| Description |
1 online resource (37 pages) : illustrations |
| Series |
IMF working paper, 2227-8885 ; WP/04/30 |
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IMF working paper ; WP/04/30
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| Contents |
""Contents""; ""I. INTRODUCTION""; ""II. ANALYSIS OF FISCAL AND DEBT SUSTAINABILITY""; ""III. FISCAL SUSTAINABILITY IN THE FACE OF EXHAUSTIBLE RESOURCES""; ""IV. CONCLUSIONS AND POLICY IMPLICATIONS""; ""REFERENCES""; ""Appendix I: Alternative Path Under Lower Growth and FFG Return""; ""Appendix II: Alternative Path Under Lower Debt Reduction"" |
| Summary |
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 |
| Bibliography |
Includes bibliographical references (pges 31-33) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Fiscal policy -- Gabon
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Nonrenewable natural resources -- Gabon
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Petroleum -- Economic aspects -- Gabon
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Debts, Public -- Gabon
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Debts, Public
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Fiscal policy
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Nonrenewable natural resources
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Petroleum -- Economic aspects
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Gabon
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| Form |
Electronic book
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| Author |
International Monetary Fund. African Department, issuing body
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| ISBN |
1451892470 |
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9781451892475 |
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128108882X |
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9781281088826 |
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9781451844948 |
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1451844948 |
| ISSN |
2227-8885 |
|
