This paper presents an overview of recent U.S. fiscal developments and discusses possible implications of the sharp turn around in the government’s fiscal position. Against this back ground, it also reviews key policy challenges that will need to be addressed to cope with the mounting...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This 2004 Article IV Consultation highlights that the macroeconomic performance of United Arab Emirates is estimated to have been strong in 2003, reflecting favorable developments in the oil market, higher oil production, and prices. Non Hydrocarbon real GDP growth is estimated to have remained...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

This paper proposes an integrated approach to fiscal policy analysis in oil producing countries (OPCs) geared towards addressing their unique and complex policy challenges. First, an accurate assessment of the fiscal stance in OPCs can be obscured by large and volatile oil revenue flows. Second,...

This paper attempts to offer specific inputs to the debate on local content promotion in the oil industry, using the specific case of São Tomé and Príncipe as point of reference. Our approach emphasizes inter-sectoral linkages and institutional pre-conditions for local content promotion....

This paper explores from a regional perspective the distorted nature of trade in energy products within the CIS countries. The persistence of pricing distortions, barter arrangements, and discriminatory access to pipelines, as well as failure to honor contracts, has disrupted and distorted...

Tanzania’s performance ranks among the best for non-oil exporting countries in sub-Saharan Africa. The 2008/09 budget will aim at maintaining hard-won fiscal stability in the face of large spending needs and uncertain financing. Tighter budget constraints highlight the need to further...

Social and political stability has improved in Congo, but the security situation is fragile. Executive Directors welcomed the Staff-Monitored Program (SMP), which was designed to safeguard fiscal and external stability. They stressed the need for stabilizing the economy and pursuing structural...