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Jean-Luc Hélis and Ms. Teresa Daban Sanchez
This working paper overviews the challenges posed by resource revenues management and the policy prescriptions to meet them, and focuses on the Public Financial Management (PFM) framework and reforms that resource-producing countries should adopt. The paper outlines a PFM framework and reform path that take into account the institutional diversity of resource-producing countries. In the short term, the proposed reforms highlights the tools that could be implemented even where the PFM system is rather basic, while over the medium and long term they aim at converging with best international PFM practices.
International Monetary Fund
This Selected Issues paper presents evidence on linkages between investment and growth observed in other countries to gauge the expected impact of increasing public investment in Timor-Leste. The results indicate that the level of capital expenditure envisioned in the government’s strategy could significantly boost economic growth and reduce poverty. The paper reviews the major issues related to tax policy reform in Timor-Leste. It also discusses the current direction of Timor-Leste Petroleum Fund asset management and issues that might arise with eventual asset diversification.
Ms. Rina Bhattacharya, Mr. Benedict J. Clements, Mr. Sanjeev Gupta, Mr. Shamsuddin Tareq, Mr. Alex Segura-Ubiergo, and Mr. Todd D. Mattina

Abstract

This paper discusses experiences in reestablishing fiscal management in postconflict countries. Building fiscal institutions in postconflict countries essentially entails a three-step process: (1) creating a legal or regulatory framework for fiscal management; (2) establishing or strengthening fiscal authority; and (3) designing appropriate revenue and expenditure policies while simultaneously strengthening revenue administration and public expenditure management. Based on experiences in 14 postconflict countries, the paper reviews the challenges in rebuilding fiscal institutions in these countries, and identifies key priorities in the fiscal area following the cessation of hostilities.

International Monetary Fund

Abstract

The Legal Department and the Institute of the IMF held their eighth biennial seminar for legal advisers of central banks of member countries on May 7-17,2000. The papers presented in this volume are based on presentations made by the seminar participants. The seminar covered a broad range of topics, including activities of the IMF and other international financial institutions, sovereign debt restructuring, the architecture of the international financial system, and money laundering and the financing of terrorism. In addition, participants addressed the role of central banks, payment systems, securities, technology in the financial sector, and monetary arrangements.

International Monetary Fund
The information provided in this paper supplements the information presented in the main Board paper. The main paper discusses experiences in reestablishing fiscal management in post-conflict countries. On the basis of the Fiscal Affairs Department technical assistance recommendations to these countries, that paper identifies key priorities for rebuilding fiscal institutions in a post-conflict setting. This background paper provides more detailed information for the six selected countries—Afghanistan, Bosnia and Herzegovina, Democratic Republic of Congo (DRC), Lebanon, Mozambique, and Timor-Leste.
International Monetary Fund
The staff report for the 2004 Article IV Consultation on the Democratic Republic of Timor-Leste highlights economic developments and policies. Progress has been made in consolidating the new government’s administrative power and fostering a stable political environment, despite some early challenges. Despite progress in economic reconstruction, significant economic challenges remain. These challenges center on the strengthening of medium-term growth prospects to alleviate widespread poverty. Given the constraints of the current regime, prudent fiscal and wage policies will be essential to help avoid attrition in Timor-Leste’s external competitiveness.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
For the latest thinking about the international financial system, monetary policy, economic development, poverty reduction, and other critical issues, subscribe to Finance & Development (F&D). This lively quarterly magazine brings you in-depth analyses of these and other subjects by the IMF’s own staff as well as by prominent international experts. Articles are written for lay readers who want to enrich their understanding of the workings of the global economy and the policies and activities of the IMF.
International Monetary Fund. External Relations Dept.
Pour les dernières idées sur le système financier international, la politique monétaire, le développement économique, la lutte contre la pauvreté et d’autres questions importantes, abonnez-vous à Finances & Développement (F&D). Ce trimestriel attrayant présente des analyses approfondies sur ces thèmes et d'autres sujets, rédigées par les membres des services du FMI ainsi que par des experts de renommée internationale. Les articles sont écrits pour les non-spécialistes qui souhaitent enrichir leur compréhension des rouages de l'économie mondiale et des politiques et activités du FMI.