Through the provision of both social and economic infrastructure, public investment can serve as an important catalyst for economic growth. A significant body of theoretical and empirical research underscores the positive relationship between investment in high-quality public infrastructure and...

The recent crisis left many G-20 countries with significant fiscal consolidation needs. There is evidence that well-designed budget institutions can help countries to plan and deliver successful fiscal adjustments. A 2010 internal IMF study identified ten budget institutions which can support...

The central government publishes comprehensive financial statements, which include the social security funds and balance sheets with all financial assets and liabilities. Audited financial statements are published more than nine months after the end of the fiscal year. The 2004 Fiscal...

This report responds to the February 2016 request from the G20. The report has been prepared in the framework of the Platform for Collaboration on Tax (the "PCT"), under the responsibility of the Secretariats and Staff of the four mandated organizations. The report reflects a broad consensus...

Almost four years since the onset of the global financial and economic crisis, unemployment and underemployment remain stubbornly high in many G20 countries, and many workers remain trapped in low paid, often informal, jobs with little social protection. Job creation has been anemic in many...

provide a powerful lift to growth-both in the short and the long term-if they are well aligned with individual country conditions . These include an economy's level of development, its position in the economic cycle, and its available macroeconomic policy space to support reforms. The larger a...

Following the recent diagnostic of the international monetary system (IMS), the IMF will explore whether a broader role for the SDR could contribute to its smooth functioning. The economic rationale for or against broader use of the SDR will be examined, focusing in particular on identifying any...