IMF recommendation to strengthen transparency.

IMF recommendation to strengthen transparency.

The International Monetary Fund (IMF), assured that it would be a very good idea for the next administration to guarantee fiscal transparency, taking advantage of its political capital.

It is for the foregoing that Abdel Senhad, Deputy Director of Fiscal Affairs at the IMF, pointed out that an independent evaluation of Mexico’s fiscal situation would send a signal of discipline to the authorities.

Experts say that the entry of the new president-elect with a broad political capital, would be the ideal scenario to carry out reforms to promote transparency in the management of fiscal accounts. It is for this reason, that the creation of fiscal councils is proposed, which promote fiscal responsibility.

Measures like these have already been used in different countries throughout the world, and it is even European Union countries that have the longest tradition in practices for the establishment of fiscal correction mechanisms.

The fiscal councils are the institutions that participate in the design of tax policy through functions such as the supervision of the performance of public finances and the realization of the responses and the response of the macroeconomic behavior. They aim to promote greater transparency and a prudent fiscal stance.

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