Chivakul, Mali, and Robert York, 2006, “Implications of Quasi-Fiscal Activities in Ghana,” IMF Working Paper 06/24 (Washington: International Monetary Fund).
Mackenzie, G.A., and Peter Stella, 1996, “Quasi-Fiscal Operations of Public Financial Institutions,” IMF Occasional Paper No. 142 (Washington: International Monetary Fund).
Prepared by Noriaki Kinoshita (FAD).
Assets are recorded at book values except for cases where an entity undergoes capital restructuring and revaluation. An important recent example of the latter cases includes the two companies in the electricity sector (PDB and DESA).
The average domestic sales price is less than a half of the international price, and the foregone revenue is estimated to be 2–3 percent of GDP.