By Raphael Espinoza, Vitor Gaspar and Paulo Mauro, includes “Addressing the health emergency remains crucial … The appropriate timing for starting to reduce deficits and debt will depend on country-specific conditions. … But governments also need to consider fiscal risks and the vulnerability to future crises. … Strong budget rules and institutions, backed by clear communication and fiscal transparency, enhance credibility. That, in turn, improves access to credit and secures more room for maneuver in times of crisis.”
Read the full article on: IMF Blog