Program for Strengthening Fiscal Policy and Management of the Extractive Industries in the Effects of the COVID-19 Crisis

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The objective of technical cooperation (TC) is to support governments in the region strengthen fiscal policies to manage extractive industries (EI) during the pandemic caused by COVID-19 and the ensuing oil price shock. Specifically, this TC will (i) develop diagnostics of the dual impact of COVID-19 crisis and oil price shock in economies that heavily rely on extractive industries and that are suffering due to measures imposed by the countries to manage the spread of the virus; (ii) assist in the formulation of fiscal policy responses for immediate actions and reduction of the fiscal stress in the medium and long-term, (iii) assist the governments in developing fiscal recovery plans for the post-pandemic period mostly affected by the macro-fiscal shock , and (iv) disseminate diagnostics and plans to strengthen institutional capacity to promote the use of sound fiscal policies in the post pandemic period.