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How to Design a Fiscal Strategy in a Resource-Rich Country
Author:
Olivier Basdevant
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Eslem Imamoglu null

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Series:
IMF How To Notes
Volume/Issue:
Volume 2021: Issue 001
Language:
English
Publication Date:
09 Mar 2021
DOI:
https://doi.org/10.5089/9781513568799.061
ISBN:
9781513568799
ISSN:
2522-7912
Pages:
27
Keywords:
FADHTN; HTN; resource revenue; resource wealth; liquid asset; commodity revenue; resource consumption
Legal-disclaimer:
Fiscal Affairs Department (FAD) How to Notes offer practical advice from IMF staff members to policymakers on important fiscal issues. The views expressed in FAD How to Notes are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This How to Note provides operational guidance for policymakers and IMF staff teams on designing—or revising—a fiscal strategy in resource-rich countries (RRC). Properly managed, resource revenue can support fiscal sustainability and development and equity objectives. Resource revenues also create significant stabilization challenges for fiscal policy because of their size, uncertainty, volatility, and finite nature. The guidance in this note is intended to be general and applicable to RRCs with a range of income levels, resource endowments, and macroeconomic contexts. It is designed primarily to help policymakers analyze the trade-offs associated with alternative fiscal paths and select the right fiscal strategy, given country-specific circumstances.
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Cover IMF How To Notes
IMF How To Notes
ISSN:
2522-7912
Publisher:
International Monetary Fund