Series: IMF Working Papers
Author(s): Timothy Irwin
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 28 September 2015
Keywords: Implicit guarantees, fiscal risks, financial crisis, budget reports, guarantees, debt, liabilities, Forecasts of Budgets, Deficits, and Debt,
Fiscal reporting is intended to warn of fiscal crises while there is still time to prevent them. The recent crisis thus seems to reveal a failure of fiscal reporting: before the crisis, even reports on fiscal risk...