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Many measures, amounting to a net saving over the forward estimates of $16bn, have been passed.
The organisation estimates that between 4% to 10% of global revenue is lost through base erosion and profit shifting measures, amounting to up to US$240bn annually.
First, they are huge — in Greece, we're looking at austerity measures amounting to 16 percent of GDP, the equivalent for the US of $2.5 trillion every year.
Consolidation measures amounting to between 5% and 6% of GDP are planned in France, Italy, Spain and the UK, while only a modest adjustment is likely in Germany and Austria.
The IMF said further measures amounting to an additional 2% of GDP will be needed by raising the corporate income tax rate from 10%to12.5%5% and the tax rate on interest income from 15%to30%0%.
After 2016 they are expecting austerity measures amounting to hundreds of millions of pounds, although the precise level of savings will depend on the outcome of the general election.
Similar(52)
All of these measures amount to economic stimulus.
"The measures amount to a constitutional coup," said Teodoro Petkoff, who edits an opposition newspaper.
Labor disputes that many of the measures amount to new taxes.
A BBC management spokesman said that taken together, those measures amount to a pay cut of nearly 25%.
Whether those measures amount to terrorism becomes a semantic, and political, argument.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com