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In an environment of tepid growth and persistent downside risks, finding ways to enhance fiscal policy's ability to smooth the effect of shocks to economic activity is high on the policy agenda. Fiscal policy has often been used to reduce output volatility. As is clear from the evidence gathered in this Fiscal Monitor, fiscal policy has served this purpose for 30 years.

The Fiscal Monitor was launched in 2009 to survey and analyse the latest public finance developments, update fiscal implications of the crisis and medium-term fiscal projections, and assess policies to put public finances on a sustainable footing. It is prepared twice a year by the IMF's Fiscal Affairs Department.

Clearly, great macroeconomic challenges lie ahead. The World Economic Outlook provides readers with key insights into how to view unprecedented global imbalances, respond to capital account crises caused by abrupt shifts in global asset allocations, and evaluate the opportunities for all member countries, especially low-income countries, to grow.

Provides an assessment of global financial markets and addresses emerging market financing in a global context. The Global Financial Stability Report focuses on relevant contemporary issues and regularly contains special features on structural or systemic issues that are critical to international financial stability.

The outlook for the Asia-Pacific region remains robust - the strongest in the world, in fact - and recent data point to a pickup in momentum. The near-term outlook, however, is clouded with significant uncertainty, and risks, on balance, remain slanted to the downside. Medium-term growth faces secular headwinds, including from population aging and sluggish productivity.

Growth momentum in sub-Saharan Africa remains fragile, marking a break from the rapid expansion witnessed since the turn of the millennium. 2016 was a difficult year for many countries, with regional growth dipping to 1.4%. A modest recovery in growth of about 2.6% is expected in 2017.

Drawing on an expanded data set covering emerging markets and low-income countries as well as advanced economies, this text examines the extent and makeup of global debt and asks what role fiscal policy can play in facilitating the adjustment. The analytical framework explicitly models the interlinkages between private and public debt in analysing the role of fiscal policy in the deleveraging process.

Economic growth in sub-Saharan Africa as a whole has fallen to its lowest level in 15 years, though with large variation among countries in the region. This report examines sub-Saharan Africa's vulnerability to commodity price shocks, and documents the substantial progress made in financial development, especially financial services based on mobile technologies.

Describes the policies and economic reforms needed to address the declining productive capacity in Latin America and the Caribbean. Three chapters assess corporate vulnerabilities in Latin America, analyse the degree of exchange rate pass-through in the region, and evaluate trends in public and private infrastructure investment.

It is critical to identify policies that could lift productivity growth by promoting innovation. Fiscal policy can play an important role in stimulating innovation through its effects on research and development, entrepreneurship, and technology transfer.

Multilateral surveillance of fiscal developments, a key part of the IMF's surveillance responsibilities, has increased in importance. In response, the Fiscal Monitor was launched in 2009 to analyse the latest public finance developments, update fiscal implications of the crisis and medium-term fiscal projections, and assess policies to put public finances on a sustainable footing.

Recent economic developments and prospects for the region are discussed as a whole, as well as for specific countries. Includes key data for countries in the region. Focuses on policy developments that have affected economic performance in the region, and discusses key challenges faced by policymakers. The near-term outlook, key risks, and their related policy challenges are analysed.

Finds that the global financial system continues to strengthen in response to policy support, regulatory enhancements, and the cyclical upturn in growth. It also includes a chapter that examines the short- and medium-term implications for economic growth and financial stability of the past decades' rise in household debt.

Discusses recent economic developments and prospects for the region as a whole, as well as for specific countries. Each report focuses on policy developments that have affected economic performance in the region, and discusses key challenges faced by policymakers. The near term outlook, key risks, and their related policy challenges are analysed throughout, and current issues are explored.

Prepared by the Policy Wing of the IMF African Department, and published twice a year in English and French, this title analyzes economic performance and short-term prospects of the 44 countries covered by the Department.

The April 2019 GFSR finds that despite significant variability over the past two quarters, financial conditions remain accommodative. As a result, financial vulnerabilities have continued to build in the sovereign, corporate, and nonbank financial sectors in several systemically important countries, leading to elevated medium-term risks.

Analyses the latest public finance developments and medium-term fiscal projections. It also assesses policies aimed at placing public finances on a sustainable footing.