Some of the guidelines in the handbook include suggestions on the practical challenges that developing countries face when trying to retain adequate staff and capacity to handle the complex nature of natural resource revenue administration.
"The resource rich countries' must have relatively competitive salaries dedicated to revenue administration in order to retain personnel. Tactics such as training, performance management and recruitment practices can help the government retain the professionals needed," the book says.
The handbook titled 'Administering Fiscal Regimes for
The bank said the publication provides policymakers and officials in the emerging markets with practical guidelines to establish a robust institutional framework, organisation and procedures for administering natural resource revenue.
"This publication makes an important contribution to knowledge on best practices that can help direct extractive industry revenues towards poverty alleviation and boosting shared prosperity.
The IMF said the book will enable governments to establish strong legal frameworks, modern procedures, and more effective management for administering natural resources revenues.
"Getting hold of the potential revenues from the extractive industries in a fair, effective and transparent way is critical in achieving economic development and macroeconomic stability that we are all looking for," IMF fiscal affairs deputy director,
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