Transforming oil for food (OFF) into efficient market-oriented social programs and modern management of oil revenues

The paper is offered as a means to discuss options. The current OFF deals with both food (and its distribution) and non-food (medical supplies, agricultural machinery, etc.). It is recommended that the current program should evolve from in-kind subsidies channeled through administrative means to direct subsidies offered directly to the population, provided through food stamps with monetary value allocated to households, with food and non-food assistance distributed via markets and prices. Appendix One offers an overview of how best to manage and invest Iraqi oil revenues. (Author abstract)