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Governments should start planning a return to more sustainable budgets with policies that win the trust of investors after unprecedented fiscal stimulus to fight the Covid-19 pandemic, the International Monetary Fund (IMF) said.
But each country must determine the appropriate timing and pace of fiscal consolidation, the IMF said in its Fiscal Monitor report.
The fiscal plans needed to consider the stage of the pandemic, existing fiscal vulnerabilities, the risk of economic scarring, pressures from aging populations, development needs and historical difficulties in collecting revenues, Reuters reports.
