The global economic and financial outlook has improved in the last six months. Inflation has fallen, financial conditions have eased, and risks to the outlook are balanced. However, many countries continue to struggle with high public debt and fiscal deficits amid new challenges from high real interest rates and dimming medium-term growth prospects. Our latest Fiscal Monitor calls for governments to avoid slippages and focus more on rebuilding buffers and safeguarding fiscal sustainability over the medium term. Fiscal policy shifted to be more expansionary last year after a rapid improvement in debt and deficits in ... (full story)