International Monetary Fund

Fiscal Consolidation Programs and Medium-Term Budgetary Frameworks

Stockholm, Sweden

7-8 May 2012

Fiscal Consolidation Programs and Medium-Term Budgetary Frameworks

*** Conference will be webcast LIVE here! ***

Joint Conference by the IMF Fiscal Affairs Department and the Swedish Ministry of Finance, 7-8 May 2012 in Stockholm.

The conference "Fiscal Consolidation Programs and Medium-Term Budgetary Frameworks" will bring together policy-makers, practitioners, and academics from around the world to review current fiscal programs, discuss options, and propose solutions. In particular, the conference will focus on designing and implementing medium-term plans that restore fiscal sustainability while promoting broad-based economic growth.

Among the participants are Swedish Finance Minister Anders Borg, who will deliver the opening keynote speech, as well as IMF First Deputy Managing Director David Lipton and IMF Fiscal Affairs Department Director Carlo Cottarelli.

Monday May 7 - Fiscal Consolidation Programs

  • Introduction (A. Borg - Minister of Finance, Sweden)
  • Experiences from fiscal consolidation in Latvia
    (V. Dombrovskis - Prime Minister Latvia)
  • The role of structural reforms in fiscal consolidation
    (P. C. Padoan - Chief Economist OECD)
  • Macroeconomic effects of fiscal consolidations: evidence of non-Keynesian effects
    (G. Hjelm - Head of Research, National Institute of Economic Research, Sweden)
  • Panel discussion
    (chaired by E. Leeper - Professor, Indiana University)
  • Designing fiscal consolidation programs: what works?
    (C. Cottarelli - Director Fiscal Affairs Department IMF)
  • Recent fiscal consolidation programs in Italy: rationale, design and performance
    (V. Grilli - Deputy Minister of Economy and Finance, Italy)
  • Panel discussion
    (chaired by R. Beetsma - Professor, University of Amsterdam)

Tuesday May 8 - Medium-term budgetary frameworks

  • The role of fiscal rules in medium-term budget planning
    (J. Wehner - Senior Lecturer, London School of Economics)
  • A case for binding medium-term budgetary frameworks: key elements and cross-country performance
    (G. Ljungman - Economist, Fiscal Affairs Department, IMF)
  • Fiscal forecasting in Europe
    (R. Beetsma - Professor, University of Amsterdam)
  • Panel discussion
    (chaired by P.C Padoan - Chief Economist OECD)
  • The Swedish Medium-Term Budgetary Framework
    (U. H. Brusewitz - Budget Director, Sweden, R. Boije - Deputy Director, Ministry of Finance, Sweden)
  • Independent macroeconomic and fiscal forecasting: the role and responsibilities of the CPB in The Netherlands
    (C. N. Teulings - Director, Central Planning Bureau, the Netherlands)
  • Transparency Framework in Australia and New Zealand
    (C. Barrett - Australia' Ambassador to the OECD, A-M. Brooks - Principal Advisor, New Zealand Treasury)
  • Panel discussion - conference conclusions
    (chaired by A.Borg - Minister of Finance, Sweden)