Presentation of the Spring 2016 IMF Fiscal Monitor
The presentation will discuss the main findings of the Fiscal Monitor report issued by the IMF last spring. The report examines how countries can respond to the sharp deterioration of fiscal positions in the past year. Public debt ratios have been revised upward almost everywhere. The revisions have been largest in emerging market and middle-income economies, where fiscal deficit ratios in 2015-16 are now expected to exceed the levels observed at the beginning of the global financial crisis. The main forces driving the deterioration of debt dynamics are ongoing adjustments in the global economy. These lasting transformations include continued weakness in global activity, the decline in commodity prices, the slowdown in trade, and tighter financial conditions in emerging market and developing economies. All countries need to adapt to these new realities, but there is no one-size-fits-all solution. The presentation will outline the IMF's fiscal recommendations by country group and by type of economic challenge, and emphasise the benefits from better coordinating fiscal, monetary, and structural policies. It will also discuss the conditions under which the policy response should be coordinated across countries. Finally, the presentation will provide an overview of the analytical chapter on "Fiscal Policies for Innovation and Growth, " which identifies the fiscal measures that are the most cost-effective for productivity.
The full report is available at: https://www.imf.org/external/pubs/ft/fm/2016/01/fmindex.htm
Registration from 09.00 – Meeting from 09.30 to 11.00
