As the world is in the midst of the ‘Great Election Year’ of 2024, the International Monetary Fund (IMF) has sounded the alarm on the perilous tight-rope walk between democratic exercises and fiscal responsibility. With a staggering 88 countries set to have, or having already undergone, national elections, concerns loom large over the financial ramifications of political fervour.

The IMF’s call for fiscal restraint amidst this electoral frenzy underscores a crucial dilemma facing policymakers worldwide. Elections, by their very nature, often catalyse increased government spending and reduced tax discipline as politicians vie for voter approval. Yet, in a year already burdened by slowing growth and towering debt levels, such profligacy could spell disaster for economies teetering on the edge. Indeed, the IMF’s warning of budget overruns and exacerbated deficits in........

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