The International Monetary Fund or IMF has published a book exploring ways of varying oil based economies.
The book entitled ‘Breaking the Oil Spell’ highlights true economic expansion and the role of governments in achieving it.
The authors are imagining a future in which oil is no longer the main source of energy.
Such a future may not be terrible for oil exporters if they succeed in diversifying their economies, says the IMF.
Change the current economic model, IMF urges oil exporting countries like South Sudan.
The book extracts lessons from experiences of Brazil, Korea, Malaysia and Singapore to help guide other oil exporters today.