IMF Working Papers

Implications of Quasi-Fiscal Activities in Ghana

By Mali Chivakul, Robert C York

January 1, 2006

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

Mali Chivakul, and Robert C York. "Implications of Quasi-Fiscal Activities in Ghana", IMF Working Papers 2006, 024 (2006), accessed July 11, 2025, https://doi.org/10.5089/9781451862843.001

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote
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

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.

Subject: Banking, Contingent liabilities, Public enterprises, Public sector, Quasi-fiscal operations

Keywords: Debt relief, Enterprise debt, Inter-enterprise arrears, Interest rate, Private sector, State-owned enterprise, WP

Publication Details

You May Also Be Interested In...

Denmark: Selected Issues

July 4, 2025

Austria: Selected Issues

July 3, 2025

The Sequencing and speed of Reforms in Transition Economies: Implications for the Case of Uzbekistan

June 27, 2025

Uzbekistan and Public-Private Partnerships: Country Lessons, Republic of Uzbekistan

June 27, 2025