Budget | IMF Blog

Managing the revenue from natural resources—what’s a Finance Minister to do?

(Versions in Español)

The Finance Minister answers her mobile. On the line is the Minister of Energy, who informs her that the country has struck oil and that he expects revenues from its sale to start flowing into the budget in the coming four years. While excited by the prospects of higher revenues—indeed the average resource-rich country gets more than 15 percent of GDP in resource revenues—she starts to ponder how to use these revenues for her country’s development. She is aware that only in rare cases have natural resources served as a catalyst for development; too often they have led to economic instability, corruption, and conflict or what has been termed as “the resource curse.”

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By IMFBlog| June 9th, 2014|Economic research, Finance, Financial regulation, Fiscal policy, growth, IMF, International Monetary Fund, Investment, Reform, Uncategorized|

Still Some Hurdles On The Fiscal Path

By Martine Guerguil

(Versions in 中文, Français, 日本語, Русский, and Español)

Five years into the crisis, the fiscal landscape remains challenging. On the positive side, deficit-cutting efforts and the first signs of recovery reduced the fiscal stress felt in many advanced economies; but debt ratios often remain at historical peaks. At the same time, slowing growth and rising borrowing costs, combined with unabated demands for improved public services, puts pressure on government budgets in emerging market economies.

So we created an index of ‘fiscal difficulty’ that shows the biggest challenge ahead for advanced economies is to maintain budget surpluses until debt ratios return to lower levels. We expect this will take several years.

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By IMFBlog| October 9th, 2013|Advanced Economies, Economic outlook, Economic research, Emerging Markets, Employment, Finance, growth, International Monetary Fund, Low-income countries, Public debt, Uncategorized|

An Open and Diverse Economy To Benefit All Algerians

Christine Lagarde, Managing Director of the IMF was in Algeria last week where she met with Algerians from all walks of life and discussed the country's priorities to generate more inclusive growth.

By IMFBlog| March 18th, 2013|Africa, International Monetary Fund|

Seeing Our Way Through The Crisis: Why We Need Fiscal Transparency

Without good fiscal information, governments can’t understand the fiscal risks they face or make good budget decisions. Fiscal transparency—the public availability of timely, reliable, and relevant data on the past, present, and future state of the public finances—is thus to the foundation of effective fiscal management.

By IMFBlog| November 1st, 2012|Advanced Economies, Employment, Europe, Finance, Fiscal policy, growth, IMF, Inequality, International Monetary Fund, Politics, Public debt|

Euro Muscles in Brussels: Christine Lagarde on Greece

The head of the IMF Christine Lagarde was clear during her press conference—European leaders deal to help Greece and the euro area is a very constructive and comprehensive package of measures to resolve debt problems.

By IMFBlog| July 22nd, 2011|Advanced Economies, Economic Crisis, Europe, IMF, International Monetary Fund|