Fiscal Management of Scaled-Up Aid
AbstractThis paper discusses the role of fiscal policy and fiscal institutions in managing scaled-up aid. In an environment of volatile scaled-up aid, fiscal policy formulation should be anchored in medium-term frameworks, incorporating a longer-term view of potential resource availability and spending plans. There is merit in smoothing expenditures over time so that all programs are adequately funded. The paper argues that wage-bill ceilings should be used in Fund-supported programs only in exceptional cases. The paper also discusses basic reforms for strengthening public financial management systems for effective utilization of scaled-up aid flows.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 07/222.
Date of creation: 01 Sep 2007
Date of revision:
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Postal: International Monetary Fund, Washington, DC USA
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This paper has been announced in the following NEP Reports:
- NEP-AFR-2007-11-03 (Africa)
- NEP-ALL-2007-11-03 (All new papers)
- NEP-DEV-2007-11-03 (Development)
- NEP-MAC-2007-11-03 (Macroeconomics)
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- Ezequiel Cabezon & Tej Prakash, 2008. "Public Financial Management and Fiscal Outcomes in sub-Saharan African Heavily-Indebted Poor Countries," IMF Working Papers 08/217, International Monetary Fund.
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