Based on cross-country data for up to 78 countries, this paper shows that fiscal decentralization-the assignment of expenditure and revenue mobilization functions to subnational levels of government-is associated with various indicators of governance, such as corruption, rule of law, and...

In preparing for the discussions of the Iraqi Constituent Assembly, IMF and World Bank staff and consultant experts presented to senior officials from the central and local governments in Iraq, including from Kurdistan, key options that might be relevant for the discussions. This paper reflects...

Full implementation of an intergovernmental transfer system based on revenue capacities and expenditure needs could significantly improve both redistribution and equity objectives of the Chinese authorities. This was envisaged in the 1994 fiscal reforms, but the authorities were unable to...

This report provides an assessment of fiscal transparency practices in Guatemala in light of the requirements of the IMF Code of Good Practices on Fiscal Transparency. The assessment reveals that Guatemala has progressed in certain important aspects of fiscal transparency. A variety of measures...

This paper reviews the Report on the Observance of Standards and Codes on Fiscal Transparency for Ukraine, and provides an assessment of fiscal transparency practices in Ukraine against the requirements of the IMF Code of Good Practices on Fiscal Transparency. It reviews the description of...

Since 1999, economic policies have sought to place the country on a path of sustainable growth, which would help reduce unemployment and poverty. The authorities have begun to address the risk of overheating, although demand policies may need to be tightened further. Monetary policy will be...

Despite Zambia's continued battle with poverty, the authorities have maintained sustained growth and macroeconomic stability during the past decade. 2011 showed robust GDP growth supported by agricultural activities and strong bank credit. But the Executive Board expressed concern over the risks...

This report provides a reassessment of fiscal transparency practices in Mozambique. The reassessment is conducted against the results of Report on the Observance of Standards and Codes (ROSC) on fiscal transparency, which identified serious transparency shortcomings and updates of the ROSC,...

This report provides an assessment of fiscal transparency practices in Serbia in relation to the requirements of the IMF Code of Good Practices on Fiscal Transparency. Serbia has made solid advances in fiscal transparency in recent years, but there are still some major shortcomings. This report...

This 2009 Article IV Consultation highlights that the Chilean economy has proved resilient in the face of the global financial crisis. The policy response to the crisis has been sizable, well balanced, and coordinated. Executive Directors have commended the Chilean authorities for their sound...