The Covid-19 pandemic has aggravated the tension between large development needs in infrastructure and scarce public resources. To alleviate this tension and promote a strong and job-rich recovery from the crisis, Africa needs to mobilize more financing from and to the private sector

This note provides guidance on how to select fiscal rules in a wide range of economies, including advanced, emerging market, and developing economies. The principles and methods discussed are intuitive and easy to implement, and leave room for policy judgment. The methods are based on past...