Fiscal Monitor, April 2012

Business & Finance, Economics, Public Finance, Money & Monetary Policy, Finance & Investing, Taxation
Cover of the book Fiscal Monitor, April 2012 by International Monetary Fund. Fiscal Affairs Dept., INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: International Monetary Fund. Fiscal Affairs Dept. ISBN: 9781475515565
Publisher: INTERNATIONAL MONETARY FUND Publication: April 17, 2012
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: International Monetary Fund. Fiscal Affairs Dept.
ISBN: 9781475515565
Publisher: INTERNATIONAL MONETARY FUND
Publication: April 17, 2012
Imprint: INTERNATIONAL MONETARY FUND
Language: English
Overall, fiscal risks remain elevated, according to this issue, although there are signs that in some key respects they are less acute than six months ago. Past efforts with fiscal consolidation are beginning to bear fruit, particularly when buttressed by credible institutional commitments. Nevertheless, debt ratios in many advanced economies are at historical levels and rising, borrowing requirements remain very large, financial markets continue to be in a state of alert, and downside risks to the global economy predominate. In this uncertain environment, the challenge for fiscal policy is to find the right balance between exploiting short-term space to support the fragile recovery and rebuilding longer-term space by advancing fiscal consolidation. Against that background, this issue examines in more detail the concept of fiscal space, or the scope that policymakers have to calibrate the pace of fiscal adjustment without undermining fiscal sustainability. A number of conclusions emerge in regard to countries' ongoing vulnerability to unexpected shocks, the potential for substantial negative impacts of fiscal adjustment on activity, possible overstatements of short-term pressures on the public finances in some countries as general government gross debt ratios have risen, the implications of countries having flexibility in the short term but not the longer term, and the monitoring and enforcement challenges raised by second-generation fiscal rules.
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Overall, fiscal risks remain elevated, according to this issue, although there are signs that in some key respects they are less acute than six months ago. Past efforts with fiscal consolidation are beginning to bear fruit, particularly when buttressed by credible institutional commitments. Nevertheless, debt ratios in many advanced economies are at historical levels and rising, borrowing requirements remain very large, financial markets continue to be in a state of alert, and downside risks to the global economy predominate. In this uncertain environment, the challenge for fiscal policy is to find the right balance between exploiting short-term space to support the fragile recovery and rebuilding longer-term space by advancing fiscal consolidation. Against that background, this issue examines in more detail the concept of fiscal space, or the scope that policymakers have to calibrate the pace of fiscal adjustment without undermining fiscal sustainability. A number of conclusions emerge in regard to countries' ongoing vulnerability to unexpected shocks, the potential for substantial negative impacts of fiscal adjustment on activity, possible overstatements of short-term pressures on the public finances in some countries as general government gross debt ratios have risen, the implications of countries having flexibility in the short term but not the longer term, and the monitoring and enforcement challenges raised by second-generation fiscal rules.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Macroeconomic Challenges of Scaling Up Aid to Africa: A Checklist for Practitioners by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Finance & Development, September 1980 by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Fifty Years After Bretton Woods: The Future of the IMF and the World Bank: Proceedings of a Conference held in Madrid, Spain, September 29-30, 1994 by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book International Comparisons of Government Expenditure by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Putting the Cart Before the Horse? Capital Account Liberalization and Exchange Rate Flexibility in China by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Distribución directa de los ingresos provenientes de recursos naturales by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Fiscal Management of Scaled-Up Aid by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Sovereign Assets and Liabilities Management by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Regional Economic Outlook: Europe, October 2008 by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Financial Sector Crisis and Restructuring:Lessons from Asia by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book External Debt Statistics: Guide for Compilers and Users by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Tax Law Design and Drafting, Volume 1 by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Guide on Resource Revenue Transparency (2007) by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Ukraine's Gas Arrears: Issues and Recommendations by International Monetary Fund. Fiscal Affairs Dept.
Cover of the book Contingent Capital: Economic Rationale and Design Features by International Monetary Fund. Fiscal Affairs Dept.
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy