Fiscal Risks: Sources, Disclosure, and Management
Murray Petrie (),
Jeffrey Davis and
Paolo Mauro ()
No 2009/001, IMF Departmental Papers / Policy Papers from International Monetary Fund
This paper analyzes the main sources of fiscal risks, including from unexpected changes in macroeconomic variables and banking crises, which can have major consequences for countries fiscal and public debt sustainability. It builds on an overview of existing practices in a wide range of countries to provide practical suggestions on how to promote disclosure of such risks and on risk mitigation and management. The paper was written in response to requests from IMF member countries for advice on this subject. The paper also includes an example of a possible statement of fiscal risks.
Keywords: DPPP; DP; fiscal risk; guarantee; debt management; interest rate; contingency reserve; risk mitigation; exchange rate; economic growth; Fiscal risks; Contingent liabilities; Budget planning and preparation; Africa (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfdps:2009/001
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