Implications of Quasi-Fiscal Activities in Ghana
January 1, 2006
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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
Pages:
47
Volume:
2006
DOI:
Issue:
024
Series:
Working Paper No. 2006/024
Stock No:
WPIEA2006024
ISBN:
9781451862843
ISSN:
1018-5941
