Series: IMF Working Papers
Author(s): Aliona Cebotari
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 October 2008
Keywords: government guarantees, fiscal risks, disclosure, contingent liability, accounting standards, moral hazard, beneficiaries,
Contingent liabilities have gained prominence in the analysis of public finance. Indeed, history is full of episodes in which the financial position of the public sector is substantially altered-or its true nature...