Series: Departmental Papers / Policy Papers
Author(s): Lusine Lusinyan , Aliona Cebotari , Ricardo Velloso , Jeffrey Davis , Amine Mati , Murray Petrie , and Paolo Mauro
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 29 January 2009
Keywords: Budgets, Debt sustainability, Government expenditures, Fiscal sustainability, Public debt, Risk management, fiscal risks, contingent liabilities, fiscal risk, fiscal transparency
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 sustaina...