This volume discusses progress made to date in Argentina, Brazil, Chile and Mexico in putting their finances in order and points out the challenges ahead. It provides an overview of trends and highlights the diversity of fiscal adjustment processes in Latin American countries. It also describes...

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...