Fiscal Monitor 2013 (IMF)

Fiscal Monitor – Fiscal adjustment in an uncertain world published by IMF (4/2013). “Debt dynamics have remained relatively positive in most emerging market economies and low-income countries, and most plan to continue to allow the automatic stabilizers to operate fully, while pausing the underlying fiscal adjustment process. Those with low general government debt and deficits can afford to maintain a neutral stance in response to a weaker global outlook. But countries with relatively high or quickly increasing debt levels are exposed to sizable risks, especially once effective interest rates rise as monetary policy normalizes in the advanced economies and concessional financing from advanced economies declines.”  – and transcript of a press conference on the Fiscal Monitor: