A new International Monetary Fund report sees energy subsidies as an impediment to economic growth. The Energy Subsidy Reform – Lessons and Implications report argues that subsidies continue to “aggravate fiscal imbalances, crowd-out priority public spending, and depress private investment, including in the energy sector. Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive industries, reducing incentives for investment in renewable energy, and accelerating the depletion of natural resources.” The Read more