Series: Occasional Papers
Author(s): Mauricio Villafuerte , Rolando Ossowski , Theo Thomas , and Paulo Medas
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 30 April 2008
Keywords: Financial institutions, Oil revenues, oil-producing countries, fiscal policy, oil prices, fiscal rules
Oil-producing countries have benefited from rising oil prices in recent years, with important implications for their external and fiscal balances. The average price of oil tripled from US$18 a barrel in 1999...