Fiscal policy affects macroeconomic stability, growth, and income distribution. Citizens expect their governments to ensure value-for-money for public spending, a fair and efficient tax system, and transparent and accountable management of public sector resources.
The IMF has been a leading source of fiscal policy and management expertise worldwide. The IMF monitors and analyzes global fiscal trends and advises IMF member countries on fiscal issues directly. This page highlights the main fiscal policy issues currently under discussion, as well as provides links to research, publications, and commentary.
Fiscal Monitor October 2023: Climate Crossroads Fiscal Policies in a Warming World (imf.org)
Chapter 1: Fiscal Policies in a Warming World
Chapter 1 of the October 2023 Fiscal Monitor discusses the appropriate mix of fiscal policies to address climate change to contain the rise in temperatures.
Governments should stay the course on fiscal consolidation amid mounting debt.
Domestic laws need updating to ensure that public obligations are transparent
Higher long-term real interest rates, lower growth, and higher debt will put pressure on medium-term fiscal trends and financial stability
Debt servicing costs are increasing rapidly while annual refinancing needs have tripled to about $60 billion
Managing the climate transition calls for a fiscal balancing act with the right mix of policies.
Emerging market and low-income economies have a significant untapped tax potential of 8 percent to 9 percent of GDP
This panel explores the broad agenda for strengthening domestic revenue mobilization in developing countries to help attain the Sustainable Development Goals.
The report takes stock of mitigation policies across countries and presents the trilemma facing policymakers of balancing between achieving climate goals, debt sustainability, and political feasibility. (Wednesday, October 11, 2023)
Our latest Back to Basics video explains what is public debt and the risks and benefits involved when governments borrow.
The theme of this year’s Richard Goode Lecture is “Innovation, Experimentation, and Economics” presented by Professor Michael Kremer.
Climate change is taking its toll on the world. For decades, CAPDR countries have felt the full force of these events with limited resources and capacity. Is resiliency the answer to protecting the region?
Watch the 2nd session of the IMF-UTokyo CARF Policy Conference "Managing Financial Risks in a Shock Prone World".