IMF / PUBLIC DEBT

19-Apr-2017 00:01:49
In its latest Fiscal Monitor issue, the International Monetary Fund (IMF) said that the public debt of advanced economies will remain at 100 percent of gross domestic product for the foreseeable future, though emerging markets should show improvement. IMF
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STORY: IMF / PUBLIC DEBT
TRT: 1:49
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH /NATS

DATELINE: 19 APRIL 2017, WASHINGTON DC, USA
SHOTLIST
1. Med shot, IMF entrance
2. SOUNDBITE (English) Vitor Gaspar, Director, Fiscal Affairs Department at the IMF:
“Let me start with emerging markets. In the last few years, budget deficits in emerging markets have gone up. Now, this year and next, we expect them to come down. That’s mostly due to oil exporters, where we do expect a fall of the fiscal deficit by 150 billion over these two years.”
3. Med shot, Gaspar talking
5. SOUNDBITE (English) Vitor Gaspar, Director, Fiscal Affairs Department at the IMF:
“Last 30 years or so, inequality has increased in most advanced economies and in some large economies like China and India. At this point in time, you see that many people around the world are concerned that their children may not be as well-off as themselves. What we emphasize in the Fiscal Monitor is that public policies -- taxation and public expenditures -- can play a very important role making sure that the benefits from growth are widely shared.”
6. Med shot, Gaspar talking
SOUNDBITE (English) Vitor Gaspar, Director, Fiscal Affairs Department at the IMF:
“Eliminating barriers to the growth of the most productive firms can add about one percentage point to growth over 20 years. This is a very large productivity effect. On the policy side, we emphasize that tax policy and revenue administration reforms can help countries achieve these goals.”
7. Wide shot, IMF World Bank Group Spring Meetings sign
STORYLINE
In its latest Fiscal Monitor issue, the International Monetary Fund (IMF) said that the public debt of advanced economies will remain at 100 percent of gross domestic product for the foreseeable future, though emerging markets should show improvement.

The head of the IMF’s Fiscal Affairs Director Vitor Gaspar said Wednesday (19 Apr) that emerging markets should reverse recent budget deficit growth.

Gaspar said “in the last few years, budget deficits in emerging markets have gone up. Now, this year and next, we expect them to come down. That’s mostly due to oil exporters, where we do expect a fall of the fiscal deficit by 150 billion over these two years.”

He also pointed to strategies countries can adopt to address income inequality.

IMF’s Fiscal Affairs Director said “the last 30 years or so, inequality has increased in most advanced economies and in some large economies like China and India. At this point in time, you see that many people around the world are concerned that their children may not be as well-off as themselves. What we emphasize in the Fiscal Monitor is that public policies -- taxation and public expenditures -- can play a very important role making sure that the benefits from growth are widely shared.”

Gaspar said countries can also help boost productivity.

He said “eliminating barriers to the growth of the most productive firms can add about one percentage point to growth over 20 years. This is a very large productivity effect. On the policy side, we emphasize that tax policy and revenue administration reforms can help countries achieve these goals.”
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