Global growth is slowing, and inflation has reached the highest levels seen in decades. The cost-of-living crisis has led to rising malnutrition and real income losses for households around the world. How can fiscal policy protect basic living standards when public finances are already strained after the pandemic? How can governments build a resilient society and reverse setbacks to poverty reduction?  

The October 2022 IMF Fiscal Monitor and World Bank Poverty and Shared Prosperity reports delve into policy options. The Fiscal Monitor explores how to keep a tight stance to help reduce inflation while protecting vulnerable groups and helping people bounce back from adversity. It draws lessons from swift and forceful government measures undertaken during the pandemic, often leveraging digital technology and novel approaches. Poverty and Shared Prosperity 2022: Correcting Course provides the first comprehensive analysis of the pandemic’s toll on poverty and explores how to optimize fiscal policies to help achieve a recovery that is inclusive and sustainable. The report addresses how to better protect progress against future shocks and identifies key priorities in short-term and long-term policies that can facilitate a much-needed period of higher growth to boost the incomes of poor people. 

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