Imf Engagement On Education Spending In Surveillance And Program Work
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IMF Engagement on Education Spending in Surveillance and Program Work
Author: Mauricio Soto
language: en
Publisher: International Monetary Fund
Release Date: 2025-04-28
Engaging on education spending supports the delivery on the Fund’s macroeconomic mandate. Education is a key determinant of economic growth and development and plays a fundamental role in reducing inequalities. Public intervention in education is widespread and is generally justified on both efficiency and equity grounds. Large gaps exist across countries in both education access and learning outcomes. Following the IMF’s 2019 social spending strategy, this note provides guidance to staff on how to engage on education spending issues in surveillance and program context. The engagement is guided by an assessment of macro-criticality which can arise through three channels: spending adequacy, spending efficiency and fiscal sustainability. This note aims to guide staff on how to assess these channels. The extent and purpose of engagement on macro-critical education spending issues may vary across countries and programs. In surveillance contexts, focus on macro-critical education issues is warranted if such issues affect or have the potential to affect domestic or external stability. In program settings, engagement on macro-critical education issues may arise when such issues are critical to achieve program objectives or to monitor program implementation. When engaging on macro-critical education spending issues, it is important to collaborate with development partners.
IMF Engagement on Health Spending Issues in Surveillance and Program Work
Author: Mauricio Soto
language: en
Publisher: International Monetary Fund
Release Date: 2023-12-22
IMF country teams have become increasingly engaged on health spending issues in surveillance and program work, and more so since the COVID-19 pandemic. The primary objectives of health spending are to improve health outcomes and provide protection to households against high financial costs of health care. The Fund’s engagement on health spending issues is guided by an assessment of its macro-criticality, with the scope and purpose of engagement varying across countries and depending on whether it occurs in surveillance or program contexts. This technical note discusses how to assess the macro-criticality of health spending and reviews appropriate policy responses. The design and implementation of macro-critical health reforms often require specific sectoral knowledge and experience. Thus, this note emphasizes the importance of collaborating with development partners on health policy issues.
IMF Engagement on Pension Issues in Surveillance and Program Work
Author: International Monetary
language: en
Publisher: International Monetary Fund
Release Date: 2022-06-15
The International Monetary Fund (IMF) is increasingly involved in offering policy advice on public pension issues to member countries. Public pension spending is important from both fiscal and welfare perspectives. Pension policy and its reforms can have significant fiscal and distribution implications, can influence labor supply and labor demand decisions, and may impact consumption and savings behavior. This technical note provides guidance on assessing public pension systems’ macrocriticality, i.e., sustainability, adequacy, and efficiency; it also discusses the issues and policy trade-offs to be considered when designing responses aiming to address these dimensions of the pension system. The paper emphasizes the importance of taking a long-term, comprehensive perspective when evaluating public pension spending and providing policy advice. Where feasible, reforms should be gradual and transparent to allow individuals ample time to adjust their work and savings decisions and to facilitate consumption smoothing over their lifecycle to avoid poverty in old age. It is also important to ensure that pension systems’ design and reforms do not lead to undesirable impacts in other policy areas including general tax compliance, health insurance coverage, labor force participation among older workers, or labor market informality. The paper emphasizes the importance country-specific social and economic objectives and constraints, as well as political economy realities – factors that can determine whether a pension reform is a success or failure.