Growth, poverty reduction, and social peace are all undermined when public expenditure management and taxation are weak and when the fiscal deficit and public debt are not managed successfully. And large-scale aid and debt relief cannot work without a good fiscal system. The macroeconomic...

Fiscal policy is critical to the development of poor countries. Public spending on pro-poor services and public goods must be increased, tax revenues must be mobilized, and macro-economic stabilization must be achieved without inhibiting growth, poverty reduction and post-conflict...