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dc.titleEnhancing Fiscal Resilience: Medium-Term Frameworks for Managing Emerging Risks
dc.contributor.authorValencia, Oscar
dc.contributor.authorMartínez, André
dc.contributor.orgunitFiscal Management Division
dc.coverageSouth America
dc.coverageLatin America
dc.coverageThe Caribbean
dc.date.available2025-04-24T00:04:00
dc.date.issue2025-04-24T00:04:00
dc.description.abstractClimate change poses significant well-known risks to fiscal sustainability in Latin America and the Caribbean, such as annual losses of up to 1.7 percent of GDP due to extreme weather events, the devaluation of carbon-intensive assets caused by the transition to a low-carbon economy, and the loss of fiscal revenues linked to fossil fuels. This study describes how governments can integrate green medium-term fiscal frameworks (MTFFs) into their fiscal planning to mitigate these risks. Green MTFFs combine effective carbon pricing, sustainable reforms, and strategic investments in green infrastructure. They are not only a technical tool but an imperative approach to avoid fiscal decisions that undermine growth and stability in the region. They also expose certain shortcomings, such as lack of reliable data, institutional fragmentation, and fiscal space constraints.
dc.format.extent49
dc.identifier.doihttp://dx.doi.org/10.18235/0013503
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Enhancing-Fiscal-Resilience-Medium-Term-Frameworks-for-Managing-Emerging-Risks.pdf
dc.language.isoen
dc.publisherInter-American Development Bank
dc.subjectFiscal Policy
dc.subjectGreen Market
dc.subjectFiscal Sustainability
dc.subjectResilience
dc.subjectFiscal Rule
dc.subjectGross Domestic Product
dc.subjectClimate Change
dc.subjectInvestment
dc.subjectBudget
dc.subjectClimate Resilience
dc.subjectClimate Finance
dc.subject.jelcodeH60 - National Budget, Deficit, and Debt: General
dc.subject.jelcodeH87 - International Fiscal Issues • International Public Goods
dc.subject.jelcodeQ54 - Climate • Natural Disasters and Their Management • Global Warming
dc.subject.jelcodeQ58 - Government Policy
dc.subject.keywordsclimate change;fiscal sustainability;medium-term fiscal frameworks;Latin America and the Caribbean
idb.identifier.pubnumberIDB-TN-03119
idb.operationBR-T1526
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