Lifting the Oil Curse: Improving Petroleum Revenue Management in Sub-Saharan Africa
January 23, 2004
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How can a country turn oil revenues into a blessing rather than a curse? With growing international interest in new offshore oil deposits in sub-Saharan Africa, there is also greater scrutiny of the reasons why many oil-producing countries in the region have experienced disappointing economic performance over the past 20 to 30 years. This paper discusses the latest thinking on best-practice institutions and policies, compares this thinking with current practice in African oil-exporting countries, and presents a plan for the future, taking into account African policymakers’concerns.
Subject: Commodities, Economic sectors, Exchange rate arrangements, Foreign exchange, Oil, Oil prices, Oil sector, Oil, gas and mining taxes, Prices, Taxes
Keywords: Africa, country, Exchange rate arrangements, gas and mining taxes, Global, government, government oil revenue, ISI, Oil, Oil prices, oil revenue, Oil sector, oil sector oversight, oil-producing country, revenue, SI, Southern Africa, SSA oil-exporting country, Sub-Saharan Africa, West Africa
Pages:
73
Volume:
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Series:
IMF Special Issues
Stock No:
ISIEA0032004
ISBN:
9781589063174
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