IMF research summaries on (1) oil market developments and the global economy (by Selim Elekdag), and (2) credit booms (by Marco Terrones); country study on India (by Helene Poirson); call for papers for November 2007 Jacques Polak Eighth Annual Research Conference; listing of contents of Vol. 54, Issue No. 2 of IMF Staff Papers; listing of recent IMF Working Papers; and listing of visiting scholars at the IMF during April-June 2007
This Selected Issues paper presents a brief overview of developments and prospects for the petroleum sector of the Republic of Kazakhstan. The paper conducts a comprehensive assessment of fiscal vulnerability, fiscal sustainability, and fiscal stance in Kazakhstan, focusing on the government’s non-oil budget balance while taking into account some of the key characteristics of resource-rich countries. The paper states that the key issue is how much the government should consume and save out of oil revenues and how these decisions should change in response to changes in key aspects of fiscal vulnerability in Kazakhstan.
In an era of rising energy costs, oil importing developing countries must look both to expanding their own energy resources and to making more efficient use of the energy they have and import. The author discusses the potential for conservation in the main energy using sectors of their economies.