The IMF Transcript of the 2023 Fiscal Monitor Press Briefing discusses the following topics:

The impact of the pandemic on fiscal policy.
The role of fiscal policy in supporting monetary policy.
The need to reduce debt levels.
The risks to financial stability.
The need to support vulnerable members.

The IMF argues that the pandemic was a very large shock that justified very large responses all around the world. As a result, there was an unprecedented jump in debt and deficits. However, in the following two years, 2021 and 2022, there was a sharp correction of debt and deficits. The IMF also argues that fiscal policy can and should support monetary policy in many countries. By contributing to moderate aggregate demand, fiscal policy can help limit the necessary increases in monetary policy rates. This, in turn, can ease the burden on monetary policy.
The IMF also discusses the need to reduce debt levels. Debt levels have increased significantly in many countries as a result of the pandemic. The IMF argues that it is important to start reducing debt levels as soon as possible. This will help to reduce the risk of financial instability.
Finally, the IMF discusses the need to support vulnerable members. The pandemic has had a disproportionate impact on some countries, particularly those in low-income countries. The IMF argues that it is important to provide support to these countries to help them recover from the pandemic.
The IMF Transcript of the 2023 Fiscal Monitor Press Briefing provides a comprehensive overview of the challenges facing the global economy. The IMF argues that fiscal policy can play a key role in addressing these challenges.
Read the full transcript