Implications of Quasi-Fiscal Activities in Ghana

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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Year of publication:	2006-01-01
Authors:	Chivakul, Mali ; York, Robert C.
Institutions:	International Monetary Fund (IMF)
Subject:	Fiscal management \| Fiscal reforms \| Energy \| central bank \| fiscal activities \| quasi-fiscal activities \| fiscal operations \| public debt \| domestic debt \| debt sustainability \| debt relief \| external debt \| capital expenditure \| fiscal position \| debt sustainability analysis \| fiscal policy \| fiscal deficit \| fiscal losses \| fiscal stance \| fiscal adjustment \| public sector debt \| fiscal transparency \| fiscal indicators \| tax revenue \| long-term debt \| external borrowing \| quasi-fiscal activity \| debt reduction \| government expenditures \| fiscal developments \| debt service \| accumulation of arrears \| fiscal consolidation \| external loans \| budget constraints \| fiscal affairs department \| government revenue \| fiscal affairs \| fiscal activity \| payment arrears \| central banks \| current account surplus \| publicly-guaranteed \| debt \| government loans \| foreign borrowing \| fiscal reporting \| current account \| external debt sustainability \| domestic borrowing \| national budget \| fiscal policies \| fiscal situation \| public enterprise debt \| fiscal consolidation efforts \| fiscal implications \| debt burden \| bilateral donors \| fiscal sustainability \| multilateral debt \| fiscal institutions \| expansionary fiscal \| debt relief initiative \| ratio of debt \| multilateral debt relief \| fiscal balance \| fiscal coverage \| expansionary fiscal policies \| capital expenditures \| quasi-fiscal deficit \| debt dynamics \| external public debt \| public sector borrowing \| debt restructuring

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series IMF Working Papers Number 06/24 4 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005605306