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How to Design a Fiscal Strategy in a Resource-Rich Country

Author

Listed:
  • Olivier Basdevant
  • Eslem Imamoglu

Abstract

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.

Suggested Citation

  • Olivier Basdevant & Eslem Imamoglu, 2021. "How to Design a Fiscal Strategy in a Resource-Rich Country," IMF Fiscal Affairs Department 2021/001, International Monetary Fund.
    • Handle: RePEc:imf:imfhtn:2021/001
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=50069
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    Cited by:

    1. Shigeto Kitano & Kenya Takaku, 2023. "Effect of sovereign wealth funds in commodity‐exporting economies when commodity prices affect interest spreads," Asian Economic Journal, East Asian Economic Association, vol. 37(3), pages 267-292, September.

    More about this item

    Keywords

    FADHTN; HTN; resource revenue; resource wealth; liquid asset; commodity revenue; resource consumption;
    All these keywords.

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