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Tokyo Fiscal Forum 2018 - Strengthened Fiscal Management in Asia

Event | 4 - 5 June 2018 Mita Conference Hall, Tokyo, Japan
Time of event

Day 1: 09:00–18:00
Day 2: 09:00–13:00

Background

The recent upturn in the global economy provides a window of opportunity to tackle key policy challenges and stave off downside risks, such as by ensuring buffers and raising potential output. In emerging and low-income Asian countries, fiscal policy needs to ensure that resources are sufficient to lift potential output by closing large infrastructure gaps while maintaining sustainable fiscal management and reducing vulnerabilities due to the deficit bias. To this end, it is necessary and timely to reconsider effective design and implementation of fiscal rules to strengthen policy frameworks for medium-term fiscal management by drawing lessons from the global financial crisis.

Although infrastructure is an important catalyst for potential output growth, large infrastructure gaps remain in emerging and low-income Asian countries. In scaling up public investment, improvements in public investment management by strengthening institutions could significantly enhance efficiency and productivity with more predictable and credible investment spending. With increasing use of public-private partnerships (PPP) in Asian economies for infrastructure, strengthening the management of PPPs is also critical to better public investment management and a sustainable fiscal policy framework.

The effectiveness of fiscal policy depends crucially on the information and technologies available to governments and drastic transformation in the way they collect, process, and act on information that reshapes the formulation and implementation of fiscal policy. The impacts of digitalization in public finance for better information, better systems, and better policy design could be substantial in Asian countries.

Objectives

Bring together high-level policy makers from Asia to discuss:

  • Innovations in fiscal rules after the global financial crisis
  • An enhanced framework for public investment–public investment processes and benchmarking, and mitigating fiscal risks for public-private partnerships and digital innovations in revenues and spending programs
Participants
  • Participants from developing Asian countries to be invited by the International Monetary Fund’s Fiscal Affairs Department
  • Other experts in fiscal policy, demography, and inclusive growth
Output
  • Discussion on current challenges in Asia regarding fiscal policy sustainability to promote sustainable social spending and economic growth
  • A forum for government officials and policy makers to share thoughts about challenges in fiscal policy in their respective countries and suggest policy recommendations
  • Shared research among experts regarding the topic
  • Closer cooperation among key stakeholders involved in fiscal policy, both locally and internationally
How to register

By invitation only.

Partners

Policy Research Institute (PRI), Ministry of Finance Japan (MOF), and Fiscal Affairs Department (FAD), International Monetary Fund (IMF)