This paper reviews the trade-offs in Switzerland, focusing on challenges for fiscal policy coordination. It reviews the benefits and costs of a highly decentralized government, describes the Swiss institutional architecture, and analyzes Switzerland’s fiscal performance. It also discusses...

The Chadian authorities have requested a staff-monitored program (SMP) during April–October 2009 to demonstrate improvements in fiscal policy and public financial management. The objective is to re-establish their economic management and reform credentials with international development...

This paper reviews the performance of Guinea-Bissau Under the program supported by Emergency Post-Conflict Assistance (EPCA). Guinea-Bissau has made progress in stabilizing its fiscal situation under difficult circumstances and is moving steadily to implement structural reforms. Four of the six...

This paper discusses findings of the Fourth Review Under the Policy Support Instrument and findings of the Second Review Under the Exogenous Shocks Facility for Senegal. All quantitative assessment (performance) criteria were met, notably the targets for the fiscal deficit and the budgetary...

This paper analyzes recent fiscal policies of nonrenewable resource exporting countries in Latin America and the Caribbean in the context of sharp swings in resource prices. Fiscal policies were predominantly procyclical during the boom period 2003-08 but to significantly differing degrees...

This paper focuses on post-crisis fiscal priorities in the ASEAN-5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand. Sound economic fundamentals and timely and forceful policy responses to the crisis, including fiscal stimulus, contributed to rapid economic recovery in the...

This paper discusses key findings of the Second Review Under the Poverty Reduction and Growth Facility (PRGF) for Georgia. All quantitative performance criteria (PCs) for end-December 2004 were met, but the indicative target on reserve money growth was exceeded, mainly because of large...

When policymakers have little option but to consider a sizable fiscal adjustment, they are confronted by the following questions: Can a large fiscal adjustment be implemented succesfully? How is a large adjustment best designed and implemented? What will be its impact on the economy? This...

This paper discusses experiences in reestablishing fiscal management in postconflict countries. Building fiscal institutions in postconflict countries essentially entails a three-step process: (1) creating a legal or regulatory framework for fiscal management; (2) establishing or strengthening...