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Quasi-Fiscal Deficits and Energy Conditionality in Selected CIS Countries

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  • Tapio Saavalainen
  • Joy Mylène ten Berge
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    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.

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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 06/43.

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    Length: 37
    Date of creation: 01 Feb 2006
    Date of revision:
    Handle: RePEc:imf:imfwpa:06/43

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    Related research

    Keywords: Energy; Governance; Budget deficits; Transition economies; electricity; fiscal deficit; quasi-fiscal deficit; fiscal deficits; quasi-fiscal deficits; electricity sector; foreign debt; electricity tariffs; fiscal balance; quasi-fiscal activities; electricity consumption; fiscal activities; electricity tariff; structural adjustment; electricity distribution; revenue collection; electricity bill; electricity market; electricity distribution companies; electricity supply; taxation; fiscal policy; fiscal stability; government fiscal deficits; electricity payments; source of electricity; government budget; annual budget; electricity dispatch; public expenditure; electricity bills; wholesale electricity market; residential electricity; fiscal space; electricity efficiency; electricity billing; costs of electricity; transmission of electricity; fiscal soundness; budgetary flows; fiscal agencies; electricity use;

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    References

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Aleh Tsyvinski & Martin Petri & Günther Taube, 2002. "Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union," IMF Working Papers 02/60, International Monetary Fund.
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    Cited by:
    1. Sudeshna Banerjee & Heather Skilling & Vivien Foster & Cecilia Briceno-Garmendia & Elvira Morella & Tarik Chfadi, 2008. "Africa - Ebbing Water, Surging Deficits : Urban Water Supply in Sub-Saharan Africa," World Bank Other Operational Studies 7835, The World Bank.
    2. Robert Tchaidze, 2007. "Quasi-Fiscal Deficit in Non-Financial Enterprises," IMF Working Papers 07/10, International Monetary Fund.

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