The paper aims to identify the optimal size, speed and composition of the medium-term fiscal adjustment in the context of Sudan's limited oil reserves. The permanently sustainable non-oil primary balance approach suggests the need for significant fiscal adjustment over the medium term, requiring...

When individual petroleum-producing firms make their exploration and development investment timing decisions, positive information externalities and negative extraction externalities may lead them to interact strategically with their neighbors. This paper examines whether these inefficient...

This Selected Issues paper analyzes the energy sector and labor market developments in Trinidad and Tobago. It discusses monetary and exchange rate policy and describes the institutional setting and economic structure within which monetary and exchange rate policy is conducted. The framework...

The Gulf of Guinea's tremendous potential is creating investment opportunities for the region. Some of its resources, such as oil, minerals, and forests, continue to attract significant investments whereas others, like natural gas, could be exploited to their full potential if necessary...

This paper discusses fiscal surveillance criteria for the countries of the Central African Monetary and Economic Union (CEMAC), most of which depend heavily on oil exports. At present, the CEMAC's macroeconomic surveillance exercise sets as fiscal target a floor on the basic budgetary balance....

This Selected Issues paper reviews the developments, issues, and prospects of the petroleum sector of Kazakhstan, and analyzes the recent strong economic growth, the links between the oil and the non-oil sector, and assesses the contribution of each sector. It explores the trade policy options...

We characterize optimal time profiles of risk-reducing expenditures and wreck probabilities for petroleum platforms. The input to our analysis is the development of wreck cost, direct and imputed. Particular attention is paid to the question of how private companies deviating from socially...