Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs
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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:
Banking Economic sectors Financial services Government debt management Monetary base Money Public debt Public financial management (PFM) Public sector Real interest rates
English
Publication Date:
April 1, 1997
ISBN/ISSN:
9781451980073/1018-5941
Stock No:
WPIEA0311997
Pages:
57
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