Quasi-fiscal deficits and energy conditionality in selected CIS countries /

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Bibliographic Details
Author / Creator:Saavalainen, Tapio, author.
Imprint:[Washington, D.C.] : International Monetary Fund, Middle East and Central Asia Dept., ©2006.
Description:1 online resource (35 pages) : illustrations
Series:IMF working paper ; WP/06/43
IMF working paper ; WP/06/43.
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.
Electronic books.
Electronic books.
Format: E-Resource U.S. Federal Government Document Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12498973
Hidden Bibliographic Details
Other authors / contributors:Berge, Joy ten, author.
International Monetary Fund. Middle East and Central Asia Department.
Digital file characteristics:text file
Notes:Print version record.
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.

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