IMF Officials Urge Developing Nations to Repair Tax Systems Before Next Economic Shock
Nation Thailand - Economy
Key summary
At the IMF–World Bank Annual Meetings, officials from Japan, Nepal, and Zambia warned that governments must fix tax systems and institutions before the next crisis. Rodrigo Valdés of the IMF Fiscal Affairs Department emphasized avoiding fiscal crises through domestic revenue mobilization rather than cutting spending. Nepal's Finance Minister Swarnim Wagle highlighted closing political tax exemptions, while Zambia's Dingani Banda noted domestic tax contributions rose from 49% in 2021 to approximately 73% in 2025 despite commodity swings.
Domestic Tax Contributions to National Budget in Zambia
| 2021 | 49 % |
|---|---|
| 2025 | 73 % |
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Source report
Nation Thailand - Economy
Read original ↗https://www.nationthailand.com/business/economy/40072319