{
  "title": "Fiscal Transparency Initiative: Integration of Natural Resource Management Issues",
  "sourceUrl": "https://www.imf.org/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues",
  "canonical": "https://www.imf.org/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues",
  "overlayPath": "/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/index.md",
  "summary": "This paper integrates into the&nbsp; IMF Fiscal Transparency Code (FTC) a new fourth pillar (Pillar IV) on natural resource revenue management.<br /> &nbsp;<br /> The newly completed FTC integrates transparency principles for natural resource revenue management in a unified four-pillar framework.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Publication date: January 29, 2019\n- Purpose: Integrates a new fourth pillar (Pillar IV) on natural resource revenue management into the IMF Fiscal Transparency Code (FTC).\n- Subject: Fiscal transparency, Natural resource taxation"
    },
    {
      "heading": "Structure and scope of Pillar IV",
      "content": "- Pillar IV is incorporated into a unified four-pillar FTC framework that complements Pillars I-III.\n- Pillar IV addresses resource-rich country issues across the entire resource revenue management chain:\n  - ownership and allocation of resource rights\n  - resource revenue mobilization\n  - budgeting and utilization of resource revenues\n- Pillars I-III (published in 2014) focus on:\n  - fiscal reporting\n  - fiscal forecasting and budgeting\n  - fiscal risk analysis and management"
    },
    {
      "heading": "Transparency practices and norms reflected",
      "content": "- Pillar IV aims to reflect both:\n  - established transparency practices in the extractive industries\n  - emerging norms such as:\n    - the publication of resource payments and contracts\n    - the disclosure of beneficial owners of resource rights"
    },
    {
      "heading": "Evidence base and consultation",
      "content": "- Pillar IV reflects lessons learned from pilot fiscal transparency evaluations in:\n  - Peru\n  - Tanzania\n  - United Kingdom\n  - Mexico\n  - Trinidad and Tobago\n- It incorporates extensive stakeholder feedback on earlier drafts of Pillar IV released for public consultation in 2015 and 2016"
    },
    {
      "heading": "Forward use and guidance",
      "content": "- The four-pillar FTC will underpin Fiscal Transparency Evaluations for resource-rich countries.\n- Pillar IV will inform a second volume of the Fiscal Transparency Handbook, forming an update to the 2007 Guide on Resource Revenue Transparency.\n\nInternational Monetary Fund — Fiscal Transparency Initiative: Integration of Natural Resource Management Issues (January 29, 2019).\n\n---\n\n Content in this bundle\n\n- Policy Paper\n  - Policy Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Policy Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/index.md)",
    "[Structured JSON version](/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/index.json)",
    "[Bundle manifest](/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/bundle-manifest.json)",
    "Published: January 29, 2019",
    "Publication date: January 29, 2019",
    "Purpose: Integrates a new fourth pillar (Pillar IV) on natural resource revenue management into the IMF Fiscal Transparency Code (FTC).",
    "Subject: Fiscal transparency, Natural resource taxation",
    "Pillar IV is incorporated into a unified four-pillar FTC framework that complements Pillars I-III.",
    "Pillar IV addresses resource-rich country issues across the entire resource revenue management chain:",
    "Pillars I-III (published in 2014) focus on:",
    "Pillar IV aims to reflect both:",
    "Pillar IV reflects lessons learned from pilot fiscal transparency evaluations in:",
    "It incorporates extensive stakeholder feedback on earlier drafts of Pillar IV released for public consultation in 2015 and 2016",
    "The four-pillar FTC will underpin Fiscal Transparency Evaluations for resource-rich countries.",
    "Pillar IV will inform a second volume of the Fiscal Transparency Handbook, forming an update to the 2007 Guide on Resource Revenue Transparency.",
    "**Policy Paper**"
  ],
  "related": [
    {
      "title": "Policy Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/pp/2019/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues.pdf",
      "summary": {
        "path": "/-/media/files/publications/pp/2019/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/pp/2019/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/index.md",
    "json": "/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/index.json",
    "bundleManifest": "/en/publications/policy-papers/issues/2019/01/29/pp122818fiscal-transparency-initiative-integration-of-natural-resource-management-issues/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-19T00:52:01.275Z"
}