Lifting the Oil Curse: Improving Petroleum Revenue Management in Sub-Saharan Africa

Abstract

This paper discusses macroeconomic and governance issues in relation to oil sector policies in oil-producing countries in sub-Saharan Africa (Angola, Cameroon, the Republic of Congo, Equatorial Guinea, Gabon, and Nigeria, as well as in Chad which had started production by mid-2003). The paper is based on a background paper prepared for a workshop (organised jointly by the IMF and World Bank) which included government ministers, governors of central banks and heads of national oil companies from the region.