Tax Expenditures in Sub-Saharan Africa: An Expensive Practice?
Li Liu,
Todd Schneider,
Can Sever and
Irena Jankulov Suljagic | 27 November 2025
Fiscal,
Blog | Tags:
Domestic Revenue Mobilization,
Sub-Saharan Africa,
Tax Expenditures
Tax expenditures are less well understood in Sub-Saharan Africa than in other regions, and deserve closer attention given the region’s macro-fiscal challenges. A new IMF paper sheds some additional light on TEs in SSA, their potential importance to domestic revenue mobilization, and offers a roadmap for reform.
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How Vietnam Can Ensure Greener Steel
Patrick Lenain and
Deepak Sharma | 21 November 2025
Fiscal,
Blog | Tags:
Decarbonization,
Energy,
Industrial Policy,
Vietnam
The steel industry is an important pillar of Vietnam’s economic development. It provides input for the country’s rapid infrastructure expansion, it supports key manufacturing sectors such as construction and shipbuilding, and it contributes to export revenues and industrial employment.
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The Energy Taxation Directive and the Clean Industrial Deal
Patrick Lenain | 20 November 2025
Fiscal,
Testimonies | Tags:
Decarbonization,
Energy,
Europe,
Fossil Fuel Subsidies
Thank you for the opportunity to speak today on the Energy Taxation Directive (ETD) and the Clean Industrial Deal (CID). I will start with brief remarks on the ETD and then turn to lessons the CID could draw from global experience with the use of
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Accelerating Industrial Decarbonisation. The Role of Tax Incentives
Flurim Aliu,
Sofia Berg,
Luke Hatton,
Patrick Lenain,
Agustin Redonda,
Magd Shamashan and
Nirosha Elsem Varghese | 17 November 2025
Fiscal,
Discussion Notes | Tags:
Decarbonization,
Energy,
Industrial Policy,
Tax Expenditures
Achieving net-zero targets in industrial sectors will require substantial investment in low-carbon technologies, especially in “hard-to-abate” industries such as steel, cement, and petrochemicals. In this context, tax incentives have emerged as a useful policy instrument ...
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Tax Expenditures for Environmental Sustainability
Agustin Redonda,
Christian von Haldenwang and
Sofia Berg | 13 November 2025
Fiscal,
Discussion Notes | Tags:
GTED,
Sustainability,
Tax Expenditures
This report analyses tax expenditures aimed at promoting environmentally sustainable practices. Drawing on the Global Tax Expenditures Database (GTED) and a number of specific international experiences, it explores how these instruments are currently being used and evaluated.
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Sanaenomics: Bridging Abenomics and New Capitalism
Matthew Poggi | 5 November 2025
Monetary,
Commentary | Tags:
Economic Growth,
Governing Finance,
Japan
Sanae Takaichi begins her tenure as prime minister of Japan with a rare combination of political momentum and market confidence. Her inaugural public-support rating exceeds that of her recent predecessors, and equities have risen nearly 10% since she became leader of the Liberal Democratic Party.
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The Bank of Japan Must Define a Strategy for Its ETF Holdings – Not Just Its Sales
Ken Shibusawa and
Matthew Poggi | 28 October 2025
Monetary,
Commentary | Tags:
Asset Purchases,
Central Banks,
Governing Finance,
Japan
The Bank of Japan (BOJ) plans to sell its ETFs at roughly 620 billion yen a year on a market-value basis (330 billion yen on a book-value basis), a time frame under which BOJ Gov. Kazuo Ueda said it would "take more than 100 years"
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Tax Expenditures: Time to Clean House
François Ecalle,
Patrick Lenain and
Agustin Redonda | 27 October 2025
Fiscal,
Commentary | Tags:
France,
GTED,
Tax Expenditures
The state of France’s public finances is worrying. The public deficit has rarely been so high outside periods of crisis, and public debt has reached record levels. Stabilising it will require a substantial adjustment—on the order of €120 billion to €150 billion.
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Unlocking Doors to Better Homes: Smarter Borrower Limits for Housing Upgrades Across Europe
Reiner Martin and
Pierre Monnin | 15 October 2025
Monetary,
Blog | Tags:
Credit Risk,
Energy,
Financial Stability,
Housing,
Macroprudential Policy
Upgrading the energy efficiency of Europe’s homes is a cornerstone of the European Union’s strategy to achieve climate neutrality. Buildings account for about a third of the EU’s energy-related greenhouse gas emissions, making them one of the largest contributors to climate change.
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Central Banks Must Guide Asean+3 Through Age of Novel Risks
Julia Bingler and
Aziz Durrani | 14 October 2025
Monetary,
Commentary | Tags:
ASEAN+3,
Central Banks,
Climate Risks,
Macroprudential Policy
The prosperity of Asean+3 economies – the 10 South-east Asian nations plus China (including Hong Kong), Japan and South Korea – hinges on whether policymakers, central banks and financial supervisors can navigate an increasingly complex landscape of novel risks.
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