The reform of fiscal policies and institutions lies at the heart of structural adjustment in developing countries. Although the immediate aim of such reform is to reduce fiscal imbalances to achieve macroeconomic stability, the long-term goal is to secure more durable improvements in fiscal...

This paper assesses whether the scaling up of aid and the resulting increase in government spending that is needed to meet the Millennium Development Goals (MDGs) would be hampered by wage bill ceilings that are often part of government programs supported by the IMF's Poverty Reduction and...

A major element of the persistent fiscal imbalances in Guinea-Bissau is the relatively low level of revenue compared with other sub-Saharan African (SSA) countries. Fiscal revenues, including grants, trended downward significantly in Guinea-Bissau from 1991 through 2005, especially during the...

This Selected Issues paper assesses the fiscal risk impact of various events in Tonga and describes the challenges implied for fiscal management. The paper discusses that the Tongan government has made various efforts to limit the budgetary implications of the recent economic and political...

Spanien befindet sich in einer inneren Krise mit politischem Führungschaos. Der Wunsch in der Bevölkerung nach einer politischen Wende könnte bei Neuwahlen zu einem Wahlsieg der konservativen Partei führen. Das labile politische Umfeld bis ins Jahr 1996 stellt für die Wirtschaftspolitik...

Das reale Bruttoinlandsprodukt, das 1991 nur um 1,3% gewachsen war, wird sich in diesem Jahr um etwa 1,5%, bestenfalls um 2% erhöhen. Die Konjunkturbelebung wird recht verhalten sein, so daß das Wirtschaftswachstum auch 1993 nur etwa 2,5% erreichen dürfte. Die Beschäftigung wird im Laufe des...