EXECUTIVE SUMMARY This report is provided to support the work of the ‘Sheshinski II’ committee in reviewing the fiscal regime for mining. Mining is, and will remain, relatively minor both as a source of government revenue and within the wider economy. Nonetheless, it is important...

This Selected Issues paper on Burundi highlights that after the Arusha Peace Agreement in 2000 Burundi has faced a wide range of challenges to generate sustained and equitable economic growth and improve social conditions. Burundi has begun to stabilize the economy, liberalized the trade and...

This Selected Issues paper analyzes the capital flows in Turkey. The empirical analysis in this paper uses exchange market pressure index to identify the determinants of capital flows to Turkey. It is observed that exchange market pressures in Turkey seem to a degree, larger than in other...

This Selected Issues paper for Morocco discusses possible fiscal policy anchors, specifically deficit targets, and the sustainability of the resulting fiscal paths. Morocco has made great progress toward fiscal consolidation in recent years, under the combined effect of a strong revenue...

This Selected Issues Paper analyzes the fiscal position and significant challenges for Luxembourg. Luxembourg’s fiscal position is currently sound, however, fiscal safety buffers are being eroded. The country’s healthy fiscal position will be challenged by forthcoming revenue...

This Selected Issues paper for the Republic of Armenia shows that building up fiscal space during economic expansions is crucial for the effective implementation of stimulatory policies during downturns. Armenia’s tax revenue remains one of the lowest in the region, and significantly...

This paper focuses on Norway’s 2013 Article IV Consultation on economic policies to enhance long-term competitiveness. The success of the oil sector has created new competitiveness challenges. The IMF report states that rapid increases in oil wealth are also adding further pressures on...

In most developing countries, poverty is more widespread and severe in rural than in urban areas. The author reviews some important aspects of rural poverty and draws key implications for public policy. He presents a policy framework for reducing poverty, taking into account the functional...