File The International Monetary Fund (IMF) has cautioned governments around the world to exercise fiscal restraints in order not to reserve sound public funds. In 2024, a record number of countries, home to more than half of the world's population, are holding national elections., the Fund said. It added that history shows governments tend to spend more and tax less during election years. Deficits in election years tend to exceed forecasts by 0.4 percentage points of GDP, compared to non-election years, the IMF stated. "In this great election year, governments should exercise fiscal restraint to preserve sound public finances," it said.   A record number of countries are holding national elections in 2024. History shows governments tend to spend more and tax less during election years.