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Business and Economics > Budgeting

You are looking at 1 - 3 of 3 items for :

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Cover Policy Papers
The G-20 Mutual Assessment Process and the Role of the Fund
International Monetary Fund
This paper summarizes the Fund staff’s understanding of the modalities that the G-20 members intend to follow in their mutual assessment process and what they have requested for this purpose from the Fund. It also discusses the legal and policy implications of the Fund’s involvement in this exercise, but without prejudging the broader discussion of the Fund’s mandate the Board will have in the coming months. As the G-20 process is still evolving, the precise nature of the Fund’s involvement, in particular its inputs, will become clearer over time. The Executive Board will be kept informed as the process develops.
Keywords:
PP; G20 industrial nations; staff; Fund staff; policy; country; G-20 Summit; country desk; growth objective; forward-looking assessment; country update; understanding of the modality; Labor market policy; Legal support in revenue administration; Budget planning and preparation; Asset bubbles; Global
Cover IMF Staff Country Reports
Ghana: Joint Staff Advisory Note of the Poverty Reduction Strategy Paper and Annual Progress Report on Implementation of the Poverty Reduction Strategy Paper
International Monetary Fund
Executive Directors believe that the Growth and Poverty Reduction Strategy (GPRS) outlines a comprehensive framework for growth and poverty reduction in Ghana. The GPRS II rightly emphasizes private sector-led growth as key to broadening the country’s economic base. The GPRS II will benefit from analyzing the risks to the strategy such as inability to implement planed structural reforms, exogenous shocks and domestic factors, fiduciary weaknesses, and capacity limitations. A comprehensive macroeconomic framework that is consistent with the medium-term fiscal framework and growth assumptions is required.
Keywords:
ISCR; CR; GPRS II; government; private sector; natural resource; government intention; poverty trend; macroeconomic policy; public expenditure; Poverty reduction strategy; Medium-term budget frameworks; Job training; Africa; Sub-Saharan Africa
Cover IMF Working Papers
Reconciling Stability and Growth: Smart Pacts and Structural Reforms
Mr. Roel M. W. J. Beetsma
and
Mr. Xavier Debrun
This paper analyzes the decision of a government facing electoral uncertainty to implement structural reforms in the presence of fiscal restraints similar to the Stability and Growth Pact. The model shows that a pact may harm structural reforms, sacrificing future growth for present stability. The welfare gains brought about by a pact depend on a trade-off between the reduction in the deficit bias and the induced reduction in the amount of structural reform. A pact becomes more attractive (“smarter”) if it takes into account the fiscal impact of structural reforms, in line with a recent proposal by the European Commission.
Keywords:
WP; public goods; Structural reforms; Stability and Growth Pact; Monetary Union; Sanctions; partisan government; budget constraint; deficit bias; incumbent government; Budget planning and preparation; Employment protection; Structural policies; Europe