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STORY: IMF / FISCAL MONITOR REPORT PRESSER
TRT: 03:13
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: NATS
DATELINE: 23 APRIL 2025, WASHINGTON DC / RECENT
RECENT, WASHINGTON DC
1. Various shots, IMF exteriors with Spring Meetings 2025 signage
23 APRIL 2025, WASHINGTON DC
2. Zoom out, press conference dais
3. SOUNDBITE (English) Vítor Gaspar, Director of Fiscal Affairs Department, International Monetary Fund (IMF):
“Since the last fiscal monitor in October 2024, global economic prospects have significantly deteriorated and risks to the economic outlook are elevated and tilted to the downside. Uncertainty is very high, and confidence has been weakening. Financial markets have partially corrected, and financing conditions have tightened. Global public debt is very high and rising,”
4. Various shots, presser
5. SOUNDBITE (English) Vítor Gaspar, Director of Fiscal Affairs Department, International Monetary Fund (IMF):
"Putting house in order involves three policy priorities. First, fiscal policy should be part of an overall stability-oriented macroeconomic policies. Second, fiscal policies should, in most countries, aim at reducing public debt and rebuilding buffers to create space. To respond to spending pressures and other economic shocks through a credible medium-term framework. Third, fiscal policy should, together with other structural policies, aim at improving potential growth, thereby easing policy trade-offs. In these times of high uncertainty, fiscal policy must be an anchor for confidence and stability that contributes to a competitive economy.”
6. Various shots, presser
RECENT, WASHINGTON DC
7. Various shots, IMF exteriors with Spring Meetings 2025 signage
Global debt is on a rising path following trade and market turmoil, the IMF announced in the Fiscal Monitor Report released today (23 Apr) in Washington, DC.
“Since the last fiscal monitor in October 2024, global economic prospects have significantly deteriorated and risks to the economic outlook are elevated and tilted to the downside. Uncertainty is very high, and confidence has been weakening. Financial markets have partially corrected, and financing conditions have tightened. Global public debt is very high and rising,” said IMF Director of Fiscal Affairs Department Vitor Gaspar.
The IMF sees the global economy slowing, but not yet bound for recession, a respite that could be a cushion period for governments to make spending adjustments to bring down deficits and debt.
"Putting house in order involves three policy priorities. First, fiscal policy should be part of an overall stability-oriented macroeconomic policies. Second, fiscal policies should, in most countries, aim at reducing public debt and rebuilding buffers to create space. To respond to spending pressures and other economic shocks through a credible medium-term framework. Third, fiscal policy should, together with other structural policies, aim at improving potential growth, thereby easing policy trade-offs. In these times of high uncertainty, fiscal policy must be an anchor for confidence and stability that contributes to a competitive economy,” said Gaspar to reporters gathered for the Annual Meetings of the IMF and World Bank this week.
But policy makers should look for smart ways to trim budgets, and ones that maintain equitable and fair revenue from taxes, while maintaining important investments in people, technology and infrastructure that support growth.
