Agenda (in Portuguese)

Day One

Welcome and Introduction   8:30AM to 9:00AM

Key Information Petroleum Sector Non-lending Technical Assistance Catholic Bishops urge Angola Gov't to implement EITI (English, Portuguese) The Ministry of Finance publishes information on monthly revenues from oil exports by companies, block, and type of payment on its website, in Portuguese. Angola and the IMF World Bank's country brief on Angola

Opening Remarks.  Jose Pedro de Morais, Minister of Finance, Angola.  Michael Baxter, Country Director, Angola, World Bank.

Welcoming Address. Aguinaldo Jaime, Minister Assistant to the Prime Minister, Angola.
Purpose and importance of the Workshop to Angola.

Introduction and Overview.  Charles McPherson, Senior Advisor, Oil and Gas, World Bank.
Introduction to the Paradox of Plenty. Issues and challenges arising. Organization of the workshop.

Session One:  Revenue Collection   9:00AM to 11:00AM
 
Panel Session covering tax design and fiscal instruments, tax administration, revenue monitoring and reporting.

Introduction of Panel Topics. Charles McPherson, Senior Adviser, Oil and Gas, World Bank.

Angola’s Fiscal Regime (in Portuguese).  Graham Kellas, Vice President, Wood Mackenzie.
Review of the main features of Angola’s petroleum fiscal regime and implications for financial flows. Strengths and weaknesses. Comparative international experience. 

Angola’s Tax Administration (in Portuguese).  Jack Calder, Senior Consultant, AUPEC, and former Deputy Director, UK Office of Oil Taxation.
Overview of Angola’s tax administration system and issues arising (capacity, resources, inter-agency coordination, etc.).

Revenue Monitoring and Reporting (in Portuguese).  Luis Alves, Audit Manager, DeloitteTouche, Angola.
Audit procedures and internal and external reporting of revenues. Special reference to EITI principles and objectives in Angolan context.

Panel Discussion. Eleuterio Mavela, Director of Studies, Ministry of Petroleum. Hermenegildo Gaspar, Director, National Taxation Office. Decio Barbosa, Former Head of Tax, Brazilian Petroleum Agency.
 
Session Two:   Revenue Management   11:30AM to 1:00PM

Panel Session covering Angola’s past and projected revenue experience, relationship to macroeconomic performance, fiscal rules, petroleum savings and stabilization funds.

Introduction to Panel Topics.  Philip Daniel, Fiscal Adviser, Fiscal Affairs Department, IMF.

Angola’s Petroleum Revenues (in Portuguese).  David Morrison, Managing Director, Wood Mackenzie.
Review of past and projected revenue flows from the petroleum sector. 

Appropriate Fiscal Responses (in Portuguese).  Francisco Carneiro, Senior Country Economist, Angola, World Bank.
Appropriate fiscal responses to Angola’s expected petroleum revenue flows.

Panel Discussion.  Job Graca, Vice Minister, Ministry of Finance. 
 
Keynote Speaker   2:00PM to 3:00PM

Political Economy of Petroleum Revenue Management (in Portuguese).  Paul Collier, Director, Centre for the Study of African Economies, Oxford University and Senior Adviser to Vice President, Africa, World Bank.
Relevance and challenges of the political economy context to petroleum revenue management.

Session Three:  Revenue Expenditure   3:00PM to 5:00PM

Panel Session covering budget design and implementation and the monitoring of public expenditure.

Introduction to Panel Topics. Francisco Carneiro, Senior Country Economist, Angola, World Bank.

Macro and Fiscal Framework (in Portuguese).  Philip Daniel, Fiscal Adviser, Fiscal Affairs Department, IMF.
Macro and fiscal frameworks appropriate to budget design and execution in petroleum dependent economies.

Fiscal Rules and Petroleum Funds (in Portuguese).  Bright Okogu, Special Adviser to Minister of Finance, Nigeria.
Pros and cons of fiscal rules, petroleum funds for savings and/or stabilization. Governance issues. Special reference to Nigeria’s experience.

Panel Discussion. Eduardo Severim de Morais, Vice Minister, Ministry of Finance. Pedro Luis da Fonseca, Director of Studies, Ministry of Planning.

Day Two

Session Four:  Fiduciary Relationships   9:00AM to 11:00AM

Panel Session covering fiduciary relationships among the various government agencies involved in the management of financial flows in the petroleum sector.

Introduction to Panel Topics.  Charles McPherson, Senior Adviser, Oil and Gas, World Bank.

Overview of Sector Flow of Funds (in Portuguese).  Peter Macnab, Senior Consultant, AUPEC.
Tracking petroleum revenue flows from well-head to budget.

Quasi Fiscal Expenditures and Tax Offsets (in Portuguese).  Francisco Carneiro, Senior Country Economist, Angola, World Bank.
Recent practice, complications arising, and ongoing reforms.

Oil Sector Management (in Portuguese).  Decio Barbosa, former Head of Tax, Brazilian Petroleum Agency.
International practice with respect to the role of government ministries/agencies and National Oil Company in overseeing sector operations.  Government/National Oil Company Fiduciary relationships. Special reference to Brazil’s experience.

Panel Discussion. Manuel Neto da Costa, Director of  Studies, Ministry of Finance.

Closing Session  11:30AM to 1:00PM

Review of and comments on issues raised and recommendations.

Participant Panel. Eduardo Severim de Morais, Vice Minister of Finance, Angola, Chair.
Mix of Angolan and international experts to comment on principal themes and recommendations of the workshop.

Open Floor Discussion.
Questions and answers with the panel. Open discussion among audience participants.

Concluding Remarks (in Portuguese). Eduardo Severim de Morais, Vice Minister of Finance, Angola and Michael Baxter, Country Director for Angola, World Bank.
Summary of main “take-aways” from the workshop and proposed next steps