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Hana Polackova

subnational governments are critical. Box 3 lists systemic measures to promote understanding of fiscal risks by policymakers, the public, and the markets, while Box 4 summarizes specific steps that can be taken to control fiscal risks on a program-by- program basis. Given the increasingly serious fiscal implications of contingent government liabilities, the IMF and the World Bank should extend the scope of their fiscal analysis to address contingent fiscal risks; require countries to disclose information on their exposure to all types of fiscal risks; and help