TY - BOOK ID - 84656225 TI - Disclosing Fiscal Risks in the Post-Crisis World. PY - 2009 SN - 1462354211 1452784639 1455241121 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Macroeconomics KW - Public Finance KW - Accounting KW - Debt KW - Debt Management KW - Sovereign Debt KW - Forecasts of Budgets, Deficits, and Debt KW - Governmental Loans, Loan Guarantees, Credits, and Grants KW - Public Administration KW - Public Sector Accounting and Audits KW - Public Enterprises KW - Public-Private Enterprises KW - Fiscal Policy KW - Public finance & taxation KW - Civil service & public sector KW - Financial reporting, financial statements KW - Fiscal risks KW - Public debt KW - Public sector KW - Contingent liabilities KW - Fiscal policy KW - Public financial management (PFM) KW - Economic sectors KW - Financial statements KW - Debts, Public KW - Finance, Public KW - Thailand UR - https://www.unicat.be/uniCat?func=search&query=sysid:84656225 AB - This paper discusses appropriate methods for disclosing fiscal risks from exogenous shocks and the realization of explicit or implicit contingent obligations of the government. Expanding on previous guidance prepared prior to the crisis, the note focuses on fiscal risks emerging from recent public interventions in the financial sector. Information on fiscal risks and its public reporting leads to a better understanding of the true state of the public finances. Thus, it helps policymakers design and gets public support for, appropriate responses to the realization of various contingencies. More specifically, in the context of the unfolding global financial crisis, a wide range of public sector interventions have been in support of the financial system. Although these interventions have been necessary, they have generated further fiscal risks. Comprehensive reporting would help governments to define a management strategy of the assets and liabilities that they have taken on their balance sheet and to prepare exit strategies for reducing their presence in the financial sector and eventually withdrawing support. ER -