The Fiscal Space
Today, the world faces a $4 trillion financing gap to achieve the Sustainable Development Goals (SDGs). That cannot come from aid alone. Most must be raised by the countries themselves. Governments need to create more fiscal space, defined by the International Monetary Fund (IMF) as the room in a government’s budget to fund national priorities, such as education or climate adaptation, without jeopardizing the sustainability of its fiscal position or the stability of the economy.
Présentation
Governments can create fiscal space by raising taxes, securing outside grants, cutting expenditures, borrowing resources (from citizens or foreign lenders), or borrowing from the banking system (thereby expanding the money supply).
Many exciting ideas are being generated and experiments tested to generate more fiscal space for development and climate finance. Here we offer an up-to-date sampling of perspectives from researchers, advocates, and funders. We will continue to update these.
This site is curated and developed by the Trust, Accountability and Inclusion Collaborative (TAI) as a resource for philanthropy to inform investment in fiscal issues.
Why care about accountable, effective public spending? Too often public resources are being spent unfairly and ineffectively, leaving millions of people without access to quality public goods and services. Transparent and accountable spending is also more immune to corruption. More Details
A recent report by the Independent Expert Group on Debt, Nature, and Climate reveals that many of the world’s 144 developing economies are on an unsustainable fiscal trajectory.
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