Author:

Publisher: World Bank Publications

Published:

Total Pages: 71

ISBN-13:

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Fiscal Policy Rules
Fiscal Policy Rules

Author: Mr.George Kopits

Publisher: International Monetary Fund

Published: 1998-07-22

Total Pages: 58

ISBN-13: 9781557757043

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What are fiscal policy rules? What are the principal benefits and drawbacks associated with various fiscal rules, particularly compared with alternative approaches to fiscal adjustment? Can fiscal rules contribute to long-run sustainability and welfare without sacrificing short-run stabilization? If so, what characteristics of fiscal rules make this contribution most effective? And in what circumstances and contexts, if any should the IMF encourage its member countries to adopt fiscal rules? This paper seeks to identify sensible fiscal policy rules that can succeed, if chosen by a member country, as an alternative to descretionary fiscal rules.

Regional Economic Outlook, Fall 2006, Sub-Saharan Africa, Supplement
Regional Economic Outlook, Fall 2006, Sub-Saharan Africa, Supplement

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2006-05-03

Total Pages: 78

ISBN-13: 9781589065925

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Provides a broad synopsis of recent economic developments in the Middle East and Central Asia region, highlighting common trends and policies among countries in the region, and reviewing prospects and policies for the coming year. Includes a statistical appendix.

Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources
Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources

Author: Joseph Ntamatungiro

Publisher:

Published: 2014

Total Pages: 38

ISBN-13:

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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.

Regional Economic Outlook, October 2007, Sub-Saharan African
Regional Economic Outlook, October 2007, Sub-Saharan African

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2007-10-15

Total Pages: 84

ISBN-13: 1589066707

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The region's prospects look strong. Growth in sub-Saharan Africa should reach 6 percent in 2007 and 63⁄4 percent in 2008. The economic expansion is strongest in oil exporters but cuts across all country groups. This would extend a period of very good performance. In recent years, sub-Saharan Africa has been experiencing its strongest growth and lowest inflation in over 30 years.

Regional Economic Outlook, April 2008, Sub-Saharan Africa
Regional Economic Outlook, April 2008, Sub-Saharan Africa

Author: International Monetary Fund. African Dept.

Publisher: International Monetary Fund

Published: 2008-04-14

Total Pages: 145

ISBN-13: 1589067118

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The region's prospects continue to be promising, but global developments pose increased risks to the outlook. Growth in sub-Saharan Africa should again average about 61⁄2 percent in 2008 with oil exporters leading the way; meanwhile, growth in oil importers is expected to taper off, though only modestly. With food and energy prices still rising, inflation is projected to average about 81⁄2 percent this year for countries in the region, setting aside Zimbabwe. Risks in 2008 are tilted to the downside, but the region is better placed today to withstand a worsening of the global environment.

Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources: The Case of Gabon
Fiscal Sustainability in Heavily Indebted Countries Dependent on Nonrenewable Resources: The Case of Gabon

Author: Joseph Ntamatungiro

Publisher: INTERNATIONAL MONETARY FUND

Published: 2004-02-01

Total Pages: 37

ISBN-13: 9781451844948

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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.