Fiscal Transparency in CESEE

Friday, July 30, 2021 at 15:00-16:00 Vienna time (CEST)

Ms. Silvia Domit, European Department, International Monetary Fund
Ms. Nujin Suphaphiphat, European Department, International Monetary Fund

Mrs. Barbara Dutzler, Joint Vienna Institute

In the wake of the current global health crisis, fiscal transparency concerns have come to the forefront of discussion. Fiscal risks related to public investment, subnational governments, public guarantees, and state-owned enterprises (SOEs) have increased in CESEE countries, following the strong fiscal response to the COVID pandemic.

While research has shown that fiscal transparency is critical to effective fiscal management and accountability, lack of fiscal transparency has contributed to periods of macroeconomic stress and sovereign debt crises in European countries. Underestimated fiscal risks and deficient fiscal reporting have led to large unexpected debt increases during the global financial crisis.

Drawing on the results of a recent IMF survey on fiscal transparency and putting a spotlight on Central, Eastern and Southeastern European economies, this JVI Webinar will discuss evidence from European countries on how fiscal transparency improves government efficiency and reduces corruption vulnerabilities. Lessons from case studies and best practices as well as policy recommendations on managing fiscal risks with a special emphasis on public debt will be presented.

The webinar will be held in English, with simultaneous translation 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)

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