Taxes, Debt and Development: A One-Percent Rule to Raise Revenues in Africa

2019-03-15T13:21:23-04:00December 5, 2017|

By Vitor Gaspar and Abebe Aemro Selassie

December 5, 2017

Versions in عربي (Arabic), 中文(Chinese),  Español (Spanish), Français (French), 日本語 (Japanese),  Русский (Russian)

School children in Ghana: building a country’s tax capacity helps pay for education and health care (photo: Vacca Sintesi/SIPA/Newscom).

Tax revenues play a critical role for countries to create room in their budgets to increase spending on social services like health and education, and public […]

End of the Oil Age: Not Whether But When

2019-03-15T16:17:00-04:00September 12, 2017|

By Reda Cherif, Fuad Hasanov, and Aasim M. Husain

September 12, 2017

Versions in ربي (Arabic), 中文 (Chinese), Español (Spanish), Français (French),  日本語  (Japanese), Русский (Russian)

Filling up at a gas station in California: demand for oil could plummet with the rise of renewable energy (Xinhua/Newscom)

A transportation revolution is underway that could completely transform the oil market in the coming decades. […]

Chart of the Week: Electric Takeover in Transportation

2019-03-25T11:07:57-04:00July 31, 2017|

By IMFBlog

July 31, 2017 

An electric car recharges at a meter in London: The UK is the latest country to announce plans to end fossil fuel vehicle sales by 2040 (photo: Sasha Fox Walters/iStock by Getty Images)

The switch from horses to automobiles in the 20th century paved the way for the rise of oil-based transportation and energy use. Today, electric vehicle ownership is picking up speed. Greater […]

OPEC’s Rebalancing Act

2019-03-26T10:06:22-04:00March 15, 2017|

By Rabah Arezki and Akito Matsumoto

Versions in عربي (Arabic), Français (French), Русский (Russian), and Español (Spanish)

In November 2014, the Organization of Petroleum Exporting Countries (OPEC) decided to maintain output despite a perceived global glut of oil. The result was a steep decline in price.

Two years later, on November 30, 2016, the organization took a different tack and committed to a six-month, 1.2 million barrel a day (3.5 percent) reduction in OPEC crude oil output to 32.5 million barrels per day, effective in January 2017. The result was a small price increase and some price stability. […]

Taxing Oil, Gas and Minerals Across Borders Poses Challenges for Developing Nations

2019-03-26T12:46:11-04:00February 9, 2017|

By Philip Daniel, Michael Keen, Artur Swistak, and Victor Thuronyi

Versions in Français (French), Português (Portuguese), and Español (Spanish)

Seventy percent of the world’s poorest people live in countries rich in oil, natural gas or minerals, making effective taxation of these extractive industries critical to alleviating poverty and achieving sustained growth. But national borders make that task much harder, opening possibilities for tax avoidance by multinationals and raising tough jurisdictional issues when resource deposits cross frontiers. […]

Commodity Commotion

2019-03-26T13:57:29-04:00December 21, 2016|

By iMFdirect

Terms of trade is the price of a country’s exports relative to its imports. The commodity terms of trade refers to a country’s commodity exports relative to its commodity imports.

When the price of commodities, like oil, plummeted in 2015, economies that rely on exporting commodities had their terms of trade drop by an average of about 10 percent of GDP that year. Economies that rely more on importing commodities saw about a 2 percent of GDP benefit from the 2015 drop in prices.  […]

A "New Normal" for the Oil Market

2019-03-26T15:15:12-04:00October 27, 2016|

By Rabah Arezki and Akito Matsumoto

Versions in عربي (Arabic), 中文 (Chinese), Français (French), 日本語 (Japanese), Русский (Russian), and Español (Spanish)

While oil prices have stabilized somewhat in recent months, there are good reasons to believe they won’t return to the high levels that preceded their historic collapse two years ago. For one thing, shale oil production has permanently added to supply at lower prices. For another, demand will be curtailed by slower growth in emerging markets and global efforts to cut down on carbon emissions. It all adds up to a “new normal” for oil.

[…]

Oil Low-Commotion

2019-03-27T12:38:46-04:00January 14, 2016|

By iMFdirect

Brent crude oil fell below $30 a barrel yesterday for the first time since 2004, which reminds us that commodity prices are a hot topic that impact everyone, everywhere, one way or another.

So we thought you might like to read a few of our recent blogs about what the !@#$% is going on, and why it matters for the global economy. […]

Climate Change: How To Price Paris

2019-03-27T12:42:51-04:00January 11, 2016|

by Vitor Gaspar, Michael Keen, and Ian Parry

(Versions in عربي中文Español, and Français)

The Paris Agreement on Climate Change is a historic diplomatic achievement. Climate change is a global problem. Many believed that global problem solving would prove elusive: the benefits of cutting emissions arise globally while the costs of doing so are borne nationally, so national self-interest would prevent a meaningful agreement. Paris proves otherwise—creating a commonality of purpose at the global level.  […]

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