02260cas a2200265 a 4500 AALejournalIMF014778 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484346143 1018-5941 BD-DhAAL BD-DhAAL Jarmuzek, Mariusz. Designing a Fiscal Framework for a Prospective Commodity Producer : Options for Lebanon / Mariusz Jarmuzek, Diego Mesa Puyo, Najla Nakhle. Washington, D.C. : International Monetary Fund, 2014. 1 online resource (33 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 Lebanon is expected to have gas resources in its Mediterranean basin, and these could turn the country into a natural gas producer over the next decade. Lebanon's economy and institutions will thus need to adapt to the challenges and opportunities that such change will bring. In this paper, we address how Lebanon's fiscal framework will need to be reformulated to take into account potential resource revenue. Designing a fiscal regime appropriately is an absolute prerequisite to make sure the government can receive a fair share of the resources while investors face appropriate incentives to invest and develop the sector. This step should be followed by setting macro-fiscal anchors and supporting institutions. The prospective framework should initially be focused on ensuring fiscal sustainability and intergenerational equity, given the estimated relatively short horizon of Lebanon's gas resources. Strong institutional arrangements also need to underpin the prospective framework, to ensure that the pace of resource wealth's use is set in line with Lebanon's capacity constraints. Mode of access: Internet Mesa Puyo, Diego. Nakhle, Najla. IMF Working Papers; Working Paper ; No. 2014/193 Full text available on IMF http://elibrary.imf.org/view/journals/001/2014/193/001.2014.issue-193-en.xml IMF e-Library