In recent years, the countries of Latin America have embraced reforms in public financial management and have made many important advances-however, many challenges remain. This book brings together IMF and IDB staff and representatives from 16 governments in the region to document these reforms,...

Reallocation is about major adjustments of public expenditure away from its current patterns. In recent years, reallocation has become increasingly important as a means to finance new needs in the sphere of internal and external security, integration of immigrants, education, health and...

Despite considerable progress made by Latin America's biggest economies in putting their finances in order, numerous challenges remain.  Public spending needs to incorporate more flexibility, ageing populations and social demands threaten future pressures on expenditure, and social and...