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Quasi-Fiscal Deficits and Energy Conditionality in Selected CIS Countries, Tapio Saavalainen, Joy Mylène Berge

Abstract
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""
Language
eng
Literary Form
non fiction
Note
"February 2006"
Physical Description
1 online resource (37 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9786613825032

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