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Europe > Norway

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Cover IMF Working Papers
A Public Financial Management Framework for Resources-Producing Countries
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.
Keywords:
WP; resource revenue; resource-producing country; investment strategy; country experience; PFM framework; resource curse; Resource revenue management; public financial management; transparency; accountability; resource-producing countries; PFM system; management law; Budget planning and preparation; Resource management in revenue administration; Fiscal law; Eastern Europe