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IMF Fiscal Affairs Department (FAD) November 2012 |
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FAD at a Glance Contacts in FAD Previous Newsletters PFM Blog Fiscal Issues at the IMF
“Natural Resource Endowments, Governance, and Domestic Revenue Mobilization: Lessons for the CEMAC Region” with Sanjeev Gupta and Eva Jenkner: Edited by Bernardin Akitoby and Sharmini Coorey International Monetary Fund 2012 "Income Inequality and Fiscal Policy" Francesca Bastagli, David Coady, and Sanjeev Gupta, Inequality in Focus, World Bank, Volume 1, Number 3; October 2012 “Financing Health Care Reform in Emerging Economies” By Sanjeev Gupta and Baoping Shang Commonwealth Finance Ministers Report, 2012-2013 “Local governments’ fiscal balance and privatization in transition countries” by Ernesto Crivelli, Economics of Transition, October 2012, Volume 20, Issue 4, pages 677-703. “Fueling Risk” by David Coady, Valentina Flamini, and Matias Antonio, Finance & Development, September 2012, Vol. 49, No. 3
“Foreign Aid and Revenue: Still a Crowding Out Effect?” By Dora Benedek, Ernesto Crivelli, Sanjeev Gupta, and Priscilla Muthoora July 2012 “Tax Composition and Growth: A Broad Cross-Country Perspective” S. Acosta-Ormaechea, J. Yoo "Some Algebra of Fiscal Transparency: How Accounting Devices Work and How to Reveal Them",Tim Irwin, September 2012 "Taxation and Development - Again", Michael Keen, September 2012 "Fiscal Rules at a Glance: Country Details from a New Dataset" Nina Budina, Tidiane Kinda, Andrea Schaechter, November 2012.
IMF Fiscal Forum, Washington DC, April 17, 2013 Stimulus or Stymied? The Macroeconomics of Recessions, American Economic Association Panel Discussion featuring Carlo Cottarelli, Jan 6, 2013 Conference on “Fiscal Transparency in the Wake of the Crisis” organized by IMF, HM Treasury and ICAEW, Dec. 10, 2012, London
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October 2012 Fiscal Monitor
Fiscal Transparency, Accountability and Risk Fiscal transparency is a critical element of effective fiscal policy making and the management of fiscal risks. Over the last decade and a half, it has in many respects improved, as new standards of fiscal reporting have been developed. This paper, which was discussed at the IMF Executive Board, examines the relationship between fiscal transparency and outcomes; reviews progress in promoting greater fiscal transparency and considers the lessons of the recent crisis for existing transparency standards. Macroeconomic Policy Frameworks for Resource Rich Developing Countries A recent paper seeks to strengthen the prism through which policy analysis is conducted for resource-rich developing countries. The paper emphasizes the use of appropriate fiscal indicators to assess the fiscal stance (including through the use of the non-resource primary balance) and assesses the trade-offs associated with the use of alternative fiscal rules to help countries manage volatility and exhaustibility issues. Fiscal Regimes for Extractive Industries—Design and Implementation In many developing countries, dependence on extractive industry tax revenues has increased and will continue to grow. Designing and implementing extractive industries tax regimes is a key challenge and opportunity. This paper suggests ways to better realize revenue potential and offers advice on how to design strong fiscal regimes for extractive industries. Bruegel-FAD Workshop; Reforming Financial Sector Taxation, September 19, 2012
Joint Conference on Fiscal Policy and Greener Economics, Geneva October 3-4 2012 FAD co-sponsored with UNEP and GIZ a workshop: "Fiscal Policies: Towards an Inclusive Green Economy". The main focus of the workshop was the case for fiscal reforms to balance environmental and economic concerns. There were 50 participants at the workshop, including representatives from finance and environmental ministries in developing and developed countries. Annual Meeting Seminar: Good Management of Natural Resources, October 10, Tokyo
Annual Meeting Seminar: Restoring Public Debt Sustainability in a High Risk Environment, Tokyo, October 12, 2012 This high level seminar - organized by FAD jointly with the Japanese Ministry of Finance discussed the policies needed to restore long-term debt sustainability when financial sector vulnerabilities remain high. The discussion highlighted the linkages between fiscal and financial stability and how easily contagion and adverse spillovers can spread across borders. Participants included Vitor Constâncio, Vice President of the ECB, Takehiko Nakao, Vice Minister of Finance for International Affairs, Japan; Peter Orszag, Vice Chairman, Global Banking, Citigroup; Jean Pisani-Ferry, Director, Bruegel Institute, Nemak Shafik, Deputy Managing Director IMF, and Ignazio Visco, Governor, Bank of Italy. Third Latin American Treasury Forum Seminar, Bogota Colombia, August 22-24 2012.
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Bloomberg US Fiscal Cliff Threatens Growth The Economist Let Go of the Brakes New York Times Meanwhile, Europe Krugman Blog Financial Times IMF urges Britain to Prepare for Plan B Daily Telegraph World Cannot Afford Second Fiscal Cliff after Europe's Failed Attempt Jakarta Post IMF Calls Countries to Take Measures to Reduce Debts Forbes IMF Raises Alarms over Japan's Dangerous Fiscal Course FT Alphaville The IMF Game Changer
Taking Stock: Public Finances Now Stronger in Many Countries
Taking Stock: A Progress Report of Fiscal Adjustment: Youtube IMF Cuts Global Growth Forecast CCTV US Needs a Medium Term Fiscal Plan: Bloomberg TV
During July-October 2012, FAD provided 74 technical assistance missions from headquarters to IMF member countries and multi-country organizations.
FAD seeks talented and dedicated professionals with a background in different areas of public finance, to work on macro-fiscal policy issues and to provide technical assistance advice to IMF member countries on public financial management, tax policy reform, revenue administration, and different expenditure policy issues. Vacancies in FAD for staff and long-term expert positions are posted here. FAD also seeks experts who are interested in occasional short-term (2–3 week) assignments; interested candidates may send their CVs here. |
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