In São Paulo, Brazil last Friday we launched our latest assessment of the state of government finances, debts, and deficits. While many countries are slogging through a tough fiscal time, there is some good news, including in the United States where the deficit will be lower this year than previously expected. I will also give you an assessment of how the new information affects our sense of what needs to be done in the future.
Let me start by talking about the advanced economies where, as is well known, the fiscal accounts are generally weaker, reflecting large increases in deficits and debt ratios since the start of the crisis in 2008. (more…)
Filed under: Advanced Economies, Asia, Economic Crisis, Emerging Markets, Employment, Europe, Fiscal policy, growth, IMF, Latin America, Low-income countries, Public debt | Tagged: Brazil, debt, deficits, Europe, Japan, public debt, São Paulo, United States | 1 Comment »