IMF wants transparent fiscal framework here for extractive industries

-cites need for more inclusive growth

The International Monetary Fund (IMF) has recommended that Guyana put in place an effective and transparent fiscal structure for the extractive industries.

In a statement yesterday on its Article IV Consultation with Guyana which was conducted on November 9, 2012, the IMF said the structure should include a sovereign wealth fund (SWF) and compliance with the Extractive Industries Transparency Initiative (EITI).

An SWF comprises money from central bank reserves that build up as a result of budget and trade surpluses and also includes revenue generated from the …..To continue reading, login or subscribe now.

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