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Cash Flow Analysis of Fiscal Regimes for Extractive Industries

Author

Listed:
  • Thomas Benninger
  • Dan Devlin
  • Eduardo Camero Godinez
  • Nate Vernon-Lin

Abstract

Mining and petroleum projects share characteristics distinguishing them from other sectors of the economy, which has led to the use of dedicated fiscal regimes for these projects. The IMF’s Fiscal Affairs Department uses fiscal modeling to evaluate extractive industry fiscal regimes for its member countries, and trains country officials on key modeling concepts. This paper outlines important preconditions needed for effective fiscal modeling, key evaluation metrics, and emphasizes the importance of transparent modeling practices. It then examines the modeling of commonly-used fiscal instruments and highligts where their economic impact differs, and how fiscal models can inform fiscal regime design.

Suggested Citation

  • Thomas Benninger & Dan Devlin & Eduardo Camero Godinez & Nate Vernon-Lin, 2024. "Cash Flow Analysis of Fiscal Regimes for Extractive Industries," IMF Working Papers 2024/089, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2024/089
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