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

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
Language:	English
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.
ISBN:	9781451908398 1451908393
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.

Table of 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