论文信息 - A Lebanon Sovereign Wealth Fund: Preliminary Recommendations

A Lebanon Sovereign Wealth Fund: Preliminary Recommendations

Given its prospects of sizeable hydrocarbon wealth, Lebanon is in the process of designing an institutional framework to manage these resources. One such issue is the establishment of a savings-type Sovereign Wealth Fund (SWF), as required by the 2010 Hydrocarbon Law. Drawing from the relation between cross-country SWF experiences and institutional quality, this paper highlights some pitfalls and presents preliminary recommendations for Lebanon. Key among these is that a Lebanese SWF should be integrated with the budget system, some (limited) flexibility in operational rules, no/limited earmarking, no extra-budgetary spending, coherence with country investment strategy, and transparency and accountability.

Eric Le Borgne | I. Jamali

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