Second, stay the course on sound macroeconomic policies. In times of uncertainty, markets will scrutinize fundamentals.

In a speech at CEPS in Brussels, IMF European Department Director Alfred Kammer outlines how Europe can secure growth and ...

This paper presents a novel approach to addressing VAT regressivity, by proposing the adoption of a progressive VAT: a single-rate, broad-base, VAT, whereby tax paid on consumption is re-paid to lower ...

Disclaimer: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors ...

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those ...

On October 30, 2020, the IMF’s Executive Board reviewed the adequacy of the Fund’s precautionary balances. Precautionary balances, comprising the Fund’s general and special reserves and the Special ...

Digitalization is reshaping economic activity, shrinking the role of cash, and spurring new digital forms of money. Central banks have been pondering wheter and how to adapt. One possibility is ...

The growing role of nonbanks in corporate credit intermediation raises important but underexplored questions about how both monetary policy (MP) and macroprudential policies (MaPP) affect lending and ...

Policymakers should broaden central clearing and monitor market-making, including by nonbank financial institutions, while dealers must continue to build resilience ...

This paper examines the impact of e-invoicing on firm tax compliance and performance using administrative tax data and quasi-experimental variation in the rollout of VAT electronic invoicing in Peru.

The global central banking community is actively exploring Central Bank Digital Currencies (CBDCs), which may have a fundamental impact on both domestic and international economic and financial ...

In August-September 2024, the IMF's Monetary and Capital Markets Department assisted the Central Bank of Comoros (BCC) in operationalizing a special resolution regime under the Law on the Recovery and ...