01938cas a2200277 a 4500 AALejournalIMF013467 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484389812 1018-5941 BD-DhAAL BD-DhAAL Caceres, Carlos. The Day After Tomorrow : Designing an Optimal Fiscal Strategy for Libya / Carlos Caceres, Serhan Cevik, Marco Committeri, Borja Gracia. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (32 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 Libya is highly dependent on exhaustible and volatile hydrocarbon resources, which constitute the bulk of government revenues. Although resource wealth provides the means to promote socio-economic development, procyclical fiscal policies threaten macroeconomic stability as well as fiscal sustainability and intergenerational equity. In three parts, this paper provides an assessment of the cyclically adjusted fiscal stance, analyzes fiscal sustainability according the permanent income framework, and simulates various fiscal policy rules with the objective of developing a rule-based fiscal strategy that would delink the economy from oil price fluctuations, improve the management of resource wealth, and safeguard macroeconomic stability. Mode of access: Internet Cevik, Serhan. Committeri, Marco. Gracia, Borja. IMF Working Papers; Working Paper ; No. 2013/079 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/079/001.2013.issue-079-en.xml IMF e-Library