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A rule-based medium-term fiscal policy framework for Tanzania /
A zero net domestic financing (NDF) target has served Tanzania well in recent years, contributing to prudent expenditure policy, improved fiscal sustainability, and macroeconomic stability. Moving to a more flexible fiscal policy, however, may serve Tanzania better. The "diamond rule" prop...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington D.C.] :
International Monetary Fund,
©2009.
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| Colección: | IMF working paper ;
WP/09/244. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | A zero net domestic financing (NDF) target has served Tanzania well in recent years, contributing to prudent expenditure policy, improved fiscal sustainability, and macroeconomic stability. Moving to a more flexible fiscal policy, however, may serve Tanzania better. The "diamond rule" proposed in this paper incorporates a permanent hard ceiling on debt and annual benchmark limits on NDF, expenditure growth, and nonconcessional external financing. This rule would provide flexibility for countercyclical policy and help define the fiscal space for infrastructure spending that is consistent with longrun fiscal sustainability. An illustrative simulation shows that Tanzania has considerable fiscal space for development spending. |
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| Descripción Física: | 1 online resource (29 pages) : illustrations |
| Bibliografía: | Includes bibliographical references (page 29). |
| ISBN: | 9781452772257 1452772258 1462380980 9781462380985 9786612844430 6612844434 1282844431 9781282844438 |