Development and
Cooperation

Digital monthly 12/2022

Fiscal space in multiple crisis

Zambia

Copper price determines economic fate

Zambia's economic development is characterised by ups and downs

Zambia

New money helps bail out bankrupt state

Zambia has often relied on IMF aid in recent decades

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IMF

The role of the IMF in the global debt crisis

How the IMF is delaying the debt crisis with its practice – a reform of debt policy is needed

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Public finance

Do not only tax consumption

Three essential aspects of improving tax revenues

Government revenues

How to increase the fiscal space

The budgets of many developing countries and emerging markets are far too constrained

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Global governance

G20 leaders are “not in a state of denial”

Indonesian economist assesses results of Bali summit in November 2022

Informal sector

Broadening the tax base by registering informal workers

So far, only 6 million people pay taxes in Kenya

Our view

More fiscal space is needed when states prove too “small”

In response to multiple crises, governments must be able to invest assertively

Government revenues

Kenya’s new president wants to collect more tax money

Kenya’s huge public debt is choking public spending and undermining the economy

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Economic crisis

Heavily indebted already, Islamabad wants more loans

Pakistan’s economic problems are rooted in structural weaknesses

Gender disparities

South Asian gender disparities get worse in economic crises

Economic downturns hit women and girls harder – for example in Pakistan

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Macroeconomics

The heavy burden of a strong dollar

How the fast appreciating US currency is causing stress in developing countries and emerging markets