In spite of progress made to date and the significant long-term ambition announced by many countries, climate policy actions remain insufficient to meet the Paris Agreement objectives. While several international initiatives aim to track and monitor climate policies, there is not yet a “go...

The COVID-19 pandemic is taking a human toll and has unleashed a series of shocks on the Fund's entire membership, creating severe disruption in the global economic and financial system. As a result, many emerging market and developing country (EMDC) members face urgent and unprecedented...

To better respond to the unprecedented demand from the membership for financing and crisis support in response to the covid-19 pandemic, there is a temporary postponement of staff's work on Article IV consultations and mandatory Financial Stability Assessments. To ensure the postponement has no...

This paper highlights the state of Public Finances Cross-Country Fiscal Monitor. This edition of the Cross-Country Fiscal Monitor provides an update of global fiscal developments and policy strategies, based on projections from the November 2009 WEO. These projections reflect the assessment of...

This paper develops indices of fiscal transparency for a broad range of countries based on the IMF''s Code of Good Practices on Fiscal Transparency, using data derived from published fiscal transparency modules of the Reports on the Observance of Standards and Codes (ROSCs). The indices covers...

Capital flows can deliver substantial benefits for countries, but also have the potential to contribute to a buildup of systemic financial risk. Benefits, such as enhanced investment and consumption smoothing, tend to be greater for countries whose financial and institutional development enables...

This paper proposes that the Executive Board approve the disbursement of a second 6-month tranche of CCRT debt service relief to 28 of the 29 members, covering the period October 14, 2020 through April 13, 2021, given staff's assessment that sufficient financial resources are available.2 In this...

This paper proposes a package of policy reforms and a funding strategy to ensure that the Fund has the capacity to respond flexibly to LICs' needs during the pandemic and recovery. The key policy reforms proposed include: -- raising the normal annual/cumulative limits on access to PRGT resources...