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The OECD monitors fiscal policies. Assessments shape the macroeconomic projections and policy recommendations. Work also examines the longer-term debt dynamics and sustainability of public finances, the role of fiscal policy in a monetary union and the interaction between fiscal and monetary policy.
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04-Nov-2009
Following the severe contraction of the economy, the main economic challenges in rebalancing the economy include raising competitiveness, restoring the financial system to health, fiscal consolidation and avoiding high long-term unemployment.
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23-Oct-2009
Following the publication in July 2009 of the OECD Economic Survey on Greece, the attached op-ed, signed by Andrew Dean Director of Country Studies at the OECD Economics Department, was published in the Greek newspaper Kathimerini the week after the elections of October 4, 2009. The article aims at enhancing the OECD policy message about the pressing need for Greece to improve its government financial situation and efficiency of the public sector during this current legislature.
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16-Oct-2009
Monetary and fiscal policies face huge challenges: the banking sector has collapsed; the economy is in the midst of a deep recession; the exchange rate has plunged; capital flows have been frozen; inflation is elevated; public debt has risen; source of revenues have disappeared; social needs have increased; and the unemployment insurance fund has been nearly depleted.
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16-Oct-2009
The global financial and economic crisis has struck Iceland with extreme force. Iceland’s three main banks, accounting for almost all of the banking system, failed in October 2008. They were unable to resist the deterioration in global financial markets following the failure of Lehman Brothers.
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30-Sep-2009
Japan has been hard-hit by the global financial crisis. Its main economic challenges include raising its growth potential, upgrading the financial sector, resolving its fiscal problem, reforming health care and improving climate change policies.
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