Quasi-Fiscal Deficits and Energy Conditionality in Selected CIS Countries
AbstractQuasi-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 InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 06/43.
Date of creation: 01 Feb 2006
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-07-02 (All new papers)
- NEP-ENE-2006-07-02 (Energy Economics)
- NEP-TRA-2006-07-02 (Transition Economics)
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.:
- Aleh Tsyvinski & Martin Petri & GÃ¼nther Taube, 2002. "Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union," IMF Working Papers 02/60, International Monetary Fund.
- Robert Tchaidze, 2007. "Quasi-Fiscal Deficit in Non-Financial Enterprises," IMF Working Papers 07/10, International Monetary Fund.
- 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.
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