Sustainability and Equity Challenges

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Reform of Lebanon’s pension system is indispensable. The country already faces fiscal sustainability risks, which will be compounded in the future by signific

The Taxation of Petroleum and Minerals

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There are few areas of economic policy-making in which the returns to good decisions are so high—and the punishment of bad decisions so cruel—as in the mana

Managing Economic Volatility and Crises

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Economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This evolution has been dr

When and How to Adjust Beyond the Business Cycle? A Guide to Structural Fiscal Balances

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Technical Notes and Manuals are produced by IMF departments to expand the dissemination of their technical assistance advice. These papers present general advic

Designing a Fiscal Framework for a Prospective Commodity Producer

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Lebanon is expected to have gas resources in its Mediterranean basin, and these could turn the country into a natural gas producer over the next decade. Lebanon