World Bank [to 10 January 2015]
http://www.worldbank.org/en/news/all

.
Developing Countries Need To Rebuild Fiscal Space to Weather Growth Slowdowns, Says a New Report by the World Bank Group
WASHINGTON, January 7, 2015 – Faced with weaker export prospects, an impending rise in global interest rates, and fragile financial market sentiment, developing countries need to rebuild fiscal buffers to support economic activity in case of a growth slowdown, says the new edition of Global Economic Prospects, released today by the World Bank Group. For many developing economies, lower oil prices have provided a timely opportunity for doing so.In countries with elevated domestic debt or inflation, monetary policy options to deal with a potential slowdown are constrained. In the foreseeable future, these countries may need to employ fiscal stimulus measures to support growth. But many developing countries have less fiscal space now than they did prior to 2008, having used fiscal stimulus during the global financial crisis…