Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources

Released on by Joseph Ntamatungiro
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  • Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources Book Detail

  • Author : Joseph Ntamatungiro
  • Release Date : 2014
  • Publisher :
  • Genre :
  • Pages : 38
  • ISBN 13 :
  • File Size : 32,32 MB
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Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources by Joseph Ntamatungiro PDF Summary

Book Description: This paper proposes a framework for assessing fiscal sustainability in heavily indebted countries dependent on exhaustible resources, with reference to Gabon. It finds that fiscal sustainability could be achieved by: (i) developing a fiscal rule for the non-oil primary fiscal balance compatible with an objective for reducing the debt-to-non-oil GDP ratio; (ii) introducing a constant oil-based income transfer per capita allowing intergenerational equity; and (iii) building up an oil savings fund. Long-term simulations show that Gabon's fiscal position is fragile and that a fiscal policy path consistent with the proposed framework could help achieve comfortable levels of net wealth.

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Stress Testing at the IMF

Stress Testing at the IMF

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This paper explains specifics of stress testing at the IMF. After a brief section on the evolution of stress tests at the IMF, the paper presents the key steps