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Chapter 5. Persistent Surpluses and Accumulation of Assets

Chapter 5. Persistent Surpluses and Accumulation of Assets »

Source: Lifting the Oil Curse : Improving Petroleum Revenue Management in Sub-Saharan Africa

Series: IMF Special Issues

Author(s): Harinder Malothra , Milan Cuc , Ulrich Bartsch , and Menachem Katz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2004

ISBN: 9781589063174

Keywords: fiscal policy, oil sector, oil companies, exchange rate, oil prices

Background Discussion We have presented the rationale for saving at least some of the current oil revenue. The question remains whether savings should be used for (1) repayment of ex...

Chapter 3. Macroeconomic Policy Challenges

Chapter 3. Macroeconomic Policy Challenges »

Source: Lifting the Oil Curse : Improving Petroleum Revenue Management in Sub-Saharan Africa

Series: IMF Special Issues

Author(s): Harinder Malothra , Milan Cuc , Ulrich Bartsch , and Menachem Katz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2004

ISBN: 9781589063174

Keywords: fiscal policy, oil sector, oil companies, exchange rate, oil prices

A. Background Discussion Macroeconomic policy in oil countries faces challenges arising from three characteristics of oil revenue: (1) oil revenue is more volatile than revenue from...

Chapter 6. Exchange Rate Regimes and Competitiveness

Chapter 6. Exchange Rate Regimes and Competitiveness »

Source: Lifting the Oil Curse : Improving Petroleum Revenue Management in Sub-Saharan Africa

Series: IMF Special Issues

Author(s): Harinder Malothra , Milan Cuc , Ulrich Bartsch , and Menachem Katz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2004

ISBN: 9781589063174

Keywords: fiscal policy, oil sector, oil companies, exchange rate, oil prices

Background Discussion Oil-exporting countries have used a variety of exchange rate arrangements, as shown in Figure 9. At the end of 2001, about 18 of the 29 oil-producing IMF member...

Chapter 8. Transparency Requirements

Chapter 8. Transparency Requirements »

Source: Lifting the Oil Curse : Improving Petroleum Revenue Management in Sub-Saharan Africa

Series: IMF Special Issues

Author(s): Harinder Malothra , Milan Cuc , Ulrich Bartsch , and Menachem Katz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2004

ISBN: 9781589063174

Keywords: fiscal policy, oil sector, oil companies, exchange rate, oil prices

Background Discussion Transparency and accountability in oil sector operations are necessary to improve governance in oil-producing countries. The same transparency and accountabilit...

Chapter 4. Fiscal Policy Formulation

Chapter 4. Fiscal Policy Formulation »

Source: Lifting the Oil Curse : Improving Petroleum Revenue Management in Sub-Saharan Africa

Series: IMF Special Issues

Author(s): Harinder Malothra , Milan Cuc , Ulrich Bartsch , and Menachem Katz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2004

ISBN: 9781589063174

Keywords: fiscal policy, oil sector, oil companies, exchange rate, oil prices

A. Background Discussion While it may not be possible to identify an “optimal” fiscal policy for oil countries in general, the discussions in the previous section provide important i...

Front Matter

Front Matter »

Source: Lifting the Oil Curse : Improving Petroleum Revenue Management in Sub-Saharan Africa

Series: IMF Special Issues

Author(s): Harinder Malothra , Milan Cuc , Ulrich Bartsch , and Menachem Katz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 January 2004

ISBN: 9781589063174

Keywords: fiscal policy, oil sector, oil companies, exchange rate, oil prices

How can a country turn oil revenues into a blessing rather than a curse? With growing international interest in new offshore oil deposits in sub-Saharan Africa, there is also greater scrutiny of the reasons why man...