Are Latin American governments maximising the potential of fiscal policy as a development tool? This 2009 edition of the annual OECD Latin American Economic Outlook analyses the progress governments in the region have achieved in the fiscal realm during the last decade. It concludes that they could do much more to exploit the ability of fiscal policy to boost economic growth and combat poverty and inequality. In the current context of global financial turmoil, the relevance of fiscal management is more important than ever. This is essential reading for those who want to know more about fiscal policy in Latin America, its impact on development and the challenges that lie ahead.