IMF Fiscal Monitor Corruption

ID

536175

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Edited Package
SHOTLIST
Washington, DC --- 08 April 2019
2. Midshot Vitor Gaspar, IMF Director of the Fiscal Affairs Department
3. SOUNDBITE: (English) Gaspar, IMF Director of the Fiscal Affairs Department :
“Fiscal policy needs an upgrade. It should become smarter and more agile so as to facilitate change in the face of accelerating technological transformation, globalization, and demographic shifts. At the same time, fiscal policy for sustainable development needs to enhance tax capacity and to invest more and better in people and infrastructure.”
4. Midshot
5. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department :
“Corruption has widespread implications. It siphons out resources from public finance. In the case of tax revenues our research does show that countries that have the lowest levels of corruption collect 4 percent of GDP more in terms of tax revenues than countries that have the highest levels of corruption. These resources would be decisive to provide better schools, better hospitals, and better roads.”
6. Midshot
7. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department :
“Unfailing political will is a key factor. It is necessary to strengthen fiscal institutions through transparency, accountability, independent evaluations and scrutiny. But it's also necessary to deploy political will at the international level. Progress has been taking place through for example the anti-bribery convention of the OECD that has been subscribed by 40 countries. But much more remains to be done.”
8. Midshot
9. SOUNDBITE: (English) Vitor Gaspar, IMF Director of the Fiscal Affairs Department :
“The two main messages of the Fiscal Monitor are first: countries should put their fiscal house in order to prepare for the next downturn or financial crisis. The Fiscal Monitor also covers corruption that can be seen as a house with rotten pipes. Resources leak out. It is necessary to fix the leakages through better institutions. By doing so it's possible to finance better hospitals better schools and better roads.”

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