Argues for an approach aimed not only at the material restoration of lost or injured assets, but also paving the way for social, economic and cultural rehabilitation of affected indigenous communities. Focuses essentially on Latin America and draws to an extent on the ILO's research and...

Petroleum is now by far Timor-Leste’s largest source of income. If well harnessed, Timor-Leste’s petroleum wealth offers the potential for a more prosperous future. This Selected Issues paper provides an overview of how Timor-Leste’s Petroleum Fund functions. It considers...

This Selected Issues paper aims at discussing the impact of the oil windfall on Chad, with a focus on growth, poverty, competitiveness, and fiscal policy challenges posed by the oil revenue outlook. The paper discusses the reforms needed to remove structural factors that constraints the non-oil...

A large share of Brazil's current investments is concentrated in the development of petroleum resources in new frontiers. Perspectives for large offshore pre-salt fields are particularly good. However, challenges are also huge. On one hand, pre-salt resources development will draw vast amounts...

Over many years rises and fall of world oil prices have been repeatedly reflected in the boom-bust cycles in oil-exporting countries the world over. The recent spectacular rise and equally spectacular fall in prices provides an opportunity to inquire whether anything is different this time. In...

This Poverty Reduction Strategy Paper for Nigeria highlights the National Economic Empowerment and Development Strategy (NEEDS). NEEDS gives special support to agriculture, industry, small and medium-scale enterprises, and oil and gas. Under the plan, the government will seek long-term capital...

This Selected Issues paper on Azerbaijan Republic reports that the government has made substantial progress in dealing with energy-related subsidies. The domestic market for oil products has been tightly regulated by the government since Azerbaijan gained independence. Azerbaijan is largely...

This 2005 Article IV Consultation highlights that monetary development in the Republic of Equatorial Guinea continues to be dominated by fiscal policy. Fiscal outcome was marked by an increase in the fiscal surplus in 2004 compared with 2003 on account of a stronger-than-expected revenue...

This Selected Issues and Statistical Appendix paper presents an assessment of Nigeria’s past economic reform efforts—in particular the program supported by the 2000–01 Stand-By Arrangement (SBA). The paper also reviews weaknesses in the current fiscal management framework in...