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E-book
Author Saavalainen, Tapio, author.

Title Quasi-fiscal deficits and energy conditionality in selected CIS countries / prepared by Tapio Saavalainen and Joy ten Berge
Published [Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., ©2006

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Description 1 online resource (35 pages) : illustrations
Series IMF working paper ; WP/06/43
IMF working paper ; WP/06/43.
Contents Contents -- I. INTRODUCTION -- II. MEASURING THE QUASI-FISCAL DEFICIT -- III. MACROECONOMIC RELEVANCE OF QUASI-FISCAL DEFICITS -- IV. ENERGY SECTOR CONDITIONALITY -- V. OUTCOMES AND LESSONS LEARNED -- VI. POLICY OPTIONS -- VII. EPILOGUE -- References
Summary Quasi-fiscal deficits of public utility companies are common in all member countries of the Commonwealth of Independent States (CIS). They constitute a significant impediment to efficient resource allocation and endanger macroeconomic stability. This paper presents a simple framework for measuring and monitoring such deficits and highlights their macroeconomic relevance. It reviews the progress under IMF conditionality aimed at correcting these imbalances during 1993-2003. The paper suggests that the extensive conditionality under the IMF-supported programs has yielded only limited progress in reducing the energy sector's financial imbalances. In conclusion, different policy options are discussed in light of the lessons learned
Notes Print version record
Subject Municipal services -- Former Soviet republics
Government business enterprises -- Former Soviet republics
Public utilities -- Former Soviet republics
Deficit financing -- Former Soviet republics
Deficit financing
Government business enterprises
Municipal services
Public utilities
Soviet Union -- Former Soviet republics
Form Electronic book
Author Berge, Joy ten, author
International Monetary Fund. Middle East and Central Asia Department.
ISBN 9781451908398
1451908393