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    Fiscal Affairs Department

    © 2010 International Monetary Fund

    Production: IMF Multimedia Services Division

    Typesetting: Alicia Etchebarne-Bourdin

    Cataloging-in-Publication Data

    Strategies for fiscal consolidation in the postcrisis world/by S.M. Ali Abbas … [et al.].—Washington, D.C.: International Monetary Fund, 2010.

    p.; cm.

    Includes bibliographical references.


    1. Fiscal policy. 2. Structural adjustment (Economic policy). 3. Debts, Public. 4. Government spending policy. 5. Budget. 6. Financial crises—Government policy. 7. Global Financial Crisis, 2008–2009. I. Abbas, S. M. Ali. II. International Monetary Fund.

    HJ192.5.S77 2010

    Disclaimer: This publication should not be reported as representing the views or policies of the International Monetary Fund. The views expressed in this work are those of the authors and do not necessarily represent those of the IMF, its Executive Board, or its management.

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    Strategies for Fiscal Consolidation in the Post-Crisis World was prepared in response to the strong interest among IMF member countries in the scale and composition of the fiscal adjustment that will be needed, particularly in advanced economies, once the economic recovery is securely under way. It was presented at an IMF Executive Board seminar in February 2010 that discussed more broadly exit strategies from crisis intervention policies.

    The paper is the product of a team led by Ricardo Velloso and comprised of S. M. Ali Abbas, Olivier Basdevant, Stephanie Eble, Greetje Everaert, Jan Gottschalk, Fuad Hasanov, Junhyung Park, Cemile Sancak, and Mauricio Villafuerte (all from the IMF’s Fiscal Affairs Department, FAD). The work was overseen by Paolo Mauro. Helpful inputs and comments were provided by many colleagues in FAD (in particular, Ben Clements, Carlo Cottarelli, Phil Gerson, Izabela Karpowicz, Mauricio Soto, Anita Tuladhar, and Abdoul Wane) and in other departments within the IMF. The authors also benefited from excellent editorial support by Katia Chen.

    This paper should not be reported as representing the views of the IMF. The opinions expressed are solely those of the authors and do not necessarily reflect IMF policy or the views of the IMF or its Executive Directors.

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