IMF calls for fiscal consolidation in anticipation of next crisis

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The International Monetary Fund has stressed the importance of fiscal consolidation as tighter financial conditions and higher debt levels increase risks globally.

“We continue to advise countries to use the cyclical upswing to build fiscal space for the next downturn and strengthen public sector balance sheets,” said Vitor Gaspar, the director of the fiscal affairs department, after the publication of the Fiscal Monitor today (October 10).

“The current expansion will not continue forever,”

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