The U.S. national savings rate has declined in the 1980s, with both public and private components falling. This paper discusses that decline and whether a policy response is needed. The drop in the private savings rate appears to reflect factors not easily reversible by policy and increases in...

This note is intended to inform Public Financial Management (PFM) reform in small Pacific Island Countries (PICs). PFM systems in PIC contexts are often very different from the sophisticated and comprehensive systems operating in larger, wealthier countries. The authors give two key messages....

For the net administrative budget, the FY 16-18 medium-term budget (MTB) proposal includes: In FY 16, an unchanged budget envelope in real terms, for the fourth year in a row. To accommodate new and ongoing strategic priorities of the Fund within a flat envelope, efforts to reallocate resources...