01786cas a2200241 a 4500 AALejournalIMF002867 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844948 1018-5941 BD-DhAAL BD-DhAAL Ntamatungiro, Joseph. Fiscal Sustainability in Heavily Indebted Countries Dependenton Nonrenewable Resources : The Case of Gabon / Joseph Ntamatungiro. Washington, D.C. : International Monetary Fund, 2004. 1 online resource (38 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper proposes a framework for assessing fiscal sustainability in heavily indebted countries dependent on exhaustible resources, with reference to Gabon. It finds that fiscal sustainability could be achieved by: (i) developing a fiscal rule for the non-oil primary fiscal balance compatible with an objective for reducing the debt-to-non-oil GDP ratio; (ii) introducing a constant oil-based income transfer per capita allowing intergenerational equity; and (iii) building up an oil savings fund. Long-term simulations show that Gabon's fiscal position is fragile and that a fiscal policy path consistent with the proposed framework could help achieve comfortable levels of net wealth. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2004/030 Full text available on IMF http://elibrary.imf.org/view/journals/001/2004/030/001.2004.issue-030-en.xml IMF e-Library