Socializing fiscal policy to achieve human rights and development

IMF: Divergent recoveries stem from divergent policies Pt. II

With Bhumika Muchhala

A progressive fiscal framework recognizes that human development is the exact and ultimate return that public investment strategies must be rooted in. If the SDGs provide the basis for developing such a fiscal framework, existing fiscal rules focused on fiduciary solvency and flawed debt sustainability assessments are inadequate.

Fiscal progressivism entails allowing for higher budget deficit paths and/or higher levels of inflation without jeopardizing macroeconomic stability.

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