Africa Faces New Shock as War Raises Food and Fuel Costs
The effects of the war in Ukraine leave policymakers with little room to maneuver.
Asia Growth Slows on Commodities, Covid and Rising Interest Rates
Region’s policymakers face difficult policy trade-offs and should protect the most vulnerable from rising fuel and food costs while enacting economic reforms to boost long-term growth.
War in Ukraine is Serious Setback to Europe’s Economic Recovery
Ukraine and Russia face the sharpest economic contractions, but other countries could also fall into recession this year.
Governments Need Agile Fiscal Policies as Food and Fuel Prices Spike
Spending imperatives from pandemic and war meet high debt and tight budget constraints.
Tax Coordination Can Lead to a Fairer, Greener Global Economy
Cooperation across countries can raise revenue, tackle inequality, and fight climate change.
Rethinking Fiscal Policy and Debt for a Post-Pandemic World
Nearly a century ago, Joseph Schumpeter wrote, “The spirit of a people, its cultural level, its social structure…all this and more is written in its fiscal history…. The public finances are one of the best starting points for an investigation of society.”
Pandemic Tests Resilience and Credibility of Fiscal Rules
Record debt and deficits during the pandemic prompted many nations to suspend their fiscal rules.
Sharing the Gains of Automation: The Role of Fiscal Policy
Careful calibration of spending and tax policies can reduce inequality caused by automation.
Fiscal Policy for an Uncertain World
As public debt rises to record levels, countries need to calibrate fiscal policies to their own unique circumstances.
When It Comes to Public Finances, Credibility Is Key
Raphael Espinoza, Vitor Gaspar, and Paolo Mauro
Ending the health crisis and addressing its immediate fallout remains the top priority, but governments would also benefit from committing to fiscal responsibility.