COVID-19: How to Record Government Policy Interventions in Fiscal Statistics

March 2, 2021 at 14:00-15:30 Vienna time (CET)

Introduction
Mr. Hervé Joly, Director, Joint Vienna Institute 

Presenter
Mr. Philip Stokoe, Senior Economist, Government Finance Division, Statistics Department, International Monetary Fund


The ongoing COVID-19 pandemic has seen governments across the world adopt a large number of different fiscal support measures geared at protecting lives and livelihoods. This has included interventions aimed at supporting businesses to get through the crisis, or providing emergency financial support, both directly and indirectly, to households and other measures to mitigate the economic downturns caused by the lockdowns and impacts of Covid on consumer and business behavior.

While many of these interventions are straightforward, new or novel forms of fiscal policy, such as furlough schemes, raise questions on how these forms of government spending should be recorded in fiscal statistics. The IMF Government Finance Division produced a guidance note, near the start of the crisis, to explain how the various interventions should be recorded, under the IMF’s Government Finance Statistics Manual 2014.

This webinar will provide an overview of the guidance note, as well as offer the opportunity to ask questions about the recording of specific interventions in your country.

The webinar will be held in English, with simultaneous interpretation into Russian.

Participants are encouraged to ask written questions to the presenters using the webinar’s chat forum.

To participate in the webinar please sign up here.

A list of JVI webinars on topical issues in the field of financial stability, fiscal policy, and macroeconomics can be found here.

The schedule of JVI courses—including virtual courses—can be found here.

We look forward to continuing our engagement with you!

Hervé Joly, Director (JVI)

Presentation

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