|
|
|||
|
||||
OverviewThe April 2018 edition of Fiscal Monitor is focused on two broad themes: the burden of high global debt and the opportunities and challenges of digital government. Chapter 1 explores how strong and broad-based growth provides an opportunity to rebuild fiscal buffers now, improve government balances, and anchor public debt. One concern is the surge in global debt, which reached the record peak of US$164 trillion in 2016. Chapter 1 discusses how public debt plays an important role in the surge in global debt, which is at historic highs among advanced and emerging market economies. Rapidly rising debt among low income developing countries means that interest payments are taking up an increasingly large share of taxes and expenditure. Chapter 1 recommends putting deficits and debt firmly on a downward path toward their medium-term targets. The size and pace of adjustment need to be calibrated to each country's cyclical conditions and available fiscal space. Several low-income countries need to mobilize revenues, rationalize spending, and improve spending efficiency. Chapter 1 also urges countries to implement policies to support medium-term growth by promoting human and physical capital, and by increasing productivity. Chapter 2 discusses how digitalization presents opportunities and challenges for fiscal policy and the ways in which it can change how governments design and implement current and future policies. The chapter also discusses how digitalization can positively transform governments by improving tax policy and administration, increasing spending efficiency and enhancing fiscal management. Digitalization calls for a proactive, forward-looking, and comprehensive reform agenda. The chapter conveys that governments must address multiple political, social, and institutional weaknesses and manage digital risks. Digitalization is already an overwhelming trend that will accelerate further. Governments should embrace it, foresee it, and shape it. Full Product DetailsAuthor: International Monetary FundPublisher: International Monetary Fund (IMF) Imprint: International Monetary Fund (IMF) ISBN: 9781484333952ISBN 10: 1484333950 Pages: 156 Publication Date: 18 June 2018 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: In Print This item will be ordered in for you from one of our suppliers. Upon receipt, we will promptly dispatch it out to you. For in store availability, please contact us. Table of ContentsReviewsAuthor InformationThe International Monetary Fund (IMF) is an international organization of 185 Member Countries. It was established to promote international monetary cooperation, exchange stability, and orderly exchange arrangements; to foster economic growth and high levels of employment; and to provide temporary financial assistance to countries in order to help ease balance of payments adjustments. Tab Content 6Author Website:Countries AvailableAll regions |