role in building confidence and, where appropriate, sustaining aggregate demand.
This paper examines the impact of deflation on fiscal aggregates.
This paper explores the impact of political and institutional variables on public investment.
This paper examines the risk factors associated with fiscal costs of systemic banking crises using cross-country data.
Need to Know
The sharp drop in oil prices is one of the most important global economic developments over the past year.
Achieving fiscal consolidation without undermining growth and poverty-reduction efforts is a key policy challenge in many countries.
What People Are Saying
Plunging oil prices have taken the public finances on an exciting ride the past six months. Oil prices have fallen about 45 percent since September (see April 2015 World Economic Outlook), putting a big dent in the revenues of oil exporters, while providing oil importers an unexpected windfall.
Does fiscal policy respond systematically to economic activity? Can fiscal policy promote macroeconomic stability? Does greater stability support stronger growth? The answer is yes on all counts.
Anyone can easily picture an economy where instability, stagnation and runaway government deficits converge into a perfect storm. Yet the simple mirror image of stability, growth, and balanced budgets currently seems odd to many.
This book develops a practical methodology, and associated tools, to show how the major environmental damages from energy can be quantified for different countries and used to design the efficient set of energy taxes.
The book underscores how the global financial crisis has reshaped our understanding of the role of fiscal policy with topics that include a historical view of debt accumulation; the timing, size, and composition of fiscal stimulus packages in advanced and emerging economies; the heated debate surrounding the size of fiscal multipliers and the effectiveness of fiscal policy as a countercyclical tool and more.
Revenues from natural resources often pose unique challenges for tax administration. This Handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries.
This book brings together the latest research on equity issues related to pension systems and pension reforms in the post-crisis world.
Technical Assistance Reports
Republic of Poland: Technical Assistance Report-Tax Administration-Modernization Challenges and Strategic Priorities
South Africa: Technical Assistance Report-Revenue Administration Gap Analysis Program—The Value-Added Tax Gap
South Africa: Technical Assistance Report-Fiscal Regimes for Mining and Petroleum: Opportunities and Challenges
At the fiscal forefront
- Press Briefing: Fiscal Monitor
- IMF’s Fiscal Affairs Department's 50th Anniversary
- Getting Energy Prices Right
- Administering Fiscal Regimes for Extractive
- IMF Moving Forward on Energy Tax Reform
- Vítor Gaspar: The IMF’s New Fiscal Policy Head
- Energy Subsidy Reform: Lesson and Implications
- Public Financial Management and Its Emerging Architecture
- Rethinking Macro Policy: First Steps and Early Lessons
- Fiscal Adjustment in an Uncertain World
- Partnerships for Change: Timor-Leste (October 10, 2012)
- The Economics of Public Health Care Reform in Advanced and Emerging Economies
- Africa Develops: IMF Technical Assistance in Mali (English and French)
- Africa Rebuilds: IMF Technical Assistance in Liberia