Resolving a Large Contingent Fiscal Liability: Eastern European Experiences
Electronic Access:
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Summary:
On occasion, a government may find itself confronted with a need to address a large contingent or off balance sheet fiscal liability. Implementing a settlement raises issues of fiscal sustainability and macroeconomic stability. This paper surveys the key design issues, and draws lessons from recent Eastern European experience. It then considers in more detail the particular case of Ukraine, and how it might approach its own large contingent liability-the so-called lost savings-which at end-2007 amounted to as much as 18 percent of GDP.
Series:
Working Paper No. 2008/159
Subject:
Arrears Currencies Fiscal sustainability Privatization Real interest rates
Frequency:
Annually
English
Publication Date:
June 1, 2008
ISBN/ISSN:
9781451870176/1018-5941
Stock No:
WPIEA2008159
Pages:
40
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