Fiscal Policy and Public Investment

"But we should state one thing very clearly. Monetary and financial policies cannot do the job alone. Fiscal policy must play a central role."

–Kristalina Georgieva, IMF Managing Director

Fiscal Monitor 

Global warming is threatening our planet and living standards around the world, and the window of opportunity for containing climate change to manageable levels is closing rapidly. Carbon dioxide (CO2) emissions are a key driver of this alarming trend. Fiscal policy has an important role to play. This issue of the Fiscal Monitor argues that policymakers need to act urgently to mitigate climate change and thus reduce its damaging and deadly effects, including rising sea levels and coastal flooding, more frequent extreme weather events, and disruption to our food supply—key issues affecting all people globally. Full Report



Taxation of Offshore Indirect Transfers of Assets

Natural resources often rank among a country’s most valuable assets. This is true for real estate in general but also for rights such as telecommunications licenses. Sales of such assets may therefore give rise to large gains for the seller—and commensurate revenue expectations in the country where those assets are located. However, through offshore holding structures sellers often escape taxation altogether. Why, and what can countries—in particular low-income The ingredients of successful Fund programs countries—do to avoid losing valuable tax revenue? 


The Platform for Collaboration on Tax Invites Final Comments on a Revised Version of its Report on the “Taxation of Offshore Indirect Transfers of Assets”

Corporate Taxation in the Global Economy



Nigeria: Strengthening Domestic Revenue Mobilization

Speaker: Mrs. Zainab Shamsuna Ahmed, Minister of Finance, Budget and National Planning of Nigeria

Moderator: Mr. Abebe Aemro Selassie, Director of African Department



Corporate Taxation in the Global Economy

Publication Date: March 10, 2019 


The policy paper Corporate Taxation in the Global Economy stresses the need to maintain and build on the progress in international cooperation on tax matters that has been achieved in recent years, and in some respects now appears under stress. With special attention to the circumstances of developing countries, the paper identifies and discusses various options currently under discussion for the international tax system to ensure that countries, and in particular low-income countries, can continue to collect corporate tax revenues from multinational activities.


KEY ISSUES: Fiscal Issues at the IMF

At the fiscal forefront

Fiscal policy affects macroeconomic stability, growth, and income distribution. Citizens expect their governments to ensure value-for-money for public spending, a fair and efficient tax system, and transparent and accountable management of public sector resources.


Fiscal Policy and Development : Human, Social, and Physical Investments for the SDGs

Publication Date: January 23, 2019 

The goal of this paper is to estimate the additional annual spending required for meaningful progress on the SDGs in these areas. Our estimates refer to additional spending in 2030, relative to a baseline of current spending to GDP in these sectors. Toward this end, we apply an innovative costing methodology to a sample of 155 countries: 49 low- income developing countries, 72 emerging market economies, and 34 advanced economies. And we refine the analysis with five country studies: Rwanda, Benin, Vietnam, Indonesia, and Guatemala.

The Future of Saving : The Role of Pension System Design in an Aging World

Publication Date: January 15, 2019 

This SDN explores how demographic changes have affected and will affect public and private sector savings, highlighting the interaction between pension systems, labor markets, and demographic variables.


Public Investment Management Assessment - Review and Update

Publication Date: May 10, 2018

Public Investment Management Assessments (PIMAs) are the IMF‘s key tool for assessing infrastructure governance over the full investment cycle and supporting economic institution building in this area.