Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs

Author/Editor:

Willem H. Buiter

Publication Date:

April 1, 1997

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Key medium– and longer–term fiscal issues faced by transition economies are reviewed, including government solvency and the sustainability of the fiscal–financial–monetary program. The paper aims to assist the design and implementation of future Fund programs and to contribute to the debate about fiscal policy in transition economies. After presenting a framework for evaluating the sustainability of the fiscal–financial–monetary program of the state, some numerical material is presented on public debt, (quasi–) fiscal deficits and monetary financing. Eight budgetary issues of special relevance to transition economies are considered next. The lessons from this study are summarized in a number of propositions.

Series:

Working Paper No. 1997/031

Subject:

English

Publication Date:

April 1, 1997

ISBN/ISSN:

9781451980073/1018-5941

Stock No:

WPIEA0311997

Pages:

57

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