Nusa Dua, Bali, Indonesia – October 10, 2018

1. Wide IMF officials before briefing on Fiscal Monitor
2. Mid journalists at news conference
3. SOUNDBITE: (English) Vitor Gaspar, IMF Fiscal Affairs Department Director:
“Risks are looming closer and some of the risks have already materialized. It is time to build fiscal space against the next downturn.”
3. Mid IMF officials at. briefing
4. SOUNDBITE: (English) Vitor Gaspar, IMF Fiscal Affairs Department Director:
“We believe that China should be emphasizing the quality of growth more than the quantity of growth. As I said in the introductory remarks, it is very important that the pace of leveraging in China eases, which is something that has already happened in 2016 and 2017, and it is visible in any chart that you may consider. So, the rebalancing of China from investment to consumption, from exports to domestic demand, from credit fueled growth to a sounder basis to growth, more compatible with financial stability. All these elements are crucial.”
5. Close reporter asking question
6. SOUNDBITE: (English) Vitor Gaspar, IMF Fiscal Affairs Department Director:
“Our recommendation is that countries be transparent about their public wealth, that they report that transparently to their citizens, and that they put the public wealth squarely at the service of society's economic and social goals.”
7. Mid IMF officials at end of news conference