Already before the Covid-pandemic, developing countries struggled with rising public and private debt and weak economic growth caused by delayed structural reforms. The Covid-crisis accentuated these problems- an increasing number of countries is faced with unsustainable public and private finances and increasing poverty rates. Recovering from the crisis will require the swift implementation of growth-promoting reforms, measures to increase the resilience of the economy, and actions to increase the effectiveness and sustainability of public finances.

Improve human and institutional capacity in developing countries in support of growth-promoting, inclusive and sustainable macroeconomic policies, fully aligned with the United Nations Sustainable Development Goals.

Countries' macroeconomic forecasting is improved in support of better informed decision-making and more realistic budgeting.

National budgets are more comprehensive and off-budget expenditures are reduced- national budgets are based on more credible medium-term budget plans, and- a greater portion of the government budget is dedicated to sustainable, growth-promoting investments.

Previously unknown risks that may harm public finance, e.g., liabilities of state owned enterprises or guarantees given by the state (so called "fiscal risks") are identified, disclosed and managed.

Government revenues are increased- compliance with tax filing and payment is improved, and- taxpayer services are improved.

Financial sectors are strengthened and their resilience is increased- legal frameworks are strengthened and aligned with modern standards such as Basel III- unsafe banking practices are prevented.

The comprehensiveness, quality and timeliness of macroeconomic statistics is improved.

Risultati principali attesi:  

Technical assistance reports providing assessments and recommendations

Summary (short) notes helping authorities draft their own internal policy memos to ministers or parliamentarians

Models and other analytical tools, based on IMF models or built from scratch with the authorities

Training material, including presentations, case studies, analytical tools, etc.

Advisory regarding the preparation of new laws and regulations

Processes and procedures, typically manual or policies drafted with the intent to align implementation with policy

Quarterly newsletter

Regional Notes series

Risultati fasi precedenti:  

Tax legislative frameworks have been strengthened in several countries, complemented with efficiency gains in tax administrations, stronger compliance management, and improved dispute resolution.

Capacity building at Ministries of Finance led to enhanced medium-term fiscal frameworks, stronger legal frameworks, improved fiscal risk management and better institutional cooperation.

Several countries were supported in conducting their first-ever Public Investment Management Assessments.

Financial sector supervision regulatory frameworks have been updated, along with improved supervisory practices and stress-testing capabilities.

On statistics, various countries improved the quality and timeliness of their GDP calculation, consumer price index, and balance of payment – such improvements are vital to inform macroeconomic decision making, especially in the context of the Covid-crisis.

Fase 6 01.01.2021 - 30.06.2025   (Active)