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Implications of Quasi-Fiscal Activities in Ghana
Author:
Miss Mali Chivakul
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Mr. Robert C York
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Series:
IMF Working Papers
Volume/Issue:
Volume 2006: Issue 024
Language:
English
Publication Date:
01 Jan 2006
DOI:
https://doi.org/10.5089/9781451862843.001
ISBN:
9781451862843
ISSN:
1018-5941
Pages:
47
Keywords:
WP; state-owned enterprise; inter-enterprise arrears; enterprise debt; interest rate; debt relief; private sector
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper assesses the scope and coverage of quasi-fiscal activities (QFAs) in Ghana. We find that while QFAs have been reduced recently, they remain significant. The extensive nature of these activities has several macroeconomic and structural policy implications. An extended measure of public sector operations, including QFAs, presents a clearer picture of Ghana's fiscal stance and fiscal adjustment from one for the central government alone; QFAs have led to serious distortions in energy and water consumption; and they have distorted the investment decisions of both public enterprises and the private sector.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund