Amaral, LucianoGiove, Marika2024-09-242024-09-242023-01-132022-12-15http://hdl.handle.net/10362/172299The accumulation of capital flows in the European periphery experienced, starting from the early ‘00s, was first considered a natural effect of the convergence towards higher output levels. However, after the crisis of 2007-2008, it was clear the risky nature of the accumulation. Soon, Greece, Portugal and Ireland required the intervention of the IMF. In this paper, we will first present the crisis background. We will then focus on the role of the fiscal multiplier in implementing the IMF programs, and we will conclude with an evaluation of the accuracy of the forecasts.engImfFiscal multiplierForecastsDebtGdpmaster thesis203515226